Maryland Maintains Top Spot in Millionaire Ranking
Phoenix Marketing International’s 2012 Ranking of Millionaires Per Capita by State Has Maryland Edging Hawaii and New Jersey Again
Rhinebeck NY – Phoenix Marketing International, a global marketing services firm, today released its annual ranking of millionaires per capita by state. The results from their Global Wealth Monitor, a service that tracks affluent and high net worth households in the U.S., Canada and Europe, shows that Maryland again edged out Hawaii and New Jersey to maintain its ranking as the state with the highest percentage of millionaires per capita.
Phoenix’s annual market sizing analysis and aggregate wealth rankings shows that approximately 7.31% of Maryland’s households are millionaires, compared to Hawaii’s 7.29% and New Jersey’s 7.27%. Phoenix defines a millionaire household as one with $1 million or more in investable or liquid assets (excluding sponsored retirement plans and real estate). The rest of the top five states in this ranking maintained their position from 2011: Connecticut was #4 with 7.21% and Massachusetts #5 with 6.51%.
Rounding out the top ten states in millionaires per population are Alaska (6.47%), Virginia (6.36%), California (6.09%), New Hampshire (6.09%), and the District of Columbia (6.02%).
“Millionaires in the U.S. now number just over 6 million households out of about 118.5 million, or about 5%, but control over $22 Trillion in liquid wealth” says David Thompson, managing director of the Phoenix Global Wealth Monitor. “That is a staggering number, and provides further evidence of the concentration of wealth in this country” continued Thompson.
Phoenix computes its data on the size of affluent and high net worth U.S. households on a mid-year to mid-year basis. For more detail about this latest research from Phoenix Marketing International please click here.