The Best and Worst States To Be Rich in America

While money doesn’t solve every problem, having more of it certainly makes life easier. That is, until tax time. Depending on which state you live in, being rich means you’re paying a greater share of your income to the government and also in such things as property taxes.

To find out which states are the best and the worst to be rich in America, GOBankingRates considered earners that fall into the fourth or fifth quintile of earners — the top 60%-100% of income earners. Using the U.S. Census American Community Survey, a number of factors were found for each state, including average income by quintile, median property tax paid and median home value. State income tax data was sourced from Tax Foundation’s State Income Tax Rates.

States that are friendlier to the rich included those without a state income tax, such as Nevada, Tennessee and Washington. States that were less friendly included Oregon, New Jersey and Illinois.

Read on to find out which states are best and worst to be rich in, ranked from worst to best.

• Average income for the rich: $188,090
• Effective state income tax for single filers: 8.8%
• Effective state income tax for married filers: 8.2%
• Median property tax rate: 0.8%

• Average income for the rich:  $248,938
• Effective state income tax for single filers: 5.5%
• Effective state income tax for married filers: 4.7%
• Median property tax rate: 2.1%

• Average income for the rich:  $197,943
• Effective state income tax for single filers: 5.0%
• Effective state income tax for married filers: 5.0%
• Median property tax rate: 2.1%

• Average income for the rich:  $241,120
• Effective state income tax for single filers: 5.7%
• Effective state income tax married filers: 5.2%
• Median property tax rate: 1.8%

• Average income for the rich:  $228,820
• Effective state income tax for single filers: ​​5.6%
• Effective state income tax for married filers: 5.1%
• Median property tax rate: 1.6%

• Average income for the rich:  $174,459
• Effective state income tax for single filers: 5.9%
• Effective state income tax for married filers: 4.8%
• Median property tax rate: 1.6%

• Average income for the rich:  $166,465
• Effective state income tax for single filers: 5.7%
• Effective state income tax for married filers: 5.4%
• Median property tax rate: 1.5%

• Average income for the rich:  $171,678
• Effective state income tax for single filers: 5.8%
• Effective state income tax for married filers: 4.9%
• Median property tax rate: 1.5%

• Average income for the rich:  $246,928
• Effective state income tax for single filers: 7.8%
• Effective state income tax for married filers: 6.3%
• Median property tax rate: 0.8%

• Average income for the rich:  $218,852
• Effective state income tax for single filers: 8.3%
• Effective state income tax for married filers: 7.4%
• Median property tax rate: 0.3%

• Average income for the rich:  $197,991
• Effective state income tax for single filers: 6.6%
• Effective state income tax for married filers: 5.5%
• Median property tax rate: 1.0%

• Average income for the rich:  $169,569
• Effective state income tax for single filers: 5.3%
• Effective state income tax for married filers: 4.9%
• Median property tax rate: 1.4%

• Average income for the rich:  $169,612
• Effective state income tax for single filers: 6.3%
• Effective state income tax for married filers: 5.4%
• Median property tax rate: 1.0%

• Average income for the rich:  $169,036
• Effective state income tax for single filers: 4.7%
• Effective state income tax for married filers: 4.3%
• Median property tax rate: 1.4%

• Average income for the rich:  $164,826
• Effective state income tax for single filers: 6.1%
• Effective state income tax for married filers: 5.9%
• Median property tax rate: 0.7%

• Average income for the rich: $251,957
• Effective state income tax for single filers: 5.0%
• Effective state income tax for married filers: 5.0%
• Median property tax rate: 1.0%

• Average income for the rich:  $183,571
• Effective state income tax for single filers: 5.5%
• Effective state income tax for married filers: 5.4%
• Median property tax rate: 0.8%

• Average income for the rich:  $163,190
• Effective state income tax for single filers: 6.1%
• Effective state income tax for married filers: 6.1%
• Median property tax rate: 0.5%

• Average income for the rich:  $168,107
• Effective state income tax for single filers: 4.3%
• Effective state income tax for married filers: 4.3%
• Median property tax rate: 1.3%

• Average income for the rich:  $139,555
• Effective state income tax for single filers: 5.7%
• Effective state income tax for married filers: 5.7%
• Median property tax rate: 0.7%

• Average income for the rich: $228,803
• Effective state income tax for single filers: 5.0%
• Effective state income tax for married filers: 4.8%
• Median property tax rate: 1.0%

• Average income for the rich: $219,755
• Effective state income tax for single filers: 5.4%
• Effective state income tax for married filers: 5.2%
• Median property tax rate: 0.8%

• Average income for the rich: $187,458
• Effective state income tax for single filers: 5.9%
• Effective state income tax for married filers: 5.8%
• Median property tax rate: 0.5%

• Average income for the rich:  $196,784
• Effective state income tax for single filers: 4.4%
• Effective state income tax for married filers: 4.1%
• Median property tax rate: 1.2%

• Average income for the rich: $134,914
• Effective state income tax for single filers: 4.5%
• Effective state income tax for married filers: 4.5%
• Median property tax rate: 0.9%

