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US States with the Most Millionaires 2010

States with the Most Millionaires
Each year, analyzes national data on millionaire households to reveal which states attract the most high-income families.Data from Phoneix shows a list of states with the highest percentage of millionaires by population, while the overall number of millionaire households in the US has increased nationwide for the first time in two years. In 2009, there were 5.14 million millionaire households, compared to 5.56 million in 2010, an increase of approximately 7.6% that saw nearly every US state incr
Source: Phoenix Marketing International

Each year, Phoenix Marketing Internationalanalyzes national data on millionaire households to reveal which US states attract the most high-income families.

Data from Phoneix shows a list of states with the highest percentage of millionaires by population, while the overall number of millionaire households in the US has increased nationwide for the first time in two years. In 2009, there were 5.14 million millionaire households, compared to 5.56 million in 2010, an increase of approximately 7.6% that saw nearly every US state increase its total number of millionaires.

The study defines millionaire households as those with $1 million or more in investable or liquid assets (excluding sponsored retirement plans and real estate). Overall, 4.78% of US households claim millionaire status, a fall from the 2007 high of 5.25%.

David Thompson, Managing Director of Phoenix Marketing International, notes that “small states with large concentrations of highly educated professionals and business owners are key ingredients to growing wealth,” and that states with a large proportion of millionaires tend to share these characteristics.

So, where are millionaires the most prevalent? Click ahead to find out!

By Paul Toscano
Posted 29 Sept 2010

15. Illinois
Percentage of households: 5.05% Millionaire households: 242,536 Total households: 4,800,176 Percentage in 2009: 4.67% Millionaire households: 223,636

Percentage of households: 5.05%
Millionaire households: 242,536
Total households: 4,800,176

Percentage in 2009: 4.67%
Millionaire households: 223,636

14. Rhode Island
Percentage of households: 5.10% Millionaire households: 20,873 Total households: 409,575Percentage in 2009: 4.67% Millionaire households: 19,272
Photo: Getty Images

Percentage of households: 5.10%
Millionaire households: 20,873
Total households: 409,575

Percentage in 2009: 4.67%
Millionaire households: 19,272

13. Washington
Percentage of households: 5.18% Millionaire households: 133,582 Total households: 2,577,274 Percentage in 2009: 4.81% Millionaire households: 122,520

Percentage of households: 5.18%
Millionaire households: 133,582
Total households: 2,577,274

Percentage in 2009: 4.81%
Millionaire households: 122,520

12. New York
Percentage of households: 5.25% Millionaire households: 381,197 Total households: 7,263,927 Percentage in 2009: 4.81% Millionaire households: 345,892

Percentage of households: 5.25%
Millionaire households: 381,197
Total households: 7,263,927

Percentage in 2009: 4.81%
Millionaire households: 345,892

11. Delaware
Percentage of households: 5.36% Millionaire households: 18,412 Total households: 343,322 Percentage in 2009: 4.93% Millionaire households: 340,003
Photo: Getty Images

Percentage of households: 5.36%
Millionaire households: 18,412
Total households: 343,322

Percentage in 2009: 4.93%
Millionaire households: 340,003

10. District of Columbia
Percentage of households: 5.53% Millionaire households: 14,533 Total households: 262,976 Percentage in 2009: 5.00% Millionaire households: 13,028
Photo: Getty Images

Percentage of households: 5.53%
Millionaire households: 14,533
Total households: 262,976

Percentage in 2009: 5.00%
Millionaire households: 13,028

9. California
Percentage of households: 5.66% Millionaire households: 716,316 Total households: 12,653,856 Percentage in 2009: 5.28% Millionaire households: 662,735

Percentage of households: 5.66%
Millionaire households: 716,316
Total households: 12,653,856

Percentage in 2009: 5.28%
Millionaire households: 662,735

8. New Hampshire
Percentage of households: 5.79% Millionaire households: 29,790 Total households: 514,667 Percentage in 2009: 5.34% Millionaire households: 27,562

Percentage of households: 5.79%
Millionaire households: 29,790
Total households: 514,667

Percentage in 2009: 5.34%
Millionaire households: 27,562

7. Virginia
Percentage of households: 5.94% Millionaire households: 180,638 Total households: 3,043,091 Percentage in 2009: 5.51% Millionaire households: 166,596
Photo: Getty Images

Percentage of households: 5.94%
Millionaire households: 180,638
Total households: 3,043,091

Percentage in 2009: 5.51%
Millionaire households: 166,596

6. Alaska
Percentage of households: 5.97% Millionaire households: 14,805 Total households: 248,009 Percentage in 2009: 5.39% Millionaire households: 13,348
Photo: Michael Melford | The Image Bank | Getty Images

Percentage of households: 5.97%
Millionaire households: 14,805
Total households: 248,009

Percentage in 2009: 5.39%
Millionaire households: 13,348

5. Massachusetts
Percentage of households: 5.98% Millionaire households: 150,884 Total households: 2,521,928 Percentage in 2009: 5.50% Millionaire households: 137,792
Photo: Gavin Heller | Photographer's Choice | Getty Images

Percentage of households: 5.98%
Millionaire households: 150,884
Total households: 2,521,928

Percentage in 2009: 5.50%
Millionaire households: 137,792

4. Connecticut
Percentage of households: 6.65% Millionaire households: 89,647 Total households: 1,347,693 Percentage in 2009: 6.15% Millionaire households: 82,837
Photo: Getty Images

Percentage of households: 6.65%
Millionaire households: 89,647
Total households: 1,347,693

Percentage in 2009: 6.15%
Millionaire households: 82,837

3. New Jersey
Percentage of households: 6.69% Millionaire households: 212,396 Total households: 3,175,894 Percentage in 2009: 6.15% Millionaire households: 197,694
Photo: Driendl Group | Photodisc | Getty Images

Percentage of households: 6.69%
Millionaire households: 212,396
Total households: 3,175,894

Percentage in 2009: 6.15%
Millionaire households: 197,694

2. Maryland
Percentage of households: 6.79% Millionaire households: 144,686 Total households: 2,129,773 Percentage in 2009: 6.26% Millionaire households: 133,299

Percentage of households: 6.79%
Millionaire households: 144,686
Total households: 2,129,773

Percentage in 2009: 6.26%
Millionaire households: 133,299

1. Hawaii
Percentage of households: 6.93% Millionaire households: 30,793 Total households: 444,202 Percentage in 2009: 6.41% Millionaire households: 28,363
Photo: Driendl Group | Photodisc | Getty Images

Percentage of households: 6.93%
Millionaire households: 30,793
Total households: 444,202

Percentage in 2009: 6.41%
Millionaire households: 28,363