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These states have the most millionaires per capita

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The nation's political capital is also becoming its wealth capital.

Two of the top 10 states for millionaires per capita are in the Washington, D.C., area, with the district itself also making the list, according to a new study.

Maryland once again topped this year's rankings, created by the Wealth & Affluent Monitor and published by Phoenix Marketing International. Fully 170,140 of the state's 2.25 million households are millionaires, shaking out to 7.55 percent.

Virginia ranked No. 8, with 6.64 percent of its households being millionaires. The District of Columbia came in 9th at 6.32 percent.

The rankings are the latest evidence that the U.S. government — with its burgeoning army of lobbyists, lawyers, analysts and investors — is becoming more of a wealth hub.

Measured in total numbers, California, Texas and New York dominated the millionaire count. California has 832,849 millionaire households; Texas 526,977; and New York 444,616.

The biggest gainers from 2015 to 2016 were Utah (17th), Michigan (29th), Arizona (30th) and Ohio (31st). All four moved up five slots. The biggest decliner was New Mexico, which dropped 11 places to 43rd. Its ranking has been dwindling due to weakness in oil and gas markets.

Phoenix Marketing International defines millionaire households as those with $1 million or more in investible assets, which include education/custodial accounts, individually-owned retirement accounts, stocks, options, bonds, mutual funds, managed accounts, hedge funds, structured products, ETFs, cash accounts, annuities, and cash value life insurance policies.

Here are the top five and bottom five states in millionaires per capita. The rankings include Washington, D.C.

1. Maryland – 7.55 percent
2. Connecticut – 7.4 percent
3. New Jersey – 7.39 percent
4. Hawaii – 7.35 percent
5. Alaska – 7.15 percent

47. Alabama – 4.46 percent
48. Kentucky – 4.32 percent
49. West Virginia – 4.22 percent
50. Arkansas – 4.08 percent
51. Mississippi – 3.77 percent

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