To be in the top 1% of earners in the U.S., Americans need nearly $800,000 in income, but the required amount varies greatly by state.
Washington, D.C. has the highest threshold, where residents must earn about $1.22 million to join the top 1%. Connecticut, Massachusetts, and California follow closely behind with $1.17 million, $1.13 million, and $1.05 million, respectively.
On the other end of the spectrum, West Virginians need to make only around $426,000 to hit the top 1%.
These figures are based on adjusted gross income (AGI) from tax filings in 2021, adjusted to 2024 dollars.
The discrepancy between states is influenced by local economic conditions, such as job opportunities and wealth distribution.
For instance, the average AGI per tax return in California in 2021 was about $112,500, compared to $60,300 in West Virginia.
