Maryland has highest concentration of millionaires in nation

Maryland is for millionaires, according to wealth research firm Phoenix Marketing International.

Its annual list ranking states by millionaires says 167,287 Maryland households, or 7.7 percent of all households have investable assets of $1 million or more, the highest concentration of millionaires per capita in the nation.

It is the third consecutive year Maryland has ranked No. 1, bumping Hawaii from the top spot in 2011.

Virginia ranks No. 7, at 6.64 percent of all households. When the District is included with states, it ranks No. 10, at 6.10 percent of all households.

Recent Census Bureau data showed nearly half of the nation’s 20 wealthiest counties, based on median household income, are in the D.C. region, and the U.S. Department of Commerce says the Washington metro ranks fourth in the nation for per capita income.

The Top 10 states for concentration of millionaires per capita, according to Phoenix Marketing International:

  • Maryland, 7.7 percent
  • New Jersey, 7.49 percent
  • Connecticut, 7.32 percent
  • Hawaii, 7.18 percent
  • Alaska, 6.75 percent
  • Massachusetts, 6.73 percent
  • Virginia, 6.64 percent
  • New Hampshire, 6.48 percent
  • Delaware, 6.20 percent
  • District of Columbia, 6.10 percent
Read the full story from the Washington Business Journal.

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