In 2024, the highest median household incomes in the United States ranged between $96,049 and $104,828, according to data compiled by WorldAtlas. Massachusetts leads the ranking with a median income of $104,828, driven by a highly skilled workforce and major industries such as biotechnology, finance, and healthcare, anchored by institutions like Harvard and MIT. New Jersey follows closely at $104,294, benefiting from proximity to major metropolitan centers and strong sectors in information technology and pharmaceuticals. Maryland ranks third with $102,905, supported by federal research agencies and defense-related employment. Hawaii reports $100,745, sustained by tourism, agriculture, and military expenditures. California, despite its high cost of living, maintains a median income of $100,149, powered by Silicon Valley’s tech innovation, Hollywood’s entertainment output, and expansive agricultural production. New Hampshire, Washington, Colorado, Utah, and Connecticut complete the list, each with distinct economic drivers including low taxation, advanced manufacturing, aerospace, and telecommunications. While these states exhibit strong earnings, they also face challenges such as elevated living expenses and income inequality, underscoring that high wages do not always equate to greater affordability or economic equity.
— news from The Times of India
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Top 10 US states with the highest median household income: Leading states, key industries, and economic insights
There is an unequal distribution of household incomes in the United States, and some selected states lead the others in median earnings. These states integrate qualified human capital, growing industries, as well as geographic advantages, to create wealth. Their top industries include finance, biotech, tech, defense, tourism, as well as agricultural products. Yet, these high incomes can come coupled with high living expenses as well as income disparities. According to WorldAtlas reports, in 2024, the top ten states that recorded high median household incomes vary from $96,049 to $104,828, indicating the wealth creators in the United States. n nList of US states by median household income n nRank n nState n nMedian Household Income (2024) n n1 n nMassachusetts n n$104,828 n n2 n nNew Jersey n n$104,294 n n3 n nMaryland n n$102,905 n n4 n nHawaii n n$100,745 n n5 n nCalifornia n n$100,149 n n6 n nNew Hampshire n n$99,782 n n7 n nWashington n n$99,389 n n8 n nColorado n n$97,113 n n9 n nUtah n n$96,658 n n10 n nConnecticut n n$96,049 n nStates with the highest household income n nMassachusetts n nMassachusetts leads the nation with its median household income of $104,828. With its highly educated workforce, led by universities such as Harvard and MIT, it supports thriving biotechnology, healthcare, and finance industries. Boston acts not only as the cultural but also the economic hub, with excellent infrastructure, a great quality of life, and significant living costs. n nNew Jersey n nSecond is New Jersey, at $104,294. It has the benefit of proximity to New York City and Philadelphia and is supported by finance, IT, and biotechnology. It has the highest population density in the United States and one of the largest numbers of millionaires per capita. n nMaryland n nMaryland has its wealth in the amount of $102,905, due to biotechnology, IT, aerospace, and defense brought by the federal agencies like NIH and NASA. Baltimore acts as an economic centre, and its workforce is highly educated; it has reaped solid fiscal management. n nHawaii n nHawaii brings in a median household income of $100,745. Tourism, agriculture, and federal military spending form the backbone of this economy. The state enjoys the longest life expectancy in the nation, along with some high standards of living. n nCalifornia n nCalifornia’s median income, at $100,149, reflects a large and varied economy. Technology in Silicon Valley fuels growth, as does Hollywood’s entertainment sector and the extensive farming industry. California is also critical to international trade. n nNew Hampshire n nNew Hampshire’s economy is based on technology, manufacturing, finance, and real estate. With a price tag of $99,782, low taxes are buoying both residents and businesses, offering proximity to the Boston metro area. n nWashington n nWashington has $99,389 and major industries in technology, with companies like Amazon and Microsoft. Other big employment sectors include the aerospace industry, trade, and manufacturing. Hydroelectric power production and farming, specifically apples, also contribute to the state’s economy. n nColorado n nColorado, with the help of aerospace, federal research institutions, technology, and agriculture, makes $97,113. Denver is also a center for telecommunications and mining, while key federal agencies bring stability and economic growth. n nUtah n nUtah has a diversified economic base in tourism, technology, mining, agriculture, and energy, at $96,658. The Wasatch Front propels economic activity, and a business-friendly tax system fuels growth and innovation. n nConnecticut n nConnecticut rounds out the top ten with $96,049. Finance, insurance, real estate, and advanced manufacturing dominate the economy. The state boasts a high per capita income and a significant cultural and tourism sector, though the taxes and income inequality within the state are also among the highest in the nation. n nEnd of Article