Percentages of Millionaire Households by State

by MB on January 12, 2008

The Phoenix Affluent Marketing Service recently released an analysis showing the number of millionaire households as a percentage of all households on a state by state basis. New Jersey had the highest percentage of millionaire household (7.12%). Maryland and Connecticut were second and third, respectively.

Phoenix defines a millionaire household as one with $1 million or more in investable or liquid assets.

Here is the 2007 portion of the list.

Rank State Total Households $1MM+ Percentage Millionaire Households
1 New Jersey 3,210,592 228,442 7.12%
2 Maryland 2,143,128 151,756 7.08%
3 Connecticut 1,358,170 95,028 7.00%
4 Hawaii 438,893 29,365 6.69%
5 Massachusetts 2,493,707 156,208 6.26%
6 Virginia 2,979,225 186,576 6.26%
7 Delaware 333,263 20,274 6.08%
8 Alaska 240,842 14,594 6.06%
9 New Hampshire 517,725 30,918 5.97%
10 California 12,461,651 720,733 5.78%
11 Colorado 1,841,538 105,351 5.72%
12 Minnesota 2,026,451 115,587 5.70%
13 Illinois 4,760,856 269,098 5.65%
14 Michigan 3,936,519 214,069 5.44%
15 Washington 2,489,441 133,812 5.38%
16 Nevada 952,864 51,153 5.37%
17 Rhode Island 424,216 22,550 5.32%
18 Florida 7,308,878 387,886 5.31%
19 New York 7,235,413 381,786 5.28%
20 District of Columbia 261,792 13,776 5.26%
21 Arizona 2,297,734 120,116 5.23%
22 Vermont 253,582 13,163 5.19%
23 Pennsylvania 4,916,948 252,326 5.13%
24 Wisconsin 2,228,294 112,692 5.06%
25 Utah 801,821 39,670 4.95%
26 Georgia 3,439,800 170,160 4.95%
27 Wyoming 207,248 10,160 4.90%
28 Ohio 4,578,456 224,305 4.90%
29 Oregon 1,456,021 71,046 4.88%
30 Kansas 1,075,666 51,580 4.80%
31 Indiana 2,468,351 118,306 4.79%
32 Texas 8,333,041 393,640 4.72%
33 Iowa 1,191,013 56,235 4.72%
34 Nebraska 697,600 32,896 4.72%
35 Missouri 2,330,315 109,256 4.69%
36 Maine 557,043 25,960 4.66%
37 New Mexico 750,428 34,610 4.61%
38 South Carolina 1,704,376 78,285 4.59%
39 North Carolina 3,496,649 160,307 4.58%
40 Alabama 1,841,006 81,994 4.45%
41 Tennessee 2,415,110 107,355 4.45%
42 Idaho 540,847 23,652 4.37%
43 Montana 382,778 16,511 4.31%
44 Louisiana 1,632,824 69,296 4.24%
45 Kentucky 1,699,590 70,720 4.16%
46 Oklahoma 1,406,412 57,789 4.11%
47 South Dakota 306,176 12,563 4.10%
48 North Dakota 262,501 10,763 4.10%
49 West Virginia 759,937 30,374 4.00%
50 Arkansas 1,112,643 43,533 3.91%
51 Mississippi 1,108,629 42,703 3.85%

You can get the list for the last three years here.

{ 2 trackbacks }

Where the money is in America...still NE! - Early Retirement Forums
April 24, 2008 at 3:19 pm
Where the money is in America...still NE! - Page 2 - Early Retirement Forums
April 29, 2008 at 11:00 am

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: