There are different ways to measure a country’s wealth. For example, the World Bank ranks the United States first in total gross domestic product but 13th in per capita GDP, below such other wealthy countries as Switzerland, Ireland, and the United Arab Emirates.
Nevertheless, the U.S. is undeniably an immensely rich country. It tops the list for the number of both high-net-worth individuals, generally defined as those whose financial assets exceed $1 million in value (5.9 million of them, according to global consultant Capgemini) and billionaires (724). (Here’s how much you need to make to be in the top 1% in every state.)
At the same time, the U.S. continues to suffer from the worst income inequality of any rich capitalist democracy. A 2017 analysis by the Federal Reserve Bank of St. Louis shows income inequality in America to be “very close to the average” of that in the African countries that were included in the study, and far below its peers with similar per-capita incomes, like Sweden.
Click here to see the share of income earned by the richest 5% in every state.
To identify the states where the richest 5% earn half the income, 24/7 Wall St reviewed the aggregate share of income by quintile from the U.S. Census Bureau’s American Community Survey for 2019. Also from the ACS, we reviewed poverty rates, median household income, and the Gini coefficients for 2019. The Gini coefficient (or index) is a statistical measure developed by early 20th-century economist Corrado Gini, representing income or wealth inequality within a given group. A Gini coefficient of 0 means that everyone has an equal income, while a coefficient of 1 indicates maximum inequality (i.e., one person or group controls all the wealth).
While extreme poverty can coexist in proximity to immense wealth anywhere in the United States, from rich “blue” northern cities to poor “red” southern counties, the concentration of income — a significant measure of income inequality — isn’t equally distributed among the states. Nor is there any obvious correlation between the political leanings of a state and its level of income inequality. For example, liberal California ranks much higher than conservative Alabama in income inequality — even though Alabama is among the poorest states in the country. (Compare America’s richest and poorest states.)
1. Alabama
> Income of top 5% in 2019: 21.8% — 23rd lowest
> Gini coefficient: 0.4741 — 19th worst income distribution
> Median household income in 2019: $51,734 — 5th lowest
> Poverty rate in 2019: 15.5% — 7th highest
[in-text-ad]
2. Alaska
> Income of top 5% in 2019: 19.7% — the lowest
> Gini coefficient: 0.4376 — 5th best income distribution
> Median household income in 2019: $75,463 — 12th highest
> Poverty rate in 2019: 10.1% — 13th lowest
24/7 Wall St.
3. Arizona
> Income of top 5% in 2019: 21.8% — 23rd lowest
> Gini coefficient: 0.4591 — 22nd best income distribution
> Median household income in 2019: $62,055 — 23rd lowest
> Poverty rate in 2019: 13.5% — 13th highest
4. Arkansas
> Income of top 5% in 2019: 23.1% — 13th highest
> Gini coefficient: 0.4750 — 14th worst income distribution
> Median household income in 2019: $48,952 — 3rd lowest
