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Millionaires in America:
All 50 States Ranked

31. Florida

Millionaire households: 427,824

Total households: 8,173,428

Concentration of millionaires: 5.23%

Median income for all households: $48,900

Median home value: $166,800

Florida’s popularity as a retirement destination helps boost its concentration of millionaires. Indeed, an hour’s drive north of Walt Disney World, you’ll find The Villages, a sprawling retirement haven with one of the highest number of millionaires per capita in the country.

The Sunshine State is well-known for its absence of a state income tax, which helps put it into Kiplinger’s top 10 most tax-friendly states. The cost of living is 3.6% below the national average.

With a net worth of $25.7 billion, Thomas Peterffy, founder, chairman and CEO of Interactive Brokers Group (IBKR), is Florida’s richest citizen.