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

Wealth is relative, but here's what it looks like in your state.

By Andrew Lisa May 12, 2022 Understanding the Economy

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 20% and the top 5% of incomes within your state.

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

Make Your Money Work for You

50. Mississippi

Average adjusted gross income of the top 20%: $96,203
The minimum you need to make to be in the top 20%: $96,204
Average adjusted gross income of the top 20%: $167,054
The minimum you need to make to be in the top 5%: $293,928

49. West Virginia

Average adjusted gross income of the top 20%: $97,032
The minimum you need to make to be in the top 20%: $97,033
Average adjusted gross income of the top 20%: $162,803
The minimum you need to make to be in the top 5%: $278,324

48. Arkansas

Average adjusted gross income of the top 20%: $99,117
The minimum you need to make to be in the top 20%: $99,118
Average adjusted gross income of the top 20%: $178,169
The minimum you need to make to be in the top 5%: $326,819

47. Kentucky

Average adjusted gross income of the top 20%: $104,503
The minimum you need to make to be in the top 20%: $104,504
Average adjusted gross income of the top 20%: $183,977
The minimum you need to make to be in the top 5%: $333,709

46. New Mexico

Average adjusted gross income of the top 20%: $104,611
The minimum you need to make to be in the top 20%: $104, 612
Average adjusted gross income of the top 20%: $177,322
The minimum you need to make to be in the top 5%: $305,354

45. Alabama

Average adjusted gross income of the top 20%: $106,150
The minimum you need to make to be in the top 20%: $106,151
Average adjusted gross income of the top 20%: $182,881
The minimum you need to make to be in the top 5%: $320,543

44. Oklahoma

Average adjusted gross income of the top 20%: $106,215
The minimum you need to make to be in the top 20%: $106,216
Average adjusted gross income of the top 20%: $186,369
The minimum you need to make to be in the top 5%: $335,004

43. Tennessee

Average adjusted gross income of the top 20%: $108,464
The minimum you need to make to be in the top 20%: $108,465
Average adjusted gross income of the top 20%: $197,105
The minimum you need to make to be in the top 5%: $363,868

Make Your Money Work for You

42. Louisiana

Average adjusted gross income of the top 20%: $108,488
The minimum you need to make to be in the top 20%: $108,489
Average adjusted gross income of the top 20%: $194,298
The minimum you need to make to be in the top 5%: $354,460

41. Montana

Average adjusted gross income of the top 20%: $109,060
The minimum you need to make to be in the top 20%: $109,061
Average adjusted gross income of the top 20%: $191,363
The minimum you need to make to be in the top 5%: $343,938

40. South Carolina

Average adjusted gross income of the top 20%: $109,395
The minimum you need to make to be in the top 20%: $109,396
Average adjusted gross income of the top 20%: $194,873
The minimum you need to make to be in the top 5%: $351,194

39. Idaho

Average adjusted gross income of the top 20%: $109,976
The minimum you need to make to be in the top 20%: $109,977
Average adjusted gross income of the top 20%: $186,965
The minimum you need to make to be in the top 5%: $328,467

38. South Dakota

Average adjusted gross income of the top 20%: $110,085
The minimum you need to make to be in the top 20%: $1110,086
Average adjusted gross income of the top 20%: $186,901
The minimum you need to make to be in the top 5%: $330,791

37. Indiana

Average adjusted gross income of the top 20%: $110,334
The minimum you need to make to be in the top 20%: $110,335
Average adjusted gross income of the top 20%: $187,367
The minimum you need to make to be in the top 5%: $328,824

36. Missouri

Average adjusted gross income of the top 20%: $111,488
The minimum you need to make to be in the top 20%: $111,489
Average adjusted gross income of the top 20%: $195,397
The minimum you need to make to be in the top 5%: $349,533

35. North Carolina

Average adjusted gross income of the top 20%: $113,094
The minimum you need to make to be in the top 20%: $113,095
Average adjusted gross income of the top 20%: $203,675
The minimum you need to make to be in the top 5%: $367,303

Make Your Money Work for You

34. Maine

Average adjusted gross income of the top 20%: $113,135
The minimum you need to make to be in the top 20%: $113,136
Average adjusted gross income of the top 20%: $190,047
The minimum you need to make to be in the top 5%: $327,970

