Rich Millennials Love NJ More Than Almost Any Other State
The number of rich millennials here in the Garden State ranks near the top of states in the nation.
New Jersey, it turns out, is quite the haven for rich millennials. As a matter of fact, there is only one state in the nation where there are more rich millennials, and that is Massachusetts.
So, according to Money Talks News, New Jersey ranks as the second highest state in the nation for rich millennials. There are a lot of rich millenials among us in the Garden State and the statistics are pretty jaw-dropping.
In the report, rich is defined as a household income of $200,000, and the actual ages considered millennials for the study (25-44 years old) may leave some of the younger milleninials out of the study. Let’s take a look at some of the numbers that are responsible for the high ranking for the Garden State.
The percentage of millennial homeowner households making over $200,000 is a whopping 13%.
The total millennial households in New Jersey is nearly one million, sitting at 969,537.
There are an amazing 127,867 households in the Garden State with a household income north of $200,000.
Just to give you an idea just how impressive that 13% of millennial households considered rich number really is, in comparison, the Garden State's number is 62% higher than that of New Hampshire, which ranks as the #10 state for millennials in the study.
Our beloved neighbor. New York, also did very well in the study, ranking as the #4 state for rich millenials in the nation. The Big Apple has 12% of the millennial population considered rich, just a single percentage point behind us.