Millionaires? Connecticut Ranks #3 in the Nation

If you’re looking for millionaires, you’re in the right neighborhood.  More than 6 million households in the United States have liquid assets worth more than $1 million, according to newly released estimates.  And the greatest concentration of wealth in the United States is along the Interstate 95 corridor – including in Connecticut, which ranked #3 in the nation.

The state of Maryland has the highest percentage of millionaires in the U.S., the report by Phoenix Marketing International Global Wealth Monitor found, while New Jersey and Connecticut come in second and third.  In all three states, more than 7 percent of households have a net worth in excess of seven figures.  In Connecticut, 7.32 percent of households hold more than $1 million in assets, just behind 7.70 percent in Maryland 7.49 percent in New Jersey.

Connecticut moved up one slot, ranking fourth in last year’s survey.

Massachusetts, Virginia, New Hampshire, Delaware and the District of Columbia all landed in the top 10. Hawaii, where 7.18 percent of households hold more than $1 million in assets, and Alaska, with 6.75 percent of households, are the only two states outside the Northeast to reach the top 10.

Those high-worth households control almost three-quarters of the liquid wealth in the United States, David Thompson, who runs the Phoenix Global Wealth Monitor, told the Washington Post.

States in the South make up the bulk of the bottom of the list. Fewer than 4 percent of households in Tennessee, Kentucky, West Virginia, Arkansas and Mississippi are worth $1 million or more. Just 3.76 percent of households in Idaho held more than $1 million in assets.

California ranked #11 and New York was #12.  Among the other New England states, Rhode Island was #17, Vermont #18, and Maine #25,  Maine had the second biggest jump among the states, moving up 11 places from a year ago.  North Dakota moved up 14 positions to #29.

The Global Wealth Monitor estimates the number of millionaires based on the Survey of Consumer Finance and Nielsen-Claritas data.