To all the single Torontonians who want rich partners, look no further than around the block.
A recent study from Seeking.com, a luxury dating app for the wealthy, revealed the top 25 North American destinations to find eligible millionaires. Toronto ranked first among Canadian cities, and third in North America right behind New York and Los Angeles.
5.4 million millionaires who newly joined the site made up the sample size from 2014 to June 2023. Users on the site are allowed to input one location on their profile, while premium members can add up to three — so it’s possible that some of those Toronto millionaires aren’t here full-time.
Since 2019 — or the beginning of the pandemic — the company has watched millionaires migrate from large cities with traditional wealth to locations with better tax incentives and quality of life. Toronto is one of those destination hotbeds that has seen an influx in migration, slowly adding an abundance of crypto millionaires and entrepreneurs (or so we can assume).
The study also showed that Vancouver and Montreal made the top 25, although Vancouver has shown a decrease in millionaire density since 2019. The study also found an increase in millionaires in Seattle, so that might be Vancouver millionaires making the move across the border. A similar migration pattern was reported from Toronto to New York, to a lesser extent.
Nashville is among the new millionaire hubs, alongside Miami, Austin and Phoenix, which have newly cracked the top 10.
As the cost of living continues to rise in Toronto, it seems like marrying rich might be our best option. In May, a report by LowestRates.ca found that the cost of living for homeowners has increased by almost 60 per cent in one year, and 22 per cent for renters.
If you’re stuck in a crappy living situation in Toronto, swiping until you find the right millionaire partner may be your new solution.