The Wall Street Journal’s Real Time Economics blog has an interesting chart up showing the year-over year change in households with $1 million or more in investable assets. Citing data from a report by Phoenix Marketing International, they show that Mount Airy, NC, the real-life “Mayberry” of the Andy Griffith show, is adding millionaires at the fastest rate in the nation. The report says that Mount Airy’s metro population of millionaire households grew by 332, or nearly 30%, between June 2014 & June 2015.
The annual study of where the wealthy live counts a household as a millionaire if it has more than $1 million in investable assets, which includes stocks, bonds and savings accounts but excludes the value of real estate and funds tied up in retirement accounts. The country as a whole added 6.5 million millionaire households in the middle of last year from the middle of 2014, a growth rate of about 4%. That was the fastest clip since 2011, reflecting strong gains in the stock market during the period studied for the report.
Be sure to click on the link for the full article as the graphic below is interactive with each state showing its corresponding percentage.