Here’s How Much You Need To Earn To Be ‘Rich’ in Every State
Comedian Chris Rock has an old joke about how bad Bill Gates would feel if he woke up one day with Oprah's money. The point was that "rich" is a subjective term. The same holds true if you make a lot of money in America -- where you live has a lot to do with whether you can think of yourself as truly wealthy.
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To get an idea of what it means to be rich in America, GOBankingRates used IRS data to conduct a study of the top incomes as they break down by state. It lays out what income level is needed to place you in the top 5% and the top 1% of incomes within your state.
Check out how much money you need to be "rich" in your state.
Last updated: Aug. 2, 2021
50. Wyoming
Average adjusted gross income of the top 5%: $675,561
The minimum you need to make to be in the top 5%: $194,473
Average adjusted gross income of the top 1%: $2,245,174
The minimum you need to make to be in the top 1%: $188,693
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49. Vermont
Average adjusted gross income of the top 5%: $406,076
The minimum you need to make to be in the top 5%: $188,144
Average adjusted gross income of the top 1%: $1,002,454
The minimum you need to make to be in the top 1%: $226,489
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48. Alaska
Average adjusted gross income of the top 5%: $410,354
The minimum you need to make to be in the top 5%: $210,294
Average adjusted gross income of the top 1%: $936,890
The minimum you need to make to be in the top 1%: $238,671
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47. North Dakota
Average adjusted gross income of the top 5%: $464,179
The minimum you need to make to be in the top 5%: $203,849
Average adjusted gross income of the top 1%: $1,173,821
The minimum you need to make to be in the top 1%: $250,253
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46. South Dakota
Average adjusted gross income of the top 5%: $494,910
The minimum you need to make to be in the top 5%: $185,567
Average adjusted gross income of the top 1%: $1,414,152
The minimum you need to make to be in the top 1%: $285,414
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45. Delaware
Average adjusted gross income of the top 5%: $436,983
The minimum you need to make to be in the top 5%: $202,834
Average adjusted gross income of the top 1%: $1,095,713
The minimum you need to make to be in the top 1%: $326,408
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44. Montana
Average adjusted gross income of the top 5%: $417,789
The minimum you need to make to be in the top 5%: $179,579
Average adjusted gross income of the top 1%: $1,078,275
The minimum you need to make to be in the top 1%: $352,036
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43. Rhode Island
Average adjusted gross income of the top 5%: $456,877
The minimum you need to make to be in the top 5%: $201,027
Average adjusted gross income of the top 1%: $1,187,791
The minimum you need to make to be in the top 1%: $371,024
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42. Maine
Average adjusted gross income of the top 5%: $369,120
The minimum you need to make to be in the top 5%: $177,784
Average adjusted gross income of the top 1%: $870,414
The minimum you need to make to be in the top 1%: $461,534
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41. New Hampshire
Average adjusted gross income of the top 5%: $547,212
The minimum you need to make to be in the top 5%: $232,884
Average adjusted gross income of the top 1%: $1,460,801
The minimum you need to make to be in the top 1%: $486,812
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40. Hawaii
Average adjusted gross income of the top 5%: $393,244
The minimum you need to make to be in the top 5%: $194,185
Average adjusted gross income of the top 1%: $929,822
The minimum you need to make to be in the top 1%: $486,885
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39. West Virginia
Average adjusted gross income of the top 5%: $296,752
The minimum you need to make to be in the top 5%: $156,296
Average adjusted gross income of the top 1%: $667,368
The minimum you need to make to be in the top 1%: $536,706
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38. Idaho
Average adjusted gross income of the top 5%: $429,389
The minimum you need to make to be in the top 5%: $180,694
Average adjusted gross income of the top 1%: $1,138,855
The minimum you need to make to be in the top 1%: $542,846
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37. Nebraska
Average adjusted gross income of the top 5%: $437,912
The minimum you need to make to be in the top 5%: $189,432
Average adjusted gross income of the top 1%: $1,147,617
The minimum you need to make to be in the top 1%: $618,967
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36. New Mexico
Average adjusted gross income of the top 5%: $347,186
The minimum you need to make to be in the top 5%: $169,544
Average adjusted gross income of the top 1%: $837,388
The minimum you need to make to be in the top 1%: $652,973
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35. Mississippi
Average adjusted gross income of the top 5%: $316,218
The minimum you need to make to be in the top 5%: $154,076
Average adjusted gross income of the top 1%: $759,755
The minimum you need to make to be in the top 1%: $856,502
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34. Arkansas
