Tuesday, 27 February, 2024

The Five US States With the Highest Average Family Income


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The top income brackets in the US are not evenly distributed across the country. For example, Connecticut is the state with the highest threshold – an average family must earn $896,490 per year. The other top five states include New York, Massachusetts, New Jersey, and California. In contrast, the five lowest-income states are found in the south and the west. West Virginia, for example, requires a family of four to earn $350,212 per year to qualify.

The average income in Massachusetts is $109,082 per year, making it the third highest state in the country. In 2018, to be a top 1% earner, you had to earn at least $728,272 in Massachusetts. Massachusetts also has the highest percentage of adults with a bachelor’s degree, making it one of the most educated states in the nation.

Getting into the top income brackets is part of the struggle to earn more money. If you’re lucky enough, you might be able to get in by moving to a different region with more opportunity. The Silicon Valley, for example, is a hotbed of technological innovation, with billions of dollars flowing through the state. In addition, it’s not difficult to get to California, either by bus or plane.

A person’s income is dependent on his or her education, where he or she lives, and where they live. In Jackson, Tennessee, for instance, a household must earn $39,300 per year to qualify. That’s about 19% less than the national average.

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