The number of U.S. households with a net worth of $1m reached a record 10.4 million in 2015, according to Spectrem Group’s Market Insights Report 2016.
The total is an increase of approximately 300,000 households, up from 10.1 million in 2014.
Spectrem Group’s annual report analyzes the number of households in America based on net worth, from the mass affluent to the $25m-plus segment. Among the findings was that in 2015, 29.8 million mass affluent households with a net worth between $100,000 and $1m, not including primary residence (NIPR), reached a record 10.4 million in 2015,.
The number of millionaires, with a net worth between $1m and $5m, reached 9.1 million, while the ultra-high-net-worth market,, which Spectrem counts as households whose net worth is between $5m and $25m, NIPR, grew to 1,210,000, an increase of 42,000. The number of $25 million-plus households grew by 3,000 to 145,000.
“Despite ongoing concerns about market volatility and the direction of the U.S. economy, the number of affluent American households expanded in 2015,” said George Walper, Jr., president of Spectrem Group. “This report underscores that wealth creation continues to occur in the United States, with the number of millionaire households growing by more than 3% in 2015.”
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