Connecticut Residents Have the 4th Highest Income in the US for 2024

According to a recent study, Connecticut residents are more 'Haves' rather than "Have Nots', so much so that Connecticut residents have the fourth highest income overall for 2024 in all of the Unites States of America.

Wallethub.com has just published States Where People Have the Highest Income for 2024, and Connecticut has landed in the Top 5 at #4 in States with the Highest Income. To determine each state's ranking, WalletHub.com compared all 50 states and Washington DC using three factors: Annual average income by the top 5% of earners, Median average household income, and the average annual income of the bottom 20% of earners.

Look around you, do you see pockets of wealth right next to public housing everywhere in Connecticut? Nope. But we do have a huge number of heavy hitters in the earning department. According to WalletHub.com's study, the average annual income of Connecticut's top 5% of earners is $518,747. the only State that beats us in that category? New York, where the top 5% of earners take home $553,436 annually.

In the Median family income metric, Connecticut households earn on average $114,156, which is near the mid-range overall out of all 50 states. The average income of the bottom 20% of earners in Connecticut take home $14,576 each year.

Overall, after all of WalletHub.com's numbers were crunched, Connecticut comes in as the 4th Best in all of the US where people earn the highest incomes. Who beat us? #3 was New York, #2 is New jersey, and the state where you can earn the highest average income? Virginia landed at #1. The worst state, you ask? West Virginia.