Map: How much money you need to make to be in the top 1% in every U.S. state—it's nearly $1 million in Connecticut  (2024)

FAQs

What is top 1 income in Connecticut? ›

Connecticut. Connecticut ranked 1st overall, where you need to earn $1,192,947 to be a part of the top 1%.

The "top 1%" is a term that generally refers to the wealthiest people in a population based on income or net worth. The data from the Economic Policy Institute (EPI) shows that annual wages for the top 1% in 2021 in the U.S. reached $819,324 on average.

How much does an Upper Class make in Connecticut? As of Sep 8, 2024, the average annual pay for the Upper Class jobs category in Connecticut is $54,857 a year. Just in case you need a simple salary calculator, that works out to be approximately $26.37 an hour. This is the equivalent of $1,054/week or $4,571/month.

As of the second quarter 2023, the average American household had wealth of $1.09 million. The average wealth of households in the top 1 percent was about $33.4 million. In the top 0.1 percent, the average household had wealth of more than $1.52 billion.

Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.

Earning $700,000 a year would put your household in the top 1% nationwide — and well above the middle class — and in any state in the South or Midwest. But that still won't cut it in seven states. The Northeast dominates the rankings, with five of the 10 states with the highest 1% thresholds lying in this region.

What income is upper class? ›

While there's no definitive line, households in the top 20% of earners are generally considered upper class. According to the U.S. Census Bureau, the median household income in 2022 was $74,580. To reach the upper class in 2024, you'd typically need an income exceeding $153,000 – more than double the national median.

Overall, the study ranked Massachusetts as the best place to live in the U.S. thanks in part to the state's education and health, (where it ranked first in the country), and their quality of life, (where it ranked sixth). Other states that rounded out the top five were Florida, New Jersey, Utah and New Hampshire.

Only 18% of individual Americans make more than $100,000 a year, according to 2023 data from careers website Zippia. About 34% of U.S. households earn more than $100,000 a year, according to Zippia.

The metrics of being Connecticut middle class

According to this report, in order to be middle class in Connecticut, you must have a household income ranging from $60,142 to $180,426 a year.