What percentage of homes are over $1 million?

As of mid-2024, 8.5% of homes in the United States are valued at over $1 million. This is a record high share, more than double the 4% reported before the pandemic in June 2019.

What percent of homes are worth over 1 million?

The number of homes valued at $1 million or more is now more than twice what it was pre-pandemic, according to a new analysis of the luxury home market. The data shows that 8.5 percent of homes in America are worth more than $1 million, up from 7.6 percent last year and 4 percent pre-pandemic.

What percent of households have net worth over 1 million?

It's often viewed as a marker of financial success. According to 2023 estimates from the Credit Suisse Global Wealth Report and other sources, approximately 23.7 million U.S. households, or about 18.04% of all households, have a net worth of $1 million or more.

What percentage of homes are over $2 million?

Similarly, the top 5% of homes for sale nationwide start at $2 million, while the top 1% of nationwide start at $5.4 million. These values are 2.9, 3.6 and 12.6 times more expensive, respectively, than the nation's average median listing price of $430,000.

What is considered house rich?

Being house rich means that most of a homeowner's wealth is tied up in the house. It's not so much about reaching a certain dollar amount as it is about how much of your wealth is in your home. A person is considered "house rich" when they have fifty to seventy percent of their total net worth tied up in their home.

How Many People Are Millionaires Without Counting Their Home?

How many Americans have $2 million in the bank?

Only about 1.8% of U.S. households have $2 million or more in retirement savings, a figure from the Employee Benefit Research Institute (EBRI) using Federal Reserve data (2022 Survey of Consumer Finances). This places them in a very small minority, with even fewer (0.8%) reaching $3 million in retirement funds, highlighting that significant wealth accumulation for retirement is rare for most Americans. 

What salary to afford a $400,000 house?

To afford a $400k house, you generally need an annual income between $90,000 and $135,000, though this varies by interest rates, down payment, and debt, with lenders often looking for housing costs under 28% of your gross income (28/36 rule). A lower income might suffice with a large down payment or higher interest, while more debt requires a higher income, potentially pushing the need to over $100k-$120k+ annually. 

How many retirees have $2.5 million?

Very few U.S. households retire with $2.5 million; estimates place it in the small percentage, likely between the 1.8% with $2 million and the 0.8% with $3 million, making it a rare achievement but one that offers substantial financial security, potentially funding a comfortable retirement for decades using methods like the 4% rule. 

What is the top 5% household net worth?

Joining the top 1% requires a net worth of $11.6 million to $13.7 million, a slight dip from 2024 peaks due to market declines but still among the highest in history. For the top 5%, a net worth of $1.17 million to $2.7 million secures your spot, while the top 10% requires between $970,900 and $1.9 million.

What is the average net worth of a 70 year old couple?

For a 70-year-old couple (ages 65-74), the average (mean) net worth is around $1.8 million, while the median is significantly lower at approximately $410,000, reflecting that many households have less, but a few very wealthy ones pull the average up; this is often their peak wealth before retirement withdrawals, with data from late 2025 showing these figures.
 

What do 90% of millionaires have in common?

The famed wealthy entrepreneur Andrew Carnegie famously said more than a century ago, “Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined.

How many people actually retire as millionaires?

Fewer people retire as millionaires than commonly thought, with estimates suggesting around 3-4% of retirees have $1 million or more in retirement accounts, though this is growing, with some reports showing nearly 500,000 Americans having 401(k)s over $1 million in recent years, a rise driven by market gains and consistent saving, but many retirees have significantly less, highlighting a large gap in retirement readiness. 

Are you rich if your net worth is $1 million?

Yes, having $1 million generally puts you in a strong financial position, making you a high-net-worth individual (HNWI) by financial industry standards, yet many Americans, even millionaires, don't feel wealthy due to rising costs, inflation, and lifestyle expectations, with surveys suggesting most think you need over $2 million to truly be considered "rich" today. 

Is it true that 90% of people in China own their own homes?

As of 2023, China has one of the highest home ownership rates in the world, with 90% of urban households owning their homes.

What is the 7% rule in real estate?

The 7% rule is a general investment guideline often used by real estate investors to estimate whether a property will generate a good return. It suggests that a property should bring in at least 7% of its purchase price in annual net returns to be considered a strong investment.

What kind of car does Taylor Swift drive?

Taylor Swift drives a diverse collection of vehicles, ranging from luxury SUVs and supercars like the Mercedes Maybach S650, Audi R8, and Ferrari 458 Italia**, to more modest cars like her first car, a pink Chevrolet Silverado, and a Nissan Qashqai for discreet travel in London. Her garage also includes a Cadillac Escalade, Porsche 911 Turbo, Mercedes-Benz S-Class, and Toyota Sequoia.
 

How much money did Taylor Swift pay her employees?

Taylor Swift gave a massive $197 million in bonuses to her entire Eras Tour crew, with individual payments including $100,000 for each of the 50 truck drivers and reportedly around $750,000 for each dancer, plus handwritten notes, to share the tour's immense success and thank her hardworking team. 

What is the average 401k balance for a 65 year old?

For a 65-year-old, the average 401(k) balance is around $299,000, but the more representative median balance is significantly lower, at about $95,000, indicating many high savers pull the average up, with balances varying greatly by individual savings habits, income, and other retirement accounts. 

What is considered wealthy in retirement?

Being "wealthy" in retirement isn't a single number, but generally means having enough assets (often $3 million+) for true financial freedom, security, and lifestyle, beyond just comfort (around $1.2M). Top-tier wealth in retirement means having millions in net worth, with the 95th percentile around $3.2 million and the top 1% exceeding $16.7 million in household net worth, allowing for extensive travel and luxury, notes Nasdaq and AOL.com. 

What is a good credit score to buy a house?

640-699: Qualified for a home loan, but not the best mortgage rates available. 700-749: Strong borrower with access to good interest rates and more home loan options. 750-850: Excellent credit! You'll qualify for the best interest rates and loan terms.

How much mortgage can I get with $70,000 salary?

With a $70,000 salary, you can generally afford a house between $210,000 and $350,000, but your actual budget depends heavily on your credit score, existing debts, down payment, and current mortgage rates, with lenders often following the 28/36 rule (housing costs under 28% of gross income, total debt under 36%). A good starting point is keeping your total monthly housing payment (PITI) under $1,633, but a lower Debt-to-Income (DTI) ratio and larger down payment increase your buying power. 

What credit score is needed for a $400,000 mortgage?

Credit score requirements to buy a $400,000 house depend on the type of home loan. FHA loans require a minimum credit score of 500, whereas borrowers usually need a 620 credit score to qualify for a conventional mortgage.