How Much You Have To Earn To Be In The Top One Percent In Each State Is Revealed



From the famously expensive coasts to the affluent south, the threshold for being in the top one percent of earners varies widely from state to state. A new survey has revealed the top one percent figures for each.

Nationally, the top one percent threshold figure is $597,815 per family, but in wealthy Connecticut, a family must have a combined income of $900,000 to be considered in the top one percent.

West Virginia, on the other end of the spectrum, is below the national average of one percent: residents can be in the upper echelons of earners with a total income of $350,000 as a family.

The figures were calculated through research by financial technology company SmartAsset, using data from the IRS and the Bureau of Labor Statistics.

Particular trends in the findings include the fact that living by the sea is something high-income earners crave, as household income had to be in the top one percent in coastal states. The study also found that families in the top one percent typically earn twice as much as those in the top five percent.

In Massachusetts, New York, New Jersey, and California, you must earn more than $700,000 per household to be in the top one percent of income.

While in Mississippi, New Mexico, Arkansas and Kentucky you can earn less than $450,000 to be in the top one percent of earners.

Read on for the upper one and five percent thresholds in each state:

Massachusetts

Top One Percent Income: $810,256

Top Five Percent Income: $314,389

Connecticut

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Top One Percent Income: $896,490

Top Five Percent Income: $311,589

People wear masks at an indoor mall at The Oculus in lower Manhattan on the day a New York mask mandate went into effect on December 13, 2021 in New York City

(False images)

New York

Top One Percent Income: $777,126

Top Five Percent Income: $265,530

New Jersey

Top One Percent Income: $760,462

Top Five Percent Income: $308,976

California

Top One Percent Income: $745,314

Top Five Percent Income: $291,277

(AFP via Getty Images)

Washington

Top One Percent Income: $685,128

Top Five Percent Income: $283,574

Colorado

Top One Percent Income: $632,277

Top Five Percent Income: $264,313

Illinois

Top One Percent Income: $627,329

Top Five Percent Income: $250,266

Florida

Top One Percent Income: $623,736

Top Five Percent Income: $223,179

Texas

Top One Percent Income: $594,313

Top Five Percent Income: $237,383

Maryland

Top One Percent Income: $588,035

Top Five Percent Income: $265,100

Virginia

Top One Percent Income: $584,784

Top Five Percent Income: $270,360

Wyoming

Top One Percent Income: $578,298

Top Five Percent Income: $212,937

Minnesota

Top One Percent Income: $574,780

Top Five Percent Income: $243,659

new hampshire

Top One Percent Income: $568,731

Top Five Percent Income: $254,995

(False images)

Georgia

Top One Percent Income: $543,748

Top Five Percent Income: $225,232

Pennsylvania

Top One Percent Income: $541,612

Top Five Percent Income: $229,015

North Dakota

Top One Percent Income: $540,837

Top Five Percent Income: $223,203

Nevada

Top One Percent Income: $540,025

Top Five Percent Income: $205,028

Utah

Top One Percent Income: $528,864

Top Five Percent Income: $217,757

Oregon

Top One Percent Income: $517,607

Top Five Percent Income: $228,006

North Carolina

Top One Percent Income: $506,795

Top Five Percent Income: $218,073

South Dakota

Top One Percent Income: $504,422

Top Five Percent Income: $203,185

Arizona

Top One Percent Income: $503,408

Top Five Percent Income: $216,972

Kansas

Top One Percent Income: $501,009

Top Five Percent Income: $213,529

Rhode Island

Top One Percent Income: $493,748

Top Five Percent Income: $220,113

Tennessee

Top One Percent Income: $492,583

Top Five Percent Income: $201,597

Alaska

Top One Percent Income: $486,671

Top Five Percent Income: $230,260

Delaware

Top One Percent Income: $480,472

Top Five Percent Income: $222,092

Nebraska

Top One Percent Income: $477,312

Top Five Percent Income: $207,417

Michigan

Top One Percent Income: $476,358

Top Five Percent Income: $208,693

Wisconsin

Top One Percent Income: $475,584

Top Five Percent Income: $204,669

Louisiana

Top One Percent Income: $471,506

Top Five Percent Income: $199,454

Missouri

Top One Percent Income: $470,279

Top Five Percent Income: $202,054

Oklahoma

Top One Percent Income: $469,311

Top Five Percent Income: $197,397

Mountain

Top One Percent Income: $465,702

Top Five Percent Income: $196,629

South Carolina

Top One Percent Income: $463,976

Top Five Percent Income: $202,000

Idaho

Top One Percent Income: $462,352

Top Five Percent Income: $197,850

Ohio

Top One Percent Income: $460,129

Top Five Percent Income: $197,621

Hawaii

Top One Percent Income: $453,471

Top Five Percent Income: $212,622

Vermont

Top One Percent Income: $451,765

Top Five Percent Income: $206,007

Iowa

Top One Percent Income: $441,223

Top Five Percent Income: $202,268

Indiana

Top One Percent Income: $437,567

Top Five Percent Income: $192,928

Maine

Top One Percent Income: $434,306

Top Five Percent Income: $194,663

Alabama

Top One Percent Income: $432,330

Top Five Percent Income: $193,273

Kentucky

Top One Percent Income: $412,836

Top Five Percent Income: $184,217

Arkansas

Top One Percent Income: $411,633

Top Five Percent Income: $183,945

New Mexico

Top One Percent Income: $384,427

Top Five Percent Income: $185,641

Mississippi

Top One Percent Income: $361,462

Top Five Percent Income: $168,705

West Virginia

Top One Percent Income: $350,212

Top Five Percent Income: $171,135


www.independent.co.uk

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George Holan

George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.

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