US States With the Most Millionaires 2011

Each year, Phoenix Marketing International analyzes national data on millionaire households to reveal which U.S. states attract the most high-income families. This information is being published first on CNBC.com.

The overall number of millionaire households in the U.S. has increased nationwide for the second time in two years. In 2011, there were 5.94 million millionaire households, compared with 5.56 million households a year earlier, an increase of approximately 6.8 percent. Nearly every U.S. state saw an increase in its total number of millionaires, adding thousands of households to millionaire status, according to the new numbers from Phoenix Marketing.

More from CNBC.com:  • Most Expensive College Towns  • What $1 Million Buys You  • The Most Expensive States to Live In

The study defines millionaire households as those with $1 million or more in investable or liquid assets (excluding sponsored retirement plans and real estate). Overall, 5.08 percent of U.S. households claim millionaire status, up from last year but still short of the 2007 high of 5.25 percent.

David Thompson, managing director of Phoenix Marketing, notes that "this is the closest it's ever been between the top two states," adding that "all of the top 10 states increased their millionaire ratios during the past year, which underscores that the richest states keep getting richer."

In past reports, Thompson has noted that "small states with large concentrations of highly educated professionals and business owners are key ingredients to growing wealth," and that states with a large proportion of millionaires tend to share these characteristics.

So, which states are home to the most millionaires?

1. Maryland

Percentage of households: 7.22% 
Millionaire households: 157,779 
Total households: 2,186,613 

Percentage in 2010: 6.79% 
Millionaire households: 144,686 

Percentage in 2009: 6.26% 
Millionaire households: 133,299

2. Hawaii

Getty Images

Percentage of households: 7.21% 
Millionaire households: 33,461  
Total households: 464,352 

Percentage in 2010: 6.93% 
Millionaire households: 30,793 

Percentage in 2009: 6.41% 
Millionaire households: 28,363

3. New Jersey

Getty Images

Percentage of households: 7.19% 
Millionaire households: 231,456 
Total households: 3,220,564 

Percentage in 2010: 6.69% 
Millionaire households: 212,396 

Percentage in 2009: 6.15% 
Millionaire households: 197,694

4. Connecticut

Getty Images

Percentage of households: 7.13% 
Millionaire households: 98,392 
Total households: 1,379,723 

Percentage in 2010: 6.65% 
Millionaire households: 89,647  

Percentage in 2009: 6.15% 
Millionaire households: 82,837

5. Massachusetts

Getty Images

Percentage of households: 6.41% 
Millionaire households: 162,619 
Total households: 2,538,474 

Percentage in 2010: 5.98% 
Millionaire households: 150,884 

Percentage in 2009: 5.50% 
Millionaire households: 137,792

6. Alaska

Percentage of households: 6.39%  
Millionaire households: 16,239 
Total households: 254,103 

Percentage in 2010: 5.97% 
Millionaire households: 14,805 

Percentage in 2009: 5.39% 
Millionaire households: 13,348

7. Virginia

Getty Images

Percentage of households: 6.26% 
Millionaire households: 195,006 
Total households: 3,113,444 

Percentage in 2010: 5.94% 
Millionaire households: 180,638 

Percentage in 2009: 5.51% 
Millionaire households: 166,596

8. New Hampshire

Percentage of households: 6.06% 
Millionaire households: 31,159 
Total households: 514,053 

Percentage in 2010: 5.79% 
Millionaire households: 29,790 

Percentage in 2009: 5.34% 
Millionaire households: 27,562

9. California

Percentage of households: 6.01% 
Millionaire households: 750,686 
Total households: 12,487,377 

Percentage in 2010: 5.66% 
Millionaire households: 716,316 

Percentage in 2009: 5.28% 
Millionaire households: 662,735

10. District of Columbia

Getty Images

Percentage of households: 5.88% 
Millionaire households: 15,603 
Total households: 265,558 

Percentage in 2010: 5.53% 
Millionaire households: 14,533 

Percentage in 2009: 5.00% 
Millionaire households: 13,028