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Kiplinger: Southwest Connecticut has 4th highest concentration of millionaires

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A water scene in Greenwich, Conn. File Photo

A water scene in Greenwich, Conn. File Photo

A new roundup, released by Kiplinger rates the Stamford Metropolitan Statistical Area (which has the same footprint as Fairfield County) as one of the nation’s hot homes for millionaires.

According to Kiplinger, 8.5 percent of residents in the metro area are millionaires, which Kiplinger defines as people who “boast liquid, investable assets of $1 million or more, excluding real estate, employer-sponsored retirement plans and business partnerships.”

Southwest Connecticut’s percentage is significantly higher than the nation as a whole, where an average of about 5 percent  make the cut as millionaires. That’s about 6.1 million millionaires nationwide; here in Fairfield County, Kiplinger says the number is 29,065. Check out which other corners of the country made the top 10 list:

Here’s what Kiplinger had to say about southwestern Connecticut’s spot on the list:

The southwest coast of Connecticut, stretching from Bridgeport to the border with New York, provides a perfect (and preppy) suburban base for high-powered commuters, many of whom work and play in nearby Manhattan. Nearly 35,000 residents, or 8.2% of the local labor force, are employed in management positions, earning a median wage of about $62 per hour. And 16.8% of households report an annual income of $200,000 or more; only 4.6% of the nation’s households pull in that much each year. Those high paychecks can help cover the costs of living in one of the most expensive places in the U.S. Typical homes in affluent small towns such as Old Greenwich and Darien go for $1 million.

 

Categories: General
Maggie Gordon

One Response

  1. pt24601 says:

    How the f is this news?