Here's the income it takes for a family to be part of the 1% in every state
- A family in the United States needs an annual income of at least $421,926 to be in the top 1% of earners, according to Economic Policy Institute data.
- The minimum income needed to be in the top 1% in every state ranges from $255,000 in Arkansas to more than $700,000 in Connecticut.
- In 19 states, the annual income required to be in the 1% tops $400,000.
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The feeling of being wealthy is largely relative. One man's "rich" may be another man's "broke."Economically, however, the delineation is clear. A family in the United States needs a minimum annual income of $421,926 to be in the top 1% of earners, according to data adapted from an Economic Policy Institute report originally published in July 2018.Advertisement
The average income for families in the top 1%? $1,316,985.
"In 2015, a family in the top 1 percent nationally received, on average, 26.3 times as much income as a family in the bottom 99 percent," the researchers, Estelle Sommelier and Mark Price, wrote.In this data, the term family is used to represent one tax unit - either a single adult or married couple who files taxes and may or may not have dependents - and all figures are from 2015. The minimum income needed to be in the top 1% in every state ranges from $255,000 in Arkansas to more than $700,000 in Connecticut.
Below, find out how much annual income it takes to be part of the 1% in every state, plus the average annual income of families in the 1%. The states and Washington, DC, are ranked in ascending order by annual income.
49. New Mexico
48. West VirginiaAdvertisement
40. South CarolinaAdvertisement
28. North CarolinaAdvertisement
27. Rhode Island
18. New HampshireAdvertisement
16. South DakotaAdvertisement
14. North DakotaAdvertisement
5. New York
3. New Jersey
2. Washington, DCAdvertisement
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