The number of US households earning at least $1 million more than quadrupled between 2017 and 2022, according to a new study from Point2. While most millionaire homeowners belong to Generation X on the national scale, baby boomers run the millionaire homeowner’s club here in the Portland metro area.
Take a look at the local numbers broken down by generation:
- 36.7% of millionaire homeowners are baby boomers
- 30.1% belong to Gen X
- 14.2% are millennials
- 14% are Gen Z (“mostly due to young adults living with wealthy parents”)
Who are they?
The study found that the “average” millionaire homeowner in the Portland-Vancouver-Hillsboro metro is likely a physician, real estate broker, or sales agent. They own a $1.3 million, five-bedroom home, and their garage accommodates around three cars.
Nationally, the “typical” millionaire homeowner is a 50-year-old chief executive or physician living in San Francisco or New York. Their home is, on paper, similar to the Portland profile — but costs a bit more at $1.8 million.
Fits the bill
Curious about the kind of home our local millionaire owners reside in? Check out these Portland properties for sale.
Skyline Summit estate | 2424 NW Pinnacle Dr. | 5 BD, 3 BA | 4,428 sqft | $1.39 million | Start each day with sweeping views and resort-like amenities at this home near Forest Park.
Slabtown urban oasis | 2069 NW Overton St. | 5 BD, 3 BA | 3,941 sqft | $1.29 million | Live within walking distance of every urban necessity (including top brunch spots) in this renovated 1902 Victorian.
Classic Portland Craftsman | 2427 NE Cesar E. Chavez Blvd. | 4 BD, 3 BA | 3,093 sqft | $1.25 million | Invite your friends and family over for parties or casual get-togethers — this renovated home is ready to host.
