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- SmartAsset determined the income needed to be in the top 1% in each US state.
- In 2025, the top 1% comprises about 1.5 million households.
- On average, it takes an annual income of $731,492 to be in the top 1% across states.
Have you ever wondered how much money the 1% makes?
While the ultrawealthy often hold their fortune in a mix of assets, the salary earned by the top 1% is still sizable — but it might vary largely depending on which state you look at.
While earning $416,310 a year puts you in the top 1% of earners in West Virginia, it takes over a million dollars to be in the top 1% in Connecticut.
A recent SmartAsset study calculated the income needed — or the income floor — to be in the top 1% of earners in each US state, using 2022 IRS tax return data for individual tax filers adjusted to May 2025 dollars using the Bureau of Labor Statistics‘ Consumer Price Index.
The study, which was released in July, also calculated the number of 2022 tax returns for each state that would be considered in the top 1% of earners.
Here’s how each US state fared.
Alabama
Alabama has the seventh-lowest income floor for the top 1% when compared to all states.
Income floor for top 1% of earners: $532,600
Number of top 1% returns: 20,185
Alaska
Alaska has the third-smallest number of top 1% earners, with 3,223 tax returns qualifying.
TripWalkers/Shutterstock
Income floor for top 1% of earners: $586,381
Number of top 1% returns: 3,223
Arizona
It takes an annual income of $641,262 to be in the top 1% in Arizona.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $641,262
Number of top 1% returns: 31,872
Arkansas
Arkansas has the fifth-lowest income floor for the top 1% when compared to all states.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $517,761
Number of top 1% returns: 12,198
California
California has the largest number of top 1% earners out of all the states.
Marek Masik/Shutterstock
Income floor for top 1% of earners: $905,396
Number of top 1% returns: 175,045
Colorado
Colorado has the eighth-highest income floor for the top 1%.
Kevin Ruck/Shutterstock
Income floor for top 1% of earners: $772,989
Number of top 1% returns: 27,685
Connecticut
Connecticut is the only state where you need to earn more than $1 million to be in the top 1%.
f11photo/Shutterstock
Income floor for top 1% of earners: $1,056,996
Number of top 1% returns: 16,917
Delaware
It takes an annual income of $578,580 to be in the top 1% in Delaware.
Real Window Creative/Shutterstock
Income floor for top 1% of earners: $578,580
Number of top 1% returns: 4,726
Florida
Florida has the third-largest number of top 1% earners, with 105,101 tax returns qualifying.
Bilanol/Shutterstock
Income floor for top 1% of earners: $859,381
Number of top 1% returns: 105,101
Georgia
It takes an annual income of $662,821 to be in the top 1% in Georgia.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $662,821
Number of top 1% returns: 46,220
Hawaii
It takes an annual income of $561,147 to be in the top 1% in Hawaii.
Ronnie Chua/Shutterstock
Income floor for top 1% of earners: $561,147
Number of top 1% returns: 6,472
Idaho
It takes an annual income of $627,839 to be in the top 1% in Idaho.
Jacob Boomsma/Shutterstock
Income floor for top 1% of earners: $627,839
Number of top 1% returns: 8,145
Illinois
It takes an annual income of $731,202 to be in the top 1% in Illinois.
RomanSlavik.com/Shutterstock
Income floor for top 1% of earners: $731,202
Number of top 1% returns: 56,794
Indiana
Indiana has the sixth-lowest income floor for the top 1% when compared to all states.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $531,332
Number of top 1% returns: 30,120
Iowa
It takes an annual income of $554,046 to be in the top 1% in Iowa.
Mihai_Andritoiu/Shutterstock
Income floor for top 1% of earners: $554,046
Number of top 1% returns: 13,821
Kansas
It takes an annual income of $609,946 to be in the top 1% in Kansas.
Jacob Boomsma/Shutterstock
Income floor for top 1% of earners: $609,946
Number of top 1% returns: 12,643
Kentucky
Kentucky has the fourth-lowest income floor for the top 1%.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $496,281
Number of top 1% returns: 18,395
Louisiana
It takes an annual income of $551,125 to be in the top 1% in Louisiana.
Cavan-Images/Shutterstock
Income floor for top 1% of earners: $551,125
Number of top 1% returns: 18,593
Maine
Maine has the 10th-lowest income floor for the top 1% when compared to all states.
