Anchiy / iStock.com How much money would your household need to make to be in the top 5% of the highest-earning households in your state?
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To determine the answer to this question, GOBankingRates reviewed figures in the 2022 American Community Survey as conducted by the US Census Bureau. Factors identified in each state include their median household income, the amount necessary to earn to make up the top 5% of income, the difference between median incomes and the top 5% and the percentage that the top % of earners make which is more than the median income.
Ranked in alphabetical order, see how much you would need to boost your household income to be in the top 5% of high earners .
DenisTangneyJr / iStock.com Alabama Median household income: $59,609 Top 5% of income: $370,977 Difference between top 5% and median income: $311,368 Percentage top 5% of earners make more than median income: 522.35%
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Jacob Boomsma / Getty Images/iStockphoto Alaska Median household income: $86,370 Top 5% of income: $424,278 Difference between top 5% and median income: $337,908 Percentage top 5% of earners make more than median income: 391.23%
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dszc / Getty Images Arizona Median household income: $72,581 Top 5% of income: $435,414 Difference between top 5% and median income: $362,833 Percentage top 5% of earners make more than median income: 499.90% Michael Warren / Getty Images/iStockphoto
Arkansas Median household income: $56,335 Top 5% of income: $377,043 Difference between top 5% and median income: $320,708 Percentage top 5% of earners make more than median income: 569.29% DenisTangneyJr / Getty Images/iStockphoto California Median household income: $91,905 Top 5% of income: $613,602 Difference between top 5% and median income: $521,697 Percentage top 5% of earners make more than median income: 567.65%
Muhammad Zulkifal / Getty Images/iStockphoto Colorado Median household income: $87,598 Top 5% of income: $507,181 Difference between top 5% and median income: $419,583 Percentage top 5% of earners make more than median income: 478.99% Read Next: 11 Expensive Vacation Destinations That Will Be Cheaper in 2024
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Connecticut Median household income: $90,213 Top 5% of income: $656,438 Difference between top 5% and median income: $566,225 Percentage top 5% of earners make more than median income: 627.65% BrianEKushner / Getty Images/iStockphoto Delaware Median household income: $79,325 Top 5% of income: $442,860 Difference between top 5% and median income: $363,535 Percentage top 5% of earners make more than median income: 458.29% Tanarch / Getty Images/iStockphoto District of Columbia (DC) Median household income: $101,722 Top 5% of income: $719,253 Difference between top 5% and median income: $617,531 Percentage top 5% of earners make more than median income: 607.08% Sean Pavone / Getty Images/iStockphoto Florida Median household income: $67,917 Top 5% of income: $476,546 Difference between top 5% and median income: $408,629 Percentage top 5% of earners make more than median income: 601.66% Check Out: Dave Ramsey: 7 Vacation Splurges That Are a Waste of Money
RobHainer / Getty Images/iStockphoto Georgia Median household income: $71,355 Top 5% of income: $455,439 Difference between top 5% and median income: $384,084 Percentage top 5% of earners make more than median income: 538.27% Art Wager / Getty Images Hawaii Median household income: $94,814 Top 5% of income: $500,183 Difference between top 5% and median income: $405,369 Percentage top 5% of earners make more than median income: 427.54% Jennifer_Sharp / Getty Images/iStockphoto Idaho Median household income: $70,214 Top 5% of income: $402,743 Difference between top 5% and median income: $332,529 Percentage top 5% of earners make more than median income: 473.59% Pgiam / Getty Images Illinois Median household income: $78,433 Top 5% of income: $78,433 Difference between top 5% and median income: $425,537 Percentage top 5% of earners make more than median income: 542.55% For You: 10 Best US Vacation Destinations for Retirees on a Budget
