May 31, 2025 Breaking News, Latest News, and Videos

America’s Wealthiest 0.1% Could Buy Every Home in the 25 Largest U.S. Cities

New Redfin Report Reveals Disparity as People Struggle to Buy and Rent Homes

The wealthiest 1% of Americans now have a combined net worth nearly equal to the total value of all residential properties across the country, according to a new analysis from real estate brokerage Redfin.

At the end of 2024, the estimated value of approximately 100 million U.S. homes totaled $49.7 trillion, the report said. Meanwhile, the collective net worth of America’s richest 1% reached a record-high $49.2 trillion, nearly matching the value of the entire nation’s residential real estate market.

The findings highlight the vast concentration of wealth in the hands of the nation’s richest households, approximately 1.3 million households that the Federal Reserve defines as having at least $11.2 million in net worth.

Chen Zhao, economics research lead at Redfin, said real estate is a significant part of this group’s wealth, accounting for 12.3% of their total net worth—about $6.1 trillion. She noted that rising home values over the past decade have substantially contributed to their rapidly growing wealth, as most wealthy Americans own real estate outright and avoid mortgage interest payments by purchasing with cash.

“The top 1% can watch their real estate assets appreciate without facing mortgage costs,” Zhao said. “It’s a striking illustration of America’s concentrated wealth that the richest 1% could theoretically afford to buy almost every home in the country without borrowing a dollar, while millions struggle to afford or maintain even one home. In recent decades, asset values—including homes—have grown significantly faster than wages, deepening the divide between America’s richest and poorest.”

According to the report, the wealthiest Americans hold a disproportionate 13.4% of total U.S. real estate assets. By comparison, real estate accounts for a much larger share—46.4%—of total net worth for the bottom 50% of households, underscoring how much more reliant lower-wealth households are on their homes as their primary asset.

This lower-wealth half of American households has a total net worth of only $3.9 trillion, with real estate comprising $1.8 trillion of that amount. They own homes valued at approximately $4.9 trillion but carry $3.1 trillion in mortgage debt, highlighting their vulnerability to mortgage obligations.

By contrast, the top 1% own $6.5 trillion worth of real estate but hold mortgage debt of just $411.5 billion, illustrating how the richest households mostly purchase property with cash.

Even within this richest 1%, an even more exclusive group—the wealthiest 0.1%, about 134,000 households with net worth of at least $46.3 million—controls immense wealth totaling $22.1 trillion. According to Redfin’s analysis, this group alone could afford to purchase every home in America’s 25 largest metro areas, including cities like New York, Los Angeles, and Chicago.

Over the past two years, the net worth of these ultra-rich households rose by nearly 25%, or $4.4 trillion, significantly outpacing the bottom half of households, whose collective wealth increased only 8.5% ($306.3 billion) during the same period.

Redfin based its analysis on estimates of more than 98 million residential properties nationwide, combined with Federal Reserve data tracking wealth distribution among U.S. households.

The full report, along with charts, detailed methodology, and additional metro-specific data, can be viewed on Redfin’s website: https://www.redfin.com/news/wealthy-aggregate-value-2025.

<>Related Posts

Defensible Space, Defined: How A Plus Tree Protects Communities from Wildfire

May 30, 2025

May 30, 2025

In the wildfire-prone landscapes of the Western United States, safeguarding homes and communities requires proactive measures. A Plus Tree, a...

Westside Ballet to Present Spring Showcase and Gala Featuring NYCB Stars This Weekend

May 30, 2025

May 30, 2025

The Huntley Santa Monica Beach Community Service Award will go to first responders from Los Angeles and Santa Monica in...

Salt & Straw Unveils Summer Pie Series with Five Seasonal Ice Cream Flavors

May 30, 2025

May 30, 2025

Five New Flavors Inspired by Classic Summer Pies Will Be Introduced Salt & Straw is giving summer a scoopable twist with...

Palisades Village to Reopen in 2026 with Revamped Retail, Dining, and Community Spaces

May 29, 2025

May 29, 2025

Elysewalker Set to Return With Park Reconstruction, Holiday Events, and Streetscape Upgrades Palisades Village, the open-air shopping and lifestyle destination...

(Video) Signs That Your Aging Loved Ones Are in Need of Caregiving

May 29, 2025

May 29, 2025

To Find Out More, Go To Safelyhomeagain.com To Find Out More, Go To https://t.co/ZcOduvaP03 pic.twitter.com/9E2uPzzZO6 — Santa Monica Mirror (@SMMirror)...

(Video) Last Thursday Concert Series Kicks off at Venice Boardwalk

May 29, 2025

May 29, 2025

The shows happen at Dudley Ave. at the pergolas on the north end of the boardwalk The shows happen at...

Santa Monica Public Library Launches Summer Reading Program to Promote Literacy

May 29, 2025

May 29, 2025

Running from June 14 through August 16, the program encourages participants of all ages to track their reading progress and...

Film Review: Jane Austen Wrecked My Life

May 29, 2025

May 29, 2025

FILM REVIEWJANE AUSTEN WRECKED MY LIFERated R98 MinutesReleased May 30th Jane Austen Wrecked My Life is a refreshingly simple and...

Burger Chain Tied to Late Rapper Nipsey Hussle Announces Venice Boardwalk Location

May 29, 2025

May 29, 2025

The announcement marks the brand’s expansion from its Fairfax District debut earlier this year Marathon Burger, a new franchise honoring...

Levain Bakery Debuts ‘Levain à la Mode’ with Local Ice Cream Partners for Summer

May 29, 2025

May 29, 2025

Seasonal Offering With Wanderlust Creamery is a First in Cookie Shop’s History For the first time in its three-decade history, Levain...

Bay Cities Italian Deli Responds to Health Code Closure, Commits to Corrective Action

May 29, 2025

May 29, 2025

Santa Monica Landmark Disputes Rodent Claims but Acknowledges Violations Bay Cities Italian Deli, a Santa Monica staple renowned for its...

(Video) Interviews with Rick Caruso and Elyse Walker, with a Dennis Quaid cameo

May 28, 2025

May 28, 2025

We spoke at the Press Conference to announce plans to reopen Palisades Village Shopping Mall. Actor Dennis Quaid arrives to...

Santa Monica Landlord to Pay $685K in Tenant Harassment Lawsuit

May 28, 2025

May 28, 2025

The settlement, announced Tuesday, resolves allegations of tenant harassment and discrimination under the city’s Tenant Harassment and Housing Anti-Discrimination ordinances...

Film Review: Bring Her Back

May 28, 2025

May 28, 2025

By Dolores Quintana Grief is the price of love.  Danny Philippou and Michael Philippou’s second feature film, Bring Her Back,...

County Assessor Stresses Need For Fire-Affected Households to Update Addresses to Receive Relief Checks

May 28, 2025

May 28, 2025

Assessor’s Office Offers Automatic Tax Relief for Fire-Affected Homeowners Following the destruction caused by wildfires earlier this year, the Los...