Interactive Map: Millionaires By State Ranking 2016
February 3, 2017
Millionaires By State Ranking 2016
To see where your state falls on the Phoenix Marketing Millionaires By State Ranking for 2016, move your mouse over the state. Click on the astate and you will get its 2016 ranking, a ratio of millionaire households to the overall population (i.e., a 0.06 ration is 6%), the total household population, and total millionaires.
To purchase any of the market sizing extracts, please follow this link.
The Market Sizing Extracts from Phoenix Marketing International provide estimates of the number of affluent and high net worth (HNW) households in the U.S. Each state extract contains eight affluent and HNW market segments, with our estimates of the number of households in each segment for the overall state and by metro area (CBSA) within each state. See examples below:
About The Phoenix Wealth & Affluent Monitor and Market SizingThe Phoenix Wealth & Affluent Monitor (formerly Global Wealth Monitor) forms the core of our affluent and high net worth consumer research at Phoenix Marketing International. WAM is a syndicated marketing-research platform that continuously tracks the needs, attitudes and behaviors of affluent and high net worth (HNW) investors in North America and Europe.
The WAM-U.S. Market Sizing Report is one of the components of the yearly subscription to the program. Market sizing estimates are provided at the State level as well as by Core-Based Statistical Areas (CBSAs). A Core-Based Statistical Area is comprised of Metropolitan and Micropolitan Statistical Areas which are defined as follows:
- Metropolitan statistical areas have at least one urbanized area of 50,000 or more population, plus adjacent territory that has a high degree of social and economic integration with the core as measured by commuting ties.
- Micropolitan statistical areas have at least one urban cluster of at least 10,000 but less than 50,000 population, plus adjacent territory that has a high degree of social and economic integration with the core as measured by commuting ties.
Currently, there are 942 Metropolitan and Micropolitan statistical areas in the United States.
The WAM sizing estimates are developed using a combination of sources including the Survey of Consumer Finance (SCF), as well as Nielsen-Claritas. The SCF provides the framework and allows us to determine the general distribution of households by their level of investable assets. Estimates are further refined using the age and income distributions provided by Claritas. Together, these inputs enable us to estimate the number of households by investable assets at a national level. Formulas are then created by applying national estimates to closely linked variables developed by the Census. This allows us to obtain estimates at smaller units of geography. Please note that the numbers provided in this report are approximations, not actual number of households. They can best be used for comparative purposes.
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