Study: 10.8 Million Households Worth at Least $1 Million

There were nearly 11 million households in the United States last year worth more than $1 million, a record.

According to the results of a study conducted by the Spectrem Group, the number of households in the group increased by 400,000 and stood at 10.8 million by year's end.

Other key points in the data:

• There were 30.5 million households with a net worth between $100,000 and $1 million last year, 700,000 more than there were in 2015.
• There were a record 9.38 million households with a net worth between $1 million and $5 million.
• There were 1,264,000 households worth between $5 million and $25 million.
• 156,000 households were worth $25 million or more.

"The record levels of households reflect the significantly higher values of all asset classes post-recession, and the recent record level of the United States markets following the presidential election has added demonstrably to the asset level of most affluent investors," Spectrem Group president George Walper Jr. said.

Barron's reported last week Maryland and Connecticut have the highest number of millionaires per capita.

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