New York's 1 Percent Earn This Much Annually

The top 1 percent in New York earns an average annual income of more than $2.2 million, according to the cost information website How Much. New York's ultra rich had the second highest average annual income in the country, a visualization by the website shows.

To be part of the 1 percent in the Empire State, you’d have to earn an annual income of $550,174, according to How Much. That’s the 5th highest annual income needed among all 50 states and the District of Columbia to be considered a part of the 1 percent.

How Much notes that $550,174 is just the annual income needed to be counted among the top 1 percent in New York, but the average annual income for that group is significantly higher. The average difference between these two figures for every state is $715,482, the website says.

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.