Maryland Among Best States To Become A Millionaire, New Ranking Says

The list analyzed several factors at the state and city levels, including cost of living, access to venture capital, average income, education rates, GDP per capita, and millionaire concentration. See where MD ranked

Index for Best (and Worst) States for Becoming a MillionairePhoto bycasino

MARYLAND — If you're hoping to one day become a millionaire, living in Maryland could make it easier, according to a new ranking.

Published last week by Casino.org, the ranking analyzed factors like cost of living, average income, and education rates to determine which states and cities give residents the best shot at becoming a millionaire. These factors were combined to create a weighted score, with 100 being the best possible score.

While Maryland didn't reach the top five, it still earned a notable score of 64, indicating that becoming a millionaire is relatively easier compared to other states.

What Makes California the Top State for Millionaires?

California has secured the top spot on the list of the best states to become a millionaire, achieving a score of 80. With 17.9% of its population already millionaires, California also boasts more venture capital than most of the United States combined.

New York State secured the second spot with a score of 72, while Massachusetts followed closely in third place with a score of 71.

US cities where you’re most likely to become a millionairePhoto byRiley Clark

On the other end of the spectrum, Mississippi was identified as the state where becoming a millionaire is least likely, with a score of 2, followed by Arkansas and West Virginia.

California cities dominated the list of the best places to become a millionaire, with three of the top four spots. San Francisco was ranked No. 1, followed by San Jose at No. 2 and Los Angeles at No. 4. Boston claimed the third spot.

The million-dollar question:

Which states are the best for striking it rich? If you have a big idea, some states are more receptive than others. Overall, the US still offers the American Dream, with a 6.4% chance of becoming a millionaire – slim, but possible!