Here's how much you need to earn to be in the top 1% in your state and nationwide (2024)

Have you ever wondered where your income ranks in your state or how to be in the top 1% of annual income?

In the USA, a family must earn an income of $597,815 to be in the top 1% of earners, according to a study by Smart Asset. But the income and rankings vary per state.

In Connecticut, a family needs almost $900,000 to be in the top 1%, while in West Virginia a family needs$350,000.

Smart Asset analyzedincome data from the Internal Revenue Service and Bureau of Labor Statistics. The analysis found coastal stateshave the highest 1% income threshold, andConnecticut holdsthe highest income requirementto earnin the top 1%.

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Here's how the top 1% income varies per state:

Highest top 1% income

1. Connecticut. To earn your spot among the top 1% in the state, you’ll need to make at least $896,490.
2. Massachusetts. These Bay State residents need to earn $810,256 annually.
3. New York. To rank among the top 1%, you must earn$777,126.
4. New Jersey. One-percenters earn$760,462.
5. California. In this state, the top 1% earnabout $745,314 annually.

Lowest top 1% income

1. West Virginia. To make it into the top 1%, you need to earn $350,212.
2. Mississippi. You need to earn $361,462 annually.
3. New Mexico. Residents must make $384,427.
4. Arkansas. To make it into the top 1%, you must earn $411,633.
5. Kentucky. In this state, the top 1% earns $412,836.

Follow Gabriela Miranda on Twitter: @itsgabbymiranda