Looking to strike it rich? GoBankingRates has crunched the numbers to see what it takes to hit the top 5% of earners in every state.

Well, if you've got dreams of wealth, West Virginia might just be calling your name. The lowest threshold is West Virginia, where a yearly haul of $329,000 lands you in the lap of luxury. Mississippi's not far off, clocking in at $334,000, with New Mexico trailing just a bit behind at $353,000.

Now, if you're shooting for the stars, you'll want to set your sights on Connecticut. There, the price of admission to the "rich" club hits a whopping $656,000 per year—nearly double what you'd need in West Virginia. New York and Massachusetts aren't far behind, demanding $621,000 and $617,000 annually, respectively.

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And speaking of ups and downs, let's talk about here in North Dakota. It's sitting at the bottom of the heap when it comes to income growth among the top 5%, with a paltry 14.68% increase over five years. While some states are riding high, North Dakota's economic ride looks more like a slow crawl.

North Dakota

  • 2022 Average Income of Top 5%: $418,541
  • 2017 Average Income of Top 5%: $364,954

Thanks to inflation and a bunch of other factors, the bar for wealth has shot way up. According to the report, folks in that top 5% bracket are pulling in about 30% more cash than they were back in 2017. So, if you're gunning for riches, you might need to aim a little higher these days. Montana faired better than North Dakota on the list. Check its  Elite status here.

LOOK: The priciest home for sale in every U.S. state

From vast expanses to explore in the West to "cozy" beach retreats in the East, get ready to be dazzled by the opulence of the most luxurious real estate across all 50 states. We've ranked them from the least expensive (a bargain at $3,095,000!) to the most expensive. Simply tap or click on the photo to see more of each home, or if you're feeling extravagant, book a viewing.

Gallery Credit: Stephen Lenz




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