NEW JERSEY – People in New Jersey have the 2nd highest incomes, according to a study done by WalletHub.
With the median yearly income in the U.S. around $74,600, the personal-finance website WalletHub Tuesday released its report on the States Where People Have the Highest Income to get a feel for how well-off Americans are across the country.
WalletHub compared the 50 states and the District of Columbia across three key metrics: the average annual income of the top 5%, the average for the bottom 20%, and the median for all of each state’s residents.
Income in New Jersey (1=Best, 25 =Avg.):
- Overall Rank: 2nd
- 4th – Average Annual Income of Top 5% (Adjusted for cost of living index (COLI): $505,621
- 6th – Median Annual Income (Adjusted for COLI): $117,847
- 21st – Average Annual Income of Bottom 20% (Adjusted for COLI): $16,445
Source: WalletHub
Here are the top 5 best states with the highest income:
- Virginia
- New Jersey
- New York
- Connecticut
- Washington
Here are the top 5 worst states with the lowest income:
- West Virginia
- New Mexico
- Mississippi
- Maine
- Vermont
For the full report, click here.
