How Much You Need to Make to Be in the 1% in Every State

Massachusetts is one of the most affluent states in the country, with an average income among all taxpayers of $109,082, the third highest of any state. To be in the top 1% of earners, a tax filer in 2018 needed to have an income of at least $728,272, a higher threshold than all states but one. Adults with a higher educational attainment are much more likely to earn higher incomes, and the state has among the highest shares of adults with a bachelor’s degree, at 44.5% of adults, compared to a national share of 32.6%.

In Michigan, the top 1% of earners account for 16.7% of all income in the state. Meanwhile, the bottom quarter of all earners account for just 3.7% of all earnings. The average income among the wealthiest 1% Michigan residents is $1.2 million — nearly 17 times the average income among all taxpayers in the state of $72,227.

The income floor for the top 1% of earners in Minnesota is $522,444, nearly in line with the national 1% threshold of $538,926. The top 1% of earners in Minnesota account for 16.3% of all income in the state and 31.5% of all federal income taxes — lower than the corresponding national shares of 20.5% and 38.3%, respectively.

In Mississippi, the average annual income among tax filers is just $55,999, the lowest of any state and approximately $27,000 lower than the national average. Individuals with an annual income of $326,182 in the state rank in the top 1%, a threshold about $213,000 less than the national threshold and the second lowest income floor for the 1% of any state.

It takes about $420,000 in annual income to be among the highest 1% of earners in Missouri, a lower threshold than in most states. The average income among one-percenters in the state is $1.1 million, about 16 times the average income of $69,882 among all earners.