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Inside Wealth

US States With the Most Millionaires 2011

Where The Top 5% Live

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 U.S. states attract the most high-income families. This information is being published first on CNBC.com.

The overall number of millionaire households in the U.S. has increased nationwide for the second time in two years. In 2011, there were 5.94 million millionaire households, compared with 5.56 million households a year earlier, an increase of approximately 6.8 percent. Nearly every U.S. state saw an increase its total number of millionaires, adding thousands of households to millionaire status, according to the new numbers from Phoenix Marketing.

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, 5.08 percent of U.S. households claim millionaire status, up from last year but still short of the 2007 high of 5.25 percent.

David Thompson, managing director of Phoenix Marketing, notes that “this is the closest it’s ever been between the top two states, " adding that "all of the top 10 states increased their millionaire ratios during the past year, which underscores that the richest states keep getting richer.”

In past reports, Thompson has noted 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, which states are home to the most millionaires? Click ahead to find out!

By Paul Toscano
Posted 26 October 2011

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 in 2011: 5.88%
Millionaire households: 15,603
Total households: 265,558

Percentage in 2010: 5.53%
Millionaire households: 14,533

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 in 2011: 6.01%
Millionaire households: 750,686
Total households: 12,487,377

Percentage in 2010: 5.66%
Millionaire households: 716,316

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 in 2011: 6.06%
Millionaire households: 31,159
Total households: 514,053

Percentage in 2010: 5.79%
Millionaire households: 29,790

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 in 2011: 6.26%
Millionaire households: 195,006
Total households: 3,113,444

Percentage in 2010: 5.94%
Millionaire households: 180,638

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 in 2011: 6.39% 
Millionaire households: 16,239
Total households: 254,103

Percentage in 2010: 5.97%
Millionaire households: 14,805

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 in 2011: 6.41%
Millionaire households: 162,619
Total households: 2,538,474

Percentage in 2010: 5.98%
Millionaire households: 150,884

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 in 2011: 7.13%
Millionaire households: 98,392
Total households: 1,379,723

Percentage in 2010: 6.65%
Millionaire households: 89,647 

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 in 2011: 7.19%
Millionaire households: 231,456
Total households: 3,220,564

Percentage in 2010: 6.69%
Millionaire households: 212,396

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

2. 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 in 2011: 7.21%
Millionaire households: 33,461 
Total households: 464,352

Percentage in 2010: 6.93%
Millionaire households: 30,793

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

1. 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 in 2011: 7.22%
Millionaire households: 157,779
Total households: 2,186,613

Percentage in 2010: 6.79%
Millionaire households: 144,686

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