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.
| Highest Incomes | Lowest Incomes | |
| 1. Virginia | 42. Alaska | |
| 2. New York | 43. Kentucky | |
| 3. New Jersey | 44. Vermont | |
| 4. Washington | 45. Alabama | |
| 5. Connecticut | 46. Rhode Island | |
| 6. Utah | 47. Maine | |
| 7. Colorado | 48. Louisiana | |
| 8. Minnesota | 49. Mississippi | |
| 9. Illinois | 50. New Mexico | |
| 10. Massachusetts | 51. West Virginia |
For the full report and to see where your state ranks, please visit:
https://wallethub.com/edu/
“The highest-earning 10% of individuals in the United States earn over 12 times more than those in the lowest-earning 10%, based on the latest Census data. By measuring the income of various percentiles against a state's median income, we can better identify where income disparities are more prevalent, which could help us better understand why residents of certain states struggle more to make ends meet.”
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“Virginia is the state where people have the highest income, when balancing between the median, top 5% and bottom 20% of earners. The top 5% of earners in the state make an average $545,097 per year, while the bottom 20% make an average of $19,671 – the top 5% ranks as the second-highest in the nation, while the bottom 20% ranks fourth. The median annual income in Virginia is $95,339, which ranks as the 17th-highest in the country, so it seems like many people are skewed to either side of the wealth spectrum.”
- Chip Lupo, WalletHub Analyst
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