Connecticut and Massachusetts top list of income levels needed to be in top 1% in all 50 states
Asher Notheis
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Climbing into the top 1% can pose quite a challenge, especially for anyone living in Connecticut and Massachusetts.
The two states are the hardest to get into the top 1% of earners, along with New Jersey, New York, and California, all of which require residents to be making over $800,000 to be within the top earners. Other states are a bit easier to get into the top 1%, though only 13 of them require residents to make under $500,000 to attain such a level, according to data compiled by SmartAsset.
Connecticut topped the list of states where the 1% level was highest at $955,261, followed by Massachusetts at $896,932, New Jersey at $825,965, New York at $817,796, and California at $805,519. New Jersey was also the state with the highest amount of income needed to be among the top 5%, with the level at $338,884.
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The state with the lowest level of income needed to be among the top 1% was West Virginia at $374,712, followed by Mississippi at $383,128, New Mexico at $418,970, Arkansas at $446,276, and Kentucky at $447,370. West Virginia was also the state that required the lowest amount of income needed to be among the top 5% at $183,973.
This information was conducted by analyzing 2019 data from the Internal Revenue Service and adjusting said data to the 2022 standard with the consumer price index for urban wage earners and clerical workers from the Bureau of Labor Statistics.
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The average household in the United States earns a median income of under $70,000, and under 10% of all households earn over $200,000, according to the U.S. Census Bureau.