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More Than 100,000 Millionaires Live In Boston

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Jun 24, 2008 11:47 am US/Eastern

More Than 100,000 Millionaires Live In Boston

BOSTON (WBZ) ― Gas prices, housing slumps and jobs – these are all common problems around the country and here in Massachusetts, but it appears there is some good news regarding Boston's wealthy residents.

According to Claritas, Inc., a local market research firm, there are 106,503 millionaires in Boston, and that number is expected to grow over the next five years. This latest number is more than a 17 percent increase from 2006.

The report indicates synergistic mergers and acquisitions, solid gains in stock indices and changes in market valuations have helped investor's wealth continue to accumulate and grow in Boston and around the country.

In the next five years, millionaire households will increase by 18.6 percent, while the average Boston household will increase by only 1.1 percent.

(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)

© MMIX, CBS Corporation. All rights reserved.