According to an examination of a 2020 consumer financial database, Marylanders need to have a net worth of $2.824 to be in the state's top one percent of wealthy residents. The study also revealed that 308.069 Marylanders have a net worth of $1 million or more.
The median net worth of all homeowners was $376,000, according to the examination.
Windfall a company that describes itself as "on a mission to help data-driven organizations more effectively identify, understand, and engage affluent consumers," released the results Thursday, January 21. The analysis used population estimates from the 2019 U.S. Census Bureau and net worth estimates from Windfall's wealth database of more than 80 million households.
For each state, the minimum net worth required to qualify in the top 1% for that state is included, along with the median net worth of all homeowners with a primary residence in that state, and total homeowners with a net worth of $1 million or more.
Net worth represents an individual's assets like homes, cars, and investments, less their liabilities like mortgage and other debt.
Windfall visualized the net worth required to qualify for each state and other related statistics in an interactive map and table. For a bit of a closer look at what they found you can look at their state-by-state article.