Bonus for Living in a High Cost Area

A survey of Adventist Pastors revealed eight different factors that may allow pastors to retire as millionaires. In this series I’ve been sharing each of these eight factors in bite size pieces. As I conclude this series I am throwing in a bonus; Those who own their own homes in a high cost of living area have an additional advantage in net worth. The average anticipated net worth of those who owned a home in a high cost of living area is $1,717,708.

I discovered this factoid as I was looking at some demographic anomalies with gender and race: 

Average Anticipated Net worth Comparisons by Gender and Ethnicity:

$2,153,846 Female Pastors

$1,992,857 Black Pastors

$1,968,085 Hispanic Pastors

$1,474,854 White Pastors

These numbers seem to be out of sync with traditional understandings of the economic advantage of white men in the United States. While that may be true with the whole population, when it comes to Adventist Pastors, the numbers come out differently. But the explanation probably has nothing to do with race and gender. The most likely explanation has to do with geography. For example, women clergy are much more likely to live in a high cost of living area. 52% of women have owned a home in a high cost of living whereas only 42% of men have owned a home in a high cost of living area. Blacks and Hispanics may also benefit by living in urban areas where houses cost more, while white men are more likely to pastor in rural areas where houses cost less.   

While pastors can’t change their race/ethnicity or gender they can change their zip code. Next time you get a call to another assignment, the geography of that assignment could make a difference in your net worth. If you have a call to a high cost of living area it could increase your net worth; if you have a call to a low cost of living area it could negatively affect your net worth. Of course, it’s a tradeoff. In a high cost of living area, you will most likely have a smaller house than a low cost of living area. On the other hand, on a missional basis, you may have a greater impact in a high cost of living area because the population density is higher. Lots of stuff to keep in mind when that next invitation to move comes along.

Author’s note: These articles are condensed from the full report of the study that was presented at the 2022 CALLED Pastors’ Family Convention and can be downloaded here: If you would like to dialogue with the author you can email him at davegemmell@gmail.com.

Dave Gemmell recently retired from NAD Ministerial and is enjoying spending more time with his family, especially his three grandsons.