States of wealth

Which places have the high­est per­cent­ages of mil­lion­aires?

South Florida Sun-Sentinel (Sunday) - - Money - By Jeff Haden |

eing a mil­lion­aire is still a fairly ex­clu­sive club.

Kiplinger re­cently re­ported that 5.8 per­cent of the coun­try — about 7

house­holds — are mil­lion­aires. Kiplinger de­fined “mil­lion­aire” as some­one hav­ing at least $1 mil­lion in in­vestable as­sets, so it doesn’t in­clude homes, em­ployer-spon­sored pen­sion plans or busi­ness part­ner­ships.

So which states, and the District of Columbia, have the high­est per­cent­ages of mil­lion­aires? New York and Cal­i­for­nia may have high to­tal num­bers of mil­lion­aires, but on a per capita ba­sis, nei­ther is in the top five.

Let’s find out who is. And while we’re at it, we take a look at the cost of liv­ing for each state, in case you want to move some­where that al­lows you to save more on your way to $1 mil­lion. In some cases (Hi, New York!), your money doesn’t go as far. In oth­ers, a mil­lion is worth a lot more.

4.03 per­cent. (Cost of liv­ing: 19 per­cent be­low na­tional av­er­age.)

51. Mis­sis­sippi:

4.20 per­cent. (Cost of liv­ing: 9.9 per­cent be­low na­tional av­er­age.)

4.25 per­cent. (Cost of liv­ing: 15 per­cent be­low na­tional av­er­age.)

50. West Vir­ginia: 49. Arkansas:

4.48 per­cent. (Cost of liv­ing: 12.3 per­cent be­low na­tional av­er­age.)

48. Ken­tucky:

4.61 per­cent. (Cost of liv­ing: 13.4 per­cent be­low na­tional av­er­age.)

47. Alabama:

4.67 per­cent. (Cost of liv­ing: 13.2 per­cent be­low na­tional av­er­age.)

46. Ten­nessee:

4.81 per­cent. (Cost of liv­ing: 11.7 per­cent be­low na­tional av­er­age.)

45. Idaho:

4.83 per­cent. (Cost of liv­ing: 7.1 per­cent be­low na­tional av­er­age.)

44. South Carolina:

4.86 per­cent. (Cost of liv­ing: 10.2 per­cent be­low na­tional av­er­age.)

43. Louisiana:

4.88 per­cent. (Cost of liv­ing: 11.7 per­cent be­low na­tional av­er­age.)

4.94 per­cent. (Cost of liv­ing: 7.2 per­cent be­low na­tional av­er­age.)

42. North Carolina: 41. New Mex­ico:

4.98 per­cent. (Cost of liv­ing: 7.1 per­cent be­low na­tional av­er­age.)

40. Mon­tana:

4.98 per­cent. (Cost of liv­ing: 13 per­cent be­low na­tional av­er­age.)

39. Ok­la­homa:

4.99 per­cent. (Cost of liv­ing: 12.3 per­cent be­low na­tional av­er­age.)

38. In­di­ana:

5.01 per­cent. (Cost of liv­ing: 14.3 per­cent be­low na­tional av­er­age.)

37. Mis­souri:

5.06 per­cent. (Cost of liv­ing: 9.4 per­cent be­low na­tional av­er­age.)

36. South Dakota:

5.15 per­cent. (Cost of liv­ing: at na­tional av­er­age.)

5.18 per­cent. (Cost of liv­ing: 9.5 per­cent above na­tional av­er­age.)

35. Ne­vada: 34. Maine:

5.19 per­cent. (Cost of liv­ing:

14 per­cent be­low na­tional av­er­age.)

5.2 per­cent. (Cost of liv­ing: 11.1 per­cent be­low na­tional av­er­age.)

33. Ohio: 32. Ge­or­gia:

5.23 per­cent. (Cost of liv­ing: 3.6 per­cent be­low na­tional av­er­age.)

31. Florida:

5.29 per­cent. (Cost of liv­ing: at na­tional av­er­age.)

5.35 per­cent. (Cost of liv­ing: 14.1 per­cent be­low na­tional av­er­age.)

