Top 10 Richest States in the United States in 2024
The Richest states in the United States are generally measured by metrics such as median household income, GDP per capita, and other economic factors. Below is a table of the Richest States in the United States based on median household income data from recent years.
| Rank | State | Median Household Income |
|---|---|---|
| 1 | Maryland | $90,203 |
| 2 | District of Columbia | $90,088 |
| 3 | Massachusetts | $89,645 |
| 4 | New Jersey | $89,296 |
| 5 | New Hampshire | $88,465 |
| 6 | California | $84,907 |
| 7 | Hawaii | $84,857 |
| 8 | Washington | $84,247 |
| 9 | Connecticut | $83,771 |
| 10 | Colorado | $82,254 |
1. Maryland
Median Household Income: $90,203
Maryland consistently ranks among the Richest States in the United States The state’s wealth is reflected in its highly educated workforce, with over 40% of adults holding a Bachelor’s degree or higher. Government agencies, defense contractors, and research institutions dominate Maryland’s economy. In Howard County, a hotspot for affluence, the median household income reaches $129,549, ranking it among the wealthiest counties in the nation. Maryland’s largest employer is the federal government, with over 530,000 people employed as of October 2023. The state is also home to institutions like Johns Hopkins University, which are fueling innovation in healthcare and biotechnology. Strategically located along the I-95 corridor, Maryland is a gateway to national and international commerce, with easy access to both Baltimore and Washington, D.C.
Fun Fact: Maryland leads the nation in biotechnology, with over 500 biotech companies calling the state home, earning it the nickname “America’s Research Corridor”.
2. District of Columbia
Median Household Income: $90,088
The District of Columbia holds the second position among the Richest States in the United States As the nation’s capital, it thrives on government, international organizations, and think tanks. Over 56% of adults in D.C. hold a Bachelor’s degree or higher, the highest in the country. This educational attainment fuels the city’s robust economy, driven by federal agencies, non-profits, and a rapidly growing tech startup scene. While D.C. enjoys wealth, it is also known for its stark contrasts in income inequality, with certain areas facing economic challenges. The city’s cultural diversity and proximity to global institutions make it a hub of influence and affluence.
Fun Fact: D.C. has the highest educational attainment in the United States, with 56.6% of adults holding at least a Bachelor’s degree.
3. Massachusetts
Median Household Income: $89,645
Massachusetts is the third wealthiest state in the Richest States in the United States list, known for its leading educational institutions and cutting-edge industries. The state has the second-highest percentage of adults with a Bachelor’s degree or higher, at 43.7%. Massachusetts is a global leader in biotechnology, healthcare, and financial services, with cities like Boston and Cambridge serving as economic engines. The state’s prestigious universities, such as Harvard and MIT, attract talent and fuel innovation. Massachusetts’ high income is bolstered by a thriving tech sector and world-renowned hospitals like Massachusetts General.
Fun Fact: Massachusetts is home to more than 4,000 startups, making it a center for technological and medical advancements.
4. New Jersey
Median Household Income: $89,296
New Jersey ranks fourth among the Richest States in the United States with a strong economy driven by finance, pharmaceuticals, manufacturing, and technology. The state’s strategic location between New York City and Philadelphia makes it a prime spot for commuters and high-income professionals. With 38.9% of adults holding a Bachelor’s degree, New Jersey has a highly educated population. The state’s affluent counties, like Morris County and Somerset County, are among the wealthiest in the nation. The pharmaceutical industry in New Jersey is one of the largest in the United States, contributing to its economic strength.
Fun Fact: New Jersey is home to 14 Fortune 500 companies, including Johnson & Johnson and Prudential Financial.
5. New Hampshire
Median Household Income: $88,465
New Hampshire ranks fifth among the Richest States in the United States thanks to a diverse economy and a high quality of life. The state enjoys one of the lowest poverty rates in the nation, partly due to its strong manufacturing, healthcare, and tech sectors. New Hampshire’s tax structure, with no state income tax, makes it an attractive place for high-income earners. Rockingham County is a particularly affluent area, contributing to the state’s high median income. Residents also benefit from low crime rates and excellent public schools, making New Hampshire a highly desirable place to live.
Fun Fact: New Hampshire is one of the safest states in the United States, with a consistently low crime rate.
6. California
Median Household Income: $84,907
California, the most populous state, is also one of the wealthiest, holding the sixth position among the Richest States in the United States Known for its technology, entertainment, and agriculture sectors, California is home to global giants like Apple, Google, and Tesla. Silicon Valley in particular drives the state’s economy, with tech jobs pushing median household incomes to new heights. Despite the high cost of living, especially in housing, California’s booming economy continues to attract highly educated professionals. Los Angeles and San Francisco are centers of wealth, creativity, and innovation, contributing significantly to the state’s economic prowess.
Fun Fact: California’s economy is the fifth largest in the world, surpassing that of many countries.
7. Hawaii
Median Household Income: $84,857
Hawaii ranks seventh among the Richest States in the United States, driven by tourism, military, and agriculture. Despite its geographic isolation and high cost of living, Hawaii remains one of the wealthiest states in the United States The state attracts millions of visitors each year, and its median household income is supported by its thriving tourism industry. Honolulu and Maui are major hubs for wealth and employment, with a strong military presence further contributing to the state’s economic success.
Fun Fact: Hawaii’s military presence brings in $14 billion annually, making it a crucial part of the state’s economy.
8. Washington
Median Household Income: $84,247
Washington is the eighth wealthiest state in the Richest States in the United States list, with a thriving economy driven by technology, aerospace, and manufacturing. Home to Microsoft, Amazon, and Boeing, the state has become a global tech and innovation hub. Seattle, in particular, is a center of affluence, with high-paying jobs in tech fueling the local economy. The state’s natural beauty, from the Olympic Mountains to Puget Sound, also attracts high-income residents. Washington’s strong economy is further bolstered by its educated workforce, with 36.9% of adults holding a Bachelor’s degree or higher.
Fun Fact: Washington’s wine industry is the second-largest in the United States, contributing significantly to its economy.
9. Connecticut
Median Household Income: $83,771
Connecticut ranks ninth among the Richest States in the United States with a high median income driven by finance, insurance, and manufacturing. Known as the Insurance Capital of the World, the state is home to some of the largest insurance companies in the United States. Fairfield County, including the affluent town of Greenwich, houses some of the wealthiest individuals and families in the country. With its close proximity to New York City, Connecticut is a prime location for high-income earners in the finance industry. The state’s historic charm and strong public schools also make it a highly desirable place to live.
Fun Fact: Connecticut’s Yale University is one of the most prestigious Ivy League schools, drawing students from around the world.
10. Colorado
Median Household Income: $82,254
Colorado rounds out the top ten in the Richest States in the United States list. Its economy is powered by technology, aerospace, healthcare, and the outdoor recreation industry. Denver and Boulder are centers for innovation, attracting a young, educated workforce. With 36.3% of adults holding a Bachelor’s degree or higher, Colorado boasts one of the most educated populations in the United States. The state’s stunning landscapes, from the Rocky Mountains to national parks, make it a prime destination for outdoor enthusiasts, further supporting its robust economy.
Fun Fact: Colorado is a leader in renewable energy, with over 30% of its electricity coming from renewable sources.
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