Blog :: 01-2014

New Hampshire - # 8 for Millionaire Households per Capitia.

iStock_000002066568Small millionaire

Every four years, the national news media shows up in New Hampshire, for the first in the nation primary. They like to paint this bucolic image of a state with snowy winter scenes, cows, and a rural population that only wears the obligatory LL Bean plaid wool jacket. While it makes for a nice story, it's and image that is far from the truth and new national statistics prove the point. In 2013, New Hampshire was ranked number 8 in the nation for the most millionaire households per capita.  The New Hampshire population has a high concentration of highly educated and very wealthy residents. New Hampshire's ranking is higher than either California or New York. New Hampshire's wealthy residents are concentrated in the suburbs of Boston and Manchester in the southern tier of the state, in the seacoast region, the lakes region and the towns located near Dartmouth College in the western part of the state.

The national breakdown of millionaire per capita is provided by Phoenix Marketing International. The first column is total households, the second column is households with more than one million in assets, the third column is the ratio of millionaires to total households.

Maryland 2,199,912 169,287 7.7%
New Jersey 3,238,448 242,647 7.49%
Connecticut 1,376,955 100,754 7.32%
Hawaii 466,705 33,520 7.18%
Alaska 269,890 18,209 6.75%
Massachusetts 2,587,868 174,225 6.73%
Virginia 3,137,169 208,187 6.64%
New Hampshire 522,867 33,867 6.48%
Delaware 349,794 21,679 6.20%
District of Columbia 284,867 17,378 6.10%

 

 

 

 

 

 

 

 

The following chart shows household income provided by the American Community Survey from 2006-2010.

Rank Community Median Household Income
1 Bedford, New Hampshire $116,299
2 Amherst, New Hampshire $115,405
3 Hollis, New Hampshire $112,885
4 Brentwood, New Hampshire $112,500
5 Hampton Falls, New Hampshire $112,417
6 Windham, New Hampshire $112,386
7 Stratham, New Hampshire $106,591
8 Newfields, New Hampshire $106,389
9 Bow, New Hampshire $101,731
10 Brookline, New Hampshire $101,722
11 Litchfield, New Hampshire $100,051
12 Chester, New Hampshire $99,970
13 Nottingham, New Hampshire $98,542
14 Mont Vernon, New Hampshire $97,545
15 Kensington, New Hampshire $96,477

 

So the next time you see the national news media, looking silly standing in the snow, with their LL Bean attire, searching for cows that don't exist, remember this is a myth that only they seek to perpetuate.