Here's how much money it takes to be in the upper class in each state (2024)

Here's how much money it takes to be in the upper class in each state (1)

  • Here's how much you need to makein each state to be upper class — and what percentage of each state is.
  • The upper class in Washington, DC, starts at $202,000, while in Mississippi, it's $105,400.
  • More than 21% of DC residents are upper class, compared with just 14.4% in Alaska.

Here's how much money it takes to be in the upper class in each state (2)

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Here's how much money it takes to be in the upper class in each state (4)

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This map shows just how much Americans in each state need to make to be considered in the upper class — and what percentage of residents fall into that demographic.

A Business Insider analysis of 2022 US Census Bureau data, the latest year for which data is available, has found that 21.1% of people in Washington, DC, are considered upper class, with household incomes above $202,000. Meanwhile, just 14.4% of Alaskan households are upper class, earning above $176,000.

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That's based on the Pew Research Center's definition of upper class, which is earning at least double a state's median income. This means that states with households with more income dispersion may have more people in the upper class, even with a higher income cutoff.

The Census Bureau notes that the real median household income nationally was $74,580 in 2022, ranging on a state level from $52,700 to $101,000. This means the upper class in one state could still be considered middle class in another.

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Even so, being upper class may not feel like swimming in wealth. For instance, some HENRYs — high earners, not rich yet — previously told BI that even with household incomes clearly landing them in the upper class, they were still worried about retirement, buying a home, having kids, or going on vacations.

DC has the highest cutoff, followed by New Jersey at nearly $192,700 per household. Maryland, Massachusetts, Hawaii, California, and Washington all have cutoffs in the range of $180,000 to $190,000 per household.

When looking at the share of households in the upper class, the top 10 shifts. New York has the second-highest share in the upper class at nearly 21%, even though the cutoff is $159,100. Louisiana, with a cutoff of more than $110,800, was ranked third.

Nearly every state in the bottom 10 for upper-class cutoffs was in the South. To be upper class in Mississippi — which 19.3% of the population is — households must make a bit more than $105,400. West Virginia comes in at $108,650, while Louisiana, Arkansas, Kentucky, Oklahoma, Alabama, and New Mexico are all below $120,000.

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The list of states with the lowest shares of people in the upper class also doesn't correspond. Alaska, Utah, and Idaho have below 15% of their populations in the upper class, while Wyoming and Delaware are in the 15% range.

Do you feel upper class? Did you move to another state where you could feel more financially secure? Tell this reporter why or why not at nsheidlower@businessinsider.com.

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Here's how much money it takes to be in the upper class in each state (2024)

FAQs

Here's how much money it takes to be in the upper class in each state? ›

Here's the list of all 50 U.S. states along with the annual income needed to be in the 1%. California ($844,266), New Jersey ($817,346), and Washington ($804,853) round out the top five states with the highest minimum thresholds to make it to their exclusive rich club.

What it takes to be in the top 1% of every state? ›

Here's the list of all 50 U.S. states along with the annual income needed to be in the 1%. California ($844,266), New Jersey ($817,346), and Washington ($804,853) round out the top five states with the highest minimum thresholds to make it to their exclusive rich club.

How much money is upper middle class in us? ›

Many have graduate degrees with educational attainment serving as the main distinguishing feature of this class. Household incomes commonly exceed $100,000, with some smaller one-income earners household having incomes in the high 5-figure range. "The upper middle class has grown...and its composition has changed.

How much does it cost to be middle class in each state? ›

With New Jersey ranking as the top state to make the most money to be considered middle class, other states ranking in the top five requiring salaries exceeding $50,000 to be in this category include Maryland ($63,321) and Massachusetts ($62,986), Hawaii ($61,633) and California ($61,028).

What is the top 5 income in the US? ›

$335,891

What is a top 1% salary? ›

How much do you need to earn to be in the top 1% income bracket? To be in the top 1% of earners, you're looking at an average annual income of $819,324. The top 0.1% of Americans earn an average of $3,312,693.

What is top 1% net worth by age? ›

Average net worth by top percentile and age
AgeTop 1% net worth
18-24$653,224
25-29$2,121,910
30-34$2,636,882
35-39$4,741,320
3 more rows
Mar 27, 2024

What salary is considered wealthy? ›

Being in the top 20% of earners in California means making at least $171,387 a year. The Golden State, known for its pricey real estate and high cost of living, particularly in cities like San Francisco and Los Angeles, demands a substantial income to be considered wealthy.

Is $150 000 middle class? ›

Based on that number, if you earn between $50,000 and $150,000 a year, you qualify as middle class. Around half of Americans fall into the middle-class category as of 2021, according to the Pew Research Center, but the numbers have been shrinking over time, down from 61% in 1971.

What is considered a wealthy class? ›

Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.

What is the poor class income? ›

Where you rank by income. According to the Census Bureau's Income in the United States: 2022 report, the median household income is $74,580 (a 2.3% decline from 2021), while household income levels for each class level are as follows: Lower class: less than or equal to $30,000. Lower-middle class: $30,001 – $58,020.

What is the salary for upper class in 2024? ›

As of Jun 5, 2024, the average annual pay for the Upper Class jobs category in the United States is $59,699 a year. Just in case you need a simple salary calculator, that works out to be approximately $28.70 an hour. This is the equivalent of $1,148/week or $4,974/month.

What salary range is middle class? ›

As of 2022 (the most recent Census data), the average median household income in the U.S. was $73,914, meaning the national range for the middle class is roughly $49,271 to $147,828. Across the nation's largest cities, the range is between $51,558 and $154,590, according to SmartAsset.

What is the top 1% in the world? ›

In the U.S., it may take you $5.81 million to be in the top 1%, but it takes a minimum net worth of $30 million to be considered among the ultra-high net worth crowd. As of the end of 2023, this ultra-high net worth population is on the rise, reaching 626,000 globally, up from just over 600,000 a year earlier.

What percentage of Americans make over $100000? ›

Over one-third of American families earn $100,000 or more

The U.S. Census Bureau found that 37.1% of U.S. households earned at least $100,000 in 2022. Here's a more detailed breakdown of six-figure income brackets and the percentage of households in each one: $100,000 to $149,999: 16.9% $150,000 to $199,999: 8.7%

Is 200k middle class? ›

The salary you need to be considered middle class in every U.S. state—it's close to $200,000 in 2 of them. In the U.S., whether you're considered middle class or not may depend on where you live. In some states, you can earn over $150,000 and still be considered middle class.

What does it take to be in the top 1? ›

Entering the top 1% of earners requires an average annual income of $819,324. In the highest echelon — the top 0.1% — the average income is $3.3 million.

What makes you a 1 percenter? ›

The average wages of those in the top 1 percent of wage earners were $785,968 that year. In the rarefied top 0.1 percent, the average earnings were more than $2.8 million in 2022.

How much net worth do you need to be in the top 1%? ›

In the U.S., it may take you $5.81 million to be in the top 1%, but it takes a minimum net worth of $30 million to be considered among the ultra-high net worth crowd. As of the end of 2023, this ultra-high net worth population is on the rise, reaching 626,000 globally, up from just over 600,000 a year earlier.

How much to earn to be in top 1 worldwide? ›

The 1% Club
CountriesRegionWealth (USD)
🇺🇸 U.S.N. America$5,813,000
🇸🇬 SingaporeAsia$5,227,000
🇸🇪 SwedenEurope$4,761,000
🇦🇺 AustraliaOceania$4,673,000
13 more rows
Mar 6, 2024

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