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(NEXSTAR) — It might seem like a lot to be in the top 1% of earners in the U.S. That’s mostly true, given that less than 10% of all American households earn more than $200,000, a report shows. are provided by the Census Bureau. But new analysis suggests it may be easier to break into the top tier of earners than others.

After examining available tax data from the IRS and adjusting it to the Labor Department’s Consumer Price Index, SmartAsset calculated how much you’d need to earn to be among the top earners in each state.

In general, SmartAsset found that the income threshold ranges from about $375,000 to just over $955,000. In states stretching from the Southern Plains to the Gulf region and east along the Rust Belt, the income thresholds for being in the top 1% were relatively lower than the thresholds for coastal and New England states.

Connecticut has the highest threshold in the US at approximately $955,000. It was the only state with a minimum threshold above $900,000, with the next closest state being Massachusetts at roughly $897,000.

The states with the highest income threshold are:

  1. Connecticut: $955,300
  2. Massachusetts: $896,900
  3. New Jersey: $825,965
  4. New York: $817,796
  5. California: $805,519

The state with the lowest threshold, according to SmartAsset’s findings, was West Virginia, where you need to earn about $374,700 to be in the top 1%. West Virginia was followed by Mississippi at $383,100.

The states with the lowest income threshold are:

  1. West Virginia: $374,712
  2. Mississippi: $383,128
  3. New Mexico: $418,970
  4. Arkansas: $446,276
  5. Kentucky: $447,300

If landing in the top 1% of residents in your state seems like a stretch, SmartAsset also found out how much money you’d need to earn to land in the top 5% in each state.

While Connecticut has the highest threshold for landing in the top 1%, it has the third highest threshold for being in the top 5% at nearly $337,000. Massachusetts has the highest figure at $349,700. At the bottom, Mississippi had the lowest threshold to be in the top 5% at $181,100.

You can view the full study results here.

For some perspective, according to the Federal Reserve, the median net worth of American households—everything you own, minus the debt you owe—was $748,800 in 2019. But the average rises with a smaller number of very wealthy people toward the top of the spectrum. The median net worth, which gives a more accurate picture of the typical American family, is much lower at $121,700.

Federal data show that the average American family earns a median income of approximately $70,000.

Alix Martishu contributed to this report.



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