> Poverty rate in 2019: 16.2% — 5th highest
[in-text-ad-2]
5. California
> Income of top 5% in 2019: 23.4% — 7th highest
> Gini coefficient: 0.4866 — 5th worst income distribution
> Median household income in 2019: $80,440 — 5th highest
> Poverty rate in 2019: 11.8% — 25th highest
6. Colorado
> Income of top 5% in 2019: 21.8% — 21st lowest
> Gini coefficient: 0.4548 — 17th best income distribution
> Median household income in 2019: $77,127 — 9th highest
> Poverty rate in 2019: 9.3% — 7th lowest
[in-text-ad]
7. Connecticut
> Income of top 5% in 2019: 25.3% — 2nd highest
> Gini coefficient: 0.5024 — 2nd worst income distribution
> Median household income in 2019: $78,833 — 6th highest
> Poverty rate in 2019: 10.0% — 12th lowest
8. Delaware
> Income of top 5% in 2019: 21.0% — 14th lowest
> Gini coefficient: 0.4509 — 16th best income distribution
> Median household income in 2019: $70,176 — 16th highest
> Poverty rate in 2019: 11.3% — 22nd lowest
9. Florida
> Income of top 5% in 2019: 24.1% — 3rd highest
> Gini coefficient: 0.4808 — 6th worst income distribution
> Median household income in 2019: $59,227 — 17th lowest
> Poverty rate in 2019: 12.7% — 19th highest
[in-text-ad-2]
10. Georgia
> Income of top 5% in 2019: 23.3% — 9th highest
> Gini coefficient: 0.4795 — 9th worst income distribution
> Median household income in 2019: $61,980 — 22nd lowest
> Poverty rate in 2019: 13.3% — 14th highest
11. Hawaii
> Income of top 5% in 2019: 19.9% — 2nd lowest
> Gini coefficient: 0.4397 — 7th best income distribution
> Median household income in 2019: $83,102 — 4th highest
> Poverty rate in 2019: 9.3% — 6th lowest
[in-text-ad]
12. Idaho
> Income of top 5% in 2019: 20.6% — 6th lowest
> Gini coefficient: 0.4337 — 2nd best income distribution
> Median household income in 2019: $60,999 — 20th lowest
> Poverty rate in 2019: 11.2% — 21st lowest
13. Illinois
> Income of top 5% in 2019: 23.1% — 11th highest
> Gini coefficient: 0.4800 — 8th worst income distribution
> Median household income in 2019: $69,187 — 17th highest
> Poverty rate in 2019: 11.5% — 25th lowest
14. Indiana
> Income of top 5% in 2019: 22.3% — 21st highest
> Gini coefficient: 0.4584 — 21st best income distribution
> Median household income in 2019: $57,603 — 14th lowest
> Poverty rate in 2019: 11.9% — 24th highest
[in-text-ad-2]
15. Iowa
> Income of top 5% in 2019: 21.1% — 16th lowest
> Gini coefficient: 0.4422 — 10th best income distribution
> Median household income in 2019: $61,691 — 21st lowest
> Poverty rate in 2019: 11.2% — 20th lowest
16. Kansas
> Income of top 5% in 2019: 21.3% — 18th lowest
> Gini coefficient: 0.4500 — 15th best income distribution
> Median household income in 2019: $62,087 — 24th lowest
> Poverty rate in 2019: 11.4% — 24th lowest
[in-text-ad]
17. Kentucky
> Income of top 5% in 2019: 23.1% — 11th highest
> Gini coefficient: 0.4764 — 12th worst income distribution
> Median household income in 2019: $52,295 — 7th lowest
> Poverty rate in 2019: 16.3% — 4th highest
24/7 Wall St.
18. Louisiana
> Income of top 5% in 2019: 23.2% — 10th highest
> Gini coefficient: 0.4978 — 3rd worst income distribution
> Median household income in 2019: $51,073 — 4th lowest
> Poverty rate in 2019: 19.0% — 2nd highest
