In this article, we rank the richest cities in North America, highlighting the qualities that make them so wealthy.
From the financial colossus of New York City to the innovation hub of the Bay Area, these cities exemplify the dynamism that characterizes the continent, which includes Mexico.
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20 Richest North American Cities By High Net Worth Individuals [2023 Ranking]
Each North American city is ranked based on how many high-net-worth individuals they have using data provided by Henley & Partners, a reputable London-based investment migration consultancy firm.
Each city’s metropolitan population is listed for added perspective.
1. New York City
- Country: United States
- Population: Over 20 million
- Millionaires: 340,000
- Centimillionaire: 724
- Billionaires: 58
New York City is the financial and cultural capital of the United States and the richest city in the world in terms of high-net-worth individuals, easily securing its place as the wealthiest city in North America.
New York City’s economic might is primarily driven by its role as a global financial hub. Wall Street, located in the Financial District of Manhattan, is synonymous with international finance and houses the headquarters of major banks and financial institutions.
However, the city’s wealth extends far beyond finance. New York City is a melting pot of industries, including technology, media, fashion, and the arts.
Its iconic skyline, world-famous landmarks such as the Statue of Liberty and Times Square, and vibrant cultural scene attract millions of tourists and investors, making it a magnet for global talent and capital.
2. The Bay Area
- Country: United States
- Population: Over 7.7 million
- Millionaires: 285,000
- Centimillionaire: 629
- Billionaires: 63
The San Francisco Bay Area, which encompasses the cities of San Francisco, San Jose, and Oakland, is renowned for its technological prowess and innovation. While the area has a metropolitan population half the size of New York City’s, its economic might and technological influence are felt worldwide.
This California region’s dynamic economy is characterized by its leadership in software development, biotechnology, and renewable energy. Silicon Valley, a part of the Bay Area, is a global technology and innovation hub, home to tech giants like Apple, Google, and Facebook.
Indeed, more than any city in North America, the Bay Area’s wealth is closely tied to its technological advancements and entrepreneurial spirit. The high concentration of tech startups and venture capital firms fuels innovation, attracts top talent, and drives economic growth.
3. Los Angeles
- Country: United States
- Population: Over 13 million
- Millionaires: 205,400
- Centimillionaire: 480
- Billionaires: 42
Often associated with the entertainment industry, Los Angeles is North America’s third wealthiest city. With a metropolitan population exceeding 13 million, it is not only a cultural hub but also a major player in various economic sectors.
The city’s wealth is a result of its diverse economy, including film and television production, technology, aerospace, trade, and tourism. Hollywood, a district within Los Angeles, is synonymous with the global film and television industry, while the Port of Los Angeles, one of the busiest ports in the world, plays a pivotal role in international trade.
Additionally, the city’s commitment to sustainability and green technology is fostering innovation in renewable energy and electric transportation.
4. Chicago
- Country: United States
- Population: Over 9.7 million
- Millionaires: 124,000
- Centimillionaire: 295
- Billionaires: 24
Chicago is the economic and cultural hub of the American Midwest and North America’s fourth wealthiest city. The large city boasts a diverse economy, including finance, manufacturing, technology, and transportation.
Chicago’s wealth is closely tied to its strategic location as a transportation and logistics hub, with the O’Hare International Airport serving as one of the world’s busiest airports, connecting Chicago to global markets. The city is home to over 55 Fortune 1000 companies, including McDonald’s, Kraft Heinz, Allstate, Mondelez, and United Airlines.
The city’s impressive skyline, marked by architectural marvels like the Willis Tower, showcases its economic dynamism.
5. Toronto
- Country: Canada
- Population: Over 6 million
- Millionaires: 105,200
- Centimillionaire: 193
- Billionaires: 18
Toronto is the financial and economic center of Canada and North America’s fifth wealthiest city. With a metropolitan population of over 6 million, it is the largest city in Canada and a vital player in the continent’s economic landscape.
Toronto’s wealth is derived from its diverse economy, encompassing finance, technology, film and television production, and healthcare. The city’s strong financial sector, commitment to innovation, and multiculturalism have made it an attractive destination for businesses and immigrants alike.
A booming real estate sector also contributes strongly to the city’s economic prosperity and has minted many new millionaires over the past decade.
6. Houston
- Country: United States
- Population: Over 7 million
- Millionaires: 98,500
- Centimillionaire: 280
- Billionaires: 20
Houston, Texas, is North America’s seventh wealthiest city. The city’s economy is anchored in the energy sector, particularly oil and natural gas, with its port serving as a crucial gateway for oil and petrochemical products.
As a result, Houston is home to numerous energy companies. However, its wealth extends beyond energy, encompassing sectors like healthcare, aerospace, and technology. The Texas Medical Center, one of the world’s largest medical complexes, is located in the city.
Houston’s welcoming business environment and low cost of living make it an attractive destination for businesses and professionals.
7. Mexico City
- Country: Mexico
- Population: Over 21 million
- Millionaires: 86,700
- Centimillionaire: 214
- Billionaires: 15
Mexico City, the capital of Mexico, is the largest city in North America in terms of population, with over 21 million residents in its metropolitan area. It stands as a testament to Mexico’s economic and cultural diversity, securing its place as the sixth richest city in North America.
Mexico City’s wealth is driven by a wide range of sectors, including finance, manufacturing, trade, and tourism. The city is a major financial center, hosting the Mexican Stock Exchange and the headquarters of many multinational corporations.
