How Many Millionaires Live in Andover?

The number of millionaires in Massachusetts is on the rise according to recent findings investigated and reported by the Boston Business Journal, which recently released its list of Massachusetts towns and cities with the most million-dollar earners.

Using data based from the state’s Department of Revenue, the BBJ found 11,557 of those who filed taxes reported at least $1 million income for 2011 (that is the latest statistic available). That’s up 13 percent from 2010.

Boston was the highest on the BBJ’s list for all towns and cities in terms of total millionaires, with more than 1,443 who earned more than a million. Newton came in second place (with 957) and Wellesley in third place, with the town having 695 who earned more than a million.

Andover had 217 residents who filed as making at least $1 million in 2011, accounting for one millionaire per every 157 people. The average income for millionaires in Andover was $2,441,000, according to the report.

Look up your town or city and read the full report here.

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