Millionaires are flocking to Miami faster than any other major metropolitan area in the country, save the Bay Area, a new report reveals.
From 2014 to 2024, the Miami area’s millionaire population nearly doubled, ballooning by 94% to nearly 39,000 people, according to wealth consultant Henley & Partners and financial intelligence firm New World Wealth.
The findings underscore the massive influx of wealth to Florida during and immediately after the COVID-19 pandemic, with high earners from other parts of the country drawn to Florida’s favorable tax policies, warm weather, relatively cheap real estate and lax pandemic restrictions…