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.

Find Out: Just How Rich Are Elon Musk, Donald Trump and These Other Big Names?
Be Aware: $1M Is No Longer the Standard Nest Egg – Here’s How Much Most Americans Think You Actually Need To Retire

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

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

Exclusive:  Americans’ Savings Drop to Lowest Point in Years

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

Read: 20 Hobbies of the Rich Only They Can Afford

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

Read: 17 Biggest Budgeting Mistakes You’re Making

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

Helpful: 19 Effective Ways To Tackle Your Budget

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

Related: 17 Dumb Home-Buying Mistakes That Hurt Your Wallet

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

Try: 50 Easy Things You Should Do To Save Money

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

Read: 25 Tips for Saving Money With Your Spouse

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

Read: 20 Hobbies of the Rich Only They Can Afford

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

See: 42 Easy Ways To Save For Retirement

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

Learn: What Is a Savings Bond and How Does It Work?

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

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

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

Find Out: What Social Security Will Look Like in 2035

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

Take a Look: 20 Geeky Collectibles That Could Make You Millions

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

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

Discover: Most Affordable Places To Retire Near You

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

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

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

More From GOBankingRates

• 5 Things Most Americans Don't Know About Social Security
• The Secrets Behind These 10 Popular Costco Products
• Social Security Benefits Might Get Cut Early -- What Does It Mean for You?
• When Social Security Runs Out: What the Program Will Look Like in 2035

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.