What Minnesota’s 1 Percent Earns Annually

MINNESOTA — The top 1 percent in Minnesota earns an average annual income of more than $1 million, according to the cost information website, How Much. Minnesota’s ultra rich have one of the higher average annual incomes in the country, a visualization by the website shows.

To be part of the 1 percent in the Land of 10,000 Lakes, you’d have to earn an annual income of 443,118, according to How Much.

How Much notes that 443,118 is just the annual income needed to be counted among the top 1 percent in Minnesota, but the average annual income for that group is significantly higher. The average difference between these two figures for every state is $742,463, the website says.

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The lowest gaps between “the richest of the rich” and the “plain rich” tended to be among states in the South, according to How Much.

Here are the top 10 states where 1 percenters have the highest average annual income:

1. Connecticut ($2,522,806)
2. New York ($2,202,480)
3. Massachusetts ($1,904,805)
4. Wyoming ($1,900,659)
5. Washington D.C. ($1,858,878)
6. California ($1,693,094)
7. New Jersey ($1,581,829)
8. Florida ($1,543,124)
9. Illinois ($1,412,024)
10. Washington ($1,383,223)

The data used in the visualization comes from the Economic Policy Institute, which released a report on income equality in the U.S. in July.

You can see How Much’s full visualization here.

Image via Shutterstock