How Many Millionaires Are There in the United States in 2025?
Ever think about how many millionaires there are in the United States? It might shock you. Right now, in 2025, the count sits at over 24 million.
That’s folks just like you and me who saved a bit here, put some away there, and watched it grow. No fancy tricks. Just steady steps.
If you’re eyeing your own money goals, like saving for retirement or building a nest egg, these numbers show it’s doable1. Stick around.
We’ll dig into the facts, where these millionaires live, and offer easy tips to get started.
What Counts as a Millionaire?
A millionaire owns stuff worth at least one million bucks after paying off debts. Think of it like this: Add up your savings, home value, stocks, and car. Then take away what you owe on loans or your house. What’s left2? That’s your net worth. If it’s a million or more, congrats—you’re in the club.
Many millionaires keep it simple. They skip big debts. They put money into safe spots like retirement plans. One big study found that most never carry credit card balances. They live okay, not wild. No sports cars for show. Just smart choices day by day.
Want to check your own numbers? Grab a free tool online. It takes five minutes. Punch in your assets and debts. See where you stand. It’s like a quick money check-up.
How Many Millionaires Are There in the United States Today?
How many millionaires are there in the United States right now? In 2025, it’s more than 24 million people. That’s up from 23.8 million last year. Reports from big banks like UBS and Henley say the U.S3. leads the world. We hold about 37% of all global millionaires.
Picture this: One in ten American adults has this status. That’s huge. Back in the 1990s, only a few million folks cut. Now? It’s common. Home prices went up. Stocks did too. Every day, people cashed in.
For families, it’s even better. Millionaire households in America top 24 million. Almost one in five homes has a net worth of over a million. If you’re a couple saving together, that counts big.
Why the Number Keeps Growing
The American millionaire growth rate speeds up each year. In 2024, we added 379,000 new ones. That’s over a thousand a day! Strong markets helped. Real estate boomed. The dollar stayed steady.
But 2025 brings bumps. Trade talks and money worries slow things a tad. Still, experts say we’ll add more. Homes hold value. Stocks bounce back. Plus, 7,500 rich folks from other countries moved here this year. They bring $43.7 billion with them.
Look at history. From 2017 to now, a third of today’s millionaires got there fresh. Homes doubled in spots. Investments paid off. It’s not luck. It’s time plus smart moves.
Who Are These Millionaires? A Quick Look
Millionaire demographics USA paint a normal picture. Most hit the mark at age 49. Average now? Around 61. But younger groups join fast. Gen X leads at 50-ish. Baby boomers hold the most cash still.
Men top the list, but women close in. About one in three millionaires is female. Education helps too. Eight in ten have college degrees. But plumbers and teachers make it with hard work.
U.S. millionaire statistics by age group show this:
- 60-79: Biggest chunk, about 40%.
- 50-59: Next, around 23%.
- Under 40: Small but growing, like 1.8 million under 30.
Most are self-made. Over 95%. No big gifts from family. They grind it out.
Top Spots for Millionaires
Where do most U.S. millionaires live in 2025? Big cities and states draw them. California tops with millions. New York follows closely.
How many millionaires live in each U.S. state? Here’s the top five:
- California – Over 2 million.
- New York – About 1 million.
- Florida – 800,000 plus.
- Texas – 700,000.
- Illinois – 500,000.
By city percent, New York wins at 8.5% of folks. Los Angeles at 5.3%. These spots have jobs in tech, finance, and movies.
Richest states in America, like New Jersey, pack millionaires tight. One in nine homes there hits the mark. Sunny Florida pulls retirees with no state tax.
New York City? 384,500 millionaires alone. That’s the world’s top spot.
How Wealth Spreads Out
Net worth distribution by percentile tells the real story. Millionaires sit in the top 10%. The bottom half? Under $100,000. Top 1%? Over $10 million each.
Average net worth for millionaires? About $2.4 million. Half in retirement savings. Folks in their 50s average $1.3 million total.
This shows wealth inequality in America. The rich get richer. But good news: Middle folks climb too. “Everyday millionaires” with $1-5 million now top 52 million worldwide. U.S. leads that pack.
Changes Over the Years
How has the number of millionaires in America changed over time? Steady climb. In 1990, just 1.6 million. By 2020, 22 million. Now 24 million plus.
