Maryland ranks No. 1 in millionaires

WASHINGTON — Maryland is for millionaires.

For the sixth year in a row, the Old Line State was ranked No. 1 when it comes to the number of millionaires per capita. That’s according to the Wealth and Affluent Monitor, published annually by the Phoenix Marketing International research firm.

Maryland edged out New Jersey, which came in second. Rounding out the top five were Connecticut, Hawaii and Alaska.

Virginia ranked No. 8.

The group said concentrations of millionaires are highest in “blue states” — states won by Democratic candidates in at least three out of the past four presidential elections.

Alaska, which came in at No. 5 was the only red state to land in the top 10.

“Given all of the talk about rich Republicans, we would have expected to see more red states on the list,” said David Thompson, the marketing group’s managing director of its affluent practice, in a statement announcing this year’s rankings.

Massachusetts, New Hampshire, Delaware and California rounded out the top 10.

This year’s rankings marked the first time since at least 2013 that D.C. itself fell out of the top 10 when it comes to millionaires per capita.

Nationwide, the total number of millionaires increased by 6 percent to 7.2 million households. The number of multimillionaires — those with $5 million or more — grew even more last year, increasing by 8 percent to more than 1.1 million people.

  • 1. Maryland
  • 2. New Jersey
  • 3. Connecticut
  • 4. Hawaii
  • 5. Alaska
  • 6. Massachusetts
  • 7. New Hampshire
  • 8. Virginia
  • 9. Delaware
  • 10. California

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