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Here's how much income it takes to be considered rich in your state

Here's how much income it takes to be considered rich in your state

CBSN
Friday, April 26, 2024 10:35:25 PM UTC

Many Americans aspire to join the ranks of the wealthy, but the income threshold for being considered rich depends a lot on where you live. 

It also takes considerably more income to join the top 5% of earners than just a few years ago, according to new research from GoBankingRates.com, which examined state income data for the five-year period from 2017 to 2022. The latter year represents the most recent household income data from the U.S. Census Bureau. 

The easiest place to reach the top of the heap is West Virginia, where an annual income of $329,620 will qualify you as among its highest earners. But you'll have to earn more than twice that, at $719,253, to join the top 5% in Washington D.C. 

Read full story on CBSN
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