U.S. Millionaire Households Hit New High

Affluent investors benefit from real estate and stock market gains, Spectrem reports

 

Number of affluent households by net worth, 1997-2013. Source: Spectrem GroupMillionaire households in the U.S. finally succeeded last year in clambering past the 2007 prerecession high of 9.2 million to 9.6 million households, Spectrem reported Thursday.

This was an increase of some 600,000 from 2012.

The number of millionaire households, in terms of net worth excluding primary residence, had been creeping up since 2008, Spectrem noted in its Affluent Market Insights Report 2014.

The new report was based on monthly online research Spectrem conducted with more than 12,000 investors with net worth of at least $100,000 not including primary residence.

It showed that all wealth segments experienced large increases from 2012 to 2013.

Mass-affluent households, with a net worth between $100,000 and $1 million, grew to 29 million, an increase of 500,000 investors over 2012.

Growth trends in $100,000+ and $25M+ households, 2007-2013. Source: Spectrem Group

Households with a net worth between $1 million and $5 million reached 8.4 million, 440,000 more than in 2012.

Ultrahigh-net-worth households, with a net worth between $5 million and $25 million, reached 1.1 million, an increase of 85,000 since 2012.

The number of the wealthiest households, with a net worth of more than $25 million, hit 132,000 in 2013, up 15,000 from a year earlier.

“Most of the financial damage done by the recession has been erased by recent record-high markets in 2013 as well as continued rebound in the real estate markets,” Spectrem Group president George Walper said in a statement. “In terms of the affluent investor, it is fair to say they have finally recovered from the economic downturn.”

Sixty percent of investors with a net worth of $5 million or more intended to invest in equities in 2014, according to Spectrem, and 31% of investors with a net worth between $100,000 and $1 million intend to do so.

More than half of the $5 million-plus investors indicated they were willing to invest outside the U.S., with a growing number showing interest in China.

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