There are 618,000 millennial millionaires in America, and they’re sitting on a nice pile of assets.
Think a net worth ranging from $1 to $2.49 million, three properties, and a BMW. That’s according to a new report by Coldwell Banker.
The Coldwell Banker Global Luxury program worked with wealth intelligence data and research firm WealthEngine to analyze the lifestyles of millennial millionaires, from wealth creation and property investments to spending trends. It defined millennial millionaires as those ages 23 to 37 with a net worth of more than $1 million.
The report found that the average millennial millionaire is married, lives in California, and is on the hunt for real estate that is affordable and within walking distance of the center of action.
Meet the typical American millennial millionaire, according to highlights from the report.