PTAP Aerial/Shutterstock
Income floor for top 1% of earners: $550,936
Number of top 1% returns: 6,618
Maryland
Maryland has the 10th-highest income floor for the top 5%, who earn at least $304,250 a year.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $677,543
Number of top 1% returns: 29,040
Massachusetts
Massachusetts had the second-highest income floor for the top 1%.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $965,170
Number of top 1% returns: 32,795
Michigan
It takes an annual income of $561,582 to be in the top 1% in Michigan.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $561,582
Number of top 1% returns: 45,218
Minnesota
It takes an annual income of $671,408 to be in the top 1% in Minnesota.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $671,408
Number of top 1% returns: 26,423
Mississippi
Mississippi has the second-lowest income floor for the top 1%.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $439,479
Number of top 1% returns: 11,731
Missouri
It takes an annual income of $559,043 to be in the top 1% in Missouri.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $559,043
Number of top 1% returns: 26,898
Montana
It takes an annual income of $656,830 to be in the top 1% in Montana.
trekandshoot/Shutterstock
Income floor for top 1% of earners: $656,830
Number of top 1% returns: 5,101
Nebraska
It takes an annual income of $603,899 to be in the top 1% in Nebraska.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $603,899
Number of top 1% returns: 8,660
Nevada
It takes an annual income of $703,713 to be in the top 1% in Nevada.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $703,713
Number of top 1% returns: 14,754
New Hampshire
New Hampshire has the 8th-highest income floor for the top 5%, who earn at least $311,145.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $735,374
Number of top 1% returns: 6,796
New Jersey
New Jersey has the third-highest income floor for the top 1%.
FotosForTheFuture/Shutterstock
Income floor for top 1% of earners: $901,082
Number of top 1% returns: 43,042
New Mexico
New Mexico has the third-lowest income floor for the top 1%.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $451,639
Number of top 1% returns: 9,310
New York
New York has the fifth-highest income floor for the top 1% when compared to all states.
phototrip2403/Shutterstock
Income floor for top 1% of earners: $891,640
Number of top 1% returns: 91,840
North Carolina
It takes an annual income of $640,783 to be in the top 1% in North Carolina.
Kevin Ruck/Shutterstock
Income floor for top 1% of earners: $640,783
Number of top 1% returns: 46,525
North Dakota
North Dakota has the fourth-smallest number of top 1% earners, with 3,431 tax returns qualifying.
Jacob Boomsma/Shutterstock
Income floor for top 1% of earners: $695,759
Number of top 1% returns: 3,431
Ohio
Ohio has the ninth-lowest income floor for the top 1%.
Rudy Balasko/Shutterstock
Income floor for top 1% of earners: $550,724
Number of top 1% returns: 53,103
Oklahoma
Oklahoma has the eighth-lowest income floor for the top 1%.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $544,679
Number of top 1% returns: 16,106
Oregon
It takes an annual income of $603,006 to be in the top 1% in Oregon.
Jesper A/Shutterstock
Income floor for top 1% of earners: $603,006
Number of top 1% returns: 19,053
Pennsylvania
Pennsylvania has the fifth-largest population of top 1% earners, with 58,541 tax returns qualifying.
photosounds/Shutterstock
Income floor for top 1% of earners: $655,636
Number of top 1% returns: 58,541
Rhode Island
It takes an annual income of $603,162 to be in the top 1% in Rhode Island.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $603,162
Number of top 1% returns: 5,224
South Carolina
It takes an annual income of $580,600 to be in the top 1% in South Carolina.
Ayrton Rojo Arango/Shutterstock
Income floor for top 1% of earners: $580,600
Number of top 1% returns: 23,203
South Dakota
South Dakota has the fifth-smallest number of top 1% earners, with 4,062 tax returns qualifying.
Jacob Boomsma/Shutterstock
Income floor for top 1% of earners: $687,190
Number of top 1% returns: 4,062
Tennessee
It takes an annual income of $638,299 to be in the top 1% in Tennessee.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $638,299
Number of top 1% returns: 30,531
Texas
Texas has the second-largest number of top 1% earners, with 128,130 tax returns qualifying.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $743,955
Number of top 1% returns: 128,130
Utah
It takes an annual income of $690,548 to be in the top 1% in Utah.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $690,548
Number of top 1% returns: 13,991
Vermont
Vermont has the second-smallest number of top 1% earners, with 3,123 tax returns qualifying.
Erika J Mitchell/Shutterstock
Income floor for top 1% of earners: $583,559
Number of top 1% returns: 3,123
Virginia
Virginia has the seventh-highest income floor for the top 5%, who earn at least $314,694.
Kyle J Little/Shutterstock
Income floor for top 1% of earners: $701,792
Number of top 1% returns: 39,103
Washington
Washington has the seventh-highest income floor for the top 1%.
Pavlo Kikot/Shutterstock
Income floor for top 1% of earners: $819,101
Number of top 1% returns: 35,597
West Virginia
West Virginia has the lowest income floor for the top 1%.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $416,310
Number of top 1% returns: 7,316
Wisconsin
It takes an annual income of $566,711 to be in the top 1% in Wisconsin.
Sean Pavone/Shutterstock
Income floor for top 1% of earners: $566,711
Number of top 1% returns: 27,293
Wyoming
Wyoming has the smallest number of top 1% earners, with 2,611 tax returns qualifying.
Jacob Boomsma/Shutterstock
Income floor for top 1% of earners: $771,369
Number of top 1% returns: 2,611