Top Richest States in the USA – Where the Money Flows

Top Richest States in the USA – Where the Money Flows

The United States of America is the land of opportunity, but some places in this country are wealthier than others. These states have the highest per capita income and boast some of the best economic opportunities available.

If you’re looking to improve your financial standing or just want to live in a great area, these states should be at the top of your list.

See how your state ranks and learn more about the most economically prosperous places in America below!

Top Richest States in USA – 5 States with a Concentration of Wealth

  • California,
  • Virginia,
  • Maryland,
  • New Jersey and
  • Connecticut is five of America’s richest states.
Top Richest States in the USA
Top Richest States in the USA

Each state has a higher-than-average concentration of rich residents.

Using recently released data from The Economic Policy Institute’s The State of Working America Data Library 2014 Book Series, I compiled a list of cities with a high concentration of millionaires. Here’s what I found.

Statistic: United States: estimated net worth of the 20 richest people as of 2021 (in billion U.S. dollars) | Statista
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5 States where there are High Opportunities for Economic Success

  • These states are Georgia,
  • Texas,
  • Washington State,
  • New Hampshire and
  • Florida.

As you can see by their rankings on our list, each of these states has high economic success due to different reasons.

For example, Texas is a top state for oil and gas production, and growth sectors include financial services, education, and health care. It’s also one of the highest-ranked states for economic stability.

Top Richest States in the USA
Top Richest States in the USA

States with a Diverse Range of Industry Options

Every state has a different set of industry strengths, and for many reasons. It could be based on natural resources or transportation routes.

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Statistic: Projected Consumer Price Index in the United States from 2010 to 2026 | Statista
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There is no right answer to why some states are more prosperous than others—it’s just an interesting thing to know about our country. Most of these states are clustered on or near the east coast, but you’ll find one out west as well. So here they are, sorted by average income per capita.

States with Low Cost of Living

  • Mississippi (86.1)
  • Arkansas (86.9)
  • Oklahoma (87)
  • Missouri (87.1)
  • New Mexico (87.5)
  • Tennessee (88.7)
  • Michigan (88.9)
  • Kansas (89)

If you’re planning on opening your business in a major city, you’ll want to look for one with a lower cost of living.

Living costs less in some places than others, and if you live where you work, cutting expenses is crucial to your bottom line.

U.S. states providing high incomes across all sectors

The wealthiest states in America aren’t necessarily those with high concentrations of finance, technology, and other buzzy industries.

Indeed, some of America’s richest states are actually best known for more traditional businesses such as farming and manufacturing.

But regardless of your business sector, there are opportunities to earn above-average incomes from several U.S. states that also provide a favorable cost of living.

Inherited Wealth Concentrates Among the Ultra-Rich On Planet

Infographic: Inherited Wealth Concentrates Among the Ultra-Rich | Statista You will find more infographics at Statista

Top Richest States in the USA – Where the Money Flows