Maryland is No. 1 on a new list ranking the proportion of millionaire households in the country, according to a recent analysis.

The study, released Thursday by Phoenix Marketing International of New York, looks at the ratio of millionaire households to total households. Virginia ranked No. 8, and the District followed at No. 9.

The top nine states and the District include:

1. Maryland, 7.55 percent.

2. Connecticut, 7.4 percent.

3. New Jersey, 7.39 percent.

4. Hawaii, 7.35 percent.

5. Alaska, 7.15 percent.

6. Massachusetts, 6.98 percent.

7. New Hampshire, 6.82 percent.

8. Virginia, 6.64 percent.

9. Washington, D.C., 6.32 percent.

10. Delaware, 6.28 percent.


The findings are based on mid-2016 data and use other sources, including the Survey of Consumer Finance and Nielsen-Claritas data. Phoenix Marketing does marketing work in the financial services, health care and other arenas.


The analysis, called the annual “Phoenix Wealth & Affluent Monitor,” said there are roughly 6.8 million households in the country that had $1 million or more in “investable assets” as of mid-2016, a 4 percent increase from the same time period a year before.

Investable assets include both bank accounts and investments, such as stocks, bonds and CDs. The measure does not include real estate or other property holdings.

In its findings, the company said that although overall wealth is growing, the “ratio of millionaires to total U.S. households has remained relatively flat and wealth is more concentrated and shifting geographically,” according to a company statement.


Maryland has held the top spot in this survey since 2011. For the District, it has bounced around, according to the analysis. It ranked No. 9 in 2006 and then dropped to No. 20 at the start of the financial crisis. It has “bounced back to its pre-recession ranking at No. 9″ this year, the analysis found.


David Thompson, a managing director of the affluent practice at Phoenix Marketing International, said in a statement, “The trends we’ve seen over the past 10 years show a deeper and wider wealth divide as families in the near- and emerging affluent segments fall further behind financially.”

Correction: The proportion of millionaire households in Delaware has been corrected. This story initially contained an incorrect number that was based on a wrong number in the report.