Historically, wealth has been concentrated in New York and California. This is still true for 2020; however, it is beginning to shift. The lifting of mobility constraints, combined with changing residential preferences and other financial considerations, has hastened relocations and fueled an exodus out of dense metropolises. Some experts have nicknamed these places “Zoom towns.” The emergence of these markets points to the growing diversification and decentralization of wealth in the U.S.
For more on what’s driving these trends, read the complete 2020 report, “A Look at Wealth: Affluent Trailblazers.”