Saturday, May 5, 2007

Where the Millionaires Live

Where the Millionaires Live
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 of millionaire households 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

The TNS study identified 10 counties with the highest number of
millionaire residents.

Los Angeles County with 268,136
Cook County, Ill., 171,118
Orange County, Calif., 116,157
Maricopa County, Ariz., 113,414
San Diego County, Calif., 102,138
Harris County, Texas, 99,504
Nassau County, N.Y., 79,704
Santa Clara County, Calif., 74,824
Palm Beach County, Fla., 71,221
King County, Ore., 68,390

Source: Associated Press (05/01/07)

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