Texas has an eye-popping number of millionaire households

HOUSTON -- A new report shows that Texas boasts a wealth of millionaire households - the second highest number in the country, in fact.

The report, published by marketing services firm Phoenix Marketing International, indicates Texas had 566,578 millionaire households in 2017. To qualify as a millionaire household, a person or family must have at least $1 million in investable assets.

Texas ranks as the second most populous state in the U.S., so it would stand to reason that the Lone Star State also would be second in terms of the number of millionaire households. (The most populous state, California, ranked first last year, with 885,225 millionaire households.)

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