Record Numbers of U.S. Households Achieve Millionaire Status in 2016, According to New Spectrem Market Insights Report
CHICAGO, March 22, 2017 – The number of U.S. households with a net worth of $1 million or more, not including primary residence (NIPR), increased by 400,000 to reach a record 10.8 million in 2016, according to Spectrem Group’s Market Insights Report 2017. In every wealth segment, a sizable increase in number was recorded in 2016.
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 in all of the designated wealth segments.
Key findings include:
· In 2016, there were 30.5 million Mass Affluent households with a net worth between $100,000 and $1 million, NIPR. That reflected an increase of 700,000 households from 2015.
· The number of Millionaires, with a net worth between $1 million and $5 million, climbed by 238,000 households to a record 9.38 million.
· The Ultra High Net Worth market, in which net worth is between $5 million and $25 million, grew to 1,264,000 households, an increase of 54,000 from 2015.
· The number of $25 million-plus households reached 156,000, an increase of 11,000 (7.5 percent).
“The record levels of households reflect the significantly higher values of all asset classes post-recession, and the recent record level of the United States markets following the presidential election has added demonstrably to the asset level of most affluent investors,’’ said George Walper, Jr., President of Spectrem Group.
After the notable decrease in affluent households as a result of the recession, all wealth segments have returned to their pre-2008 levels and gone well beyond. There are 1.6 million more Millionaires in America in 2016 than there were in 2007, just before the crash affected wealth levels in almost all American households.
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.