States with the Highest Millionaire Ratio
If you want to live near the so-called “one percent,” then move to Maryland. Of all 50 states and the District of Columbia has the highest ratio of millionaire households, according to an analysis by Phoenix Marketing International of New York which used data from the Survey of Consumer Finance and Nielsen-Claritas to compute by state the ratio of millionaire households compared with all households. The top 10 states (actually, nine states plus Washington, DC) with the greatest percentage of millionaire households:
- Maryland: 7.55 percent
- Connecticut: 7.4 percent
- New Jersey: 7.39 percent
- Hawaii: 7.35 percent
- Alaska: 7.15 percent
- Massachusetts: 6.98 percent
- New Hampshire: 6.82 percent
- Virginia: 6.64 percent
- Washington, D.C.: 6.32 percent
- Delaware: 6.28 percent
More facts to know:
- There are approximately 6.8 million households in the United States (5.5 percent of all households) that have $1 million or more in investable assets, which include bank accounts and investments, such as stocks, bonds and CDs. It does not include real estate or other property holdings.
- Households with at least $1 million in investable assets hold approximately $20 trillion in total liquid wealth or approximately 59 percent of total liquid wealth in the United States.
- Over the past five-year and 10-year periods, the ratio of millionaire households to total U.S. households has remained relatively flat, up from 4.8 percent in 2006 and 5.1 percent in 2011.
- While overall wealth is growing, the ratio of millionaires to total U.S. households has remained relatively flat, and wealth is more concentrated and shifting geographically.
- Maryland has held the top spot in this survey since 2011.