Worth a Million

The number of U.S. millionaire households has risen to a record high of 9.3 million as of mid-2006, up 5 percent from 2005, according to TNS Global’s annual Affluent Market Research Program. The millionaires’ mean net worth, not including their primary residence, is $2,167,167 with investable assets of $1,442,841. Their median age is 58 and 45 percent are retired. Forty-six percent own investment real estate, such as a second home, third home, rental properties and undeveloped land. Thirty-four percent have a first mortgage on these residences and 25 percent have second mortgages on these additional residences. The TNS study identified 10 counties with the highest number of millionaire residents: Ranking No. 1 is Los Angeles County with 268,136; No. 2, Cook County, Ill. (171,118); No. 3, Orange County, Calif. (116,157); No. 4, Maricopa County, Ariz. (113,414); No. 5, San Diego County, Calif. (102,138); No. 6. Harris County, Texas (99,504); No. 7, Nassau County, N.Y. (79,704); No. 8, Santa Clara County, Calif., (74,824); No. 9, Palm Beach County, Fla. (71,221); and No. 10, King County, Ore. (68,390).

Source: Associated Press (05/01/07)
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