New Jersey has highest percentage of millionaires

The Phoenix Affluent Marketing Service announced New Jersey has become the state with the largest percent of millionaires to total households. Ranked second past two years, New Jersey vaulted past Hawaii, which fell to fourth in the 2007 rankings. Phoenix’s annual market sizing analysis and aggregate wealth rankings shows that New Jersey’s ratio of millionaires to total households rose to 7.12%, up from 6.5% in 2006. Maryland is now in second place at 7.08%, up from 6.2% in 2006. Connecticut is third, with a ratio of 7.0%, up from 6.2% a year ago. Hawaii’s ratio of 6.7% was unchanged from a year ago. Phoenix defines a millionaire household as one with 1 million or more in investable or liquid assets.

Rounding out the top ten for 2007: Massachusetts remains in fifth place; Virginia rose to sixth from seventh past Delaware, which fell one spot; Alaska leaped to eighth from fourteenth a year ago; ninth-place New Hampshire, was up from eleventh in 2006; and California came in tenth, down two spots from 2006.