33. Ohio

Average adjusted gross income of the top 20%: $113,203
The minimum you need to make to be in the top 20%: $113,204
Average adjusted gross income of the top 20%: $196,676
The minimum you need to make to be in the top 5%: $348,746

32. Iowa

Average adjusted gross income of the top 20%: $114,538
The minimum you need to make to be in the top 20%: $114,539
Average adjusted gross income of the top 20%: $192,132
The minimum you need to make to be in the top 5%: $333,619

31. Florida

Average adjusted gross income of the top 20%: $115,410
The minimum you need to make to be in the top 20%: $115,411
Average adjusted gross income of the top 20%: $217,044
The minimum you need to make to be in the top 5%: $408,096

30. Michigan

Average adjusted gross income of the top 20%: $116,295
The minimum you need to make to be in the top 20%: $116,296
Average adjusted gross income of the top 20%: $202,312
The minimum you need to make to be in the top 5%: $357,366

29. Nebraska

Average adjusted gross income of the top 20%: $116,752
The minimum you need to make to be in the top 20%: $116,753
Average adjusted gross income of the top 20%: $198,337
The minimum you need to make to be in the top 5%: $348,302

28. Kansas

Average adjusted gross income of the top 20%: $116,972
The minimum you need to make to be in the top 20%: $116,973
Average adjusted gross income of the top 20%: $202,842
The minimum you need to make to be in the top 5%: $360,559

27. Wisconsin

Average adjusted gross income of the top 20%: $117,682
The minimum you need to make to be in the top 20%: $117,683
Average adjusted gross income of the top 20%: $199,636
The minimum you need to make to be in the top 5%: $351,983

Make Your Money Work for You

26. Nevada

Average adjusted gross income of the top 20%: $118,028
The minimum you need to make to be in the top 20%: $118,029
Average adjusted gross income of the top 20%: $210,939
The minimum you need to make to be in the top 5%: $386,175

25. Wyoming

Average adjusted gross income of the top 20%: $119,290
The minimum you need to make to be in the top 20%: $119,291
Average adjusted gross income of the top 20%: $198,507
The minimum you need to make to be in the top 5%: $349,123

24. Arizona

Average adjusted gross income of the top 20%: $119,971
The minimum you need to make to be in the top 20%: $119,972
Average adjusted gross income of the top 20%: $212,161
The minimum you need to make to be in the top 5%: $380,865

23. Vermont

Average adjusted gross income of the top 20%: $121,102
The minimum you need to make to be in the top 20%: $121,103
Average adjusted gross income of the top 20%: $202,860
The minimum you need to make to be in the top 5%: $350,210

22. Georgia

Average adjusted gross income of the top 20%: $122,453
The minimum you need to make to be in the top 20%: $122,454
Average adjusted gross income of the top 20%: $220,590
The minimum you need to make to be in the top 5%: $399,216

21. North Dakota

Average adjusted gross income of the top 20%: $122,487
The minimum you need to make to be in the top 20%: $122,488
Average adjusted gross income of the top 20%: $207,695
The minimum you need to make to be in the top 5%: $366,643

20. Pennsylvania

Average adjusted gross income of the top 20%: $119,971
The minimum you need to make to be in the top 20%: $119,972
Average adjusted gross income of the top 20%: $212,161
The minimum you need to make to be in the top 5%: $380,865

19. Oregon

Average adjusted gross income of the top 20%: $126,927
The minimum you need to make to be in the top 20%: $126,928
Average adjusted gross income of the top 20%: $217,779
The minimum you need to make to be in the top 5%: $377,853

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18. Texas

Average adjusted gross income of the top 20%: $128,683
The minimum you need to make to be in the top 20%: $128,684
Average adjusted gross income of the top 20%: $228,655
The minimum you need to make to be in the top 5%: $408,722

17. Utah

Average adjusted gross income of the top 20%: $131,506
The minimum you need to make to be in the top 20%: $131,507
Average adjusted gross income of the top 20%: $221,056
The minimum you need to make to be in the top 5%: $386,951

