Share of Households, by Investable Assets

Santa Clara & San Mateo Counties | 2022

Data Source:




Phoenix Global Wealth Monitor


Silicon Valley Institute for Regional Studies

2022 data are from Claritas, Claritas Income Producing Assets Indicators model based on the Survey of Consumer Finances, 5-Year data. Silicon Valley includes Santa Clara and San Mateo Counties. Investable Assets include education/custodial accounts, individually-owned retirement accounts, stocks, options, bonds, mutual funds, managed accounts, hedge funds, structured products, ETFs, cash accounts, annuities, and cash value life insurance. Extreme billionaire wealth include those listed on the Forbes 2022 World Billionaires List with wealth of more than $10 billion (as of 12/5/2022), and includes an assumed 18.1% liquid assets based on the technology-industry billionaire estimate from the Altrata 2022 Billionaire Census. Segment distributions are approximations. 2018 market sizing estimates from Phoenix Global Wealth Monitor (which utilizes Claritas data) were used to estimate2022 market sizes for $3-4.99 million, $5-9.99 million, and $10+ million. The distribution of wealth among households with less than $25,000 in investable assets was calculated by applying the national breakdown (U.S. Census Bureau, Survey of Income and Program Participation 2018 for 2018 data, and 2019 for 2020 and 2022 data). The Phoenix Wealth and Affluent Monitor (W&AM) U.S. Sizing Report is intended to provide estimates of the number of affluent and High Net Worth households in the country. Sizing estimates are provided at the state level as well as by Core-Based Statistical Areas (CBSAs), which are comprised of Metropolitan and Micropolitan Statistical Areas (933 in the country). The W&AM sizing estimates are developed using a combination of sources including the Survey of Consumer Finance, as well as Nielsen-Claritas. National data and closely linked variables are used to obtain estimates at the local level; thus, the county-level data are approximations only. The wealth segment labeled “<$100,000” does not include the estimated share of households that are unbanked. Unbanked households were estimated using the weighted average share of unbanked households in Santa Clara & San Mateo counties from estimates published by ProsperityNow (data year 2018). According to the FDIC National Survey of Unbanked and Underbanked Households 2021, more than 40% of survey respondents cited that they did not have enough funds to meet a bank’s minimum opening deposit requirements; eight out of ten unbanked households were unbanked long-term. Extreme billionaires (count and total wealth) were estimated based on data reported in the Forbes 2022 World’s Billionaire List, as of December 29, 2022. Billionaires listed as residing in the United States were researched individually, and were included in the Silicon Valley region if a city-defined Silicon Valley city/town was listed as a place of primary residence. A comparison of the regional total wealth reported by Claritas and the total wealth calculated here (given the assumptions in this estimation methodology) supports the idea that the Claritas data does not include outlier households with wealth $30 million or more.

Ultra High Net Worth (UHNW) households include those with net investable assets of $30 million or more. Data represent estimates. Investable assets are all liquid assets such as checking accounts, CDs, and retirement accounts. Percentages are rounded and may not add up to 100%.

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