For the first time since 2010, Maryland does not rank as the top state for millionaires per capita. Maryland, which fell to No. 4, was replaced on this year’s list by New Jersey.
When compared with states, the District now ranks No. 2 for millionaires.
Phoenix Marketing International’s annual Phoenix Wealth and Affluent Monitor survey found that U.S. millionaire households have risen to 7.7 million. Over the past 12 months, the number of households in the U.S. with over $1 million in assets has increased by 534,000.
In the past 10 years since the financial crash in 2008, the number of millionaire households in the U.S. has increased by more than 2 million.
Millionaire households are defined as those with at least $1 million in investable assets, and does not include the value of real estate.
D.C. also had the highest growth of millionaires per capita last year, rising from 6.57 percent in 2017 to 8.94 percent in 2018. D.C. jumped nine spots on the 2018 list compared with 2017.
Click here to read the rest of the article written by Jeff Clabaugh over at WTOP