The number of U.S. households with a net worth of $1 million or more rose by 300,000 in 2015 to a new total of 10.4 million. At the same time, the number of “mass affluent” households with a net worth between $100,000 and $1 million totaled 28.9 million.

The data were reported last week by Spectrem Group in its “Market Insights Report 2016” and do not include the value of the household’s primary residence.

Spectrem Group’s president said:

Despite ongoing concerns about market volatility and the direction of the U.S. economy, the number of affluent American households expanded in 2015. This report underscores that wealth creation continues to occur in the United States, with the number of millionaire households growing by more than 3 percent in 2015.

The firm also reported other key findings:

• The number of millionaires worth between $1 million and $5 million totaled 9.1 million.
• The number of ultra-high net worth ($5 million to $25 million) households rose to 1.21 million.
• The number of households worth more than $25 million rose by 3,000 to 145,000.

The greatest gains in wealth since 2008 have been made by the wealthiest households. For those in the top category, wealth has increased by 73%; among ultra-high net worth households wealth increased by 59%; in millionaire households wealth rose by 54%; and in mass affluent households, gains equaled 22%.

The total number of households included in the Spectrem Group study is 20.86 million, representing around 16.7% of about 124.6 million total households in the United States in 2015.

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