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Accounting

Which States Have the Most Millionaires?

Of the more than 119 million households in the U.S., about 6 million, or five percent, of them include a millionaire, according to a new report. But where do they live?

Isaac M. O'Bannon

Jan. 22, 2014

Of the more than 119 million households in the U.S., about 6 million, or five percent, of them include a millionaire, according to a new report. But where do they live?

The Global Wealth Monitor survey, produced by Phoenix Marketing International, recently ranked each state in order of how many millionaire households they have per capita. The top of the list may not be what many would expect.

Maryland remains at number one for a second year, with 7.7 percent of its households attaining millionaire status. New Jersey was a close second, with 7.49 percent, followed by third place Connecticut at 7.32 percent.

  1. Maryland 7.7% of households
  2. New Jersey 7.43%
  3. Connecticut 7.32%
  4. Hawaii 7.18%
  5. Alaska 6.75%

The state with the fewest millionaire households per capita is Mississippi, which had about 3.63 percent, just edging below Arkansas, Idaho, West Virginia and Kentucky.

The states with the most millionaires overall are more likely in-line with conceptions. The largest populated states in the country top this list:

  1. California
  2. Texas
  3. Florida
  4. New York
  5. Pennsylvania

The full report, which includes the ranking of all states for the past eight years, is available in PDF format.,