Here’s how much you have to earn to be in top one per cent in each state

The one per cent threshold figure stands at $597,815 per family nationwide, but the figure differs from state to state

Jade Bremner
Tuesday 25 January 2022 22:25
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From the famously expensive coasts to the booming south, the threshold for being in the top one per cent of earners varies widely from state to state. A new survey has revealed the top one per cent figures for each one.

Nationwide, the one per cent threshold figure stands at $597,815 per family, but in wealthy Connecticut, a family has to have a combined income of $900,000 in order to be considered in the top one per cent.

West Virginia, on the other side of the spectrum, is below the national one per cent average – residents can be in the upper echelons of earners with a total income of $350,000 as a family.

The figures were calculated through research by financial technology company SmartAsset, using data from the IRS and Bureau of Labor Statistics.

Particular trends in the findings include the fact that living by the sea is something high-earners crave – as the household incomes needed to be in the top one per cent increases in coastal states. The study also found that families in the top one per cent typically earn double those in the top five per cent.

In Massachusetts, New York, New Jersey and California you have to earn more than $700,000 per household to be in the top one per cent of earners.

Whereas in Mississippi, New Mexico, Arkansas and Kentucky you can earn less than $450,000 to be in the top one per cent of earners.

Read on for the top one and five per cent thresholds in each state:

Massachusetts

Top one per cent income: $810,256

Top five per cent income: $314,389

Connecticut

Top one per cent income: $896,490

Top five per cent income: $311,589

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New York

Top one per cent income: $777,126

Top five per cent income: $265,530

New Jersey

Top one per cent income: $760,462

Top five per cent income: $308,976

California

Top one per cent income: $745,314

Top five per cent income: $291,277

Los Angeles

Washington

Top one per cent income: $685,128

Top five per cent income: $283,574

Colorado

Top one per cent income: $632,277

Top five per cent income: $264,313

Illinois

Top one per cent income: $627,329

Top five per cent income: $250,266

Florida

Top one per cent income: $623,736

Top five per cent income: $223,179

Texas

Top one per cent income: $594,313

Top five per cent income: $237,383

Maryland

Top one per cent income: $588,035

Top five per cent income: $265,100

Virginia

Top one per cent income: $584,784

Top five per cent income: $270,360

Wyoming

Top one per cent income: $578,298

Top five per cent income: $212,937

Minnesota

Top one per cent income: $574,780

Top five per cent income: $243,659

New Hampshire

Top one per cent income: $568,731

Top five per cent income: $254,995

Georgia

Top one per cent income: $543,748

Top five per cent income: $225,232

Pennsylvania

Top one per cent income: $541,612

Top five per cent income: $229,015

North Dakota

Top one per cent income: $540,837

Top five per cent income: $223,203

Nevada

Top one per cent income: $540,025

Top five per cent income: $205,028

Utah

Top one per cent income: $528,864

Top five per cent income: $217,757

Oregon

Top one per cent income: $517,607

Top five per cent income: $228,006

North Carolina

Top one per cent income: $506,795

Top five per cent income: $218,073

South Dakota

Top one per cent income: $504,422

Top five per cent income: $203,185

Arizona

Top one per cent income: $503,408

Top five per cent income: $216,972

Kansas

Top one per cent income: $501,009

Top five per cent income: $213,529

Rhode Island

Top one per cent income: $493,748

Top five per cent income: $220,113

Tennessee

Top one per cent income: $492,583

Top five per cent income: $201,597

Alaska

Top one per cent income: $486,671

Top five per cent income: $230,260

Delaware

Top one per cent income: $480,472

Top five per cent income: $222,092

Nebraska

Top one per cent income: $477,312

Top five per cent income: $207,417

Michigan

Top one per cent income: $476,358

Top five per cent income: $208,693

Wisconsin

Top one per cent income: $475,584

Top five per cent income: $204,669

Louisiana

Top one per cent income: $471,506

Top five per cent income: $199,454

Missouri

Top one per cent income: $470,279

Top five per cent income: $202,054

Oklahoma

Top one per cent income: $469,311

Top five per cent income: $197,397

Montana

Top one per cent income: $465,702

Top five per cent income: $196,629

South Carolina

Top one per cent income: $463,976

Top five per cent income: $202,000

Idaho

Top one per cent income: $462,352

Top five per cent income: $197,850

Ohio

Top one per cent income: $460,129

Top five per cent income: $197,621

Hawaii

Top one per cent income: $453,471

Top five per cent income: $212,622

Vermont

Top one per cent income: $451,765

Top five per cent income: $206,007

Iowa

Top one per cent income: $441,223

Top five per cent income: $202,268

Indiana

Top one per cent income: $437,567

Top five per cent income: $192,928

Maine

Top one per cent income: $434,306

Top five per cent income: $194,663

Alabama

Top one per cent income: $432,330

Top 5five per cent income: $193,273

Kentucky

Top one per cent income: $412,836

Top five per cent income: $184,217

Arkansas

Top one per cent income: $411,633

Top five per cent income: $183,945

New Mexico

Top one per cent income: $384,427

Top five per cent income: $185,641

Mississippi

Top one per cent income: $361,462

Top five per cent income: $168,705

West Virginia

Top one per cent income: $350,212

Top five per cent income: $171,135

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