19. Maine
> Income of top 5% in 2019: 20.9% — 11th lowest
> Gini coefficient: 0.4490 — 13th best income distribution
> Median household income in 2019: $58,924 — 16th lowest
> Poverty rate in 2019: 10.9% — 19th lowest
[in-text-ad-2]
20. Maryland
> Income of top 5% in 2019: 21.0% — 15th lowest
> Gini coefficient: 0.4558 — 19th best income distribution
> Median household income in 2019: $86,738 — the highest
> Poverty rate in 2019: 9.0% — 4th lowest
21. Massachusetts
> Income of top 5% in 2019: 22.4% — 20th highest
> Gini coefficient: 0.4803 — 7th worst income distribution
> Median household income in 2019: $85,843 — 2nd highest
> Poverty rate in 2019: 9.4% — 8th lowest
[in-text-ad]
22. Michigan
> Income of top 5% in 2019: 22.1% — 24th highest
> Gini coefficient: 0.4634 — 25th worst income distribution
> Median household income in 2019: $59,584 — 19th lowest
> Poverty rate in 2019: 13.0% — 17th highest
23. Minnesota
> Income of top 5% in 2019: 21.0% — 13th lowest
> Gini coefficient: 0.4434 — 11th best income distribution
> Median household income in 2019: $74,593 — 13th highest
> Poverty rate in 2019: 9.0% — 3rd lowest
24. Mississippi
> Income of top 5% in 2019: 23.4% — 6th highest
> Gini coefficient: 0.4896 — 4th worst income distribution
> Median household income in 2019: $45,792 — the lowest
> Poverty rate in 2019: 19.6% — the highest
[in-text-ad-2]
25. Missouri
> Income of top 5% in 2019: 22.2% — 23rd highest
> Gini coefficient: 0.4633 — 25th best income distribution
> Median household income in 2019: $57,409 — 13th lowest
> Poverty rate in 2019: 12.9% — 18th highest
26. Montana
> Income of top 5% in 2019: 22.7% — 18th highest
> Gini coefficient: 0.4597 — 23rd best income distribution
> Median household income in 2019: $57,153 — 11th lowest
> Poverty rate in 2019: 12.6% — 20th highest
[in-text-ad]
27. Nebraska
> Income of top 5% in 2019: 20.8% — 9th lowest
> Gini coefficient: 0.4400 — 8th best income distribution
> Median household income in 2019: $63,229 — 25th highest
> Poverty rate in 2019: 9.9% — 10th lowest
28. Nevada
> Income of top 5% in 2019: 23.9% — 4th highest
> Gini coefficient: 0.4710 — 21st worst income distribution
> Median household income in 2019: $63,276 — 24th highest
> Poverty rate in 2019: 12.5% — 21st highest
29. New Hampshire
> Income of top 5% in 2019: 20.4% — 4th lowest
> Gini coefficient: 0.4406 — 9th best income distribution
> Median household income in 2019: $77,933 — 8th highest
> Poverty rate in 2019: 7.3% — the lowest
[in-text-ad-2]
30. New Jersey
> Income of top 5% in 2019: 22.6% — 19th highest
> Gini coefficient: 0.4782 — 10th worst income distribution
> Median household income in 2019: $85,751 — 3rd highest
> Poverty rate in 2019: 9.2% — 5th lowest
31. New Mexico
> Income of top 5% in 2019: 22.0% — 25th highest
> Gini coefficient: 0.4768 — 11th worst income distribution
> Median household income in 2019: $51,945 — 6th lowest
> Poverty rate in 2019: 18.2% — 3rd highest
[in-text-ad]
32. New York
> Income of top 5% in 2019: 25.8% — the highest
> Gini coefficient: 0.5149 — the worst income distribution
> Median household income in 2019: $72,108 — 14th highest
> Poverty rate in 2019: 13.0% — 16th highest
24/7 Wall St.
