Finance: 6 surprising things people always get wrong about American millionaires


More rich Americans identify as Democrats than Republicans.

Miami Beach has more millionaire residents than any other American city.

The habits and tastes of millionaires are fascinating to those of us with less-than-seven figure bank accounts.

According to a report on American millionaires by Wealth Engine, about 7% of the US adult population has a net worth greater than $1 million.

Below, we've highlighted some interesting facts about rich Americans that may surprise you, from the type of car they drive to their political affiliations.

They're not all filthy rich. In fact, 95% have a net worth between $1 million and $5 million.

More rich Americans identify as Democrat (58%) than Republican (38%).

They don't only drive luxury cars. Ford is the second most popular car brand behind Mercedes and ahead of BMW.

New York City and Los Angeles don't have the most millionaire residents. Miami Beach's 33109 ZIP code actually has the highest saturation of millionaires in the US.

Very few own private jets. Only 1% of millionaires own a private plane, but 3% own boats.

They're not bachelors and bachelorettes. Almost 94% of American millionaires are married.