Dec 5, 2024 - Economy
How much you need to make to be in the top 1%
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Americans need to make nearly $800,000 to be in the top 1% of households nationally — but the bar varies considerably by state.
By the numbers: Washington, D.C., has the highest threshold for one-percenters, at about $1.22 million.
- Connecticut ($1.17 million), Massachusetts ($1.13 million) and California ($1.05 million) follow.
The other side: West Virginians need to make about $426,000 to be in their state's 1%.
How it works: These figures are based on adjusted gross income (AGI) reported on tax filings in the 2021 tax year, adjusted to 2024 dollars.
Between the lines: The variance between states is tied in part to local economic factors, like job opportunities and wealth concentration.
- West Virginia's floor may be low, for example — but the total AGI per tax return there was about $60,300 in 2021, compared to $112,500 for California.
