The States With the Highest Minimum Wage

Special Report

October 7, 2022 12:00 pm

Last Updated: October 7, 2022 12:52 pm

Source: DenisTangneyJr / E+ via Getty Images

25. South Dakota
> Minimum hourly wage: $9.95
> Est. hourly wage needed for a family of four: $33.83 — 2nd lowest
> Unemployment rate, Aug 2022: 2.4% — 7th lowest
> Total population: 895,376 — 5th lowest

Source: SeanPavonePhoto / iStock via Getty Images

24. Florida
> Minimum hourly wage: $10.00
> Est. hourly wage needed for a family of four: $37.25 — 23rd highest
> Unemployment rate, Aug 2022: 2.8% — 10th lowest
> Total population: 21,781,128 — 3rd highest

ALSO READ: States Recovering the Fastest From High Unemployment

Source: okimo / iStock via Getty Images

23. Hawaii
> Minimum hourly wage: $10.10
> Est. hourly wage needed for a family of four: $45.71 — 2nd highest
> Unemployment rate, Aug 2022: 3.6% — 23rd highest
> Total population: 1,441,553 — 11th lowest

Source: RudyBalasko / iStock via Getty Images

22. Minnesota
> Minimum hourly wage: $10.33
> Est. hourly wage needed for a family of four: $38.90 — 14th highest
> Unemployment rate, Aug 2022: 2.1% — 3rd lowest
> Total population: 5,707,390 — 22nd highest

Source: Jacob Boomsma / iStock via Getty Images

21. Alaska
> Minimum hourly wage: $10.34
> Est. hourly wage needed for a family of four: $36.40 — 18th lowest
> Unemployment rate, Aug 2022: 3.5% — 24th highest
> Total population: 732,673 — 3rd lowest

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.