Millionaires Move to ‘Mayberry’

Wall Street Journal: “The real-life “Mayberry” is adding millionaires at the fastest pace in the country. As Andy Griffith’s birthplace, Mount Airy, N.C., claims to be the inspiration for the town featured in the 1960s television classic “The Andy Griffith Show”—but folks there have more than just southern charm in common the late actor. They’re also increasingly millionaires.”

“The Mount Airy metro area’s population of millionaire households grew by 332, or almost 30%, between June 2014 and June 2015, the quickest rate in the country, according to a report Phoenix Marketing International released Tuesday.”

“Just 3.8% of households have a million dollars or more in assets, below the national average of 5.4%. But its impressive growth of high-net-worth families likely reflects that well-off retirees are moving there in search of quintessential small-town life, said Randy Collins, Chamber of Commerce president.”

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“Among states, North Dakota recorded the fastest growth in millionaires in June 2015 from a year earlier, increasing more than 10%. The growth reflects rising wealth tied to the oil industry, which has slowed sharply in the past six months. “

“Maryland had the highest concentration of millionaires among states, accounting for 7.7% of households. Connecticut, New Jersey and Hawaii followed. Mississippi had the smallest concentration of millionaires and is the only state where less than 4% of households have $1 million or more in assets.”

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