Where are all the millionaires moving to?
You might be surprised to find that the areas with the strongest growth in their wealthy populations aren’t necessarily states with major metropolises that boast high-end department stores.
An annual ranking of millionaire households per capita conducted by market research firm Phoenix Marketing International found that America’s millionaires are starting to spread their wealth … geographically, that is.
There were about 53,000 more millionaire households in 2013 than in 2012, bringing the total to some 6.15 million. States that surged in the rankings include Maine, which jumped 11 spots to number 25, and Louisiana, which climbed 10 spots to number 32. The standout was North Dakota, which leapt 14 places to number 29.
It wasn’t good news for everyone, though: Nevada, Arizona, Florida, Idaho and Michigan all lost significant footing.
According to the rankings, which draw on data from the U.S. Census Bureau, the Federal Reserve and Nielsen Co., the top 10 states with the most millionaires per capita are (in descending order):
2. New Jersey
8. New Hampshire