New research reveals how much a household must earn to be considered wealthy in each of the 50 states in America. It also reveals how much one makes can be worth a lot more in one state than in another.
For instance, in Arkansas, the average household income of the top 10% of residents is $215,812. In California, however, you have to earn $362,311 to make the top 10%.
To complete the study, MoneyLion used data from the Bureau of Labor Statistics’ 2024 American Community Survey on the mean income in the top 20% of earners to estimate earnings for each state’s top 10%. The overall median household income was then contrasted with these numbers.
What they found was that the top 10% make more than $300,000 in 11 of America’s 50 states. The highest top 10% in the nation is Connecticut, which has an average of $370,003.
Massachusetts ($368,568), California ($362,311), New Jersey ($361,445) and New York ($351,650) round out the top five. Washington ($348,503), Maryland ($332,112), Colorado ($325,808), Hawaii ($322,263), Virginia ($321,091) and New Hampshire ($310,569) complete the top 10.
Where things really get interesting when comparing the disparities between the top 10% in each state to the state’s median household income. California, Hawaii, Maryland, Massachusetts and New Jersey are the only states in America with six-figure median household incomes.
In Alabama, the top 10% earns $162,685, or 244%, more than the state’s median income. In Alaska, the top 10% earns $291,368, or 205%, more.
Arizona’s top 10% makes an average of $275,969. That’s 239% more than the median income. In Arkansas, the top 10% earns $215,812, or 3.47 times the median income.
The rest of the top 10% of earners in each state
California: $362,311 – 262% more than the median income; Colorado: $325,808 – 235% more; Connecticut: $370,003 – 285% more; and Delaware: $277,672 – 217% more than the median income.
In Florida, the top 10% makes an average of $280,649, 261% more than the median income; Georgia is $275,780 – 245% more than the median income; Hawaii: $322,263 – 220% more; and Idaho: $247,052 – 204% more.
The top 10% in Illinois earn $296,443, or 256% more than the median income; Indiana: $234,070 – 225% more; Iowa: $228,760 – 203% more; Kansas: $252,211 – 234% more; and Kentucky: $220,123 – 241% more than the median income.
In Louisiana, the top 10% earn an average of $224,960, which is 269% more than the median income; Maine: $252,850 – 231% more; Maryland: $332,112 – 223% more; Massachusetts: $368,568 – 252% more; and Michigan: $247,459 – 242% more than the median income.
The average for the top 10% in Minnesota is $284,139, or 226% more than the median income; Mississippi is at $203,678, or 244% more than the median income; Missouri: $241,970 – 238% more; Montana: $251,910, 234% more; Nebraska: $241,818, 217% more; and Nevada: $274,355 – 238% more.
The top 10% in New Hampshire make an average of $310,569, which is 211% more than the median income; in New Jersey it is $361,445, which 247% more; New Mexico: $230,629 – 240% more than the median income; New York: $351,650 – 310% more than the median income; North Carolina: $266,462 – 260% more; and North Dakota: $255,287 – 228% more.
In Ohio the top 10% earn an average of $242,410, which is 236% more than the median income; Oklahoma: $226,486 – 242% more; Oregon: $271,007 – 218% more; Pennsylvania: $273,195 – 252% more than the median income; and Rhode Island: $287,597 – 244% more.
South Carolina’s top 10% earn an average of $244,213, or 238% more than the median income; South Dakota: $241,833 – 215% more; Tennessee: $254,695 – 254% more; Texas: $286,707 – 260% more; and Utah: $285,518 – 195% more than the median income.
The top 10% in Vermont earn an average of $271,056, which is 228% more than the median income; in Virginia it is $321,091 or 249% more than the median income; Washington: $348,503 – 251% more; West Virginia: $201,400 – 231% more; Wisconsin: $242,227 – 213% more; and Wyoming: $250,919 – 232% more than the median income.