Are there more millionaires now than in 2020? Yes, by 2 million at least. Pandemics shook things, but markets rebounded. Homes shot up 50% in spots.
Projections? By 2030, maybe 28 million. Tech jobs and AI help young ones.
Self-Made Success Stories
How many self-made millionaires are there in the United States? Almost all. 95% built it themselves. They use wealth creation habits like these:
- Save 15% of pay for retirement.
- No credit card debt ever.
- Live below what you earn.
One survey of 10,000 found most invest in 401(k)s. They budget. They say no to flash. Toyota tops their car list, not Lambos.
What does it take to become a millionaire in America? Time. Most take 28 years. Start young. Invest steadily. Avoid loans.
Young Millionaires Step Up
How many millennial millionaires are there in the U.S.? About 1 million. They hustle with side gigs and apps. Tech pays big.
They eye financial independence statistics. Many aim to quit work early. FIRE fans save 50% of their income.
U.S. vs. World Wealth
Global wealth report 2025 says U.S. rules. 24 million here. China has 6.3 million. We hold 34% of the world’s cash.
High-net-worth individuals (HNWIs) flock here for chances. But some eye spots abroad for taxes.
Trends in Building Wealth
Wealth accumulation trends point to stocks and homes. Millionaires invest early. They diversify.
The U.S. economy and personal wealth are linked tightly. Good jobs mean more savers. Economic inequality data warns of gaps, but ladders exist.
The millionaire mindset? Control your cash. Set goals. Track every dime.
Fresh Millionaires Each Year
How many new millionaires are created each year in the U.S.? Around 400,000. 2024 saw 379,000. Markets and homes fuel it.
How many millionaires achieved wealth through investing? Most. Retirement plans top the list.
The Million Mark Today
Net worth threshold for millionaires stays at $1 million. But inflation bites. A million in 1950? Equals $11 million now.
Still, it buys freedom. No worries over bills.
Paths to Millionaire Life
Want in? Follow these steps:
- List debts. Pay the smallest first.
- Save three months’ pay for emergencies.
- Put 15% in stocks or funds.
- Buy a home. Pay extra each month.
Books like “Baby Steps Millionaires” guide you. Or chat with a money pro.
For more on smart saving, see this net worth guide.
Busting Old Ideas
Think millionaires party hard? Nope. They eat out for under $200 a month. Drive Hondas. Live in homes under $500,000.
One myth: You need big pay. Truth: Average earner saves to win.
Hurdles on the Road
Costs rise. Jobs shift. But stick to plans. Cut extras. Learn as you go.
FIRE Folks and the Goal
The FIRE (Financial Independence Retire Early) movement loves this stat. Forums buzz with tips. Save big. Invest smart. Retire at 40.
Check Reddit chats for real stories.
Tips for Money Pros
Wealth management trends say diversify. Use apps. Talk to advisors.
Link to wealth tips for celeb lessons.
Real Folks Share
Take Heidi. She hit a million in 2025. Modest home. Old cars. Peace of mind.
Or Dan. IT guy. Saved steadily. Now free.
What’s Next for Wealth?
By 2030, more growth. AI creates jobs. But watch taxes and trades.
Track your path. Adjust as needed.
Check Your Money Now
Add assets. Subtract debts. Use a calculator. Aim high.
Books and Groups to Join
Read “Everyday Millionaires.” Join FIRE online.
For family money talks, see this family story.
FAQs
How many millionaires live in the U.S. in 2025?
More than 24 million.
How many Americans hit a million bucks?
About 1 in 15.
What share of folks are millionaires this year?
Around 7 out of 100.
How many homes are worth over a million in worth?
Over 24 million.
How many new millionaires pop up each year?
Close to 400,000.
Conclusion
So, how many millionaires are there in the United States in 2025? Over 24 million. It’s proof that regular steps lead there. Save. Invest. Stay debt-free. You can too.
What’s one money move you’ll make this week?
References
- Bloomberg. (2025). Number of US Millionaires Grows Since 2017 – Analyzes households and assets for FIRE fans tracking net worth. ↩︎
- Empower. (2025). What Makes a Millionaire? 30 Revealing Stats – Shares age and savings data for retirement planners. ↩︎
- Henley & Partners. (2025). USA Wealth Report 2025 – Breaks down U.S. wealth hubs and global shares for trend watchers. ↩︎
