CHICAGO, March 22, 2018 – According to Spectrem Group’s Market Insights Report 2018, the number of U.S. households reporting net worth between $1 million and $5 million, not including primary residence (NIPR), grew by nearly 600,000 last year to nearly 10 million. This represents a 6.2 percent increase, and is the largest year-over-year growth reported by the segment since 2009. Sizable increases were also recorded across all other wealth segments.
Spectrem Group’s annual report analyzes the number of households in America based on net worth, from the Mass Affluent ($100,000 as the minimum) to the $25 million plus segment. The report also includes information on the investment habits and behaviors of investors based on advisor usage and occupation.
Key findings include:
- In 2017, there were 31 million Mass Affluent households with a net worth between $100,000 and $1 million, NIPR. That is an increase of half a million households from 2016.
- The number of Millionaires, those with a net worth between $1 million and $5 million, climbed to 9.98 million, an increase of almost 600,000 compared with 2016.
- The Ultra High Net Worth market, in which net worth is between $5 million and $25 million, grew to 1,348,000 households, an increase of 84,000 from 2016.
- There are now 172,000 households with a net worth exceeding $25 million. That reflects an increase of 16,000 households from the 2016 total, an increase of more than 10 percent from the 2016 total of 156,000.
“The combination of record financial market performance and accelerating economic growth in 2017 have continued to increase the population of affluent Americans,” said George H. Walper Jr., President of Spectrem Group. “It is particularly notable that the number of $25 million-plus households has grown by more than 10 percent in one year. There are now 55,000 more $25 million plus households in 2017 than there were just five years earlier in 2012.”
Additional information on Spectrem studies can be found at Spectrem.com.
About Spectrem Group: Spectrem Group (www.spectrem.com) strategically analyzes its ongoing primary research with investors to assist financial providers and advisors in understanding the Voice of the Investor.
Market Insights 2018 Product Information: https://spectrem.com/Content_Product/2018-market-insights.aspx
George H. Walper, Jr.
© 2018 Spectrem Group