Top 10 Wealthiest States in America

The United States boasts a diverse economic landscape, and the financial well-being of its states varies significantly. In 2022, the 10 richest states in the U.S. collectively reported an impressive median household income averaging nearly $92,000, according to one-year estimates from the U.S. Census Bureau’s American Community Survey. This figure surpasses the national annual median household income, which stood at $74,755.

However, the income disparity among states is striking. The average household income among the 10 lowest-performing states was $58,524, reflecting a 36% difference from the average among the nation’s top 10 states, which reported a median income of $91,803. Mississippi ranked lowest among the states, with an annual median household income of $52,719.

Let’s explore the top 10 wealthiest states …

New Jersey

Median Household Income: $96,346

New Jersey stands out with three counties ranking among the 15 wealthiest in the U.S. Morris County, the richest, boasts a median household income of $123,727. The state’s dominant trade, transportation, and utilities sector employs over 920,000 workers as of October 2023, according to the Bureau of Labor Statistics.

Maryland

Median Household Income: $94,991

Howard County in Maryland claims the seventh spot among the nation’s wealthiest counties, reporting a median household income of $129,549. The state’s largest employer is the government, with a workforce exceeding 530,000 people as of October 2023.

Massachusetts

Median Household Income: $94,488

Massachusetts boasts a robust education and health services sector, employing over 840,000 workers as of October 2023, according to the Bureau of Labor Statistics.

Hawaii

Median Household Income: $92,458

Hawaii’s largest employer remains the public sector, with more than 124,000 government workers as of October 2023. The trade, transportation, and utilities and leisure and hospitality sectors also contribute significantly to the state’s economy.

California

Median Household Income: $91,551

California shines with four counties, including San Francisco, Marin, San Mateo, and Santa Clara, ranking among the nation’s wealthiest. Santa Clara County leads the pack with a median household income of $140,258.

Washington

Median Household Income: $91,306

Government jobs claim the second-largest share of employment in Washington, employing over 587,000 workers. The trade, transportation, and utilities sector take the lead with over 620,000 workers in October.

New Hampshire

Median Household Income: $89,992

The healthcare industry thrives in New Hampshire, with approximately 95,000 workers in the health care and social assistance sector as of October 2023.

Colorado

Median Household Income: $89,302

Trade, transportation, and utilities are vital employment sectors in Colorado, engaging nearly 500,000 people as of October 2023, according to Bureau of Labor Statistics estimates.

Utah

Median Household Income: $89,168

Major employers in Utah include the Intermountain Health system, Walmart, the state government, and prominent universities like Brigham Young University and the University of Utah.

Connecticut

Median Household Income: $88,429

Connecticut hosts 15 Fortune 500 companies in 2022, spanning crucial industries such as insurance, pharmaceuticals, aerospace, biosciences, and medical technology.

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