Earning $1,000,000 a year would surely be enough to live comfortably in the vast majority of places. But in one state, it means you've just crossed over into the top 1% of earners.
Your household needs to bring in a whopping $952,902 to crack the top 1% in Connecticut, the highest threshold for any state, according to a recent SmartAsset analysis. That's nearly three times the income needed to be in the 1% in West Virginia, the state with the lowest threshold at $367,582.
Connecticut's median household income of $90,730 is one of the highest in the country and well above the national median of $74,580, according to Census Bureau data.
See how much you'd need to make to be in the top 1% of households in your state:
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Earning $700,000 a year would put your household in the top 1% nationwide — and well above the middle class — and in any state in the South or Midwest. But that still won't cut it in seven states.
The Northeast dominates the rankings, with five of the 10 states with the highest 1% thresholds lying in this region. The average income needed to be in the 1% is $696,358 in these states. That's a higher income than is needed to be in the 1% of households nationwide, which is $652,657, according to SmartAsset.
Money Report
Southern states tend to have lower 1% income thresholds, with an average income of $526,592 necessary to be among the top-earning households there.
The threshold is slightly higher in the Midwest. You need to earn an average of $544,525 to crack the top 1% in those states.
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