Economy / Money

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

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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.

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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.

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

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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

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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

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

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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

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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

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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

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

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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

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

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.