You’ve probably seen the lists before. Some say California is the king because of its massive GDP, while others swear by Maryland because of its high median income. Honestly, defining "wealthy" is kinda like trying to hit a moving target while wearing a blindfold. It depends entirely on whether you’re looking at the money flowing through the state or the money actually sitting in a resident's bank account after they pay for those $14 avocados.
In 2026, the economic landscape has shifted slightly. We’re seeing a weird split—booming corporate profits on one side and a cost-of-living squeeze on the other. But if we stick to the hard data from the U.S. Census Bureau and recent economic forecasts, the usual suspects still dominate the top spots.
The Top 10 Wealthiest States in the US (By Median Household Income)
When we talk about the top 10 wealthiest states in the US, median household income is usually the gold standard. It tells us what the typical family is actually bringing home.
1. Massachusetts ($104,828)
Massachusetts has officially crossed that $100k threshold, and it doesn't look like it’s looking back. Basically, it’s the "brain power" state. Between Harvard, MIT, and a massive biotech hub in Cambridge, the workforce here is incredibly specialized. When you have that many PhDs per square mile, the salaries tend to follow.
2. New Jersey ($104,294)
New Jersey often gets a bad rap as just a "suburb of New York," but its wealth is very real. It’s a pharmaceutical powerhouse. You’ve got a huge concentration of engineers and telecommunications experts. Plus, places like Hoboken and Jersey City have become magnets for high-earning professionals who want the NYC career without the NYC address.
3. Maryland ($102,905)
Maryland stays high on the list for one primary reason: proximity. Being right next to D.C. means the state is crawling with high-level federal contractors, lobbyists, and tech experts. It has one of the highest concentrations of bachelor's degrees in the country. If the government is spending, Maryland is earning.
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4. Hawaii ($100,745)
This one is always a bit deceptive. Yes, the income is high, but the "paradise tax" is brutal. Hawaii is one of the most expensive places to live in the world. While the median income looks great on paper, residents often spend a massive chunk of that on imported milk and astronomical electricity bills.
5. California ($100,149)
California finally joined the $100k club recently. It’s a titan. If California were a country, it would have the fifth-largest economy on the planet. Silicon Valley and the entertainment industry in L.A. drive most of this, but it’s also a state of extremes. You have billionaires in Atherton and significant poverty in the Central Valley.
The Rest of the Powerhouses
The gap between number five and number ten is surprisingly tight. These states are all hovering just under that six-figure median income mark.
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- New Hampshire ($99,782): No state income tax. That’s the big draw here. It has a very low poverty rate and a growing tech sector in Portsmouth.
- Washington ($99,389): Think Amazon and Microsoft. The state is essentially an outpost for the world's biggest tech companies. It’s also the only state where residents have the highest "disposable" income after basic expenses, despite the high cost of living.
- Colorado ($97,113): The highest landlocked state on the list. It’s become a massive hub for aerospace and renewable energy. People moved here for the mountains but stayed for the high-paying tech jobs in Denver and Boulder.
- Utah ($96,658): Often called "Silicon Slopes." Utah’s tech scene has exploded in the last five years. It has a very young, educated workforce and a remarkably low unemployment rate.
- Connecticut ($96,049): The old money of the group. Connecticut is the capital of the insurance and hedge fund world. While its growth is slower than Washington or Utah, the sheer amount of accumulated wealth in Fairfield County keeps it firmly in the top 10.
GDP vs. Household Income: What Really Matters?
There's a big difference between a state being "rich" and its people being "rich."
Take New York, for example. In terms of GDP per capita, New York often ranks #1, hitting around $117,332. But when you look at median household income, it’s not even in the top 10. Why? Because the wealth in New York is incredibly concentrated at the top. Wall Street generates billions, but the average family in Queens or Buffalo isn't necessarily seeing that reflected in their paycheck.
Texas is another outlier. It has the second-largest GDP in the country ($2.7 trillion), but its median household income is around $79,721. It’s a massive economy driven by oil, gas, and tech, but it also has a much lower cost of living, which balances things out for the average resident.
The Cost of Living Trap
You sort of have to look at these numbers with a grain of salt. If you make $100,000 in Mississippi (where the median is around $59k), you’re living like royalty. If you make $100,000 in San Francisco or Honolulu, you’re basically just getting by.
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In 2026, we’re seeing a "real wage" stagnation in high-wealth states. Housing prices in Washington and Massachusetts are rising faster than salaries. This has led to a bit of a "wealth migration" where people are taking their high-paying remote jobs from the top 10 wealthiest states in the US and moving to places like Arkansas or Tennessee to make their money go further.
Nuance in the Numbers
We also have to talk about inequality. Maryland has a low poverty rate, but the disparity in Baltimore is massive. New York City has more billionaires than almost anywhere else, yet the state struggles with some of the highest homelessness rates. Wealthy states aren't necessarily "happy" states or "equal" states. They are just high-output states.
Education remains the strongest predictor of state wealth. Every single state in the top five has a significantly higher-than-average percentage of residents with at least a four-year degree. In Massachusetts, it’s nearly 45%. Compare that to lower-income states where that number often dips below 25%, and the correlation becomes impossible to ignore.
Actionable Insights for Moving or Investing
If you're looking at this list and thinking about your next move, don't just look at the raw income.
- Check the Regional Price Parity (RPP): This is a Bureau of Economic Analysis metric that shows how much a dollar is actually worth in a specific state. In California, a dollar is worth about $0.88. In Mississippi, it's worth $1.15.
- Look at State Tax Structures: New Hampshire and Washington have no state income tax, which can save a high-earner $5,000 to $10,000 a year compared to living in New Jersey or Oregon.
- Evaluate Industry Density: If you’re in biotech, Massachusetts is the place to be, regardless of the cost. If you’re in tech, Washington or Utah might offer a better "wealth-to-lifestyle" ratio than California.
- Monitor the Housing Market: Many of these wealthy states have "acute supply shortages." Your high salary might just end up going straight to a landlord or a 30-year mortgage on a fixer-upper.
The U.S. economy is currently in a state of flux, with 2026 being a year of "jobless growth" and high productivity. While the names on the list of the wealthiest states haven't changed much, the way people live within those states certainly has. Wealth is increasingly about what you keep, not just what you earn.