Average adjusted gross income of the top 5%: $460,231
The minimum you need to make to be in the top 5%: $167,995
Average adjusted gross income of the top 1%: $1,378,629
The minimum you need to make to be in the top 1%: $862,972
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33. Kansas
Average adjusted gross income of the top 5%: $480,214
The minimum you need to make to be in the top 5%: $195,014
Average adjusted gross income of the top 1%: $1,314,656
The minimum you need to make to be in the top 1%: $916,179
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32. Utah
Average adjusted gross income of the top 5%: $517,405
The minimum you need to make to be in the top 5%: $198,875
Average adjusted gross income of the top 1%: $1,461,523
The minimum you need to make to be in the top 1%: $929,210
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31. Iowa
Average adjusted gross income of the top 5%: $399,217
The minimum you need to make to be in the top 5%: $184,729
Average adjusted gross income of the top 1%: $998,306
The minimum you need to make to be in the top 1%: $1,002,590
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30. Nevada
Average adjusted gross income of the top 5%: $653,809
The minimum you need to make to be in the top 5%: $187,250
Average adjusted gross income of the top 1%: $2,184,285
The minimum you need to make to be in the top 1%: $1,021,773
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29. Oklahoma
Average adjusted gross income of the top 5%: $423,236
The minimum you need to make to be in the top 5%: $180,281
Average adjusted gross income of the top 1%: $1,109,039
The minimum you need to make to be in the top 1%: $1,141,290
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28. Connecticut
Average adjusted gross income of the top 5%: $916,467
The minimum you need to make to be in the top 5%: $284,571
Average adjusted gross income of the top 1%: $2,840,261
The minimum you need to make to be in the top 1%: $1,214,099
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27. Kentucky
Average adjusted gross income of the top 5%: $392,940
The minimum you need to make to be in the top 5%: $168,243
Average adjusted gross income of the top 1%: $1,047,733
The minimum you need to make to be in the top 1%: $1,326,353
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26. Louisiana
Average adjusted gross income of the top 5%: $421,111
The minimum you need to make to be in the top 5%: $182,159
Average adjusted gross income of the top 1%: $1,095,274
The minimum you need to make to be in the top 1%: $1,373,267
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25. Oregon
Average adjusted gross income of the top 5%: $469,205
The minimum you need to make to be in the top 5%: $208,235
Average adjusted gross income of the top 1%: $1,193,735
The minimum you need to make to be in the top 1%: $1,375,913
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24. Alabama
Average adjusted gross income of the top 5%: $391,345
The minimum you need to make to be in the top 5%: $176,514
Average adjusted gross income of the top 1%: $999,352
The minimum you need to make to be in the top 1%: $1,434,586
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23. South Carolina
Average adjusted gross income of the top 5%: $417,071
The minimum you need to make to be in the top 5%: $184,484
Average adjusted gross income of the top 1%: $1,064,627
The minimum you need to make to be in the top 1%: $1,576,731
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22. Minnesota
Average adjusted gross income of the top 5%: $529,895
The minimum you need to make to be in the top 5%: $222,531
Average adjusted gross income of the top 1%: $1,405,745
The minimum you need to make to be in the top 1%: $1,909,454
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21. Colorado
Average adjusted gross income of the top 5%: $601,099
The minimum you need to make to be in the top 5%: $241,394
Average adjusted gross income of the top 1%: $1,645,616
The minimum you need to make to be in the top 1%: $1,921,517
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20. Missouri
Average adjusted gross income of the top 5%: $457,214
The minimum you need to make to be in the top 5%: $184,534
Average adjusted gross income of the top 1%: $1,264,240
The minimum you need to make to be in the top 1%: $1,939,775
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19. Wisconsin
Average adjusted gross income of the top 5%: $447,181
The minimum you need to make to be in the top 5%: $186,922
Average adjusted gross income of the top 1%: $1,203,326
The minimum you need to make to be in the top 1%: $1,973,354
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18. Maryland
Average adjusted gross income of the top 5%: $535,350
The minimum you need to make to be in the top 5%: $242,113
Average adjusted gross income of the top 1%: $1,368,091
The minimum you need to make to be in the top 1%: $2,095,881
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17. Tennessee
Average adjusted gross income of the top 5%: $478,462
The minimum you need to make to be in the top 5%: $184,116
Average adjusted gross income of the top 1%: $1,346,134
The minimum you need to make to be in the top 1%: $2,120,576
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16. Indiana
Average adjusted gross income of the top 5%: $396,034
The minimum you need to make to be in the top 5%: $176,199
