10 States Where You Need the Least — and the Most — Income To Be in the Top 1%

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Who doesn’t want to be in the top 1% of earners in the U.S.? It’s like the American Dream on steroids. You can comfortably live in a huge house, drive a luxury car, turbo-fund your retirement and access elite tax breaks. How much do you need to be in the 1%? It depends on where you live. And in some states, like West Virginia and Mississippi, it’s probably less than you think. But in other states, like California and Massachusetts, it’s possibly more than you can imagine — close to or even north of $1 million annually.

In a new study, GOBankingRates analyzed individual income data for each state to find how much you need to earn to be in the top 1% in every state to show you the ones where it takes the least and most money.

Key findings: 

• California has the highest percentage of 1% earners. Texas ranks No. 2 and Florida comes in third.
• There are three states where it takes an income of less than $500,000 to be in the top 1%.
• In five states, you need to make close to or over $1 million a year to be in the top 1%.

States Where You Need the Least

Here’s a look at the 10 states where you can be in the top 1% with the least income.

50. West Virginia 

• Household median income: $57,917
• Income floor on the top 1% of earners in 2022: $384,369
• Income floor on the top 1% of earners in 2025: $434,301
• Number of tax returns for the top 1% of earners: 7,316 

49. Mississippi

• Household median income: $54,915  
• Income floor on the top 1% of earners in 2022: $405,760
• Income floor on the top 1% of earners in 2025: $458,471
• Number of tax returns for the top 1% of earners: 11,731  

48. New Mexico 

• Household median income: $62,125  
• Income floor on the top 1% of earners in 2022: $416,987
• Income floor on the top 1% of earners in 2025: $471,156  
• Number of tax returns for the top 1% of earners: 9,310  

47. Kentucky 

• Household median income: $62,417  
• Income floor on the top 1% of earners in 2022: $458,204
• Income floor on the top 1% of earners in 2025: $517,727  
• Number of tax returns for the top 1% of earners: 18,395  

46. Arkansas 

• Household median income: $58,773
• Income floor on the top 1% of earners in 2022: $478,036
• Income floor on the top 1% of earners in 2025: $540,136  
• Number of tax returns for the top 1% of earners: 12,198  

45. Indiana 

• Household median income: $70,051
• Income floor on the top 1% of earners in 2022: $490,566
• Income floor on the top 1% of earners in 2025: $554,293  
• Number of tax returns for the top 1% of earners: 30,120 

44. Alabama 

• Household median income: $62,027 
• Income floor on the top 1% of earners in 2022: $491,737
• Income floor on the top 1% of earners in 2025: $555,617  
• Number of tax returns for the top 1% of earners: 20,185  

43. Oklahoma 

• Household median income: $63,603  
• Income floor on the top 1% of earners in 2022: $502,889
• Income floor on the top 1% of earners in 2025: $568,217 
• Number of tax returns for the top 1% of earners: 16,106  

42. Ohio

• Household median income: $69,680  
• Income floor on the top 1% of earners in 2022: $508,470
• Income floor on the top 1% of earners in 2025: $574,523  
• Number of tax returns for the top 1% of earners: 53,103  

41. Maine

• Household median income: $71,773  
• Income floor on the top 1% of earners in 2022: $508,666
• Income floor on the top 1% of earners in 2025: $574,745  
• Number of tax returns for the top 1% of earners: 6,618   

States Where You Need the Most

Here’s a look at the states where it will take the most income to be in the top 1%.

10. Texas

• Household median income: $76,292 
• Income floor on the top 1% of earners in 2022: $686,876 
• Income floor on the top 1% of earners in 2025: $776,105 
• Number of tax returns for the top 1% of earners: 128,130

9. Wyoming 

• Household median income: $74,815  
• Income floor on the top 1% of earners in 2022: $712,186 
• Income floor on the top 1% of earners in 2025: $804,703 
• Number of tax returns for the top 1% of earners: 2,611

8. Colorado 

• Household median income: $92,470  
• Income floor on the top 1% of earners in 2022: $713,682
• Income floor on the top 1% of earners in 2025: $806,394 
• Number of tax returns for the top 1% of earners: 27,685

7. Washington 

• Household median income: $94,952  
• Income floor on the top 1% of earners in 2022: $756,256 
• Income floor on the top 1% of earners in 2025: $854,498 
• Number of tax returns for the top 1% of earners: 35,597

6. Florida 

• Household median income: $71,711  
• Income floor on the top 1% of earners in 2022: $793,446 
• Income floor on the top 1% of earners in 2025: $896,520 
• Number of tax returns for the top 1% of earners: 105,101

5. New York 

• Household median income: $84,578  
• Income floor on the top 1% of earners in 2022: $823,230
• Income floor on the top 1% of earners in 2025: $930,174 
• Number of tax returns for the top 1% of earners: 91,840

4. New Jersey 

• Household median income: $101,050  
• Income floor on the top 1% of earners in 2022: $831,947 
• Income floor on the top 1% of earners in 2025: $940,022 
• Number of tax returns for the top 1% of earners: 43,042

3. California 

• Household median income: $96,334  
• Income floor on the top 1% of earners in 2022: $835,930 
• Income floor on the top 1% of earners in 2025: $944,523 
• Number of tax returns for the top 1% of earners: 175,045

2. Massachusetts

• Household median income: $101,341  
• Income floor on the top 1% of earners in 2022: $891,118 
• Income floor on the top 1% of earners in 2025: $1,006,880 
• Number of tax returns for the top 1% of earners: 32,795

1. Connecticut

• Household median income: $93,760  
• Income floor on the top 1% of earners in 2022: $975,899 
• Income floor on the top 1% of earners in 2025: $1,102,675 
• Number of tax returns for the top 1% of earners: 16,917

Methodology: For this study, GOBankingRates analyzed individual income data for each state as sourced from the IRS’ SOI Tax Stats along with the number of returns for the top 1%, income floor for the top 1% earners and the income floor for the top 5% earners. The total population, population ages 65 and over, total households and household median income were all sourced from the U.S. Census American Community Survey. The average single-family house value was sourced from Zillow Home Value Index for January 2025. Using the income floor values from the 2022 IRS data and using the BLS’ CPI Inflation Calculator, the 2025 equivalent can be calculated. The states were sorted to show the highest to lowest income needed. All data was collected on and is up to date as of March 14, 2025.

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