Virginia residents have the highest income of any U.S. state when balancing median income, income among the top 5% of earners and income among the bottom 20%, according to a June 2 ranking from WalletHub.
While the median annual income in the U.S. is about $83,700, income disparities persist across states, according to WalletHub. The personal finance website compared all 50 states and Washington, D.C., based on the average annual income of the top 5% of earners, the average annual income of the bottom 20% and median income for all residents, with each metric adjusted for cost of living.
The analysis used data from the U.S. Census Bureau and Council for Community and Economic Research collected May 5.
Here are the states where residents have the highest and lowest incomes, according to WalletHub:
10 highest
1. Virginia
2. New York
3. New Jersey
4. Washington
5. Connecticut
6. Utah
7. Colorado
8. Minnesota
9. Illinois
10. Massachusetts
10 lowest
42. Alaska
43. Kentucky
44. Vermont
45. Alabama
46. Rhode Island
47. Maine
48. Louisiana
49. Mississippi
50. New Mexico
51. West Virginia
