Special Report

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

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31. New Mexico
> Top 1% earn at least: $341,111 (3rd lowest)
> Avg. income of the top 1%: $840,305 (3rd lowest)
> Share of all income earned by the 1%: 14.0% (6th lowest)
> Avg. income among all tax filers: $60,109 (3rd lowest)

New Mexico is one of the lowest-income states in the country, with the average taxpayer earning $60,109 a year. It also has one of the lowest thresholds to be among the top 1% of earners among states at $341,111. In the vast majority of states, an annual income of at least $400,000 is needed to be among the top 1%.

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32. New York
> Top 1% earn at least: $702,559 (3rd highest)
> Avg. income of the top 1%: $2,894,085 (2nd highest)
> Share of all income earned by the 1%: 29.3% (the highest)
> Avg. income among all tax filers: $98,941 (4th highest)

New York is one of only four states where it takes over $700,000 in annual income to be among the top 1% of earners. The state’s high threshold is driven up by New York City, where many of the world’s wealthiest have homes and there is a concentration of high paying jobs. One-percenters in New York earn $2.9 million on average, and their combined earnings account for 29.3% of all income in the state. Meanwhile, the bottom quarter of earners in the state account for just 2.9% of all income.

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33. North Carolina
> Top 1% earn at least: $453,976 (24th highest)
> Avg. income of the top 1%: $1,131,863 (22nd lowest)
> Share of all income earned by the 1%: 16.0% (25th lowest)
> Avg. income among all tax filers: $70,705 (17th lowest)

The top 1% of earners in North Carolina earn at least $453,976, which is near the middle of the 50 states. Collectively, the state’s top 1% of earners account for about one-third of the state’s total income, which is also in the middle of all states. Nationwide, the top 1% of earners account for 38.3% of the national’s total income.

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34. North Dakota
> Top 1% earn at least: $462,352 (21st highest)
> Avg. income of the top 1%: $1,131,705 (21st lowest)
> Share of all income earned by the 1%: 14.3% (10th lowest)
> Avg. income among all tax filers: $79,305 (16th highest)

North Dakota has a more even distribution of income compared to other states. The top 25% of earners in North Dakota state account for 78.5% of the state’s total Federal income taxes paid, the lowest share of any state. The state has a lower share of households with incomes of less than $10,000 per year and a lower share of households earning more than $200,000 compared to the comparable national shares of households.

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35. Ohio
> Top 1% earn at least: $412,919 (12th lowest)
> Avg. income of the top 1%: $1,020,320 (10th lowest)
> Share of all income earned by the 1%: 14.8% (13th lowest)
> Avg. income among all tax filers: $68,950 (15th lowest)

It takes an annual income of at least $412,919 to be among the top 1% of earners in Ohio, a lower threshold than in most states. Across populations, incomes tend to rise with educational attainment, and in Ohio, just 29.0% of adults have a bachelor’s degree, below the 32.6% share of adults nationwide. States with a higher top 1% income threshold also tend to have higher educational attainment.

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