From a strictly financial perspective, do you consider yourself a rich or wealthy person? If you're having trouble coming up with an answer, don't worry—it's a more complex question than you might think. Unless you are a multi-millionaire with more cash than you can count, you may be considered rich and not even know it. What's more, the bar changes depending on where you live. At least that's what a new report from GOBankingRates hints at. Using the latest data from the U.S. Census Bureau's American Community Survey, the financial site calculated the minimum annual income you need to be considered among the top five percent of moneymakers where you live. Read on to discover how much money you need to make every year to be considered rich in your state.
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1 Alabama
Income needed to be in the top five percent: $189,695
2 Alaska
Income needed to be in the top five percent: $242,208
3 Arizona
Income needed to be in the top five percent: $220,936
4 Arkansas
Income needed to be in the top five percent: $176,997
5 California
Income needed to be in the top five percent: $250,000
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6 Colorado
Income needed to be in the top five percent: $250,000
7 Connecticut
Income needed to be in the top five percent: $250,000
8 Delaware
Income needed to be in the top five percent: $235,059
9 Florida
Income needed to be in the top five percent: $226,319
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10 Georgia
Income needed to be in the top five percent: $233,979
11 Hawaii
Income needed to be in the top five percent: $250,000
12 Idaho
Income needed to be in the top five percent: $199,218
13 Illinois
Income needed to be in the top five percent: $250,000
14 Indiana
Income needed to be in the top five percent: $194,407
15 Iowa
Income needed to be in the top five percent: $199,328
16 Kansas
Income needed to be in the top five percent: $211,256
17 Kentucky
Income needed to be in the top five percent: $185,241
18 Louisiana
Income needed to be in the top five percent: $199,417
19 Maine
Income needed to be in the top five percent: $202,639
20 Maryland
Income needed to be in the top five percent: $250,000
21 Massachusetts
Income needed to be in the top five percent: $250,000
22 Michigan
Income needed to be in the top five percent: $209,099
23 Minnesota
Income needed to be in the top five percent: $244,552
24 Mississippi
Income needed to be in the top five percent: $172,337
25 Missouri
Income needed to be in the top five percent: $201,541
26 Montana
Income needed to be in the top five percent: $187,867
27 Nebraska
Income needed to be in the top five percent: $203,793
28 Nevada
Income needed to be in the top five percent: $221,626
29 New Hampshire
Income needed to be in the top five percent: $250,000
30 New Jersey
Income needed to be in the top five percent: $250,000
31 New Mexico
Income needed to be in the top five percent: $192,480
32 New York
Income needed to be in the top five percent: $250,000
33 North Carolina
Income needed to be in the top five percent: $213,009
34 North Dakota
Income needed to be in the top five percent: $220,611
35 Ohio
Income needed to be in the top five percent: $204,940
36 Oklahoma
Income needed to be in the top five percent: $194,523
37 Oregon
Income needed to be in the top five percent: $229,747
38 Pennsylvania
Income needed to be in the top five percent: $233,467
39 Rhode Island
Income needed to be in the top five percent: $235,524
40 South Carolina
Income needed to be in the top five percent: $204,826
41 South Dakota
Income needed to be in the top five percent: $190,156
42 Tennessee
Income needed to be in the top five percent: $205,063
43 Texas
Income needed to be in the top five percent: $241,212
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44 Utah
Income needed to be in the top five percent: $235,835
45 Vermont
Income needed to be in the top five percent: $212,823
46 Virginia
Income needed to be in the top five percent: $250,000
47 Washington
Income needed to be in the top five percent: $250,000
48 West Virginia
Income needed to be in the top five percent: $171,816
49 Wisconsin
Income needed to be in the top five percent: $202,582
50 Wyoming
Income needed to be in the top five percent: $199,944
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