Its cultural richness, marked by historic landmarks like the Zócalo and the National Palace, enhances its appeal to tourists and businesses alike.
8. Seattle
- Country: United States
- Population: Over 4 million
- Millionaires: 50,500
- Centimillionaire: 121
- Billionaires: 10
Nestled in the Pacific Northwest, Seattle is a large and affluent city that derives its wealth from a vibrant tech sector.
Seattle is known for being the birthplace of tech giants like Microsoft and Amazon, both of which still have their headquarters in the metropolitan area. The city’s commitment to sustainability and green technology is evident in its clean energy initiatives and transportation innovations.
Seattle’s wealth is not just economic but also cultural, boasting a thriving arts and music scene and a strong maritime industry. All these factors come together to earn it the eighth spot among the richest cities in North America.
9. Boston
- Country: United States
- Population: Over 4.9 million
- Millionaires: 41,700
- Centimillionaire: 104
- Billionaires: 8
Boston is the capital of the U.S. state of Massachusetts. As North America’s ninth richest city, it has a very strong educational, healthcare, financial, and tech economic sectors.
Boston is home to prestigious universities like Harvard and MIT, fostering an environment of research and innovation, and its financial district hosts the offices of major banks and investment firms.
A rich heritage and culture marked by historic landmarks like Fenway Park and Faneuil Hall further enhances its appeal.
10. Miami
- Country: United States
- Population: Over 6 million
- Millionaires: 38,000
- Centimillionaire: 160
- Billionaires: 12
Miami completes the list of the ten wealthiest cities in North America. Located in southeastern Florida, the city’s wealth is derived from sectors such as tourism, trade, finance, and real estate.
Miami’s strategic location as a gateway to Latin America and the Caribbean has established it as a major hub for international trade. Its cultural diversity, vibrant nightlife, and beautiful beaches attract tourists and businesses.
Miami’s commitment to art and design is evident in its Wynwood Arts District and Art Basel Miami Beach, enhancing its cultural appeal.
18 Richest Cities In North America Ranked By High Net Worth Individuals
| Rank | City | Country | Millionaires | Centimillionaires | Billionaires |
| 1 | New York City | USA | 340,000 | 724 | 58 |
| 2 | The Bay Area | USA | 285,000 | 629 | 63 |
| 3 | Los Angeles | USA | 205,400 | 480 | 42 |
| 4 | Chicago | USA | 124,000 | 295 | 24 |
| 5 | Toronto | Canada | 105,200 | 193 | 18 |
| 6 | Houston | USA | 98,500 | 280 | 20 |
| 7 | Mexico City | Mexico | 86,700 | 214 | 15 |
| 8 | Seattle | USA | 50,500 | 121 | 10 |
| 9 | Boston | USA | 41,700 | 104 | 8 |
| 10 | Miami | USA | 38,000 | 160 | 12 |
| 11 | Vancouver | Canada | 37,300 | 67 | 6 |
| 12 | Austin | USA | 30,500 | 86 | 9 |
| 13 | Las Vegas | USA | 16,800 | 45 | 6 |
| 14 | San Diego | USA | 14,700 | 70 | 4 |
| 15 | Scottsdale | USA | 13,900 | 60 | 5 |
| 16 | Santa Barbara | USA | 12,300 | 82 | 6 |
| 17 | Greenwich | USA | 11,900 | 112 | 8 |
| 18 | West Palm Beach | USA | 9,400 | 64 | 6 |
What is the wealthiest city in America?
New York City is the wealthiest city in the United States based on high-net-worth individuals. In addition to having the largest economy, the Big Apple has more millionaires, centimillionaires, and billionaires than any other American city.
In fact, New York City is the richest city in the world, according to most international studies. It is home to more millionaires than any other world city, including Tokyo, Japan, a city with a much larger population and a bigger economy.
The San Francisco Bay Area is the second richest American city, followed by Los Angeles in third.
What is the richest part of North America?
The richest country in North America is the United States with over 22 million millionaires and other high-net-worth individuals, followed by Canada in second with over 2 million millionaires. Mexico has the third most millionaires with approximately 400 thousand millionaires.
The North American administrative divisions with the most millionaires are California, Texas, and New York. Ontario has the most millionaires of any province or territory in Canada.
What is the richest city in Canada?
Toronto is the richest city in Canada. It has the largest population and economy based on GDP of any Canadian city and is home to the largest number of millionaires, centimillionaires, and billionaires.
Vancouver is the second wealthiest Canadian city. Although Montreal has a bigger economy, Vancouver has more millionaires than all Canadian cities besides Toronto.
Conclusion
The richest cities in North America are economic powerhouses that contribute significantly to the continent’s wealth and global influence. From the financial might of New York City and the technological innovation of the Bay Area to the cultural allure of Los Angeles and the diversified economy of Toronto, each city plays a unique role in shaping the North American economic landscape.
The wealth of these cities is not only a reflection of their economic prosperity but also of their cultural diversity, role in connecting North America to the global stage, ability to foster innovation and attract talent, and commitment to sustainable growth.
Given that it has the most millionaires, centimillionaires, and billionaires, New York City is the richest city in America and, therefore, the whole of North America. Toronto is the wealthiest city in Canada, while Mexico City is the richest city in Mexico.
