New Jersey’s Top 10 Ranking in Millionaire Households and What It Is

New Jersey has more millionaire households than most states, and a recent report puts the Garden State in the top 10 in that category.

Let’s start with the definition of a millionaire household. According to Statista, this is a household with $1 million (or more) in investable assets.

New Jersey’s millionaire households

The number of households in New Jersey that fit into this category is staggering. If you think you know how many rich people there are in the Garden State, think again.

According to calculations from 2020, the number of millionaire households is over 300,000. The exact number is 323,443.

If each of these houses had investable assets of exactly $1 million, the bare minimum in this category, we’re talking about over $323 billion in assets in the Garden State.

How rich are New Jersey millionaires?

To put it more simply, that’s enough money to buy a $6 cup of coffee for over 53 billion people.

Read more: New Jersey’s Richest Celebrity

However, you would have to buy seven cups of coffee for every person since there are only 8 billion people in the world.

In other words, you could buy a cup of coffee for everyone on the planet for $6 and have enough change to buy the population of about seven other Earths a cup as well.

New Jersey is rich, but not the richest

And while it’s in the billions, multiple sources say there are five billionaires living in New Jersey. That means each of them is worth a billion dollars.

As a reminder, New Jersey is not even close to being the state with the most millionaire households. California has almost 824,000 more than us.

New Jersey is the state with the seventh-largest millionaire households in America.

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