The number of households with $1 million or more in net worth, not including primary residence, grew by almost 500,000 to 10.1 million last year, according to Spectrem Group’s Market Insights 2015 report.
There were 29,500,000 mass affluent households with a net worth between $100,000 and $1 million, according to the report.
The number of households with a net worth between $1 million and $5 million grew by 400,000 to 8,790,000, a record high, said Spectrem.
The ultra-high-net-worth market—households with a net worth between $5 million and $25 million—grew to 1,168,000, an increase of 60,000 households.
There were 142,000 households with a net worth of $25 million or more, an increase of 10,000.
“The number of wealthy American households are at their highest point ever, continuing the recovery from 2008 and 2009,’’ says George H. Walper Jr., president of Spectrem Group. “In particular, the investors with over $1 million net worth is now at 10.1 million, breaking the 10 million threshold for the first time.”