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A woman who studied 600 millionaires discovered that most of the superrich have surprisingly affordable homes. Here's what some of those look like.

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The key to building wealth? Living in a home you can easily afford.

That's according to Sarah Stanley Fallaw, the director of research for the Affluent Market Institute. She's an author of "The Next Millionaire Next Door: Enduring Strategies for Building Wealth," in which she surveyed more than 600 millionaires in America.

She found that no factor plays as big a role in accumulating money as where you choose to live. Most of the millionaires she studied had never purchased a home that cost more than triple their annual income. Even some high-profile, ultra-rich people — from Mark Zuckerberg to Serena Williams— have purchased homes well below their means.

To compile the list below, we compared each person's net worth with the cost of their homes. We didn't have the data to determine their net worth at the time of purchase, so we adjusted the house purchase price for inflation using an inflation calculator to compare that with their net worth today.

For example, the billionaire investor Warren Buffett bought his home in 1958 for $31,500. Adjusted for inflation, that's equivalent to $274,357 in today's dollars, or just 0.0003% of his $82.1 billion net worth.

Everyone on this list owns a home less than 5% of their net worth.

SEE ALSO: A woman who studied 600 millionaires discovered where you choose to live has 2 effects on your ability to build wealth

DON'T MISS: Inside the lives of surprisingly frugal millionaires and billionaires, from businessmen like Warren Buffett and Richard Branson to A-list celebs like Jay Leno and Jennifer Lawrence

Sarah Stanley Fallaw, the director of research for the Affluent Market Institute, studied more than 600 millionaires for her book, "The Next Millionaire Next Door: Enduring Strategies for Building Wealth."

Source: "The Next Millionaire Next Door"



She found that your neighborhood plays a huge role in how much you save and spend.

Source: "The Next Millionaire Next Door"



If you live in a pricey home in an affluent neighborhood, you're more likely to mirror your neighbor's consumption habits and less likely to accumulate wealth over time.

Source: "The Next Millionaire Next Door"



See the rest of the story at Business Insider

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