How Many Households Have Net Worth Over 2 Million
According to the Federal Reserve's Survey of Consumer Finances, approximately 13.5 million U.S. households had a net worth exceeding 2 million dollars as of 2022. This represents roughly 10 percent of all U.S. households. The figure includes primary residences and excludes pension entitlements.
Who Qualifies as a Millionaire Household
A household is classified as a millionaire when its total assets minus liabilities exceed 2 million dollars. Assets typically include real estate, investment accounts, retirement savings, and business equity. Liabilities include mortgages, auto loans, and credit card balances.
Trends and Distribution of Wealth
The share of households with a net worth over 2 million has grown slowly over the past decade, driven mostly by rising home and equity values. The majority of these households are concentrated in high-cost metropolitan areas and along the coasts. For detailed data tables, see the Federal Reserve's Survey of Consumer Finances at https://www.federalreserve.gov/econres/scf.htm.
What This Means for Financial Planning
Reaching a 2 million dollar net worth places a household in the top decile of the wealth distribution. Financial planners often use this threshold as a benchmark for retirement readiness and long-term wealth building. Consistent saving, diversified investing, and debt management are key factors in achieving this level.
