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

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 by defining a millionaire household. Statista says it's a household with 1 million dollars (or more) of investible assets.

New Jersey's Millionaire Households

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

Get our free mobile app

From figures calculated in 2020, the number of millionaire households exceeds 300,000. The exact number is 323,443.

If each of those homes had investible assets of exactly one million dollars, the bare minimum in this category, we are talking about over $323 billion in riches in the Garden State.

How Rich Are New Jersey's Millionaires?

To put it in simpler terms, that's enough money to buy a $6 cup of coffee for over 53 billion people.

Read More: New Jersey's Richest Celebrity

You'd have to buy seven cups of coffee for each person, however, since there are only 8 billion people in the world.

Another way of looking at it is you could buy a $6 cup of coffee for everyone on the planet, and have enough change to buy the population of about 7 other Earths a cup, too.

New Jersey Is Rich But Not The Richest

And while we're in the billions, several sources say five billionaires live in New Jersey That means each of them has a value of one thousand million dollars.

For the record, New Jersey isn't even close to the state with the most millionaire households. California has almost 824,000 more than we do.

New Jersey is ranked as the state with the 7th most millionaire households in America.