Here’s How Much You Need To Earn To Be ‘Rich’ in Every State

Comedian Chris Rock has an old joke about how bad Bill Gates would feel if he woke up one day with Oprah's money. The point was that "rich" is a subjective term. The same holds true if you make a lot of money in America -- where you live has a lot to do with whether you can think of yourself as truly wealthy.

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To get an idea of what it means to be rich in America, GOBankingRates used IRS data to conduct a study of the top incomes as they break down by state. It lays out what income level is needed to place you in the top 5% and the top 1% of incomes within your state.

Check out how much money you need to be "rich" in your state.

Last updated: Sept. 3, 2021

50. Wyoming

• Average adjusted gross income of the top 5%: $675,561
• The minimum you need to make to be in the top 5%: $194,473
• Average adjusted gross income of the top 1%: $2,245,174
• The minimum you need to make to be in the top 1%: $188,693

Learn More: How Long $1 Million in Savings Will Last in Every State

49. Vermont

• Average adjusted gross income of the top 5%: $406,076
• The minimum you need to make to be in the top 5%: $188,144
• Average adjusted gross income of the top 1%: $1,002,454
• The minimum you need to make to be in the top 1%: $226,489

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48. Alaska

• Average adjusted gross income of the top 5%: $410,354
• The minimum you need to make to be in the top 5%: $210,294
• Average adjusted gross income of the top 1%: $936,890
• The minimum you need to make to be in the top 1%: $238,671

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47. North Dakota

• Average adjusted gross income of the top 5%: $464,179
• The minimum you need to make to be in the top 5%: $203,849
• Average adjusted gross income of the top 1%: $1,173,821
• The minimum you need to make to be in the top 1%: $250,253

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46. South Dakota

• Average adjusted gross income of the top 5%: $494,910
• The minimum you need to make to be in the top 5%: $185,567
• Average adjusted gross income of the top 1%: $1,414,152
• The minimum you need to make to be in the top 1%: $285,414

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45. Delaware

• Average adjusted gross income of the top 5%: $436,983
• The minimum you need to make to be in the top 5%: $202,834
• Average adjusted gross income of the top 1%: $1,095,713
• The minimum you need to make to be in the top 1%: $326,408

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44. Montana

• Average adjusted gross income of the top 5%: $417,789
• The minimum you need to make to be in the top 5%: $179,579
• Average adjusted gross income of the top 1%: $1,078,275
• The minimum you need to make to be in the top 1%: $352,036

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43. Rhode Island

• Average adjusted gross income of the top 5%: $456,877
• The minimum you need to make to be in the top 5%: $201,027
• Average adjusted gross income of the top 1%: $1,187,791
• The minimum you need to make to be in the top 1%: $371,024

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42. Maine

• Average adjusted gross income of the top 5%: $369,120
• The minimum you need to make to be in the top 5%: $177,784
• Average adjusted gross income of the top 1%: $870,414
• The minimum you need to make to be in the top 1%: $461,534

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41. New Hampshire

• Average adjusted gross income of the top 5%: $547,212
• The minimum you need to make to be in the top 5%: $232,884
• Average adjusted gross income of the top 1%: $1,460,801
• The minimum you need to make to be in the top 1%: $486,812

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40. Hawaii

• Average adjusted gross income of the top 5%: $393,244
• The minimum you need to make to be in the top 5%: $194,185
• Average adjusted gross income of the top 1%: $929,822
• The minimum you need to make to be in the top 1%: $486,885

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39. West Virginia

• Average adjusted gross income of the top 5%: $296,752
• The minimum you need to make to be in the top 5%: $156,296
• Average adjusted gross income of the top 1%: $667,368
• The minimum you need to make to be in the top 1%: $536,706

Learn More: Here’s Exactly How Much Savings You Need To Retire In Your State

38. Idaho

• Average adjusted gross income of the top 5%: $429,389
• The minimum you need to make to be in the top 5%: $180,694
• Average adjusted gross income of the top 1%: $1,138,855
• The minimum you need to make to be in the top 1%: $542,846

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37. Nebraska

• Average adjusted gross income of the top 5%: $437,912
• The minimum you need to make to be in the top 5%: $189,432
• Average adjusted gross income of the top 1%: $1,147,617
• The minimum you need to make to be in the top 1%: $618,967

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36. New Mexico

• Average adjusted gross income of the top 5%: $347,186
• The minimum you need to make to be in the top 5%: $169,544
• Average adjusted gross income of the top 1%: $837,388
• The minimum you need to make to be in the top 1%: $652,973

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35. Mississippi

• Average adjusted gross income of the top 5%: $316,218
• The minimum you need to make to be in the top 5%: $154,076
• Average adjusted gross income of the top 1%: $759,755
• The minimum you need to make to be in the top 1%: $856,502

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34. Arkansas

• Average adjusted gross income of the top 5%: $460,231
• The minimum you need to make to be in the top 5%: $167,995
• Average adjusted gross income of the top 1%: $1,378,629
• The minimum you need to make to be in the top 1%: $862,972