33. North Carolina
> Income of top 5% in 2019: 22.9% — 15th highest
> Gini coefficient: 0.4743 — 18th worst income distribution
> Median household income in 2019: $57,341 — 12th lowest
> Poverty rate in 2019: 13.6% — 12th highest
34. North Dakota
> Income of top 5% in 2019: 21.8% — 24th lowest
> Gini coefficient: 0.4558 — 18th best income distribution
> Median household income in 2019: $64,577 — 20th highest
> Poverty rate in 2019: 10.6% — 17th lowest
[in-text-ad-2]
35. Ohio
> Income of top 5% in 2019: 22.3% — 22nd highest
> Gini coefficient: 0.4651 — 23rd worst income distribution
> Median household income in 2019: $58,642 — 15th lowest
> Poverty rate in 2019: 13.1% — 15th highest
36. Oklahoma
> Income of top 5% in 2019: 23.3% — 8th highest
> Gini coefficient: 0.4739 — 20th worst income distribution
> Median household income in 2019: $54,449 — 8th lowest
> Poverty rate in 2019: 15.2% — 8th highest
[in-text-ad]
37. Oregon
> Income of top 5% in 2019: 20.7% — 7th lowest
> Gini coefficient: 0.4500 — 14th best income distribution
> Median household income in 2019: $67,058 — 18th highest
> Poverty rate in 2019: 11.4% — 23rd lowest
38. Pennsylvania
> Income of top 5% in 2019: 23.0% — 14th highest
> Gini coefficient: 0.4745 — 17th worst income distribution
> Median household income in 2019: $63,463 — 23rd highest
> Poverty rate in 2019: 12.0% — 22nd highest
39. Rhode Island
> Income of top 5% in 2019: 22.0% — 25th lowest
> Gini coefficient: 0.4628 — 24th best income distribution
> Median household income in 2019: $71,169 — 15th highest
> Poverty rate in 2019: 10.8% — 18th lowest
[in-text-ad-2]
40. South Carolina
> Income of top 5% in 2019: 22.7% — 17th highest
> Gini coefficient: 0.4747 — 16th worst income distribution
> Median household income in 2019: $56,227 — 10th lowest
> Poverty rate in 2019: 13.8% — 10th highest
41. South Dakota
> Income of top 5% in 2019: 20.4% — 5th lowest
> Gini coefficient: 0.4360 — 4th best income distribution
> Median household income in 2019: $59,533 — 18th lowest
> Poverty rate in 2019: 11.9% — 23rd highest
[in-text-ad]
42. Tennessee
> Income of top 5% in 2019: 23.5% — 5th highest
> Gini coefficient: 0.4749 — 15th worst income distribution
> Median household income in 2019: $56,071 — 9th lowest
> Poverty rate in 2019: 13.9% — 9th highest
24/7 Wall St.
43. Texas
> Income of top 5% in 2019: 22.8% — 16th highest
> Gini coefficient: 0.4753 — 13th worst income distribution
> Median household income in 2019: $64,034 — 22nd highest
> Poverty rate in 2019: 13.6% — 11th highest
44. Utah
> Income of top 5% in 2019: 20.9% — 12th lowest
> Gini coefficient: 0.4268 — the best income distribution
> Median household income in 2019: $75,780 — 11th highest
> Poverty rate in 2019: 8.9% — 2nd lowest
[in-text-ad-2]
45. Vermont
> Income of top 5% in 2019: 20.7% — 8th lowest
> Gini coefficient: 0.4471 — 12th best income distribution
> Median household income in 2019: $63,001 — 25th lowest
> Poverty rate in 2019: 10.2% — 15th lowest
46. Virginia
> Income of top 5% in 2019: 21.7% — 20th lowest
> Gini coefficient: 0.4690 — 22nd worst income distribution
> Median household income in 2019: $76,456 — 10th highest
> Poverty rate in 2019: 9.9% — 11th lowest
[in-text-ad]
47. Washington
> Income of top 5% in 2019: 21.6% — 19th lowest
> Gini coefficient: 0.4577 — 20th best income distribution
> Median household income in 2019: $78,687 — 7th highest
> Poverty rate in 2019: 9.8% — 9th lowest
48. West Virginia
> Income of top 5% in 2019: 21.3% — 17th lowest
> Gini coefficient: 0.4644 — 24th worst income distribution
> Median household income in 2019: $48,850 — 2nd lowest
> Poverty rate in 2019: 16.0% — 6th highest
49. Wisconsin
> Income of top 5% in 2019: 20.8% — 10th lowest
> Gini coefficient: 0.4391 — 6th best income distribution
> Median household income in 2019: $64,168 — 21st highest
> Poverty rate in 2019: 10.4% — 16th lowest
[in-text-ad-2]
50. Wyoming
> Income of top 5% in 2019: 20.4% — 4th lowest
> Gini coefficient: 0.4345 — 3rd best income distribution
> Median household income in 2019: $65,003 — 19th highest
> Poverty rate in 2019: 10.1% — 14th lowest
Credit card companies are handing out rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
