Building Wealth: How Easy Is It in Your State?

America is home to 37% of the world’s millionaires, according to the 2024 USA Wealth Report, making it one of the world’s leading wealth hubs. For those who are looking to accumulate wealth and build their fortunes, the main question to ask is: Where is the best place to live?

In light of this, experts from Wix conducted a study to see which states were the best to live in if you want to build wealth. Business experts from Wix analyzed several factors for the study, including each state’s average annual wage and the number of millionaire households to find which states were the easiest to build your fortune in.

Key findings included that of all 50 states, Texas was the easiest state to build wealth in, with 0% personal income tax and an overall score of 8.23 out of 10. Alternatively, Montana, West Virginia and Idaho were among the hardest states to accumulate wealth.

Listed below is the complete list of data from Wix’s recent study ranking states by the ease of building wealth.

Also see how much you need to earn to become rich in every state.

• Average annual wage: $57,300
• Median home price: $303,971
• Average years to become a millionaire if 50% of annual wage was saved: 35
• Number of millionaire households: 650,216 (6.3%)

• Average annual wage: $69,390
• Median home price: $250,542
• Average years to become a millionaire if 50% of annual wage was saved: 29
• Number of millionaire households: 346,873 (7.1%)

• Average annual wage: $74,870
• Median home price: $441,462
• Average years to become a millionaire if 50% of annual wage was saved: 27
• Number of millionaire households: 570,456 (7.5%)

• Average annual wage: $72,350
• Median home price: $577,353
• Average years to become a millionaire if 50% of annual wage was saved: 28
• Number of millionaire households: 233,155 (7.9%)

• Average annual wage: $67,870
• Median home price: $543,143
• Average years to become a millionaire if 50% of annual wage was saved: 29
• Number of millionaire households: 170,223 (7.5%)

• Average annual wage: $56,530
• Median home price: $218,667
• Average years to become a millionaire if 50% of annual wage was saved: 35
• Number of millionaire households: 261,157 (5.5%)

• Average annual wage: $65,590
• Median home price: $371,623
• Average years to become a millionaire if 50% of annual wage was saved: 30
• Number of millionaire households: 272,103 (8.3%)

• Average annual wage: $76,600
• Median home price: $587,875
• Average years to become a millionaire if 50% of annual wage was saved: 26
• Number of millionaire households: 254,201 (9.4%)

• Average annual wage: $58,000
• Median home price: $235,361
• Average years to become a millionaire if 50% of annual wage was saved: 34
• Number of millionaire households: 236,858 (6.0%)

• Average annual wage: $69,750
• Median home price: $405,562
• Average years to become a millionaire if 50% of annual wage was saved: 29
• Number of millionaire households: 221,189 (9.7%)

• Average annual wage: $69,310
• Median home price: $374,599
• Average years to become a millionaire if 50% of annual wage was saved: 29
• Number of millionaire households: 103,291 (9.4%)

• Average annual wage: $73,220
• Median home price: $743,362
• Average years to become a millionaire if 50% of annual wage was saved: 27
• Number of millionaire households: 1,147,251 (8.5%)

• Average annual wage: $58,000
• Median home price: $318,919
• Average years to become a millionaire if 50% of annual wage was saved: 34
• Number of millionaire households: 239,287 (6.1%)

• Average annual wage: $58,620
• Median home price: $420,494
• Average years to become a millionaire if 50% of annual wage was saved: 34
• Number of millionaire households: 161,014 (6.0%)

• Average annual wage: $58,470
• Median home price: $255,965
• Average years to become a millionaire if 50% of annual wage was saved: 34
• Number of millionaire households: 328,859 (6.4%)

• Average annual wage: $54,520
• Median home price: $238,055
• Average years to become a millionaire if 50% of annual wage was saved: 37
• Number of millionaire households: 132,176 (5.4%)

• Average annual wage: $55,980
• Median home price: $390,856
• Average years to become a millionaire if 50% of annual wage was saved: 36
• Number of millionaire households: 496,971 (5.9%)

• Average annual wage: $56,220
• Median home price: $320,096
• Average years to become a millionaire if 50% of annual wage was saved: 36
• Number of millionaire households: 224,054 (5.5%)

• Average annual wage: $63,640
• Median home price: $331,190
• Average years to become a millionaire if 50% of annual wage was saved: 31
• Number of millionaire households: 167,206 (7.4%)

• Average annual wage: $70,890
• Median home price: $484,467
• Average years to become a millionaire if 50% of annual wage was saved: 28
• Number of millionaire households: 323,443 (9.8%)

• Average annual wage: $50,940
• Median home price: $198,936
• Average years to become a millionaire if 50% of annual wage was saved: 39
• Number of millionaire households: 75,567 (4.9%)

• Average annual wage: $55,800
• Median home price: $251,062
• Average years to become a millionaire if 50% of annual wage was saved: 36
• Number of millionaire households: 20,002 (6.2%)

• Average annual wage: $54,440
• Median home price: $338,216
• Average years to become a millionaire if 50% of annual wage was saved: 37
• Number of millionaire households: 12,849 (5.5%)

