Los Alamos has highest concentration of millionaires in the country

Posted on: November 3rd, 2011 by Nicolas Mendoza No Comments

Los Alamos has the highest proportion of millionaires in the United States, according to a new report by Phoenix Marketing International. The metropolitan area has 885 millionaire households out of a population of 17,950, making 11.7 percent of the Los Alamos population members of a millionaire household.

The report credits the city’s wealth to the Los Alamos National Laboratory, a site of important government research that specializes in weapons and bioscience : “Top chemists, engineers and physicists have pulled in hefty paychecks here since 1943, when the lab launched the Manhattan Project.” The median income is $91,741.

The definition of a “millionaire household” is a household with $1 million in “liquid, investable assets”, which excludes business partnerships, real estate and retirement plans, according to the report. The metropolitan areas with the second and third highest concentrations of millionaires are Naples, Fla. and Bridgeport, Conn.

As might be expected, metropolitan areas near important financial centers and high-tech industrial areas like Silicon Valley rank high on the list, but Los Alamos shows that government also drive concentration of wealthy households. Indeed, the Washington, D.C. metropolitan area ranked fourth, with 179,196 millionaire households and a metropolitan population of just under 5.6 million.

Tags: , , , , ,