Montana is now 40th on a list (.pdf) that ranks states by its percentage of millionaires, up two spots from 2008.
The number Montana millionaires has actually decreased over the last year, from 15,149 to 14,474; and the percentage statewide has dropped from 3.93 percent to 3.71 percent.
The report, released earlier this month by Phoenix Marketing International, found that the percentage of millionaires nationwide has been dropping dramatically:
“While the top states in millionaire percentages were little changed from the previous year, overall, the market downturn has taken its toll on the ranks of millionaires in most states,” says David Thompson, Managing Director of the Phoenix Affluent Market. “Since June of 2007, we estimate that the number of millionaires nationally has declined by 14%,” notes Thompson. Phoenix estimates that there are now about 5.1 million households in the U.S. that qualify as millionaires, down from nearly six million two years ago.
Where millionaires live (by percentage of total population)
1) Hawaii 6.41%
2) Maryland 6.26%
3) New Jersey 6.22%
4) Connecticut 6.15%
5) Virginia 5.51%
40) Montana 3.71%
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