Maryland to 49 Other States: Who Wants to be a Millionaire?

Maryland ranks first among millionaires. Do you feel any richer?

Where does Maryland rank on the list of most millionaires per state? File | Patch
Where does Maryland rank on the list of most millionaires per state? File | Patch

Maryland has more millionaires than any other state, although Virginia and District of Columbia households aren’t too shabby either.

WTOP reports that wealth research firm Phoenix Marketing International’s annual list ranking states by millionaires says 167,287 Maryland households, or 7.7 percent of all households in the state, have investable assets of $1 million or more, the highest concentration of millionaires per capita in the country. It is the third consecutive year Maryland has ranked No. 1.

Virginia ranks No. 7, at 6.64 percent of all households. When the District is included with states, it ranks No. 10, at 6.10 percent of all households, WTOP says.

The Top 10 states for concentration of millionaires per capita, according to Phoenix Marketing International:

•   Maryland, 7.7 percent

•   New Jersey, 7.49 percent

•   Connecticut, 7.32 percent

•   Hawaii, 7.18 percent

•   Alaska, 6.75 percent

•   Massachusetts, 6.73 percent

•   Virginia, 6.64 percent

•   New Hampshire, 6.48 percent

•   Delaware, 6.20 percent

•   District of Columbia, 6.10 percent

Dennis Gilpin January 17, 2014 at 04:09 PM
Maryland has an abundance of lobbyists, politicians, government workers (around Washington ) who are paid handsomely but that shouldn't reflect on the economical situation around the rest of the state. Jobs being lost every day. Good to brag on the amount of "millionaires " but evidently" there this is not a true indicator of the state as a whole.
MoCoRes January 17, 2014 at 04:43 PM
Some government workers make pretty good money, especially if they've been there a while and if they are in upper management positions. But very few are millionaires unless they earned that money working in another field before joining the government, which happens especially with political appointees. It's interesting that many argue Maryland's high taxes are driving the wealthy from the state. Does not appear to be the case according to this. Though I wonder how much of that is old Maryland money while Virginia is getting more of the new wealth.


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