Published: June 20, 2022
While the US may be a superpower, not all the states in the USA are equally rich. So, we are here to look at the richest states and why they are considered so rich.
Read on to find the answers!
What Is The Richest State?
(Source: Veranda / Statista)
Maryland is considered the richest state in the US, with a median household salary of $86,738. On top of this, Maryland is the second state with the highest percentage of millionaires per capita. New Jersey has a 9.76% ratio of millionaire households, while Maryland has 9.72%.
More Stats and Facts On The Richest States In the USA
Now that you know that Maryland is the richest state, let’s find out more about which ones have the highest average income and what else made it to the top ten richest states. We also tell you which states have the lowest incomes in America.
Which state has the highest average income?
(Source: World Population Review)
The District of Columbia is the state with the highest average income, at $88,702. Massachusetts and Connecticut are also in the top three, with the average income at $81,123 and $80,530, respectively.
New Jersey ($76,727), New York ($76,450), California ($72,430), Washington ($69,204), Maryland ($60,067), Alaska ($66,830), and New Hampshire ($66,565) are also among the top ten highest income states.
Why is Maryland so rich?
Maryland is such a rich state because it is close to Washington, D.C., and most of Maryland’s residents work there. On top of this, the National Security Agency and the National Institutes of Health are located in Maryland.
Massachusetts and New Jersey are second and third on the richest states list.
The median household income in Massachusetts is $85,843, while for New Jersey, it’s $85,751. Wrapping up the top ten are Hawaii, California, Connecticut, Washington, New Hampshire, Colorado, and Virginia.
Mark Zuckerberg is the richest man in California.
With almost 3 billion users, Facebook founder Mark Zuckerberg is worth over $97 billion. Indiana’s richest man is Carl Cook, while it’s Warren Buffett in Nebraska.
When we look at the wealthiest Americans by state, Ron Corio wins for New Mexico, Michael Bloomberg wins for New York, and Phil Knight wins for Oregon.
In the richest state in the US, Maryland, Mitchell Rales is the richest man, and he’s worth $6.2 billion.
Mississippi is the state with the lowest household income.
(Source: World Population Review Poorest States)
Unfortunately, not all states can be as rich as Maryland and Massachusetts. Mississippi’s household income of $62,835 makes it number one on the list of states with the lowest income. West Virginia’s $63,680 follows, with Arkansas’s $66,557 in the third spot.
The states that complete the top ten are New Mexico, Alabama, Kentucky, Louisiana, Oklahoma, South Carolina, and Idaho.
Now you know which state in the USA is the richest. The sad reality is that we have low-income states on the other side of the spectrum. However, you may have better opportunities if you decide to move to any of the highest-income states. It won’t hurt to try your luck!