How the Definition of Rich Has Changed on the East Coast

“Rich” can be a rather variable term in America. What is considered wealthy in Missouri might not be considered wealthy in Washington, just as what is considered wealthy in Washington might not be considered wealthy in an expensive state like New York. Even further, what was considered wealth in a single state a decade ago might not be all that impressive now.

GOBankingRates recently compiled a study concerning all 50 states in America, charting the income levels of every state from 2013 to 2023, and tracing the arc of change from the top 5% of income levels over the course of 10 years.

In terms of the East coast, South Carolina saw the biggest growth in wealth of any state, with the average income of the top 5% of the state making a leaping upward 66%. Meanwhile, Connecticut and Maryland saw the lowest amount of growth on the East coast at just 42%.

Check out how the definition of rich has changed among the East Coast states.

• 10-Year Change (%) in Average Income of Top 5%: 66.1%
• 2023 Average Income of Top 5%: $428,094
• 2013 Average Income of Top 5%: $257,674

• 10-Year Change (%) in Average Income of Top 5%: 63.1%
• 2023 Average Income of Top 5%: $418,624
• 2013 Average Income of Top 5%: $256,683

• 10-Year Change (%) in Average Income of Top 5%: 58.9%
• 2023 Average Income of Top 5%: $642,510
• 2013 Average Income of Top 5%: $404,254

• 10-Year Change (%) in Average Income of Top 5%: 59.7%
• 2023 Average Income of Top 5%: $499,610
• 2013 Average Income of Top 5%: $312,755

• 10-Year Change (%) in Average Income of Top 5%: 55.0%
• 2023 Average Income of Top 5%: $434,633
• 2013 Average Income of Top 5%: $280,425

• 10-Year Change (%) in Average Income of Top 5%: 55.1%
• 2023 Average Income of Top 5%: $507,282
• 2013 Average Income of Top 5%: $327,022

• 10-Year Change (%) in Average Income of Top 5%: 58.8%
• 2023 Average Income of Top 5%: $446,248
• 2013 Average Income of Top 5%: $281,017

• 10-Year Change (%) in Average Income of Top 5%: 53.6%
• 2023 Average Income of Top 5%: $473,542
• 2013 Average Income of Top 5%: $308,229

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• 10-Year Change (%) in Average Income of Top 5%: 58.7%
• 2023 Average Income of Top 5%: $472,175
• 2013 Average Income of Top 5%: $297,585

• 10-Year Change (%) in Average Income of Top 5%: 49.9%
• 2023 Average Income of Top 5%: $547,015
• 2013 Average Income of Top 5%: $365,009

• 10-Year Change (%) in Average Income of Top 5%: 54.7%
• 2023 Average Income of Top 5%: $646,648
• 2013 Average Income of Top 5%: $417,943

• 10-Year Change (%) in Average Income of Top 5%: 48.3%
• 2023 Average Income of Top 5%: $632,685
• 2013 Average Income of Top 5%: $426,720

• 10-Year Change (%) in Average Income of Top 5%: 48.1%
• 2023 Average Income of Top 5%: $477,607
• 2013 Average Income of Top 5%: $322,386

• 10-Year Change (%) in Average Income of Top 5%: 48.0%
• 2023 Average Income of Top 5%: $463,843
• 2013 Average Income of Top 5%: $313,317

• 10-Year Change (%) in Average Income of Top 5%: 42.4%
• 2023 Average Income of Top 5%: $554,828
• 2013 Average Income of Top 5%: $389,632

• 10-Year Change (%) in Average Income of Top 5%: 42.4%
• 2023 Average Income of Top 5%: $676,016
• 2013 Average Income of Top 5%: $474,689