The top 1% of Americans have enough money to buy 99% of US homes

More than 13% of the nation’s real estate assets are held by the wealthiest 1% of Americans—a reality that has significantly boosted their fortunes over the past two years amid soaring interest rates and housing shortages. A recent Redfin analysis found that the 1% has become so wealthy that their combined net worth could theoretically buy nearly every home in the country.

The report further determined that the top 0.1% alone could afford to purchase every single home across the nation’s 25 largest metro areas, from New York City to San Antonio.

For everyday Americans, homeownership remains a distant dream, while for the wealthiest, it is an enormous windfall.

Billionaire and Oracle co-founder Larry Ellison, for example, owns a real estate portfolio valued at $1 billion.

“It’s a striking illustration of wealth concentration in America that the top 1% could, in theory, buy every home in the country—without taking on debt—while millions of households struggle just to buy or hold onto one,” said Chen Zhao, Redfin’s head of economic research, in the report.

This stark imbalance comes at a time when an increasing number of Americans believe homeownership is no longer an attainable goal.

According to the Federal Reserve, the threshold to enter the 1% club requires a minimum net worth of $11.2 million. Approximately 1.3 million American households meet this benchmark, with a combined net worth of $49.2 trillion. To put that figure into perspective, the total value of 100 million U.S. homes stands at $49.7 trillion.

These two staggering figures formed the basis of Redfin’s report, which utilized Federal Reserve data and the estimated value of 98 million U.S. properties. While net worth and aggregate home values are not directly linked, Redfin’s analysis highlighted how the two figures have largely tracked together over the past two decades.

According to Redfin, the total value of U.S. homes exceeded the collective wealth of the top 1% from 2000 until the 2008 housing and financial crisis. However, the wealth of the 1% surpassed home values throughout the 2010s—until a sharp drop-off after 2020, when COVID-19 disruptions hit the heavily invested portfolios of the ultra-rich.

But America’s wealthiest have since rebounded. The richest 0.1% of Americans saw their wealth surge by $4.4 trillion—a 25% increase—in just two years, according to Redfin.

If the 0.1% pooled only the $4.4 trillion gained between 2022 and 2024, they could buy every home in the Chicago, Atlanta, Boston, and Houston metro areas. Their two-year gains alone surpass the combined wealth of the bottom 50% of Americans.

tastytrade logo+
Get the best broker for options trading and earn Unusual Whales discounted! in cash with an eligible account deposit at tastytrade. Get an Unusual Whales bonus when you deposit $2000. Offer expires 3/31/25. Certain restrictions, terms and conditions apply.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.