7.5% of NJ households are millionaires

NJ Spotlight, Feb. 14, 2014

There are 242,647 households in New Jersey with more than $1 million in liquid — or investible — assets, according to the Phoenix Global Health Monitor, which tracks wealth worldwide. That translates into 7.49 percent of households in New Jersey, ranking it second in the country after Maryland, which has 7.7 percent per capita millionaires.

New Jersey moved up one spot in the ranking this year, and has enjoyed being among the top three states in the country with the highest per capita millionaires since 2006. Although its spot at the top of the rankings has remained pretty steady over the years, the percentage of millionaires has gone up. In 2006, which was before the Great Recession, the percentage was 6.46 percent.

Rounding out the top five states with the highest percentage of millionaires this year are Connecticut, ranked third; Hawaii, which dropped from number one to four; and Alaska.