• Average annual wage: $66,130
• Median home price: $351,218
• Average years to become a millionaire if 50% of annual wage was saved: 30
• Number of millionaire households: 22,302 (8.2%)

• Average annual wage: $52,820
• Median home price: $311,628
• Average years to become a millionaire if 50% of annual wage was saved: 38
• Number of millionaire households: 139,335 (5.2%)

• Average annual wage: $57,360
• Median home price: $510,934
• Average years to become a millionaire if 50% of annual wage was saved: 35
• Number of millionaire households: 71,613 (7.1%)

• Average annual wage: $56,120
• Median home price: $285,037
• Average years to become a millionaire if 50% of annual wage was saved: 36
• Number of millionaire households: 138,283 (5.8%)

• Average annual wage: $64,530
• Median home price: $432,888
• Average years to become a millionaire if 50% of annual wage was saved: 31
• Number of millionaire households: 28,165 (6.7%)

• Average annual wage: $62,550
• Median home price: $446,839
• Average years to become a millionaire if 50% of annual wage was saved: 32
• Number of millionaire households: 45,758 (8.5%)

• Average annual wage: $55,490
• Median home price: $416,340
• Average years to become a millionaire if 50% of annual wage was saved: 36
• Number of millionaire households: 63,752 (5.6%)

• Average annual wage: $55,070
• Median home price: $254,916
• Average years to become a millionaire if 50% of annual wage was saved: 36
• Number of millionaire households: 45,130 (5.9%)

• Average annual wage: $62,260
• Median home price: $370,405
• Average years to become a millionaire if 50% of annual wage was saved: 32
• Number of millionaire households: 25,937 (7.0%)

• Average annual wage: $52,850
• Median home price: $215,642
• Average years to become a millionaire if 50% of annual wage was saved: 38
• Number of millionaire households: 66,406 (5.8%)

• Average annual wage: $53,500
• Median home price: $231,660
• Average years to become a millionaire if 50% of annual wage was saved: 37
• Number of millionaire households: 138,739 (5.3%)

• Average annual wage: $62,680
• Median home price: $498,558
• Average years to become a millionaire if 50% of annual wage was saved: 32
• Number of millionaire households: 108,858 (6.4%)

• Average annual wage: $51,490
• Median home price: $200,955
• Average years to become a millionaire if 50% of annual wage was saved: 39
• Number of millionaire households: 83,624 (4.7%)

• Average annual wage: $50,650
• Median home price: $288,816
• Average years to become a millionaire if 50% of annual wage was saved: 39
• Number of millionaire households: 108,812 (5.4%)

Check Out: 10 Ways To Build Wealth Fast

• Average annual wage: $53,520
• Median home price: $211,054
• Average years to become a millionaire if 50% of annual wage was saved: 37
• Number of millionaire households: 73,129 (5.7%)

• Average annual wage: $49,980
• Median home price: $296,109
• Average years to become a millionaire if 50% of annual wage was saved: 40
• Number of millionaire households: 18,905 (5.3%)

• Average annual wage: $54,400
• Median home price: $292,822
• Average years to become a millionaire if 50% of annual wage was saved: 37
• Number of millionaire households: 40,450 (5.0%)

• Average annual wage: $48,570
• Median home price: $199,636
• Average years to become a millionaire if 50% of annual wage was saved: 41
• Number of millionaire households: 51,532 (4.3%)

• Average annual wage: $61,420
• Median home price: $837,324
• Average years to become a millionaire if 50% of annual wage was saved: 33
• Number of millionaire households: 44,383 (9.2%)

• Average annual wage: $45,180
• Median home price: $172,654
• Average years to become a millionaire if 50% of annual wage was saved: 44
• Number of millionaire households: 47,279 (4.2%)

• Average annual wage: $50,620
• Median home price: $223,246
• Average years to become a millionaire if 50% of annual wage was saved: 40
• Number of millionaire households: 94,259 (4.9%)

• Average annual wage: $50,940
• Median home price: $200,370
• Average years to become a millionaire if 50% of annual wage was saved: 39
• Number of millionaire households: 87,565 (4.8%)

• Average annual wage: $59,190
• Median home price: $380,266
• Average years to become a millionaire if 50% of annual wage was saved: 34
• Number of millionaire households: 16,411 (6.3%)

• Average annual wage: $55,960
• Median home price: $383,137
• Average years to become a millionaire if 50% of annual wage was saved: 36
• Number of millionaire households: 31,933 (5.6%)

• Average annual wage: $52,200
• Median home price: $446,602
• Average years to become a millionaire if 50% of annual wage was saved: 38
• Number of millionaire households: 23,785 (5.3%)

• Average annual wage: $49,170
• Median home price: $155,773
• Average years to become a millionaire if 50% of annual wage was saved: 41
• Number of millionaire households: 31,535 (4.2%)

• Average annual wage: $51,530
• Median home price: $442,820
• Average years to become a millionaire if 50% of annual wage was saved: 39
• Number of millionaire households: 33,656 (5.1%)