Top 15 US States With the Highest Income

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3 hours ago

The median income in the US is about $83,000 — and you could make more or less than that number depending on where you live. But which states are the highest earning overall?

A new WalletHub study used three income-related measures to rank states: the average annual income of the top 5%, the average annual income of the bottom 20%, and the median annual household income of the state’s entire population.

The resulting rankings include some surprises. None of the states known for being home to billionaires, like New York, California, and Florida, took the top spot.

WalletHub analyst Chip Lupo said New York’s income disparity is a reason it came up just short of the No. 1 ranking. While the top 5% makes a lot, the state’s middle class isn’t making nearly as much.

“In terms of just the median annual income, which I think is what most people are interested in as far as that’s a reflection of the middle class, New York is a little above average in terms of its median annual income at $96,000,” Lupo told Business Insider.

One state that barely cracked the top 15 is California; a state known for movie stars and moguls. Lupo posited that the Golden State’s lower ranking on the list may have been impacted by several top earners leaving.

“What’s going on in California also is the number of high-wealth individuals that are fleeing the state,” Lupo said. “A lot of wealth is moving out of the state and into more tax-friendly states like Texas, Florida, and Tennessee. So that’s a huge driver.”

Read on for the 15 states where people have the highest income, according to WalletHub.

15. Florida

The skyline of the Brickell neighborhood in Miami, with illuminated buildings and palm trees under a colorful twilight sky. — Miami.

tifonimages/Getty Images

Total score: 49.89

Average annual income of top 5%: $507,073

Median annual income: $75,737

Average annual income of bottom 20%: $16,378

14. Georgia

Atlanta.

Dan Reynolds Photography/Getty Images

Total score: 52.76

Average annual income of top 5%: $516,260

Median annual income: $72,437

Average annual income of bottom 20%: $17,301

13. California

San Francisco.

Prasit photo/Getty Images

Total score: 53.45

Average annual income of top 5%: $482,584

Median annual income: $133,974

Average annual income of bottom 20%: $14,662

12. District of Columbia

Washington, DC.

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Total score: 54.11

Average annual income of top 5%: $488,074

Median annual income: $174,287

Average annual income of bottom 20%: $9,579

11. Texas

Total score: 54.93

Average annual income of top 5%: $520,378

Median annual income: $75,905

Average annual income of bottom 20%: $17,651

10. Massachusetts

Total score: 57.11

Average annual income of top 5%: $498,062

Median annual income: $137,563

Average annual income of bottom 20%: $14,440

9. Illinois

Total score: 57.88

Average annual income of top 5%: $533,840

Median annual income: $83,277

Average annual income of bottom 20%: $16,813

8. Minnesota

Minneapolis, Minnesota.

joe daniel price/Getty Images

Total score: 58.66

Average annual income of top 5%: $500,074

Median annual income: $90,632

Average annual income of bottom 20%: $20,662

7. Colorado

Denver, Colorado.

Ultima_Gaina/Getty Images

Total score: 59.65

Average annual income of top 5%: $498,587

Median annual income: $106,187

Average annual income of bottom 20%: $19,588

6. Utah

Salt Lake City, Utah.

Vadym Terelyuk/Getty Images

Total score: 61.24

Average annual income of top 5%: $475,515

Median annual income: $98,858

Average annual income of bottom 20%: $24,307

5. Connecticut

Hartford, Connecticut.

Sean Pavone/Getty Images

Total score: 64.73

Average annual income of top 5%: $543,016

Median annual income: $122,032

Average annual income of bottom 20%: $15,095

4. Washington

Total score: 65.23

Average annual income of top 5%: $522,328

Median annual income: $112,933

Average annual income of bottom 20%: $19,082

3. New Jersey

Jersey City, New Jersey.

OlegAlbinsky/Getty Images

Total score: 66.08

Average annual income of top 5%: $527,376

Median annual income: $125,766

Average annual income of bottom 20%: $17,418

2. New York

Total score: 66.27

Average annual income of top 5%: $585,523

Median annual income: $96,746

Average annual income of bottom 20%: $13,633

1. Virginia

Arlington, Virginia.

SeanPavonePhoto/Getty Images

Total score: 67.57

Average annual income of top 5%: $545,097

Median annual income: $95,339

Average annual income of bottom 20%: $19,671