How Much Money Puts You in the Top 5% in Every State
Americans who earn $250,000 or more annually place among the top 5% of high earners. However, you can still break through into the top 5% while earning slightly less. In fact, there are 11 states where the income threshold is less than $250,000 to be considered the top 5%, according to a new study from MoneyLion.
For this study, MoneyLion reviewed the Census Bureau’s 2024 American Community Survey to find the amount a household must make pre-tax to be in the top 5% of highest earning households in each state. Key factors sourced include each state’s lower income limit of the top 5% of households, average household income of the top 5% and the average household income for the entire state.
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Key Findings
There are 11 states where Americans place in the top 5% if they earn under $250,000. From highest to lowest household income, these states include New Mexico ($247,699), South Dakota ($246,023), Indiana ($245,970), Iowa ($243,236), Alabama ($242,174), Louisiana ($238,482), Oklahoma ($234,149), Kentucky ($232,473), Arkansas ($222,040), West Virginia ($212,375) and Mississippi ($211,589).
Household incomes for the top 5% exceed $600,000 in six states. Connecticut households earn the most with $692,140 annually, followed by New York ($660,664), Massachusetts ($640,976), California ($632,836), New Jersey ($624,759) and Washington ($613,761).
Average household incomes aren’t keeping up with high earners. Massachusetts ($104,828), New Jersey ($104,294), Maryland ($102,905), Hawaii ($100,745) and California ($100,149) are the only five states with an average household income of $100,000 or more.
Find out how much money puts you in the top 5% in every state.
Alabama
How much you need to earn to be in the top 5%: $242,174
Average household income of top 5%: $397,207
Average household income in the state: $66,659
Alaska
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $505,472
Average household income in the state: $95,665
Arizona
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $491,192
Average household income in the state: $81,486
Arkansas
How much you need to earn to be in the top 5%: $222,040
Average household income of top 5%: $385,591
Average household income in the state: $62,106
California
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $632,836
Average household income in the state: $100,149
Colorado
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $572,314
Average household income in the state: $97,113
Connecticut
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $692,140
Average household income in the state: $96,049
Delaware
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $484,587
Average household income in the state: $87,534
Florida
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $513,319
Average household income in the state: $77,735
Georgia
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $485,391
Average household income in the state: $79,991
Hawaii
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $554,337
Average household income in the state: $100,745
Idaho
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $433,141
Average household income in the state: $81,166
Illinois
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $526,497
Average household income in the state: $83,211
Indiana
How much you need to earn to be in the top 5%: $245,970
Average household income of top 5%: $406,352
Average household income in the state: $71,959
Iowa
How much you need to earn to be in the top 5%: $243,236
Average household income of top 5%: $388,530
Average household income in the state: $75,501
Kansas
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $446,918
Average household income in the state: $75,514
Kentucky
How much you need to earn to be in the top 5%: $232,473
Average household income of top 5%: $380,654
Average household income in the state: $64,526
Louisiana
How much you need to earn to be in the top 5%: $238,482
Average household income of top 5%: $391,326
Average household income in the state: $60,986
Maine
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $439,986
Average household income in the state: $76,442
Maryland
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $551,040
Average household income in the state: $102,905
Massachusetts
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $640,976
Average household income in the state: $104,828
Michigan
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $440,173
Average household income in the state: $72,389
Minnesota
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $490,491
Average household income in the state: $87,117
Mississippi
How much you need to earn to be in the top 5%: $211,589
Average household income of top 5%: $351,488
Average household income in the state: $59,127
Missouri
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $424,120
Average household income in the state: $71,589
Montana
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $458,810
Average household income in the state: $75,340
Nebraska
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $422,020
Average household income in the state: $76,376
Nevada
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $498,078
Average household income in the state: $81,134
New Hampshire
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $526,651
Average household income in the state: $99,782
New Jersey
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $624,759
Average household income in the state: $104,294
New Mexico
How much you need to earn to be in the top 5%: $247,699
Average household income of top 5%: $387,689
Average household income in the state: $67,816
New York
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $660,664
Average household income in the state: $85,820
North Carolina
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $476,994
Average household income in the state: $73,958
North Dakota
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $459,933
Average household income in the state: $77,871
Ohio
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $423,457
Average household income in the state: $72,212
Oklahoma
How much you need to earn to be in the top 5%: $234,149
Average household income of top 5%: $407,557
Average household income in the state: $66,148
Oregon
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $462,142
Average household income in the state: $85,220
Pennsylvania
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $485,453
Average household income in the state: $77,545
Rhode Island
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $479,720
Average household income in the state: $83,504
South Carolina
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $424,042
Average household income in the state: $72,350
South Dakota
How much you need to earn to be in the top 5%: $246,023
Average household income of top 5%: $431,202
Average household income in the state: $76,881
Tennessee
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $466,114
Average household income in the state: $71,997
Texas
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $509,433
Average household income in the state: $79,721
Utah
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $487,185
Average household income in the state: $96,658
Vermont
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $487,703
Average household income in the state: $82,730
Virginia
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $545,772
Average household income in the state: $92,090
Washington
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $613,761
Average household income in the state: $99,389
West Virginia
How much you need to earn to be in the top 5%: $212,375
Average household income of top 5%: $345,740
Average household income in the state: $60,798
Wisconsin
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $417,893
Average household income in the state: $77,488
Wyoming
How much you need to earn to be in the top 5%: $250,000+
Average household income of top 5%: $461,848
Average household income in the state: $75,532
Methodology: MoneyLion found how much a household must make pre-tax to be in the top 5% highest-earning households in each state by analyzing the Census Bureau's 2024 American Community Survey (ACS). MoneyLion took the 2024 ACS data on "Household Income Quintile Upper Limits" and found each state's (1) lower income limit of the top 5% of households. Supplemental data compiled includes (2) average household income of the top 5%; (3) average household income for the entire state; and (4) how much more the average 5% household makes than the overall average household in each state. All data was collected on and up to date as of Jan. 21, 2026.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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