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.View Gallery
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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.
Find Out: The Best Hidden Gem Destinations in Every State
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: March 15, 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
Check Out: Best Places To Live On a $50,000 Salary in Every State
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
Important: Almost Every State Is In Debt Thanks to COVID-19 — What Now?
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
Read Next: The Richest Celebrity From Every State
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
Time To Move? The Richest Small Town in Every State
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
Learn More: Surprising Ways Gen Z and Millennials Are Worlds Apart Financially
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
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
Whoa: 9 Successful Money-Making ‘Schemes’ That Are Actually Legal
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
Rich vs. Wealthy: What’s the Difference Between the Two?
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
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
Find Out: 31 Dumb Things That Are Keeping You From Being Wealthy
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
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
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
Check Out: Best Cities To Retire on a Budget of $1,500 a Month
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
Read: Tips To Keep Your Finances in Order Without Sacrificing What You Want
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
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
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
Stop Now: 50 Terrible Ways To Try and Save Money
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
Find Out: Things To Cut Out Right Now To Save Money During the Health Crisis
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
Options: 16 Ways To Save Money on Food
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
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
Helpful: 16 Effective Ways To Trick Yourself Into Saving Money
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
Good To Know: 16 Splurges That Save You Money in the Long Run
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
Keep Reading: 25 Ways To Save 20% More of Your Paycheck Without Even Trying
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
Try: Cutting Out These 25 Expenses Will Save You $16,142.08 a Year
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
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
See: Do You Think the Minimum Wage Should Be $15? Take Our Poll
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
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
Take Action: Do These 13 Things To Boost Your Retirement Savings Now
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
Are High-Yield Savings Accounts Worth It? Here’s Everything You Need To Know
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
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
Avoid: 35 Retirement Planning Mistakes That Waste Your Money
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
Check Out: Here’s How To Retire Early and Quit the Daily Grind
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
Start Cutting Costs: How To Save Money on All Your Monthly Expenses and Bills
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
More Tips: 20 Ways To Save Money Fast
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
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
Watch Out: 15 Retirement Mistakes and Why They’ll Shrink Your Nest Egg
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
Read More: Is Now a Good Time To Raid Your 401(k)?
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
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
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
Take a Look: These Once-Hot Housing Markets Are Cooling Off
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
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
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
Check Out: 100 Ways To Make Your Money Last Until You’re 100
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
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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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.
Find Out: The Best Hidden Gem Destinations in Every State
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: March 15, 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
Check Out: Best Places To Live On a $50,000 Salary in Every State
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
Important: Almost Every State Is In Debt Thanks to COVID-19 — What Now?
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
Read Next: The Richest Celebrity From Every State
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
Time To Move? The Richest Small Town in Every State
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
Learn More: Surprising Ways Gen Z and Millennials Are Worlds Apart Financially
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
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
Whoa: 9 Successful Money-Making ‘Schemes’ That Are Actually Legal
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
Rich vs. Wealthy: What’s the Difference Between the Two?
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
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
Find Out: 31 Dumb Things That Are Keeping You From Being Wealthy
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
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
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
Check Out: Best Cities To Retire on a Budget of $1,500 a Month
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
Read: Tips To Keep Your Finances in Order Without Sacrificing What You Want
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
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
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
Stop Now: 50 Terrible Ways To Try and Save Money
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
Find Out: Things To Cut Out Right Now To Save Money During the Health Crisis
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
Options: 16 Ways To Save Money on Food
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
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
Helpful: 16 Effective Ways To Trick Yourself Into Saving Money
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
Good To Know: 16 Splurges That Save You Money in the Long Run
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
Keep Reading: 25 Ways To Save 20% More of Your Paycheck Without Even Trying
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
Try: Cutting Out These 25 Expenses Will Save You $16,142.08 a Year
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
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
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
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
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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
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
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
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
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
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
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.