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33. Kansas

• Average adjusted gross income of the top 5%: $480,214
• The minimum you need to make to be in the top 5%: $195,014
• Average adjusted gross income of the top 1%: $1,314,656
• The minimum you need to make to be in the top 1%: $916,179

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32. Utah

• Average adjusted gross income of the top 5%: $517,405
• The minimum you need to make to be in the top 5%: $198,875
• Average adjusted gross income of the top 1%: $1,461,523
• The minimum you need to make to be in the top 1%: $929,210

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31. Iowa

• Average adjusted gross income of the top 5%: $399,217
• The minimum you need to make to be in the top 5%: $184,729
• Average adjusted gross income of the top 1%: $998,306
• The minimum you need to make to be in the top 1%: $1,002,590

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30. Nevada

• Average adjusted gross income of the top 5%: $653,809
• The minimum you need to make to be in the top 5%: $187,250
• Average adjusted gross income of the top 1%: $2,184,285
• The minimum you need to make to be in the top 1%: $1,021,773

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29. Oklahoma

• Average adjusted gross income of the top 5%: $423,236
• The minimum you need to make to be in the top 5%: $180,281
• Average adjusted gross income of the top 1%: $1,109,039
• The minimum you need to make to be in the top 1%: $1,141,290

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28. Connecticut

• Average adjusted gross income of the top 5%: $916,467
• The minimum you need to make to be in the top 5%: $284,571
• Average adjusted gross income of the top 1%: $2,840,261
• The minimum you need to make to be in the top 1%: $1,214,099

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27. Kentucky

• Average adjusted gross income of the top 5%: $392,940
• The minimum you need to make to be in the top 5%: $168,243
• Average adjusted gross income of the top 1%: $1,047,733
• The minimum you need to make to be in the top 1%: $1,326,353

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26. Louisiana

• Average adjusted gross income of the top 5%: $421,111
• The minimum you need to make to be in the top 5%: $182,159
• Average adjusted gross income of the top 1%: $1,095,274
• The minimum you need to make to be in the top 1%: $1,373,267

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25. Oregon

• Average adjusted gross income of the top 5%: $469,205
• The minimum you need to make to be in the top 5%: $208,235
• Average adjusted gross income of the top 1%: $1,193,735
• The minimum you need to make to be in the top 1%: $1,375,913

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24. Alabama

• Average adjusted gross income of the top 5%: $391,345
• The minimum you need to make to be in the top 5%: $176,514
• Average adjusted gross income of the top 1%: $999,352
• The minimum you need to make to be in the top 1%: $1,434,586

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23. South Carolina

• Average adjusted gross income of the top 5%: $417,071
• The minimum you need to make to be in the top 5%: $184,484
• Average adjusted gross income of the top 1%: $1,064,627
• The minimum you need to make to be in the top 1%: $1,576,731

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22. Minnesota

• Average adjusted gross income of the top 5%: $529,895
• The minimum you need to make to be in the top 5%: $222,531
• Average adjusted gross income of the top 1%: $1,405,745
• The minimum you need to make to be in the top 1%: $1,909,454

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21. Colorado

• Average adjusted gross income of the top 5%: $601,099
• The minimum you need to make to be in the top 5%: $241,394
• Average adjusted gross income of the top 1%: $1,645,616
• The minimum you need to make to be in the top 1%: $1,921,517

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20. Missouri

• Average adjusted gross income of the top 5%: $457,214
• The minimum you need to make to be in the top 5%: $184,534
• Average adjusted gross income of the top 1%: $1,264,240
• The minimum you need to make to be in the top 1%: $1,939,775

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19. Wisconsin

• Average adjusted gross income of the top 5%: $447,181
• The minimum you need to make to be in the top 5%: $186,922
• Average adjusted gross income of the top 1%: $1,203,326
• The minimum you need to make to be in the top 1%: $1,973,354

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18. Maryland

• Average adjusted gross income of the top 5%: $535,350
• The minimum you need to make to be in the top 5%: $242,113
• Average adjusted gross income of the top 1%: $1,368,091
• The minimum you need to make to be in the top 1%: $2,095,881

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17. Tennessee

• Average adjusted gross income of the top 5%: $478,462
• The minimum you need to make to be in the top 5%: $184,116
• Average adjusted gross income of the top 1%: $1,346,134
• The minimum you need to make to be in the top 1%: $2,120,576

Read: 19 Things You’ll Need To Sacrifice Now for a Healthy Retirement

16. Indiana

• Average adjusted gross income of the top 5%: $396,034
• The minimum you need to make to be in the top 5%: $176,199
• Average adjusted gross income of the top 1%: $1,017,307
• The minimum you need to make to be in the top 1%: $2,162,591

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15. Arizona

• Average adjusted gross income of the top 5%: $474,189
• The minimum you need to make to be in the top 5%: $198,158
• Average adjusted gross income of the top 1%: $1,268,048
• The minimum you need to make to be in the top 1%: $2,176,148