Ultima_Gaina / Getty Images/iStockphoto Indiana Median household income: $67,173 Top 5% of income: $381,422 Difference between top 5% and median income: $314,249 Percentage top 5% of earners make more than median income: 467.82% Aaron Yoder / Getty Images/iStockphoto Iowa Median household income: $70,571 Top 5% of income: $386,152 Difference between top 5% and median income: $315,581 Percentage top 5% of earners make more than median income: 447.18% DenisTangneyJr / iStock.com Kansas Median household income: $69,747 Top 5% of income: $415,875 Difference between top 5% and median income: $346,128 Percentage top 5% of earners make more than median income: 496.26% hstiver / Getty Images/iStockphoto Kentucky Median household income: $60,183 Top 5% of income: $380,726 Difference between top 5% and median income: $320,543 Percentage top 5% of earners make more than median income: 532.61% Trending Now: ChatGPT Unveils: 5 Worst Cities to Buy a House in 2024
Larry Gibson / Getty Images/iStockphoto Louisiana Median household income: $57,852 Top 5% of income: $384,432 Difference between top 5% and median income: $326,580 Percentage top 5% of earners make more than median income: 564.51% DenisTangneyJr / Getty Images/iStockphoto Maine Median household income: $68,251 Top 5% of income: $396,205 Difference between top 5% and median income: $327,954 Percentage top 5% of earners make more than median income: 480.51% DenisTangneyJr / Getty Images/iStockphoto Maryland Median household income: $98,461 Top 5% of income: $540,934 Difference between top 5% and median income: $442,473 Percentage top 5% of earners make more than median income: 449.39% DenisTangneyJr / Getty Images/iStockphoto Massachusetts Median household income: $96,505 Top 5% of income: $617,199 Difference between top 5% and median income: $520,694 Percentage top 5% of earners make more than median income: 539.55% Be Aware: Barbara Corcoran Says, ‘Forget About Florida,’ Move Here for Cheap Homes
benkrut / iStock.com Michigan Median household income: $68,505 Top 5% of income: $406,657 Difference between top 5% and median income: $338,152 Percentage top 5% of earners make more than median income: 493.62% culbertson / Getty Images/iStockphoto Minnesota Median household income: $84,313 Top 5% of income: $476,290 Difference between top 5% and median income: $391,977 Percentage top 5% of earners make more than median income: 464.91% DenisTangneyJr / iStock.com Mississippi Median household income: $52,985 Top 5% of income: $333,597 Difference between top 5% and median income: $280,612 Percentage top 5% of earners make more than median income: 529.61% amolson7 / Getty Images/iStockphoto Missouri Median household income: $65,920 Top 5% of income: $404,080 Difference between top 5% and median income: $338,160 Percentage top 5% of earners make more than median income: 512.99% Explore More: In Less Than a Decade, You Won’t Be Able To Afford Homes in These ZIP Codes
leezsnow / Getty Images/iStockphoto Montana Median household income: $66,341 Top 5% of income: $411,205 Difference between top 5% and median income: $344,864 Percentage top 5% of earners make more than median income: 519.84% MidwestWilderness / Getty Images/iStockphoto Nebraska Median household income: $71,722 Top 5% of income: $420,169 Difference between top 5% and median income: $348,447 Percentage top 5% of earners make more than median income: 485.83% DenisTangneyJr / Getty Images Nevada Median household income: $71,646 Top 5% of income: $449,872 Difference between top 5% and median income: $378,226 Percentage top 5% of earners make more than median income: 527.91% Pierre-Olivier Valiquette / Getty Images/iStockphoto New Hampshire Median household income: $90,845 Top 5% of income: $485,660 Difference between top 5% and median income: $394,815 Percentage top 5% of earners make more than median income: 434.60% For You: I’m a Real Estate Agent: These 5 Cities Are Becoming Unaffordable
DenisTangneyJr / Getty Images New Jersey Median household income: $97,126 Top 5% of income: $613,494 Difference between top 5% and median income: $516,368 Percentage top 5% of earners make more than median income: 531.65% Sean Pavone / Getty Images/iStockphoto New Mexico Median household income: $58,722 Top 5% of income: $353,104 Difference between top 5% and median income: $294,382 Percentage top 5% of earners make more than median income: 501.31% OlegAlbinsky / Getty Images/iStockphoto New York Median household income: $81,386 Top 5% of income: $621,301 Difference between top 5% and median income: $539,915 Percentage top 5% of earners make more than median income: 663.40% Kruck20 / Getty Images/iStockphoto North Carolina Median household income: $66,186 Top 5% of income: $429,071 Difference between top 5% and median income: $362,885 Percentage top 5% of earners make more than median income: 548.28% Trending Now: 5 Types of Homes That Will Plummet in Value in 2024
