Reaching the top 1% in America? Your income depends on which state you call home.
In some states, you need to earn at least $1 million annually to be among 1% top earners, but in some states, earning about $500,000 is more than enough to be in the top 1%. SmartAsset analyzed the recent IRS data for individual tax filers to figure out what average incomes are in each state and how much you need to earn to become top earners. Taking a wider view, a person needs to earn $787,782 annually to be in the top 1% earners in America. The median salary of average Americans is about $75,000 annually, while most of the US citizens earn even less than that too.
The states where you need to earn more than $1 million to be in their top 1% earners are Connecticut, Massachusetts and California. $1,152,254 annual salary is required to be among the top 1% earners in Connecticut. Followed by Connecticut is Massachusetts with $1,113,662 required to be earned annually to be in the top 1% earners while $1,035,673 need to be earned annually to be among the top 1% earners in California.
Washington requires people to earn $989,649 annually to be among their top 1% earners. The fifth state is New Jersey with $975,645 needed to be earned annually to be among their top 1% earners. The five states that doesn't require you to earn that much to be in their top 1% are Arkansas ($531,692), Kentucky ($513,692), New Mexico ($476,196), Mississippi ($440,744) and West Virginia ($420,453). To put all of this into perspective, if you are earning $65,000 annually, it is enough for you to be the top 1% earners globally.
Read next: Global Revenue Leaders Show Retail, Energy, and Tech Giants Shaping the Economic Landscape
In some states, you need to earn at least $1 million annually to be among 1% top earners, but in some states, earning about $500,000 is more than enough to be in the top 1%. SmartAsset analyzed the recent IRS data for individual tax filers to figure out what average incomes are in each state and how much you need to earn to become top earners. Taking a wider view, a person needs to earn $787,782 annually to be in the top 1% earners in America. The median salary of average Americans is about $75,000 annually, while most of the US citizens earn even less than that too.
The states where you need to earn more than $1 million to be in their top 1% earners are Connecticut, Massachusetts and California. $1,152,254 annual salary is required to be among the top 1% earners in Connecticut. Followed by Connecticut is Massachusetts with $1,113,662 required to be earned annually to be in the top 1% earners while $1,035,673 need to be earned annually to be among the top 1% earners in California.
Washington requires people to earn $989,649 annually to be among their top 1% earners. The fifth state is New Jersey with $975,645 needed to be earned annually to be among their top 1% earners. The five states that doesn't require you to earn that much to be in their top 1% are Arkansas ($531,692), Kentucky ($513,692), New Mexico ($476,196), Mississippi ($440,744) and West Virginia ($420,453). To put all of this into perspective, if you are earning $65,000 annually, it is enough for you to be the top 1% earners globally.
| State | Income of the top 1% of earners in 2024 |
|---|---|
| Connecticut | $1,152,254 |
| Massachusetts | $1,113,662 |
| California | $1,035,673 |
| Washington | $989,649 |
| New Jersey | $975,645 |
| New York | $965,645 |
| Colorado | $865,700 |
| Florida | $852,206 |
| Wyoming | $843,121 |
| New Hampshire | $811,098 |
| Utah | $784,233 |
| Illinois | $783,340 |
| Nevada | $777,180 |
| Texas | $762,090 |
| Virginia | $760,610 |
| Maryland | $741,501 |
| Minnesota | $730,096 |
| South Dakota | $727,168 |
| Montana | $715,899 |
| Idaho | $703,997 |
| Georgia | $700,544 |
| Pennsylvania | $696,192 |
| Arizona | $688,934 |
| North Dakota | $684,124 |
| Oregon | $683,170 |
| Tennessee | $678,956 |
| North Carolina | $665,021 |
| Kansas | $651,226 |
| Rhode Island | $650,914 |
| Nebraska | $629,413 |
| Vermont | $623,244 |
| Alaska | $620,783 |
| Delaware | $618,488 |
| South Carolina | $611,219 |
| Wisconsin | $610,435 |
| Hawaii | $609,846 |
| Michigan | $603,834 |
| Missouri | $590,001 |
| Maine | $588,394 |
| Louisiana | $587,399 |
| Ohio | $581,161 |
| Iowa | $571,730 |
| Alabama | $557,334 |
| Indiana | $552,877 |
| Oklahoma | $540,879 |
| Arkansas | $531,692 |
| Kentucky | $513,865 |
| New Mexico | $476,196 |
| Mississippi | $440,744 |
Read next: Global Revenue Leaders Show Retail, Energy, and Tech Giants Shaping the Economic Landscape
