According to the Federal Reserve, the real median household yearly income in the US is $74,580 — but this figure varies wildly from state to state, with some American families earning well over the average and some earning far below.
WalletHub wanted to know what kind of money people are making across the US, so they compared the 50 states and the District of Columbia on the average annual income of the top five percent, the average for the bottom 20 percent, and the median household income for all of each state's residents. The figures have been adjusted for the cost of living index.
There are five states where the median annual income exceeds $120,000: District of Columbia ($162,265), Hawaii ($141,832), Massachusetts ($127,760), Maryland ($124,693) and California ($123,988).
The top five percent earn more than half a million dollars a year in New York ($553,436), Connecticut ($518,757), Virginia ($518,296), New Jersey ($505,621) and Illinois ($504,800).
When it comes to the bottom 20 percent of earners, households in the District of Columbia ($9,011), Louisiana ($11,504) and New Mexico ($11,944) see the lowest average annual incomes overall.
Via WalletHub.
[Image credit: Robert Bye]