30. Ari­zona: 29. Michi­gan:

5.40 per­cent. (Cost of liv­ing: 7.3 per­cent be­low na­tional av­er­age.)

28. Wis­con­sin:

5.43 per­cent. (Cost of liv­ing: 11.3 per­cent be­low na­tional av­er­age.)

27. Kansas:

5.44 per­cent. (Cost of liv­ing: 10 per­cent be­low na­tional av­er­age.)

26. Ne­braska:

5.45 per­cent. (Cost of liv­ing: 4.1 per­cent above na­tional av­er­age.)

25. Ore­gon:

5.6 per­cent. (Cost of liv­ing:

11.9 per­cent be­low na­tional av­er­age.)

5.66 per­cent. (Cost of liv­ing: 8.7 per­cent be­low na­tional av­er­age.)

24. Iowa: 23. Texas:

5.77 per­cent. (Cost of liv­ing: 1.1 per­cent be­low na­tional av­er­age.)

5.88 per­cent. (Cost of liv­ing: 12.8 per­cent above na­tional av­er­age.)

22. Pennsylvania: 21. Ver­mont:

6 per­cent. (Cost of liv­ing: 2.9 per­cent be­low na­tional av­er­age.)

20. North Dakota:

6.07 per­cent. (Cost of liv­ing:

3 per­cent be­low na­tional av­er­age.)

6.14 per­cent. (Cost of

19. Utah: 18. Illi­nois:

liv­ing: 4 per­cent above na­tional av­er­age.)

6.15 per­cent. (Cost of liv­ing: 35.9 per­cent above na­tional av­er­age, skewed heav­ily by Man­hat­tan at 138 per­cent above na­tional av­er­age. Ouch.)

17. New York:

6.22 per­cent. (Cost of liv­ing: 12.5 per­cent above na­tional av­er­age.)

16. Rhode Is­land:

6.24 per­cent. (Cost of liv­ing: 4.4 per­cent be­low na­tional av­er­age.)

15. Wy­oming:

6.47 per­cent. (Cost of liv­ing: .8 per­cent above na­tional av­er­age.)

14. Colorado:

6.51 per­cent. (Cost of liv­ing: 7.9 per­cent above na­tional av­er­age.)

13. Wash­ing­ton:

6.57 per­cent. (Cost of liv­ing: 4.3 per­cent be­low na­tional av­er­age.)

12. Min­nesota:

6.57 per­cent. (Cost of liv­ing: 55.7 per­cent above na­tional av­er­age.)

6.61 per­cent. (Cost of liv­ing: 33 per­cent above na­tional av­er­age.)

11. District of Columbia: 10. Cal­i­for­nia:

6.62 per­cent. (Cost of liv­ing: .6 per­cent be­low na­tional av­er­age.)

9. Delaware:

6.98 per­cent. (Cost of liv­ing: 1.7 per­cent be­low na­tional av­er­age.)

8. Vir­ginia:

7.36 per­cent. (Cost of liv­ing: 14.7 per­cent above na­tional av­er­age.)

7. New Hamp­shire:

7.41 per­cent. (Cost of liv­ing: 20.7 per­cent above na­tional av­er­age.)

7.50 per­cent. (Cost of liv­ing: 18.5 per­cent above na­tional av­er­age.)

6. Mas­sachusetts: 5. Alaska:

7.57 per­cent. (Cost of liv­ing:

26.9 per­cent above na­tional av­er­age.)

7.75 per­cent. (Cost of liv­ing: 18.5 per­cent above na­tional av­er­age.)

4. Hawaii: 3. Con­necti­cut:

7.86 per­cent. (Cost of liv­ing: 13.4 per­cent above na­tional av­er­age.)

2. New Jer­sey:

7.87 per­cent. (Cost of liv­ing: 21.4 per­cent above na­tional av­er­age.)

1. Maryland:

Ted Lerner of Chevy Chase, Md., the developer and founder of Lerner En­ter­prises and the Wash­ing­ton Na­tion­als owner, is the rich­est per­son in Maryland. He sits at No. 294 on Forbes’ rich­est peo­ple list with a net worth of $5.3 bil­lion.

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