NASHVILLE, Tenn. (WKRN) - What it takes to be considered among the top 5% of earners depends on where you live, according to GoBankingRates.
Researchers with the personal financial site examined state income data across a five-year period to determine how much it would take be in the top 5%.
Wondering how much it will take to land on the list of top earners in Tennessee? You'll need to bring in at least $418,000, according to the report.
The number is nearly a 30% increase from 2017, when workers needed to make $323,763 to be considered "rich" in the Volunteer State.
GoBankingRates found that the richest of the rich are in the nation's capital. In fact, it takes a salary of $719,253 to land in the top 5% of earners in Washington D.C. Meanwhile, West Virginians aspiring to be among the top earners need to bring in $329,620 yearly.
According to the study, residents in California, Colorado, Connecticut, District of Columbia (D.C.), Hawaii, Illinois, Maryland, Massachusetts, New Jersey, New York, Virginia, and Washington need to bring at least $500,000 yearly to be even be considered a top earner.
According to data from the U.S. Census Bureau, the average median household income in the U.S. was $73,914 in 2022. In Tennessee, earning anywhere between $43,498 and $130,508 would classify you as middle class.
To see the full report, click here.
