How Much Income You Need To Be Considered Rich In Every State In America

Advertiser Disclosure

Advertiser Disclosure

The Wealth Gang team writes about financial information, passive income ideas, apps, programs, cash management tools and other wealth gadgets that we think you might want to use or learn more about. Sometimes, we write about products, services or items that might be associated with affiliate partnerships. In these instances, we will earn a small percentage of the revenue from sales. There is, of course, no cost to you.

Thank you for all your support! Without you, we could not keep this site running. Gang Gang!

It’s not how much you make, it’s how much you keep. Unless, of course, you’re talking about this list of how much income you need to make to be considered rich in every state in America.

The list below, broken out alphabetically by state, shows how much money you need to make to be considered in the top 5% in each state. Some states, like West Virginia and Mississippi, required much lower income to be considered a top earner, while states like California and New Jersey require incomes of $250K+ just to crack the upper echelon. There are even a few shockers on this list, like North Dakota. Who would have thought people there had to make well over $200K to be in the top 5%?

Anyway, here is the list to see where you stack up. Because it’s always good to measure your income against others. It keeps you motivated and it might finally force you to ask for a raise so you, too, can join the top 5%.

How Much Income You Need To Be Considered Rich In Every State In America

Alabama

  • Minimum annual income to be in the top 5%: $189,695
  • Median household income: $51,734

Alaska

  • Minimum annual income to be in the top 5%: $242,208
  • Median household income: $75,463

Arizona

  • Minimum annual income to be in the top 5%: $220,936
  • Median household income: $62,055

Arkansas

  • Minimum annual income to be in the top 5%: $176,997
  • Median household income: $48,952

income-to-be-considered-rich

California

  • Minimum annual income to be in the top 5%: $250,000+
  • Median household income: $80,440

California is 15.4% more expensive than most other states in America. You better earn a ton if you want to live a nice life in Cali.

Colorado

  • Minimum annual income to be in the top 5%: $250,000+
  • Median household income: $77,127

Connecticut

  • Minimum annual income to be in the top 5%: $250,000+
  • Median household income: $78,833

Delaware

  • Minimum annual income to be in the top 5%: $235,059
  • Median household income: $70,176

Florida

  • Minimum annual income to be in the top 5%: $226,319
  • Median household income: $59,227

Georgia

  • Minimum annual income to be in the top 5%:$233,979
  • Median household income: $61,980

Hawaii

  • Minimum annual income to be in the top 5%: $250,000+
  • Median household income: $83,102

Idaho

  • Minimum annual income to be in the top 5%: $199,218
  • Median household income: $60,999

Illinois

  • Minimum annual income to be in the top 5%: $199,218
  • Median household income: $69,187

Indiana

  • Minimum annual income to be in the top 5%:$194,407
  • Median household income: $57,603

Iowa

  • Minimum annual income to be in the top 5%: $199,328
  • Median household income: $61,691

Kansas

  • Minimum annual income to be in the top 5%: $211,256
  • Median household income: $62,087 

Kentucky

  • Minimum annual income to be in the top 5%: $185,241
  • Median household income: $52,295

Louisiana

  • Minimum annual income to be in the top 5%: $199,417
  • Median household income: $51,073

income-to-be-considered-rich

Maine

  • Minimum annual income to be in the top 5%: $202,639
  • Median household income: $58,924

Maryland

  • Minimum annual income to be in the top 5%: $250,000+
  • Median household income: $86,738

Massachusetts

  • Minimum annual income to be in the top 5%: $250,000+
  • Median household income: $85,843

Michigan

  • Minimum annual income to be in the top 5%: $209,099
  • Median household income: $59,58

Minnesota

  • Minimum annual income to be in the top 5%:  $244,552
  • Median household income: $74,593

Mississippi

  • Minimum annual income to be in the top 5%: $172,337
  • Median household income: $45,792

Mississippi requires the second lowest amount of income to be in the top 5%. They also have a very low cost of living, which is 14% less than the U.S. average.

Missouri

  • Minimum annual income to be in the top 5%: $201,541
  • Median household income: $57,409

Montana

  • Minimum annual income to be in the top 5%: $187,867
  • Median household income: $57,153

income of top 1 percent

Nebraska

  • Minimum annual income to be in the top 5%: $203,793
  • Median household income: $63,229

Nevada

  • Minimum annual income to be in the top 5%: $221,626
  • Median household income: $63,276

New Hampshire

  • Minimum annual income to be in the top 5%: $250,000+
  • Median household income: $77,933

New Jersey

  • Minimum annual income to be in the top 5%: $250,000+
  • Median household income: $85,751

New Mexico

  • Minimum annual income to be in the top 5%: $192,480
  • Median household income: $51,945

New York

  • Minimum annual income to be in the top 5%: $250,000+ 
  • Median household income: $72,108 

North Carolina

  • Minimum annual income to be in the top 5%: $213,009
  • Median household income: $57,341

income of top 1 percent

North Dakota

  • Minimum annual income to be in the top 5%: $220,611
  • Median household income: $64,577

Ohio

  • Minimum annual income to be in the top 5%: $204,940
  • Median household income: $58,642

Oklahoma

  • Minimum annual income to be in the top 5%:  $194,523
  • Median household income: $54,449

Oregon

  • Minimum annual income to be in the top 5%: $229,747
  • Median household income: $67,058

Pennsylvania

  • Minimum annual income to be in the top 5%: $233,467
  • Median household income: $63,463

Rhode Island

  • Minimum annual income to be in the top 5%: $235,524
  • Median household income: $71,169

South Carolina

  • Minimum annual income to be in the top 5%: $204,826
  • Median household income: $56,227

South Dakota

  • Minimum annual income to be in the top 5%: $190,156
  • Median household income: $59,533

Tennessee

  • Minimum annual income to be in the top 5%: $205,063
  • Median household income: $56,071

income of top 1 percent

Texas

  • Minimum annual income to be in the top 5%: $241,212
  • Median household income: $64,034

Utah

  • Minimum annual income to be in the top 5%: $235,835
  • Median household income: $75,780

Vermont

  • Minimum annual income to be in the top 5%: $212,823
  • Median household income: $63,001

Virginia

  • Minimum annual income to be in the top 5%: $250,000+
  • Median household income: $76,456

Washington

  • Minimum annual income to be in the top 5%: $250,000+
  • Median household income: $78,687

West Virginia

  • Minimum annual income to be in the top 5%: $171,816
  • Median household income: $48,850

West Virginia requires the lowest amount of income to be in the top 5%.

Wisconsin

  • Minimum annual income to be in the top 5%: $202,582
  • Median household income: $64,168

Wyoming

  • Minimum annual income to be in the top 5%: $199,944
  • Median household income: $65,003

[H/T USA Today]

Author
C. James

C. James is the managing editor at Wealth Gang. He has a degree in finance and a passion for creating passive income streams and wealth management.

Current Top Offers

fundrise logo

Invest in Commercial Real Estate With As Little As $10

m1 finance logo

Get a $50 bonus for creating and funding a new account

Invest spare change easily. Get $5 when you sign up for Acorns.

Earn an unlimited 1.5% back in Bitcoin on every purchase with the BlockFi Rewards Visa® Signature Credit Card.

Put your crypto to work. Get up to a $250 crypto bonus with a transfer of $100 or more in crypto.