Average adjusted gross income of the top 1%: $1,017,307
The minimum you need to make to be in the top 1%: $2,162,591
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15. Arizona
Average adjusted gross income of the top 5%: $474,189
The minimum you need to make to be in the top 5%: $198,158
Average adjusted gross income of the top 1%: $1,268,048
The minimum you need to make to be in the top 1%: $2,176,148
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14. Massachusetts
Average adjusted gross income of the top 5%: $842,977
The minimum you need to make to be in the top 5%: $287,128
Average adjusted gross income of the top 1%: $2,539,953
The minimum you need to make to be in the top 1%: $2,380,834
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13. Washington
Average adjusted gross income of the top 5%: $654,926
The minimum you need to make to be in the top 5%: $258,985
Average adjusted gross income of the top 1%: $1,801,457
The minimum you need to make to be in the top 1%: $2,542,112
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12. Virginia
Average adjusted gross income of the top 5%: $547,782
The minimum you need to make to be in the top 5%: $246,917
Average adjusted gross income of the top 1%: $1,412,355
The minimum you need to make to be in the top 1%: $2,770,602
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11. New Jersey
Average adjusted gross income of the top 5%: $694,357
The minimum you need to make to be in the top 5%: $282,184
Average adjusted gross income of the top 1%: $1,855,914
The minimum you need to make to be in the top 1%: $3,055,574
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10. Georgia
Average adjusted gross income of the top 5%: $510,511
The minimum you need to make to be in the top 5%: $205,702
Average adjusted gross income of the top 1%: $1,386,410
The minimum you need to make to be in the top 1%: $3,180,691
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9. North Carolina
Average adjusted gross income of the top 5%: $460,030
The minimum you need to make to be in the top 5%: $199,164
Average adjusted gross income of the top 1%: $1,188,279
The minimum you need to make to be in the top 1%: $3,227,607
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8. Michigan
Average adjusted gross income of the top 5%: $465,295
The minimum you need to make to be in the top 5%: $190,597
Average adjusted gross income of the top 1%: $1,281,016
The minimum you need to make to be in the top 1%: $3,286,929
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7. Ohio
Average adjusted gross income of the top 5%: $420,927
The minimum you need to make to be in the top 5%: $180,485
Average adjusted gross income of the top 1%: $1,100,839
The minimum you need to make to be in the top 1%: $3,871,661
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6. Illinois
Average adjusted gross income of the top 5%: $631,236
The minimum you need to make to be in the top 5%: $228,565
Average adjusted gross income of the top 1%: $1,842,478
The minimum you need to make to be in the top 1%: $4,196,255
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5. Pennsylvania
Average adjusted gross income of the top 5%: $509,902
The minimum you need to make to be in the top 5%: $209,157
Average adjusted gross income of the top 1%: $1,372,479
The minimum you need to make to be in the top 1%: $4,296,323
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4. New York
Average adjusted gross income of the top 5%: $844,193
The minimum you need to make to be in the top 5%: $242,506
Average adjusted gross income of the top 1%: $2,739,623
The minimum you need to make to be in the top 1%: $6,805,717
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3. Florida
Average adjusted gross income of the top 5%: $682,615
The minimum you need to make to be in the top 5%: $203,827
Average adjusted gross income of the top 1%: $2,190,557
The minimum you need to make to be in the top 1%: $7,140,788
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2. Texas
Average adjusted gross income of the top 5%: $585,405
The minimum you need to make to be in the top 5%: $216,799
Average adjusted gross income of the top 1%: $1,681,737
The minimum you need to make to be in the top 1%: $8,751,910
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1. California
Average adjusted gross income of the top 5%: $758,257
The minimum you need to make to be in the top 5%: $266,020
Average adjusted gross income of the top 1%: $2,238,758
The minimum you need to make to be in the top 1%: $12,715,259
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United States
Average adjusted gross income of the top 5%: $591,187
The minimum you need to make to be in the top 5%: $219,840
Average adjusted gross income of the top 1%: $1,697,006
The minimum you need to make to be in the top 1%: $545,978
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John Csiszar contributed to the reporting for this article.
Methodology: GOBankingRates analyzed IRS data for the 2018 tax year to find (1) the average adjusted gross income of the top 5% of filers, (2) the adjusted gross income cutoff for the top 5% of filers, (3) the average adjusted gross income of the top 1% of filers, and (4) the adjusted gross income cutoff for the top 1% of filers. All data were collected on and up to date as of Feb. 16, 2021.
This article originally appeared on GOBankingRates.com: Here’s How Much You Need To Earn To Be ‘Rich’ in Every State
