Here’s How Much Money Will Make You Rich in Every State
There’s no denying it: American life is not only expensive, it’s getting pricier with every passing year. The rising tides of cost of living and inflation are making the acquisition of wealth all the more important to ensure financial stability and longevity.
However, an income that makes you rich in a relatively inexpensive state may get you only halfway to wealth in another. That’s why MoneyLion recently launched a study to determine just how much money will make you rich in every state. To do so, MoneyLion sourced the household incomes and upper financial limits in every state.
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MoneyLion learned the income levels needed to be in the top 20% and top 5% of wealth in all 50 states, and then ranked the results from highest to lowest in terms of top 5% financial requirements.
Key Findings
Connecticut requires the most wealth. Cracking the top 5% in the Constitution State requires an average income of nearly $693,000 – that’s more than is needed by any other state in the union.
West Virginia requires just half of Connecticut's income ($346,000) for residents to reach the top 5% income level.
Despite being consistently ranked as the state with the highest cost of living in America, Hawaii is only the eighth-highest state in terms of household income requirements for residents to be defined as “rich.”
Here's how much you need to make to qualify as rich in every state, ranked by average income of the top 5%.
1. Connecticut
The minimum you need to make to be in the top 20%: $195,798
Average income of the top 20%: $370,003
Average income of the top 5%: $692,140
Median household income: $96,049
2. New York
The minimum you need to make to be in the top 20%: $183,128
Average income of the top 20%: $351,650
Average income of the top 5%: $660,664
Median household income: $85,820
3. Massachusetts
The minimum you need to make to be in the top 20%: $211,835
Average income of the top 20%: $368,568
Average income of the top 5%: $640,976
Median household income: $104,828
4. California
The minimum you need to make to be in the top 20%: $203,870
Average income of the top 20%: $362,311
Average income of the top 5%: $632,836
Median household income: $100,149
5. New Jersey
The minimum you need to make to be in the top 20%: $207,697
Average income of the top 20%: $361,445
Average income of the top 5%: $624,759
Median household income: $104,294
6. Washington
The minimum you need to make to be in the top 20%: $195,549
Average income of the top 20%: $348,503
Average income of the top 5%: $613,761
Median household income: $99,389
7. Colorado
The minimum you need to make to be in the top 20%: $187,914
Average income of the top 20%: $325,808
Average income of the top 5%: $572,314
Median household income: $97,113
8. Hawaii
The minimum you need to make to be in the top 20%: $191,329
Average income of the top 20%: $322,263
Average income of the top 5%: $554,337
Median household income: $100,745
9. Maryland
The minimum you need to make to be in the top 20%: $203,754
Average income of the top 20%: $332,112
Average income of the top 5%: $551,040
Median household income: $102,905
10. Virginia
The minimum you need to make to be in the top 20%: $186,315
Average income of the top 20%: $321,091
Average income of the top 5%: $545,772
Median household income: $92,090
11. New Hampshire
The minimum you need to make to be in the top 20%: $185,431
Average income of the top 20%: $310,569
Average income of the top 5%: $526,651
Median household income: $99,782
12. Illinois
The minimum you need to make to be in the top 20%: $166,524
Average income of the top 20%: $296,443
Average income of the top 5%: $526,497
Median household income: $83,211
13. Florida
The minimum you need to make to be in the top 20%: $152,815
Average income of the top 20%: $280,649
Average income of the top 5%: $513,319
Median household income: $77,735
14. Texas
The minimum you need to make to be in the top 20%: $160,370
Average income of the top 20%: $286,707
Average income of the top 5%: $509,433
Median household income: $79,721
15. Alaska
The minimum you need to make to be in the top 20%: $173,347
Average income of the top 20%: $291,368
Average income of the top 5%: $505,472
Median household income: $95,665
16. Nevada
The minimum you need to make to be in the top 20%: $154,972
Average income of the top 20%: $274,355
Average income of the top 5%: $498,078
Median household income: $81,134
17. Arizona
The minimum you need to make to be in the top 20%: $156,723
Average income of the top 20%: $275,969
Average income of the top 5%: $491,192
Median household income: $81,486
18. Minnesota
The minimum you need to make to be in the top 20%: $166,625
Average income of the top 20%: $284,139
Average income of the top 5%: $490,491
Median household income: $87,117
19. Vermont
The minimum you need to make to be in the top 20%: $154,530
Average income of the top 20%: $271,056
Average income of the top 5%: $487,703
Median household income: $82,730
20. Utah
The minimum you need to make to be in the top 20%: $172,511
Average income of the top 20%: $285,518
Average income of the top 5%: $487,185
Median household income: $96,658
21. Pennsylvania
The minimum you need to make to be in the top 20%: $154,496
Average income of the top 20%: $273,195
Average income of the top 5%: $485,453
Median household income: $77,545
22. Georgia
The minimum you need to make to be in the top 20%: $156,990
Average income of the top 20%: $275,780
Average income of the top 5%: $485,391
Median household income: $79,991
23. Delaware
The minimum you need to make to be in the top 20%: $162,553
