The median income in the US is about $83,000 — and you could make more or less than that number depending on where you live. But which states are the highest earning overall?
A new WalletHub study used three income-related measures to rank states: the average annual income of the top 5%, the average annual income of the bottom 20%, and the median annual household income of the state’s entire population.
The resulting rankings include some surprises. None of the states known for being home to billionaires, like New York, California, and Florida, took the top spot.
WalletHub analyst Chip Lupo said New York’s income disparity is a reason it came up just short of the No. 1 ranking. While the top 5% makes a lot, the state’s middle class isn’t making nearly as much.
“In terms of just the median annual income, which I think is what most people are interested in as far as that’s a reflection of the middle class, New York is a little above average in terms of its median annual income at $96,000,” Lupo told Business Insider.
One state that barely cracked the top 15 is California; a state known for movie stars and moguls. Lupo posited that the Golden State’s lower ranking on the list may have been impacted by several top earners leaving.
“What’s going on in California also is the number of high-wealth individuals that are fleeing the state,” Lupo said. “A lot of wealth is moving out of the state and into more tax-friendly states like Texas, Florida, and Tennessee. So that’s a huge driver.”
Read on for the 15 states where people have the highest income, according to WalletHub.
15. Florida
Miami. tifonimages/Getty Images
Total score: 49.89
Average annual income of top 5%: $507,073
Median annual income: $75,737
Average annual income of bottom 20%: $16,378
14. Georgia
Atlanta. Dan Reynolds Photography/Getty Images
Total score: 52.76
Average annual income of top 5%: $516,260
Median annual income: $72,437
Average annual income of bottom 20%: $17,301
13. California
San Francisco. Prasit photo/Getty Images
Total score: 53.45
Average annual income of top 5%: $482,584
Median annual income: $133,974
Average annual income of bottom 20%: $14,662
12. District of Columbia
Washington, DC. halbergman/Getty Images
Total score: 54.11
Average annual income of top 5%: $488,074
Median annual income: $174,287
Average annual income of bottom 20%: $9,579
11. Texas
Dallas. joe daniel price/Getty Images
Total score: 54.93
Average annual income of top 5%: $520,378
Median annual income: $75,905
Average annual income of bottom 20%: $17,651
10. Massachusetts
Boston. DenisTangneyJr/Getty Images
Total score: 57.11
Average annual income of top 5%: $498,062
Median annual income: $137,563
Average annual income of bottom 20%: $14,440
9. Illinois
Chicago. Aerial_Views/Getty Images
Total score: 57.88
Average annual income of top 5%: $533,840
Median annual income: $83,277
Average annual income of bottom 20%: $16,813
8. Minnesota
Minneapolis, Minnesota. joe daniel price/Getty Images
Total score: 58.66
Average annual income of top 5%: $500,074
Median annual income: $90,632
Average annual income of bottom 20%: $20,662
7. Colorado
Denver, Colorado. Ultima_Gaina/Getty Images
Total score: 59.65
Average annual income of top 5%: $498,587
Median annual income: $106,187
Average annual income of bottom 20%: $19,588
6. Utah
Salt Lake City, Utah. Vadym Terelyuk/Getty Images
Total score: 61.24
Average annual income of top 5%: $475,515
Median annual income: $98,858
Average annual income of bottom 20%: $24,307
5. Connecticut
Hartford, Connecticut. Sean Pavone/Getty Images
Total score: 64.73
Average annual income of top 5%: $543,016
Median annual income: $122,032
Average annual income of bottom 20%: $15,095
4. Washington
Seattle. SCStock/Getty Images
Total score: 65.23
Average annual income of top 5%: $522,328
Median annual income: $112,933
Average annual income of bottom 20%: $19,082
3. New Jersey
Jersey City, New Jersey. OlegAlbinsky/Getty Images
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