2023-10-02 13:26:02
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Here’s how much money you would need to make to be in the top one percent of households in Washington, D.C., Maryland, and Virginia.
WASHINGTON – Have you ever wondered how much you would need to make to be among the top earners in your state?
SmartAsset analyzed data from the IRS and Bureau of Labor Statistics to find the minimum income required to be considered among the top one percent of households in all 50 states.
The study found that the one percent threshold varies from state to state, ranging from as much as $952,902 in Connecticut to as little as $367,582 in West Virginia.
If our nation’s capital were a state – it would be ranked number one, the study says. Washington D.C.’s top one percent earned $1,013,698 in 2023.
Elsewhere in the D.C. region, you would need to earn $633,333 in Maryland, $643,848 in Virginia, and $529,928 in Delaware to be considered among the top one percent of earners.
Nationally, households that make $652,657 are considered among the top one percent – which means they earn more than eight times as much as the median household, which sits around $75,000.
HERE’S THE FULL LIST OF INCOME NEEDED TO BE IN THE TOP 1% IN EACH STATE:
1. Connecticut $952,902
2. Massachusetts $903,401
3. California $844,266
4. New Jersey $817,346
5. Washington $804,853
6. New York $776,662
7. Colorado $709,092
8. Florida $694,987
9. Illinois $660,81
10. New Hampshire $659,037
11. Wyoming $656,118
12. Virginia $643,848
13. Maryland $633,333
14. Texas $631,849
15. Utah $630,544
16. Minnesota $626,451
17. Nevada $603,751
18. South Dakota $590,373
19. Pennsylvania $588,702
20. North Dakota $585,556
21. Georgia $585,397
22. Oregon $571,813
23. Arizona $564,031
24. Idaho $560,040
25. North Carolina $559,762
26. Montana $559,656
27. Kansas $554,912
28. Rhode Island $548,531
29. Tennessee $548,329
30. Alaska $542,824
31. Nebraska $535,651
32. Delaware $529,928
33. Vermont $518,039
34. Wisconsin $517,321
35. South Carolina $508,427
36. Michigan $504,671
37. Maine $502,605
38. Missouri $500,626
39. Ohio $500,253
40. Hawaii $495,263
41. Iowa $483,985
42. Indiana $473,685
43. Alabama $470,341
44. Oklahoma $460,172
45. Louisiana $458,269
46. Arkansas $450,700
47. Kentucky $445,294
48. New Mexico $411,395
49. Mississippi $381,919
50. West Virginia $367,582
Find out more about the study online.
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