How Much You Need to Be Rich in Every State
What does it mean to be rich? Many people associate it with a specific dollar amount, like having an annual salary of $100,000. But an income of $100,000 can take you further in South Dakota than in California.
To understand what “rich” means in every state, we looked at what the annual income would need to be to put someone in the top 25% and top 10% of earners in that state according to the Bureau of Labor Statistics.
Income Thresholds for the Top 25% and Top 10% of Earners by State
Here’s a breakdown of the annual income needed to be in the top 25% and top 10% of earners in each state:
- Alabama:
- Top 25%: $53,310
- Top 10%: $79,630
- Alaska:
- Top 25%: $73,460
- Top 10%: $103,080
- Arizona:
- Top 25%: $58,660
- Top 10%: $90,730
- Arkansas:
- Top 25%: $49,140
- Top 10%: $73,310
- California:
- Top 25%: $73,110
- Top 10%: $117,590
- Colorado:
- Top 25%: $67,570
- Top 10%: $104,110
- Connecticut:
- Top 25%: $75,060
- Top 10%: $110,770
- Delaware:
- Top 25%: $65,330
- Top 10%: $100,550
- District of Columbia:
- Top 25%: $117,820
- Top 10%: $164,200
- Florida:
- Top 25%: $54,450
- Top 10%: $82,490
- Georgia:
- Top 25%: $58,950
- Top 10%: $92,480
- Hawaii:
- Top 25%: $64,050
- Top 10%: $96,270
- Idaho:
- Top 25%: $52,580
- Top 10%: $78,260
- Illinois:
- Top 25%: $66,670
- Top 10%: $101,170
- Indiana:
- Top 25%: $54,530
- Top 10%: $79,410
- Iowa:
- Top 25%: $55,810
- Top 10%: $80,040
- Kansas:
- Top 25%: $54,970
- Top 10%: $80,980
- Kentucky:
- Top 25%: $52,470
- Top 10%: $76,150
- Louisiana:
- Top 25%: $52,620
- Top 10%: $76,890
- Maine:
- Top 25%: $55,640
- Top 10%: $80,190
- Maryland:
- Top 25%: $74,300
- Top 10%: $115,230
- Massachusetts:
- Top 25%: $78,870
- Top 10%: $121,350
- Michigan:
- Top 25%: $60,970
- Top 10%: $91,320
- Minnesota:
- Top 25%: $65,690
- Top 10%: $98,270
- Mississippi:
- Top 25%: $47,550
- Top 10%: $69,720
- Missouri:
- Top 25%: $56,480
- Top 10%: $83,570
- Montana:
- Top 25%: $53,250
- Top 10%: $76,610
- Nebraska:
- Top 25%: $56,420
- Top 10%: $81,770
- Nevada:
- Top 25%: $55,790
- Top 10%: $83,360
- New Hampshire:
- Top 25%: $62,590
- Top 10%: $96,690
- New Jersey:
- Top 25%: $72,700
- Top 10%: $111,920
- New Mexico:
- Top 25%: $55,510
- Top 10%: $85,340
- New York:
- Top 25%: $75,610
- Top 10%: $119,950
- North Carolina:
- Top 25%: $56,100
- Top 10%: $86,970
- North Dakota:
- Top 25%: $60,040
- Top 10%: $83,530
- Ohio:
- Top 25%: $59,100
- Top 10%: $86,470
- Oklahoma:
- Top 25%: $53,060
- Top 10%: $79,510
- Oregon:
- Top 25%: $62,850
- Top 10%: $96,410
- Pennsylvania:
- Top 25%: $61,050
- Top 10%: $92,850
- Rhode Island:
- Top 25%: $67,900
- Top 10%: $100,110
- South Carolina:
- Top 25%: $52,070
- Top 10%: $77,740
- South Dakota:
- Top 25%: $48,550
- Top 10%: $70,610
- Tennessee:
- Top 25%: $53,310
- Top 10%: $79,360
- Texas:
- Top 25%: $60,450
- Top 10%: $93,670
- Utah:
- Top 25%: $58,290
- Top 10%: $87,930
- Vermont:
- Top 25%: $59,520
- Top 10%: $85,540
- Virginia:
- Top 25%: $68,440
- Top 10%: $110,140
- Washington:
- Top 25%: $73,060
- Top 10%: $110,400
- West Virginia:
- Top 25%: $51,290
- Top 10%: $75,710
- Wisconsin:
- Top 25%: $57,700
- Top 10%: $82,950
- Wyoming:
- Top 25%: $60,770
- Top 10%: $82,980
Description: A map showing the income thresholds to be considered rich in each state.
The Impact of Location on Wealth
The cost of living varies significantly across different states, which impacts how far an income can go. For example, $100,000 in South Dakota may provide a much higher standard of living compared to the same income in California or New York, where the cost of living is higher.
Understanding these thresholds can help individuals better plan their financial goals and make informed decisions about where to live and work.
Conclusion
Being "rich" means different things in different states. The income required to be in the top 10% or 25% of earners varies widely across the country. By understanding these differences, you can better navigate your financial journey and make decisions that align with your goals and lifestyle.
