In Wisconsin, households must earn a minimum of $117,929 per year to be among the top one-fifth of the state’s income earners, according to a new 24/7 Wall St. analysis examining the threshold of “richness” in all 50 states.
The total share of household income in Wisconsin controlled by that top 20% of earners is 47.8% , 24/7 Wall St. reports. In the nation as a whole, the richest 20% of households earn at least $131,350 annually, according to the analysis.
And to be in the top 5% of income earners in Wisconsin, households need to make at least $202,582 per year. The state’s current median household income stands at $64,168 annually, the report says.
To determine the income needed to be classified as rich in each state, 24/7 Wall St. examined household income data from a 2019 survey conducted by the U.S. Census Bureau. In those states where the top 20% income threshold is higher than most – such as Massachusetts – residents face a higher cost of living, the analysis concluded.
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What Households Must Earn to Be in Top 20%
StateMinimum Annual Income to Be in Top 20% of EarnersShare of Income Controlled by Top 20%Minimum Annual Income to Be in Top 5%Median Household IncomeAlabama$106,22550.5%$189,695$51,734Alaska$144,73647.6%$242,208$75,463Arizona$120,98249.7%$220,936$62,055Arkansas$98,01451.0%$176,997$48,952California$162,65752.0%$250,000$80,440Colorado$147,21749.3%$250,000$77,127Connecticut$161,06353.4%$250,000$78,833Delaware$134,59448.7%$235,059$70,176Florida$117,01751.9%$226,319$59,227Georgia$122,83251.4%$233,979$61,980Hawaii$153,43147.5%$250,000$83,102Idaho$111,82247.6%$199,218$60,999Illinois$137,24851.2%$250,000$69,187Indiana$110,60649.5%$194,407$57,603Iowa$113,23848.1%$199,328$61,691Kansas$117,30348.9%$211,256$62,087Kentucky$103,34950.8%$185,241$52,295Louisiana$107,50552.3%$199,417$51,073Maine$111,89848.7%$202,639$58,924Maryland$164,17949.1%$250,000$86,738Massachusetts$171,61350.9%$250,000$85,843Michigan$115,80250.0%$209,099$59,584Minnesota$138,27348.2%$244,552$74,593Mississippi$94,74452.0%$172,337$45,792Missouri$111,80249.9%$201,541$57,409Montana$108,87749.6%$187,867$57,153Nebraska$117,57048.0%$203,793$63,229Nevada$119,79050.6%$221,626$63,276New Hampshire$145,86548.0%$250,000$77,933New Jersey$171,76051.2%$250,000$85,751New Mexico$105,65250.8%$192,480$51,945New York$151,92654.4%$250,000$72,108North Carolina$113,30251.0%$213,009$57,341North Dakota$121,97549.1%$220,611$64,577Ohio$113,78950.1%$204,940$58,642Oklahoma$107,25250.9%$194,523$54,449Oregon$129,21848.6%$229,747$67,058Pennsylvania$124,98750.9%$233,467$63,463Rhode Island$133,42349.5%$235,524$71,169South Carolina$112,36550.9%$204,826$56,227South Dakota$111,51247.6%$190,156$59,533Tennessee$109,76551.1%$205,063$56,071Texas$128,87851.0%$241,212$64,034Utah$132,56047.1%$235,835$75,780Vermont$120,27048.4%$212,823$63,001Virginia$153,00350.5%$250,000$76,456Washington$151,39649.6%$250,000$78,687West Virginia$97,39949.6%$171,816$48,850Wisconsin$117,92947.8%$202,582$64,168Wyoming$120,19647.2%$199,944$65,003
Source: 24/7 Wall St.
The total share of household income in Wisconsin controlled by that top 20% of earners is 47.8% , 24/7 Wall St. reports. In the nation as a whole, the richest 20% of households earn at least $131,350 annually, according to the analysis.
And to be in the top 5% of income earners in Wisconsin, households need to make at least $202,582 per year. The state’s current median household income stands at $64,168 annually, the report says.
To determine the income needed to be classified as rich in each state, 24/7 Wall St. examined household income data from a 2019 survey conducted by the U.S. Census Bureau. In those states where the top 20% income threshold is higher than most – such as Massachusetts – residents face a higher cost of living, the analysis concluded.
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What Households Must Earn to Be in Top 20%
StateMinimum Annual Income to Be in Top 20% of EarnersShare of Income Controlled by Top 20%Minimum Annual Income to Be in Top 5%Median Household IncomeAlabama$106,22550.5%$189,695$51,734Alaska$144,73647.6%$242,208$75,463Arizona$120,98249.7%$220,936$62,055Arkansas$98,01451.0%$176,997$48,952California$162,65752.0%$250,000$80,440Colorado$147,21749.3%$250,000$77,127Connecticut$161,06353.4%$250,000$78,833Delaware$134,59448.7%$235,059$70,176Florida$117,01751.9%$226,319$59,227Georgia$122,83251.4%$233,979$61,980Hawaii$153,43147.5%$250,000$83,102Idaho$111,82247.6%$199,218$60,999Illinois$137,24851.2%$250,000$69,187Indiana$110,60649.5%$194,407$57,603Iowa$113,23848.1%$199,328$61,691Kansas$117,30348.9%$211,256$62,087Kentucky$103,34950.8%$185,241$52,295Louisiana$107,50552.3%$199,417$51,073Maine$111,89848.7%$202,639$58,924Maryland$164,17949.1%$250,000$86,738Massachusetts$171,61350.9%$250,000$85,843Michigan$115,80250.0%$209,099$59,584Minnesota$138,27348.2%$244,552$74,593Mississippi$94,74452.0%$172,337$45,792Missouri$111,80249.9%$201,541$57,409Montana$108,87749.6%$187,867$57,153Nebraska$117,57048.0%$203,793$63,229Nevada$119,79050.6%$221,626$63,276New Hampshire$145,86548.0%$250,000$77,933New Jersey$171,76051.2%$250,000$85,751New Mexico$105,65250.8%$192,480$51,945New York$151,92654.4%$250,000$72,108North Carolina$113,30251.0%$213,009$57,341North Dakota$121,97549.1%$220,611$64,577Ohio$113,78950.1%$204,940$58,642Oklahoma$107,25250.9%$194,523$54,449Oregon$129,21848.6%$229,747$67,058Pennsylvania$124,98750.9%$233,467$63,463Rhode Island$133,42349.5%$235,524$71,169South Carolina$112,36550.9%$204,826$56,227South Dakota$111,51247.6%$190,156$59,533Tennessee$109,76551.1%$205,063$56,071Texas$128,87851.0%$241,212$64,034Utah$132,56047.1%$235,835$75,780Vermont$120,27048.4%$212,823$63,001Virginia$153,00350.5%$250,000$76,456Washington$151,39649.6%$250,000$78,687West Virginia$97,39949.6%$171,816$48,850Wisconsin$117,92947.8%$202,582$64,168Wyoming$120,19647.2%$199,944$65,003
Source: 24/7 Wall St.
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