Where are the Texas millionaires? These cities might surprise you
While you may assume that most of the nation's millionaires flock to cities like New York and Los Angeles — and many of them do — the cities with the highest percentages of the super wealthy are much smaller.
According to new data from the Wall Street Journal, the U.S. metro area with the highest concentration of millionaires is Los Alamos. In that New Mexico town, there are 912 households with more than $1 million in assets — 11.6 percent of the area's population.
Fredericksburg has the highest percentage of millionaires in Texas; 701 households have more than $1 million in assets.
Second on the list is Summit Park, Utah, with 9.6 percent of the population holding more than $1 million in assets. Washington, D.C., home to countless government officials and lobbyists, is No. 3, where 195,639 millionaire households make up 8.81 percent of the area's population.
In Texas, Fredericksburg has the highest percentage of millionaires; 701 households have more than $1 million in assets, making up nearly 6.5 percent of the area's population. (Fredericksburg come in at No. 47 on the national list.)
Kerrville is No. 2 on the Texas list, with millionaires making up nearly 6 percent of the area's population. The West Texas town of Andrews takes the No. 3 slot in the state, where 356 millionaire households comprise 5.84 percent of the population. Gainesville lands at No. 4, where 825 millionaire households account for 5.6 percent of the population.
With 120,841 millionaire households, or 5.5 percent of the population, Houston-The Woodlands comes in at No. 5 on the Texas list and No. 133 in the nation. Snyder, a little town southeast of Lubbock with 325 millionaire households, ranks No. 6, with 5.42 percent. It is followed by Midland (No. 7, with 5.4 percent).
Austin-Round Rock ranks No. 8 in Texas for millionaires with 39,194 households with more than $1 million in investable assets.
Brenham comes in at No. 9, with 5.38 percent, followed by Dallas-Fort Worth-Arlington at No. 10. Though the metroplex has the highest number of millionaire households in Texas — 132,601 — it equals only 5.35 percent of the area's overall population.
The nation's most populous cities,weren't very close to the top of the list. New York-Newark ranked No. 50 overall and Los Angeles-Long Beach came in at No. 123.