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States Where People Have the Highest Income

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The median yearly income in the U.S. is around $74,600, according to the latest data from the Federal Reserve.

, WalletHub Financial Writer

The median yearly income in the U.S. is around $74,600, according to the latest data from the Federal Reserve. However, there is a great deal of income disparity, with some people making vastly more than that while others are unfortunately stuck in poverty.

In order to get a feel for how well-off Americans are across the country, WalletHub compared the 50 states and the District of Columbia across three key metrics: the average annual income of the top 5%, the average for the bottom 20%, and the median for all of each state’s residents.

Income Levels by State

Overall Rank  State Total Score  Average Annual Income of Top 5% (Adjusted for COLI)  Median Annual Income (Adjusted for COLI)  Average Annual Income of Bottom 20% (Adjusted for COLI) 
1 Virginia 69.59 $518,296 $89,393 $18,694
2 New Jersey 68.85 $505,621 $117,847 $16,445
3 New York 67.60 $553,436 $91,366 $13,301
4 Connecticut 67.42 $518,757 $114,156 $14,576
5 Washington 62.29 $474,067 $103,748 $18,223
6 Utah 61.60 $448,195 $89,786 $22,491
7 Illinois 59.64 $504,800 $78,304 $16,192
8 Minnesota 59.48 $464,981 $86,364 $19,797
9 Colorado 57.55 $456,603 $97,301 $18,451
10 Massachusetts 57.39 $466,208 $127,760 $13,689
11 California 54.59 $454,829 $123,988 $13,949
12 Texas 54.05 $481,483 $70,513 $16,802
13 Georgia 53.97 $487,870 $66,612 $16,472
14 Maryland 53.78 $427,135 $124,693 $16,647
15 District of Columbia 52.88 $450,892 $162,265 $9,011
16 Florida 48.63 $470,308 $68,818 $15,375
17 New Hampshire 47.51 $400,343 $110,205 $18,075
18 Pennsylvania 45.29 $445,261 $74,711 $15,801
19 Michigan 45.08 $446,114 $62,446 $17,019
20 Missouri 44.11 $446,069 $59,715 $16,821
21 North Carolina 43.97 $450,592 $63,025 $15,836
22 Tennessee 43.46 $453,539 $59,077 $15,679
23 Arizona 42.32 $424,913 $74,375 $16,604
24 Kansas 41.80 $423,517 $68,489 $17,176
25 Nebraska 41.47 $416,325 $72,384 $17,380
26 Ohio 41.43 $436,922 $61,904 $16,188
27 Delaware 40.97 $402,989 $87,173 $16,930
28 Idaho 40.09 $403,737 $70,041 $18,372
29 Wisconsin 39.59 $402,256 $72,602 $17,973
30 Iowa 36.60 $395,093 $68,974 $17,621
31 South Dakota 35.70 $393,809 $69,266 $17,252
32 Indiana 34.70 $399,270 $64,170 $16,670
33 Nevada 34.52 $401,062 $80,366 $14,472
34 Wyoming 33.87 $387,280 $76,307 $16,199
35 North Dakota 33.70 $387,548 $79,874 $15,661
36 Hawaii 32.60 $334,369 $141,832 $14,014
37 Montana 32.49 $395,720 $68,937 $15,337
38 South Carolina 32.38 $412,771 $62,909 $13,996
39 Oregon 32.20 $377,399 $91,100 $14,720
40 Oklahoma 31.73 $405,113 $57,215 $15,205
41 Arkansas 30.68 $416,224 $51,032 $14,069
42 Kentucky 30.25 $411,897 $55,629 $13,800
43 Alaska 26.83 $321,634 $113,934 $15,646
44 Alabama 26.31 $398,584 $55,480 $13,242
45 Rhode Island 26.14 $353,721 $104,252 $12,668
46 Louisiana 22.52 $395,155 $56,282 $11,504
47 Vermont 22.18 $334,470 $89,695 $14,477
48 Maine 19.64 $338,866 $79,800 $13,749
49 Mississippi 17.81 $377,040 $46,880 $12,168
50 New Mexico 14.59 $351,972 $58,911 $11,944
51 West Virginia 12.79 $345,239 $52,719 $12,477

Methodology
To determine the states where people have the best incomes, WalletHub compared the 50 states and the District of Columbia based on three key metrics measuring income for different segments of the population, adjusted for the cost of living index (COLI). These metrics are listed below, along with their weights.


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