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14. Massachusetts

• Average adjusted gross income of the top 5%: $842,977
• The minimum you need to make to be in the top 5%: $287,128
• Average adjusted gross income of the top 1%: $2,539,953
• The minimum you need to make to be in the top 1%: $2,380,834

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13. Washington

• Average adjusted gross income of the top 5%: $654,926
• The minimum you need to make to be in the top 5%: $258,985
• Average adjusted gross income of the top 1%: $1,801,457
• The minimum you need to make to be in the top 1%: $2,542,112

Read: Why It’s Harder To Save For Retirement Today Than 50 Years Ago

12. Virginia

• Average adjusted gross income of the top 5%: $547,782
• The minimum you need to make to be in the top 5%: $246,917
• Average adjusted gross income of the top 1%: $1,412,355
• The minimum you need to make to be in the top 1%: $2,770,602

See: 10 Signs You’re Not Saving Enough for Retirement

11. New Jersey

• Average adjusted gross income of the top 5%: $694,357
• The minimum you need to make to be in the top 5%: $282,184
• Average adjusted gross income of the top 1%: $1,855,914
• The minimum you need to make to be in the top 1%: $3,055,574

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10. Georgia

• Average adjusted gross income of the top 5%: $510,511
• The minimum you need to make to be in the top 5%: $205,702
• Average adjusted gross income of the top 1%: $1,386,410
• The minimum you need to make to be in the top 1%: $3,180,691

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9. North Carolina

• Average adjusted gross income of the top 5%: $460,030
• The minimum you need to make to be in the top 5%: $199,164
• Average adjusted gross income of the top 1%: $1,188,279
• The minimum you need to make to be in the top 1%: $3,227,607

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8. Michigan

• Average adjusted gross income of the top 5%: $465,295
• The minimum you need to make to be in the top 5%: $190,597
• Average adjusted gross income of the top 1%: $1,281,016
• The minimum you need to make to be in the top 1%: $3,286,929

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7. Ohio

• Average adjusted gross income of the top 5%: $420,927
• The minimum you need to make to be in the top 5%: $180,485
• Average adjusted gross income of the top 1%: $1,100,839
• The minimum you need to make to be in the top 1%: $3,871,661

Read: 10 Simple Habits of Money-Smart Individuals

6. Illinois

• Average adjusted gross income of the top 5%: $631,236
• The minimum you need to make to be in the top 5%: $228,565
• Average adjusted gross income of the top 1%: $1,842,478
• The minimum you need to make to be in the top 1%: $4,196,255

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5. Pennsylvania

• Average adjusted gross income of the top 5%: $509,902
• The minimum you need to make to be in the top 5%: $209,157
• Average adjusted gross income of the top 1%: $1,372,479
• The minimum you need to make to be in the top 1%: $4,296,323

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4. New York

• Average adjusted gross income of the top 5%: $844,193
• The minimum you need to make to be in the top 5%: $242,506
• Average adjusted gross income of the top 1%: $2,739,623
• The minimum you need to make to be in the top 1%: $6,805,717

Read: How To Protect Your Retirement Savings During the Pandemic

3. Florida

• Average adjusted gross income of the top 5%: $682,615
• The minimum you need to make to be in the top 5%: $203,827
• Average adjusted gross income of the top 1%: $2,190,557
• The minimum you need to make to be in the top 1%: $7,140,788

Read: How Much It Cost To Retire in the Year You Were Born

2. Texas

• Average adjusted gross income of the top 5%: $585,405
• The minimum you need to make to be in the top 5%: $216,799
• Average adjusted gross income of the top 1%: $1,681,737
• The minimum you need to make to be in the top 1%: $8,751,910

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1. California

• Average adjusted gross income of the top 5%: $758,257
• The minimum you need to make to be in the top 5%: $266,020
• Average adjusted gross income of the top 1%: $2,238,758
• The minimum you need to make to be in the top 1%: $12,715,259

Learn: How One Man Saved $1 Million in 5 Years

United States

• Average adjusted gross income of the top 5%: $591,187
• The minimum you need to make to be in the top 5%: $219,840
• Average adjusted gross income of the top 1%: $1,697,006
• The minimum you need to make to be in the top 1%: $545,978

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John Csiszar contributed to the reporting for this article. 

Methodology: GOBankingRates analyzed IRS data for the 2018 tax year to find (1) the average adjusted gross income of the top 5% of filers, (2) the adjusted gross income cutoff for the top 5% of filers, (3) the average adjusted gross income of the top 1% of filers, and (4) the adjusted gross income cutoff for the top 1% of filers. All data were collected on and up to date as of Feb. 16, 2021.

About the Author

Andrew Lisa

Andrew Lisa has been writing professionally since 2001. An award-winning writer, Andrew was formerly one of the youngest nationally distributed columnists for the largest newspaper syndicate in the country, the Gannett News Service. He worked as the business section editor for amNewYork, the most widely distributed newspaper in Manhattan, and worked as a copy editor for TheStreet.com, a financial publication in the heart of Wall Street's investment community in New York City.

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