How much do you need to make to be in the top 5% in NY or NJ?

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Using data from the Census Bureau’s 2017 report along with statistics from the left-leaning Economic Policy Institute’s income inequality report on the top 1 percent of households, GoBankingRates figured out how much a household needs to make “pre-tax” to be considered in their state’s top 5 percent.

According to the report, the top five most expensive states to be considered in the top 5 percent are in the Northeast and California. However, on that same note, Maine came in as the 10th “cheapest” state to enter that elite group, which came as a surprise to the group’s researchers.

Connecticut

How much you need to be in the top 5 percent (lower end):  $250,000

Top 5 percent mean annual household income: $529,367

New York

How much you need to be in the top 5 percent (lower end): $250,000

Top 5 percent mean annual household income: $480,780

New Jersey

How much you need to be in the top 5 percent (lower end): $250,000

Top 5 percent mean annual household income: $475,827


On the other side, the easiest state to be in top 5% was:

Mississippi

How much you need to be in the top 5 percent (lower end): $154,295

Top 5 percent mean annual household income: $255,454

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