How Many Millionaires Live in South Dakota?
A million bucks might not be what it once was, but it's still more money than many will see in their entire lifetime. But just how many millionaires are in South Dakota anyway? A recent study has the results and the answer may surprise you.
The study (conducted by the Wall Street Journal) showed the number of households in each state that hold at least $1 million in assets.
According to the data collected by the Wall Street Journal, there are currently 17,772 households in the Mount Rushmore State which hold at least $1 million in investable assets. That's 777 more people from when the same study was done 5 years ago. In fact, the study shows that comes out to a little over 5 percent of all households in the state of South Dakota.
How does South Dakota compare to some of its neighbors? In Nebraska, around 5.4 percent of households hold 1 million dollars in investable assets. In the state of Iowa, it's around 5.6 percent of households. In Minnesota, the number jumps up to around 6.5 percent. And in the state of North Dakota, the number is around 6 percent.
Which states hold the highest percentage of millionaires? Maryland tops the list at 7.87 percent, followed by New Jersey, Connecticut, Hawaii, and Alaska.
The state of Mississippi is at the very bottom of the list, at 4 percent, followed by West Virginia, Arkansas, Kentucky, and Alabama.
For the full list, and to see where the states were ranked back in 2016, visit the article at the Wall Street Journal.
Story Source: Wall Street Journal
James J Hill House