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Which US States Have the Most Millionaires?

Joe Raedle, Getty Images

While many in the US are feeling the pinch of the recession, others are enjoying unprecedented boom times.

So says Phoenix Marketing International, which just released its annual roundup of the states with the most millionaires and found that for the second year in a row, the overall number of millionaire households in the US actually went up.

In 2011, there were 5.94 million households with $1 million or more in investable or liquid assets, an increase of 6.8 percent over last year. Overall, 5.08 percent of US households claim millionaire status, somewhat short of the all-time high of 5.25 percent in 2007.

David Thompson, managing director of Phoenix Marketing, said “all of the top 10 states increased their millionaire ratios during the past year, which underscores that the richest states keep getting richer,” and that “small states with large concentrations of highly educated professionals and business owners are key ingredients to growing wealth.”

Here’s this year’s list of the 10 states with the most millionaires per capita:

  1. Maryland: 157,779 out of 2,186,613 households
  2. Hawaii: 33,461 out of 464,352 households
  3. New Jersey: 231,456 out of 3,220,564 households
  4. Connecticut: 98,392 out of 1,379,723 households
  5. Massachusetts: 162,619 out of 2,538,474 households
  6. Alaska: 16,239 out of 254,103 households
  7. Virginia: 195,006 out of 3,113,444 households
  8. New Hampshire: 31,159 out of 514,053 households
  9. California: 750,686 out of 12,487,377 households
  10. District of Columbia: 15,603 out of 265,558 households


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