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Here’s How Much Money You Need to Earn to Be in the Top 1% in Every U.S. State

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Being considered rich isn’t just about how much money you make, it’s where you live, too.

State by state, the incomes the top 1% of earners in the U.S. bring in vary by over a half million dollars, according to a new analysis of 2022 incomes by personal finance website SmartAsset.

To be in the top 1% of earners in Connecticut, residents need an adjusted gross income of at least $955,261. However, in West Virginia, they only need to earn an AGI of $374,712 to be part of the top 1%.

For comparison, the median income for U.S. households overall is under $70,000, with only 10% of households earning more than $200,000, according to SmartAsset.

Coastal states like New York and California tend to have the highest earners, while top earners in more rural states like Mississippi and Arkansas make less. Only 12 states require annual earnings less than $500,000 to be considered in the top 1%.

To calculate these numbers, the analysis updated 2018 income data from the Internal Revenue Service using 2022 Consumer Price Index data to account for inflation. 

Below are the incomes needed to be part of both the top 1% and top 5% of earners in each state. States are listed in descending order, starting with the state with the highest income threshold for the top 1%.

Connecticut

Top 1% income threshold: $955,261Top 5% income threshold: $336,866

Massachusetts

Top 1% income threshold: $896,932Top 5% income threshold: $349,737

New Jersey

Top 1% income threshold: $825,965Top 5% income threshold: $338,884

New York

Top 1% income threshold: $817,796Top 5% income threshold: $287,752

California

Top 1% income threshold: $805,519Top 5% income threshold: $317,791

Washington

Top 1% income threshold: $736,084Top 5% income threshold: $312,907

Colorado

Top 1% income threshold: $682,897Top 5% income threshold: $288,694

Florida

Top 1% income threshold: $678,816Top 5% income threshold: $243,617

Illinois

Top 1% income threshold: $666,202Top 5% income threshold: $271,049

Texas

Top 1% income threshold: $641,449Top 5% income threshold: $258,369

Virginia

Top 1% income threshold: $635,705Top 5% income threshold: $294,495

Wyoming

Top 1% income threshold: $635,458Top 5% income threshold: $233,212

New Hampshire

Top 1% income threshold: $634,464Top 5% income threshold: $281,154

Maryland

Top 1% income threshold: $634,255Top 5% income threshold: $287,246

Minnesota

Top 1% income threshold: $616,326Top 5% income threshold: $264,140

Pennsylvania

Top 1% income threshold: $591,900Top 5% income threshold: $250,528

Georgia

Top 1% income threshold: $586,207Top 5% income threshold: $242,967

North Dakota

Top 1% income threshold: $578,237Top 5% income threshold: $240,797

Utah

Top 1% income threshold: $577,024Top 5% income threshold: $239,222

Nevada

Top 1% income threshold: $571,593Top 5% income threshold: $221,842

North Carolina

Top 1% income threshold: $554,221Top 5% income threshold: $238,562

Oregon

Top 1% income threshold: $551,004Top 5% income threshold: $246,539

South Dakota

Top 1% income threshold: $549,189Top 5% income threshold: $219,642

Arizona

Top 1% income threshold: $546,798Top 5% income threshold: $235,447

Rhode Island

Top 1% income threshold: $545,345Top 5% income threshold: $240,792

Kansas

Top 1% income threshold: $539,002Top 5% income threshold: $231,855

Tennessee

Top 1% income threshold: $535,065Top 5% income threshold: $220,362

Alaska

Top 1% income threshold: $529,327Top 5% income threshold: $250,103

Delaware

Top 1% income threshold: $526,858Top 5% income threshold: $241,817

Wisconsin

Top 1% income threshold: $514,561Top 5% income threshold: $223,102

Montana

Top 1% income threshold: $514,013Top 5% income threshold: $216,789

Michigan

Top 1% income threshold: $511,240Top 5% income threshold: $225,673

Nebraska

Top 1% income threshold: $510,981Top 5% income threshold: $224,759

Idaho

Top 1% income threshold: $508,126Top 5% income threshold: $217,945

South Carolina

Top 1% income threshold: $506,496Top 5% income threshold: $219,743

Vermont

Top 1% income threshold: $502,425Top 5% income threshold: $193,396

Missouri

Top 1% income threshold: $427,917Top 5% income threshold: $186,671

Ohio

Top 1% income threshold: $422,373Top 5% income threshold: $182,635

Louisiana

Top 1% income threshold: $417,948Top 5% income threshold: $212,223

Hawaii

Top 1% income threshold: $487,092Top 5% income threshold: $231,685

Maine

Top 1% income threshold: $486,893Top 5% income threshold: $215,213

Oklahoma

Top 1% income threshold: $483,606Top 5% income threshold: $210,109

Iowa

Top 1% income threshold: $474,160Top 5% income threshold: $217,390

Indiana

Top 1% income threshold: $471,007Top 5% income threshold: $208,917

Alabama

Top 1% income threshold: $466,719Top 5% income threshold: $209,636

Kentucky

Top 1% income threshold: $447,370Top 5% income threshold: $199,963

Arkansas

Top 1% income threshold: $446,276Top 5% income threshold: $198,233

New Mexico

Top 1% income threshold: $418,970Top 5% income threshold: $201,646

Mississippi

Top 1% income threshold: $383,128Top 5% income threshold: $181,094

West Virginia

Top 1% income threshold: $374,712Top 5% income threshold: $183,973

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