DenisTangneyJr / Getty Images North Dakota Median household income: $73,959 Top 5% of income: $418,541 Difference between top 5% and median income: $344,582 Percentage top 5% of earners make more than median income: 465.91% Sean Pavone / Getty Images/iStockphoto Ohio Median household income: $66,990 Top 5% of income: $403,750 Difference between top 5% and median income: $336,760 Percentage top 5% of earners make more than median income: 502.70% JTSorrell / Getty Images Oklahoma Median household income: $61,364 Top 5% of income: $377,724 Difference between top 5% and median income: $316,360 Percentage top 5% of earners make more than median income: 515.55% Strekoza2 / Getty Images Oregon Median household income: $76,632 Top 5% of income: $448,649 Difference between top 5% and median income: $372,017 Percentage top 5% of earners make more than median income: 485.46% Discover More: 8 Places Where Houses Are Suddenly Major Bargains
Sean Pavone / Getty Images/iStockphoto Pennsylvania Median household income: $73,170 Top 5% of income: $454,639 Difference between top 5% and median income: $381,469 Percentage top 5% of earners make more than median income: 521.35% DenisTangneyJr / Getty Images/iStockphoto Rhode Island Median household income: $81,370 Top 5% of income: $453,192 Difference between top 5% and median income: $371,822 Percentage top 5% of earners make more than median income: 456.95% Kruck20 / Getty Images/iStockphoto South Carolina Median household income: $63,623 Top 5% of income: $408,138 Difference between top 5% and median income: $344,515 Percentage top 5% of earners make more than median income: 541.49% DenisTangneyJr / Getty Images South Dakota Median household income: $69,457 Top 5% of income: $392,724 Difference between top 5% and median income: $323,267 Percentage top 5% of earners make more than median income: 465.42% Trending Now: 7 Florida Cities That Could Be Headed for a Housing Crisis
Sean Pavone / iStock.com Tennessee Median household income: $64,035 Top 5% of income: $418,421 Difference between top 5% and median income: $354,386 Percentage top 5% of earners make more than median income: 553.43% Sean Pavone / Getty Images/iStockphoto Texas Median household income: $73,035 Top 5% of income: $464,859 Difference between top 5% and median income: $391,824 Percentage top 5% of earners make more than median income: 536.49% DenisTangneyJr / iStock.com Utah Median household income: $86,833 Top 5% of income: $463,437 Difference between top 5% and median income: $376,604 Percentage top 5% of earners make more than median income: 433.71% SeanPavonePhoto / Getty Images/iStockphoto Vermont Median household income: $74,014 Top 5% of income: $405,333 Difference between top 5% and median income: $331,319 Percentage top 5% of earners make more than median income: 447.64% Find Out: Housing Market 2024: Home Prices Are Plummeting in 10 Formerly Overpriced Housing Markets
DenisTangneyJr / Getty Images/iStockphoto Virginia Median household income: $87,249 Top 5% of income: $531,035 Difference between top 5% and median income: $443,786 Percentage top 5% of earners make more than median income: 508.64% ChrisBoswell / Getty Images/iStockphoto Washington Median household income: $90,325 Top 5% of income: $544,518 Difference between top 5% and median income: $454,193 Percentage top 5% of earners make more than median income: 502.84% DavidByronKeener / Getty Images/iStockphoto West Virginia Median household income: $55,217 Top 5% of income: $329,620 Difference between top 5% and median income: $274,403 Percentage top 5% of earners make more than median income: 496.95% DenisTangneyJr / Getty Images Wisconsin Median household income: $72,458 Top 5% of income: $403,055 Difference between top 5% and median income: $330,597 Percentage top 5% of earners make more than median income: 456.26% For You: 7 Ways People Destroy the Value of Their Homes, According to a Real Estate Agent
DenisTangneyJr / Getty Images Wyoming Median household income: $72,495 Top 5% of income: $407,646 Difference between top 5% and median income: $335,151 Percentage top 5% of earners make more than median income: 462.31% Methodology: These figures are all found in the 2022 American Community Survey as conducted by the US Census Bureau. All data is up to date as of April 10, 2024.
This article originally appeared on GOBankingRates.com : How To Boost Your Income from the Median Household Income to the Top 5% in Your State
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