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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