The number of U.S. households with a net worth of $1 million or more fell 27% last year, to 6.7 million, according to Spectrem Group.

That is the lowest number of millionaires since 6.2 million in 2003, the Chicago firm said Wednesday.

The number of households with a net worth of at least $5 million dropped 28%, to 840,000, and there were 11.3 million affluent households with at least $500,000 in net worth, down 28%.

Spectrem's findings are from its surveys of 3,000 affluent households and 750 millionaire households in November and December.

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