New York households need to make $351,650 a year to be among the state’s top 10% of earners, a new study has found—but you need to earn even more to be in the same category in Connecticut and New Jersey.
MoneyLion used data from the Bureau of Labor Statistics’ 2024 American Community Survey to reach its findings, uncovering that the top 10% of American earners make three times the median income in all but two states.
In the Empire State, the median annual household income is $85,820, meaning that the top 10% make at least 4.10 times that amount.
In neighboring New Jersey, you’ll need to earn $361,445 to be among the top 10% of households by income. That’s a sizable 3.47 times the median household income of $104,294.
Connecticut, meanwhile, tops not only the tri-state area but also the country as a whole when it comes to the amount of money needed to be a top earner.
There, a household must bank $370,003 annually to make the top 10% — more than Massachusetts ($368,568), California ($362,311), and Washington state ($348,503).
West Virginia, meanwhile, is the state with the lowest annual household income needed to be among the top earners, at $201,400.
The MoneyLion findings come in the wake of two other shocking studies published last year that revealed just how expensive it is to live in New York state, and New York City in particular.
A family of four living in New York state needs to make a staggering $276,973 per year to live comfortably, a SmartAsset study from last June found.
Meanwhile, New York City singles need to earn a sizable $184,420 per year to live comfortably on their own, GOBankingRates reported last October.
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