Average income of the top 20%: $277,672
Average income of the top 5%: $484,587
Median household income: $87,534
24. Rhode Island
The minimum you need to make to be in the top 20%: $169,468
Average income of the top 20%: $287,597
Average income of the top 5%: $479,720
Median household income: $83,504
25. North Carolina
The minimum you need to make to be in the top 20%: $147,599
Average income of the top 20%: $266,462
Average income of the top 5%: $476,994
Median household income: $73,958
26. Tennessee
The minimum you need to make to be in the top 20%: $140,387
Average income of the top 20%: $254,695
Average income of the top 5%: $466,114
Median household income: $71,997
27. Oregon
The minimum you need to make to be in the top 20%: $161,201
Average income of the top 20%: $271,007
Average income of the top 5%: $462,142
Median household income: $85,220
28. Wyoming
The minimum you need to make to be in the top 20%: $144,915
Average income of the top 20%: $250,919
Average income of the top 5%: $461,848
Median household income: $75,532
29. North Dakota
The minimum you need to make to be in the top 20%: $144,640
Average income of the top 20%: $255,287
Average income of the top 5%: $459,933
Median household income: $77,871
30. Montana
The minimum you need to make to be in the top 20%: $142,504
Average income of the top 20%: $251,910
Average income of the top 5%: $458,810
Median household income: $75,340
31. Kansas
The minimum you need to make to be in the top 20%: $145,444
Average income of the top 20%: $252,211
Average income of the top 5%: $446,918
Median household income: $75,514
32. Michigan
The minimum you need to make to be in the top 20%: $141,650
Average income of the top 20%: $247,459
Average income of the top 5%: $440,173
Median household income: $72,389
33. Maine
The minimum you need to make to be in the top 20%: $149,013
Average income of the top 20%: $252,850
Average income of the top 5%: $439,986
Median household income: $76,442
34. Idaho
The minimum you need to make to be in the top 20%: $144,630
Average income of the top 20%: $247,052
Average income of the top 5%: $433,141
Median household income: $81,166
35. South Dakota
The minimum you need to make to be in the top 20%: $140,442
Average income of the top 20%: $241,833
Average income of the top 5%: $431,202
Median household income: $76,881
36. Missouri
The minimum you need to make to be in the top 20%: $139,067
Average income of the top 20%: $241,970
Average income of the top 5%: $424,120
Median household income: $71,589
37. South Carolina
The minimum you need to make to be in the top 20%: $142,452
Average income of the top 20%: $244,213
Average income of the top 5%: $424,042
Median household income: $72,350
38. Ohio
The minimum you need to make to be in the top 20%: $141,437
Average income of the top 20%: $242,410
Average income of the top 5%: $423,457
Median household income: $72,212
39. Nebraska
The minimum you need to make to be in the top 20%: $144,136
Average income of the top 20%: $241,818
Average income of the top 5%: $422,020
Median household income: $76,376
40. Wisconsin
The minimum you need to make to be in the top 20%: $143,991
Average income of the top 20%: $242,227
Average income of the top 5%: $417,893
Median household income: $77,488
41. Oklahoma
The minimum you need to make to be in the top 20%: $128,877
Average income of the top 20%: $226,486
Average income of the top 5%: $407,557
Median household income: $66,148
42. Indiana
The minimum you need to make to be in the top 20%: $137,197
Average income of the top 20%: $234,070
Average income of the top 5%: $406,352
Median household income: $71,959
43. Alabama
The minimum you need to make to be in the top 20%: $132,641
Average income of the top 20%: $229,344
Average income of the top 5%: $397,207
Median household income: $66,659
44. Louisiana
The minimum you need to make to be in the top 20%: $129,469
Average income of the top 20%: $224,960
Average income of the top 5%: $391,326
Median household income: $60,986
45. Iowa
The minimum you need to make to be in the top 20%: $138,132
Average income of the top 20%: $228,760
Average income of the top 5%: $388,530
Median household income: $75,501
46. New Mexico
The minimum you need to make to be in the top 20%: $135,881
Average income of the top 20%: $230,629
Average income of the top 5%: $387,689
Median household income: $67,816
47. Arkansas
The minimum you need to make to be in the top 20%: $123,186
Average income of the top 20%: $215,812
Average income of the top 5%: $385,591
Median household income: $62,106
48. Kentucky
The minimum you need to make to be in the top 20%: $128,573
Average income of the top 20%: $220,123
Average income of the top 5%: $380,654
Median household income: $64,526
49. Mississippi
The minimum you need to make to be in the top 20%: $120,032
Average income of the top 20%: $203,678
Average income of the top 5%: $351,488
Median household income: $59,127
50. West Virginia
The minimum you need to make to be in the top 20%: $120,082
Average income of the top 20%: $201,400
Average income of the top 5%: $345,740
Median household income: $60,798
Methodology: Using the U.S. Census 2024 1-year American Community Survey, a MoneyLion sourced median household income, upper limit for the fifth income quintile, upper limit for the top 5%, average income for the fifths income quintile, and average income for the top 5%. The states were sorted to show the highest income needed to be considered rich within each state. All data is up to date as of Jan. 20, 2026.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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