Inside the ZIP code that houses the most millennial millionaires in America, where luxury homes start at $500,000 and the gig economy is growing

More American millennial millionaires live in Traverse City, Michigan, than any other ZIP code in the US, according to a report by Coldwell Banker .
Traverse City has seen an urban revival in the past decade, with a walkable downtown , good food and drink, and cultural offerings.
Its gig economy is also evolving, attracting start-up entrepreneurs and those who want to work remotely.
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You won't find the biggest hub for wealthy millennials in a Silicon Valley ZIP code.

Instead, look to ZIP code 49685: Traverse City, Michigan. That's according to a new report by Coldwell Banker , which looked at the top 10 ZIP codes where America's 618,000 millennial millionaires live.

The Coldwell Banker Global Luxury program worked with wealth intelligence data and research firm WealthEngine to analyze the lifestyles of millennial millionaires, from wealth creation and property investments to spending trends. It defined millennial millionaires as those ages 23 to 37 with a net worth of more than $1 million.

Located along the shores of Lake Michigan, Traverse City has undergone an "urban renaissance," according to the report. It has a lot to offer: year-round recreational activities, strong food and drink, and cultural experiences in the form of many festivals. It's also seeing growth in its start-up scene.

As a result, the city is attracting many former natives of the area and young entrepreneurs. Here's a look at Traverse City.

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