A recent study explored the income necessary to be classified as ‘rich’ across various US states.
Determining what it means to be ‘rich’ involves more complexities than one might initially think. Variables such as inflation and varying market rates mean that $1,000 can have different values depending on where you are.
Consider how in 2026, consumer goods like televisions, furniture, or technology have become more accessible in comparison to four decades ago. Yet, the expense of essentials such as housing, utilities, and healthcare has surged beyond wage growth in the US.
Perhaps being rich also involves the comfort of dining on small portions without the concern of where your next meal will come from.
However, this discussion focuses on a more concrete benchmark: being among the top 10 percent of earners.
While wages are not the sole indicator of wealth—as they exclude other assets like real estate or investment portfolios—this analysis specifically uses income as the metric.
Starting with West Virginia, earning $198,000 annually places you in the state’s top 10 percent income bracket.
Moving into the mid-range, incomes between $200,000 and $300,000 mark the threshold for the top 10 most costly states.
At the lower end, Mississippi requires $200,900 annually, Arkansas $206,000, and Oklahoma $206,800 to be in the top 10 percent.
Approaching the higher end of this mid-range, Minnesota requires $270,300 and New Hampshire $302,500.
The top ten most expensive states require over $325,000 to fall within the top 10 percent of earners.
These states include Massachusetts, Connecticut, New Jersey, Washington, New York, Hawaii, Alaska, California, Maryland, and Rhode Island.
Interestingly, the disparity between top earners and median house prices is more pronounced in these states.
Hannah Jones, a senior economic researcher at Realtor.com, explained to the New York Post: “In the nation’s most expensive housing markets, Hawaii, New York, California, and Massachusetts, a $200,000 income would make only about 50% to 55% of homes affordable.”
In West Virginia, the top 10 percent of earners at $198,000 face average house prices of $249,000, roughly 1.26 times higher.
Meanwhile, in Massachusetts, the required income is $386,800, with average house prices at $615,000, or about 1.59 times greater.
The standout is Washington DC, where entry into the top 10 percent demands an income of $635,000 annually.
This highlights how you could be among the top earners yet still need a substantial mortgage to purchase a home.