Did you know America’s Top 1%: How Much You Need to Earn Annually to Join the Elite
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.
| 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 |