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How Many People Made Millions Selling Homes?
Real estate is considered to be a relatively safe bet for investments when compared to the stock market, but how many people actually have made millions by flipping homes? PropertyShark turned this curious question into an answer by researching the number of people who became millionaires since the the turn of the century across 31 different cities. They documented the number of people who bought a home for less than $1 million before 2001, and then sold it for at least seven figures after 2001.
Although San Francisco’s population is half of Manhattan’s, it claimed the top spot with 381 millionaires, narrowly beating Manhattan which boasts 335. Continuing with the battle of the coasts, the next spots are competitively close between Brooklyn, 281, which just surpasses Los Angeles with 280 people. Silicon Valley and Washington D.C. claim many spots on the list, while the only other L.A. County city to make the cut is Pasadena, landing the 24th spot with 29 millionaires.
Here’s a look at the top 10 cities and their respective number of real estate millionaires since 2001:
- San Francisco – 381
- Manhattan – 335
- Brooklyn – 281
- Los Angeles – 280
- Potomac – 182
- Bethesda – 175
- San Jose – 119
- Queens – 93
- Scottsdale – 86
- Plainfield – 78
To see the complete list, hit the link below…and get to investing!
For comments, questions or concerns, please contact Daniella Soloway