16. Delaware

Average adjusted gross income of the top 20%: $132,129
The minimum you need to make to be in the top 20%: $132,130
Average adjusted gross income of the top 20%: $227,409
The minimum you need to make to be in the top 5%: $402,529

15. Rhode Island

Average adjusted gross income of the top 20%: $134,294
The minimum you need to make to be in the top 20%: $134,295
Average adjusted gross income of the top 20%: $228,818
The minimum you need to make to be in the top 5%: $404,212

14. Illinois

Average adjusted gross income of the top 20%: $136,273
The minimum you need to make to be in the top 20%: $136,274
Average adjusted gross income of the top 20%: $243,693
The minimum you need to make to be in the top 5%: $439,891

13. Minnesota

Average adjusted gross income of the top 20%: $137,148
The minimum you need to make to be in the top 20%: $137,149
Average adjusted gross income of the top 20%: $235,803
The minimum you need to make to be in the top 5%: $415,214

12. Colorado

Average adjusted gross income of the top 20%: $143,595
The minimum you need to make to be in the top 20%: $143,596
Average adjusted gross income of the top 20%: $249,285
The minimum you need to make to be in the top 5%: $440,444

11. Alaska

Average adjusted gross income of the top 20%: $144,129
The minimum you need to make to be in the top 20%: $144,130
Average adjusted gross income of the top 20%: $228,744
The minimum you need to make to be in the top 5%: $371,359

Make Your Money Work for You

10. New Hampshire

Average adjusted gross income of the top 20%: $146,057
The minimum you need to make to be in the top 20%: $146,058
Average adjusted gross income of the top 20%: $242,876
The minimum you need to make to be in the top 5%: $412,481

9. Washington

Average adjusted gross income of the top 20%: $147,813
The minimum you need to make to be in the top 20%: $147,814
Average adjusted gross income of the top 20%: $256,705
The minimum you need to make to be in the top 5%: $450,974

8. New York

Average adjusted gross income of the top 20%: $149,620
The minimum you need to make to be in the top 20%: $149,621
Average adjusted gross income of the top 20%: $285,154
The minimum you need to make to be in the top 5%: $540,193

7. Virginia

Average adjusted gross income of the top 20%: $152,568
The minimum you need to make to be in the top 20%: $152,569
Average adjusted gross income of the top 20%: $269,655
The minimum you need to make to be in the top 5%: $429,036

6. Hawaii

Average adjusted gross income of the top 20%: $156,110
The minimum you need to make to be in the top 20%: $156,111
Average adjusted gross income of the top 20%: $256,417
The minimum you need to make to be in the top 5%: $429,036

5. California

Average adjusted gross income of the top 20%: $160,999
The minimum you need to make to be in the top 20%: $161,000
Average adjusted gross income of the top 20%: $290,289
The minimum you need to make to be in the top 5%: $519,940

4. Connecticut

Average adjusted gross income of the top 20%: $161,107
The minimum you need to make to be in the top 20%: $161,108
Average adjusted gross income of the top 20%: $305,322
The minimum you need to make to be in the top 5%: $577,072

3. Maryland

Average adjusted gross income of the top 20%: $165,625
The minimum you need to make to be in the top 20%: $165,626
Average adjusted gross income of the top 20%: $278,422
The minimum you need to make to be in the top 5%: $475,373

2. Massachusetts

Average adjusted gross income of the top 20%: $168,870
The minimum you need to make to be in the top 20%: $168,871
Average adjusted gross income of the top 20%: $296,554
The minimum you need to make to be in the top 5%: $522,961

1. New Jersey

Average adjusted gross income of the top 20%: $170,963
The minimum you need to make to be in the top 20%: $170,964
Average adjusted gross income of the top 20%: $301,019
The minimum you need to make to be in the top 5%: $529,601

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John Csiszar contributed to the reporting for this article.

Methodology: For this piece GOBankingRates used the United States Census Bureau’s 2020 American Community Survey income quintile data to find each state’s: (1) lowest income to be considered in the top 20% richest income bracket; (2) the average income of the richest 20% and (3) the average income of the richest 5%. Only factor (1) was considered in final rankings. All data was collected and is up to date as of April 20, 2022.

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.