Inequality in the US – Virginia Ranks 1 in Top Earners and Bottom 20%

Virginia leads in income levels among states followed by New Jersey and New York with significant disparities between top earners and those at the bottom.

Virginia Takes Top Spot in States with Highest Incomes

Virginia has taken the top spot in a new study that ranked the 50 states and Washington D.C. by their income levels. The study looked at the average income of the top 5%, median household income, and the average income of the bottom 20%, all adjusted for cost of living. Virginia’s high average income for both top 5% and bottom 20% earners contributed to its top spot, according to the report of Mental Floss.

New Jersey Comes in Second, but with a Wide Income Gap

New Jersey came in second place with an impressive average income for its top 5% earners at $505,621. However, its median household income was lower due to lower earnings for its bottom 20% earners, who brought in just $16,445.

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(photo: USNews.com)

New York’s Top Earners Soar, but Bottom Tier Struggles

New York ranked third with top 5% earners bringing in $553,436 per year. However, its bottom 20% earners had a much lower average income of $13,301.

Washington D.C. Ranks High, but Income Inequality Persists

Washington D.C. rounded out the top 15 with high average income for its top 5% earners at $450,892. However, its bottom 20% earners struggled to make ends meet with an average income of just $9011.

These findings provide insight into the economic landscape of each state and city, highlighting areas where incomes are high and low. These rankings can help consumers navigate economic uncertainty and find better opportunities to build their financial futures.

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