Number of Wealthy Households Continues to Increase
At the end of 2021 there were more than 12 million Millionaires in the United States. This compares to only 10.5 Millionaires just two years ago. This information is based on Spectrem Group’s annual market sizing of wealth households in the U.S.
The number of wealthy households in all wealth groups increased in 2021 despite the pandemic fears. The wealthiest households grew the most. Those households with more than $25 million of net worth NIPR (not including primary residence) spiked with a 17.8 percent increase. Millionaire households increased 8.1 percent. UHNW households (those with $5-24 million NIPR) increased 10.4 percent. The number of Mass Affluent households ($100,000 to $1million NIPR) grew to 33.1 million at year end 2021.
Despite pandemics, political and social volatility, and even wars, the market continues to grow and create new Millionaires each year.