• Average income for the rich: $152,313
• Effective state income tax for single filers: 4.4%
• Effective state income tax for married filers: 4.1%
• Median property tax rate: 1.0%

• Average income for the rich: $153,459
• Effective state income tax for single filers: 4.4%
• Effective state income tax for married filers: 4.3%
• Median property tax rate: 0.9%

• Average income for the rich: $184,790
• Effective state income tax for single filers: 3.1%
• Effective state income tax for married filers: 3.1%
• Median property tax rate: 1.4%

• Average income for the rich: $161,909
• Effective state income tax for single filers: 4.4%
• Effective state income tax for married filers: 4.0%
• Median property tax rate: 0.9%

• Average income for the rich: $167,807
• Effective state income tax for single filers: 5.3%
• Effective state income tax for married filers: 4.8%
• Median property tax rate: 0.5%

• Average income for the rich:  $142,137
• Effective state income tax for single filers: 4.7%
• Effective state income tax for married filers: ​​4.6%
• Median property tax rate: 0.7%

• Average income for the rich: $165,025
• Effective state income tax for single filers: 3.0%
• Effective state income tax for married filers: 3.0%
• Median property tax rate: 1.4%

• Average income for the rich: $199,574
• Effective state income tax for single filers: 4.8%
• Effective state income tax for married filers: 4.8%
• Median property tax rate: 0.5%

• Average income for the rich: $152,867
• Effective state income tax for single filers: 4.3%
• Effective state income tax for married filers: 3.7%
• Median property tax rate: 0.8%

• Average income for the rich: $173,857
• Effective state income tax for single filers: 4.4%
• Effective state income tax for married filers: 4.1%
• Median property tax rate: 0.7%

• Average income for the rich: $154,540
• Effective state income tax for single filers: 4.9%
• Effective state income tax for married filers: 4.7%
• Median property tax rate: 0.4%

• Average income for the rich: $148,927
• Effective state income tax for single filers: 3.9%
• Effective state income tax for married filers: 3.5%
• Median property tax rate: 0.7%

• Average income for the rich: $215,298
• Effective state income tax for single filers: 4.1%
• Effective state income tax for married filers: 3.8%
• Median property tax rate: 0.5%

• Average income for the rich: $160,247
• Effective state income tax for single filers: 3.2%
• Effective state income tax for married filers: 3.2%
• Median property tax rate: 0.7%

• Average income for the rich: $188,281
• Effective state income tax for single filers: 0.0%
• Effective state income tax for married filers: 0.0%
• Median property tax rate: 1.9%

• Average income for the rich: $177,743
• Effective state income tax for single filers: 1.7%
• Effective state income tax for married filers: 1.4%
• Median property tax rate: 1.1%

• Average income for the rich: $214,491
• Effective state income tax for single filers: 0.0%
• Effective state income tax for married filers: 0.0%
• Median property tax rate: 1.7%

• Average income for the rich: $184,483
• Effective state income tax for single filers: 2.3%
• Effective state income tax for married filers: 2.1%
• Median property tax rate: 0.5%

• Average income for the rich: $192,000
• Effective state income tax for single filers: 0.0%
• Effective state income tax for married filers: 0.0%
• Median property tax rate: 1.2%

• Average income for the rich: $162,478
• Effective state income tax for single filers: 0.0%
• Effective state income tax for married filers: 0.0%
• Median property tax rate: 1.1%

• Average income for the rich: $184,869
• Effective state income tax for single filers: 0.0%
• Effective state income tax for married filers: 0.0%
• Median property tax rate: 0.8%

• Average income for the rich: $231,100
• Effective state income tax for single filers: 0.0%
• Effective state income tax for married filers: 0.0%
• Median property tax rate: 0.8%

• Average income for the rich: $160,761
• Effective state income tax for single filers: 0.0%
• Effective state income tax for married filers: 0.0%
• Median property tax rate: 0.6%

• Average income for the rich: $164,299
• Effective state income tax for single filers: 0.0%
• Effective state income tax for married filers: 0.0%
• Median property tax rate: 0.5%

• Average income for the rich: $179,414
• Effective state income tax for single filers: 0.0%
• Effective state income tax for married filers: 0.0%
• Median property tax rate: 0.4%

Methodology: For this study, GOBankingRates analyzed each state to find out which state is the best and the worst for residents who are considered rich. For this study, “rich” is considered earners that fall into the fourth or fifth quintile of earners: the top 60%-100% of income earners. Using the U.S. Census American Community Survey, a number of factors were found for each state, including average income by quintile, median property tax paid and median home value. State income tax data was sourced from Tax Foundation’s State Income Tax Rates, and using the tax rates, the effective and marginal tax rates can be calculated for single filers and married filers filling jointly. Each state’s property tax rate was calculated using the median home value and median property taxes paid. The effective tax rate for single filers was scored and weighted at 1.00, the married filers filling jointly effective tax rate was scored and weighted at 1.00, the property tax rate was scored and weighted at 1.00. All the scores were summed and sorted to find the best states and the worst states for rich residents. All data was collected on and is up to date as of April 23, 2024.