Residential footprint differs depending on wealth level. At lower levels of wealth, individuals are likely to own fewer residences, though the extent of the difference will vary by geography and individual. Examining the residential footprint of VHNW individuals, those with $5m to $30m in net worth, in the US (the world’s largest wealth market), we find that:
San Jose, San Francisco, Boston and Seattle rank significantly higher for their VHNW residential footprint than for their relative general populations. All four cities have smaller general populations than cities that rank lower by VHNW residential footprint (Chicago, for example, as the country’s third most populous metro area, comes in 11th position for its VHNW residential footprint). Apart from San Francisco, these cities have a larger footprint of primary residents than secondary homeowners. As the center of Silicon Valley, the metro area of San Jose is the major standout: with a relatively modest general population of around 2 million, its total VHNW footprint numbers almost 41,000, not far behind that of Miami (which has a significantly larger general population).
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