“In luxury real estate, it's not just about listing a home—it's about creating a captivating story and vision,” says top realtor Michael LaFido. Of course, this is true for many other things in luxury retail—from expensive cars to extravagant vacations.
More and more Americans are splurging on a lavish lifestyle. And we are not just talking about the 7.43 Mn millionaires who have been busy building their wealth. Even regular people opt to self-indulge once in a way, may it be during a sale, for a special moment, or as an occasional treat.
All in all, 70% of U.S. consumers, according to Business Wire, make a luxury purchase each year. This is more so in some places than others.
A large majority of people who want to indulge in something lavish still prefer to check things out in person before they take out their wallets. For them, nothing can compare to physically examining a purchase, especially when it involves a high price tag.
But where would they first go to find information? Usually, the internet (and often, the Oracle of Google).
With this in mind, Refermate’s research team looked at thousands of search terms like “luxury apartments” and “luxury jewelry” to understand Americans’ affinity toward extravagance. Some states seem to stand out in this analysis based on the highest number of search queries per capita.
Here are the places that came out on top.
It’s no surprise that the state of New York has long been a hub for all things extravagant.
It features nearly every renowned fashion designer and luxury brand you can think of. And the uber-posh real estate in places like Hudson Yards, SoHo, Tribeca, Greenwich Village, and the Upper East Side will leave anyone in awe (this is where you are likely to catch celebrities and other millionaires and billionaires in ultra-premium penthouses).
So, it is little wonder that New York appears at the top of Refermate’s most luxury-obsessed states list. Residents here make, on average, 10,735 online queries (per 100,000 people) about high-end living. And what do they search for? Mostly “luxury family hotels”, “upscale apartments near me”, and “Louis Vuitton pocketbook”.
New Yorkers certainly seem to have expensive tastes by any measure. This is obvious when you consider the state’s ranking as one of the richest in America. At $105,458, New York has the second-highest GDP per capita among all states.
Last year, Hawaii ranked as the most expensive state to live in, with a cost of living index of 193.3 (that is nearly double the national average). To put this in context, groceries in Hawaii cost around 50% more than in most other states in the U.S., and housing costs go at a premium of three times the national level.
And Hawaii ranks high for median income, too, earning $83,173 per household.
So, residents in this state are pretty used to spending high prices, which is probably why they are searching for things like “best resort near me”, “luxury cruise vacations”, and “LV bags”. They closely follow New Yorkers, making 10,264 search queries (per 100,000 people per month) about indulging in a swanky lifestyle.
Clearly, Hawaii is not just about laid-back living. It is a place to treat yourself to all that life has to offer at a high price tag.
New Jersey appeared in third place among the richest American states in 2024. Unlike other metropolitan areas like New York, it offers a mix of urban and suburban comforts, with far less congestion and a more peaceful lifestyle. The state also has some of the best schools in the country, and its residents are among the most educated.
And cities like Avalon, Spring Lake, and Short Hills, in particular, cater to plush lifestyles with premium real estate that attract the richest. Avalon, for instance, is known for stunning beachfronts, high-end shopping, chic restaurants, and upscale homes that sell at a median price of $4,495,000.
So, it is hardly shocking that New Jersey residents regularly search the internet for luxury purchases. They collectively conduct 8,806 searches per 100k people each month, with “LV bags”, “Louis Vuitton pocketbook”, and “Cartiers” being the top keyphrases.
Residents of Nevada are responsible for 8,682 luxury-related monthly searches per 100,000 people, which places them in the fourth spot. They mostly seem obsessed with search terms like “Maseratis”, “LV purse”, and “Cartiers”, based on the frequently searched queries.
The state’s riches come from several sources. One is silver. Nevada is the second-largest in America for silver production (which is how it got its name, the “Silver State”). But gold is even bigger there. Nevada is the biggest gold producer in the U.S. and one of the largest in the world (producing around 5% of the total global output).
Tourism is another key income generator for the state. With its posh hotels, glitzy entertainment venues, and luxury brands, Las Vegas is a central attraction in Nevada for high spenders.
“Hermes bag”, “Burberry sneakers”, and “Maison Goyard bag” are what most Californians are curious about on the internet. They come in fifth place for the highest searches for lavish keywords (per 100k people), with 8,500 search queries per month.
Residents in California no doubt have a liking for expensive things. The state is the richest in the country based on GDP (and the sixth richest based on GDP per capita). It also ranks fourth on the cost of living index.
For years, California has been a major hub for venture capital and tech startups, drawing in investors and industry high-flyers from other states and overseas. And places like Beverly Hills and Bel Air have been highly sought-after neighborhoods for luxury real estate for the ultra-rich.
What’s more, from exclusive wellness retreats and golf courses to private yachts and vineyards, California has everything under the sun to cater to an extravagant lifestyle.
Americans’ obsession with all things luxury is more prominent in states like New York, Hawaii, New Jersey, Nevada, and California. Massachusetts, Florida, Maryland, Connecticut, and Georgia closely follow them, with a relatively high number of internet searches for terms related to upscale living.
But these states are not really outliers. They are simply leading a growing trend of extravagance among American consumers.
Data shows an uptick in demand for luxury purchases, which has been steadily on the rise over the past few years. And with inflation easing, we can expect more Americans to splurge, at least during special occasions and sales.