The average salary for these top earners is a whopping $1,543,124, the eighth highest in the nation. It’s not super difficult to crack the top 5 percent in Florida however, if you’re looking to be a 1-percenter, you’ve got quite a mountain to climb. Unlike some of its wealthier neighbors, however, you can still be an average 1-percenter in Delaware with an income below $1 million - $869,461, to be exact. The state’s 1-percenters have the highest average income in the country, at just over $2.5 million.Īlthough it doesn’t crack the top 10, Delaware still requires over $200,000 in income to make it to the top 5 percent. 12 in terms of boundaries of the top 5 percent club, with incomes well above $200,000 required for entry.Īmong the states, Connecticut has the highest average income for the top 5 percent of earners, at $529,367. Unfortunately, a lot of that may be eaten up by taxes in the notoriously high-tax state.Ĭolorado is known as a paradise for outdoorsy types, but it’s also a haven for the wealthy. But that’s still chump change compared to California’s 1-percenters, who earn close to $1.7 million on average. in which you’ll need at least $250,000 to reach the top 5 percent. California is one of the seven states in the country - eight if you include Washington, D.C. To be rich in California means you’ve really hit the big time. Of course, the average salary across the state is among the lowest in the nation as well. Only two states, West Virginia and Mississippi, have a lower hurdle to enter that exclusive club. ArkansasĪrkansas is one of the states in which garnering a top 5 percent income is reasonably attainable. The state’s top 5-percenters pull down about 4.5 times the overall average income in the state. ArizonaĪrizona’s in about the middle of the pack when it comes to the top 5 percent. Even the mean household income for the bottom 20 percent is the highest in the nation, at $19,027. Top earners average $743,644, also among the lowest in the country.Īlaska is a high-cost, high-income state, and the numbers bear out with the top 5 percent also. The state has the sixth-lowest threshold for entry to that elite crowd of all the states. On a relative basis, it’s fairly easy to crack the top 5 percent of income earners in Alabama. Whether you want to be part of the rich and high-salaried or you have different feelings about them, here’s a look at how much you need to be “rich” in each state, based on the results of the data.ĭata is accurate as of July 12, 2019, and is subject to change. Census Bureau’s 2017 American Community Survey and the Economic Policy Institute’s income inequality report to determine the average income for each state, plus Washington, D.C. Perhaps even more surprising is that in some states, it’s not a huge leap from the top 5 percent to the top 1 percent. You might be surprised to learn, however, that there’s a vast discrepancy between the 5-percenters in one state as compared with some others. How much do you think you need to be rich? Although being rich isn’t necessarily all about the money, most people consider the top 5 percent and 1 percent of earners in any given state to be rich.
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