Top 10 States With Most & Fewest Millionaires: 2012

Rankings by Phoenix Global Wealth Monitor show some surprising findings

The stark disparity between America’s wealthiest families and less affluent ones was a major theme of last year’s election campaign.

In 2012, 6 million U.S. households out of some 118.5 million had $1 million or more in investable or liquid assets (excluding sponsored retirement plans or real estate), Phoenix Marketing International reported last month upon the release of its annual ranking of millionaires per capita by state and the District of Columbia.

Those well-to-do families represented about 5% of U.S. households, but controlled more than $22 trillion of liquid wealth, according to David Thompson, managing director of the Phoenix Global Wealth Monitor, which produced the ranking.

“That is a staggering number, and provides further evidence of the concentration of wealth in this country,” Thompson said in a statement.

In the new ranking, three states continued to jostle one another for the top spot with the most millionaires per capita; they have traded places since the 2006 inception of the ranking.

A similar consistency appears at the bottom of the ranking of states with the fewest millionaire households.

Following are the top 10 states for millionaires per capita, and the bottom 10.

Baltimore's port, with inner harbor in background. (Photo: AP)

10 STATES WITH THE MOST MILLIONAIRES:

2012                      Ratio of                               Ranking vs Prior Years
Rank State        Millionaires to                                                                                 
                        Total Households         2011   2010   2009     2008     2007    2006           

1. Maryland          7.31%                         1          2          2          2          2         3

2. Hawaii              7.29%                         2          1          1          1          4         1

3. New Jersey       7.27%                         3          3          3          3          1         2

4. Connecticut      7.21%                         4          4          4          4          3         4

5. Massachusetts  6.51%                         5          5          6          5          5         5

Sign post in Anchorage, Alaska.

2012                     Ratio of                              Ranking vs Prior Years
Rank State       Millionaires to                                                                                
                       Total Households     2011   2010     2009    2008    2007   2006

6. Alaska               6.47%                    6          6          7        10       8        14

7. Virginia              6.36%                    7          7          5         6         6        7

8. California           6.09%                    9          9          9         7        10       8

9. New Hampshire   6.09%                    8          8          8        9         9        11

10. D.C.                 6.02%                   10        10        10        8        20        9

Capitol building in Montgomery, Ala. (Photo: AP)

10 STATES WITH THE FEWEST MILLIONAIRES:

2012                      Ratio of                             Ranking vs Prior Years
Rank State         Millionaires to                                                                                
                       Total Households        2011   2010    2009     2008    2007   2006

42. Alabama           4.06%                   43        43        42        40        40        40

43. North Dakota    4.06%                    45        47        46        46        48        43

44. Montana           4.06%                    42        40        40        42        43        47

45. Tennessee        4.03%                    44        44        44        45        41        41

46. South Dakota    4.02%                    46        45        47        41        47        44

Skyline of Little Rock, Ark. (Photo: AP)

2012                     Ratio of                        Ranking vs Prior Years
Rank State       Millionaires to                                                                                 
                       Total Households     2011   2010   2009     2008     2007   2006

47. Oklahoma        3.99%                 47        46        45        47        46        45

48. Kentucky         3.79%                 48        48        48        48        45        49

49. West Virginia    3.60%                 49        49        49        49        49        50

50. Mississippi        3.49%                 51        51        51        51        51        51

51. Arkansas         3.48%                  50        50        50        50        50        48 

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