Maryland’s 1 Percent Earn This Much Annually

The top 1 percent in Maryland earns an average annual income of more than $1.1 million, according to the cost information website, How Much. Maryland’s ultra rich has the 10th-highest average annual income in the country, a visualization by the website shows.

To be part of the 1 percent in the state, you’d have to earn an annual income of $445,783, according to How Much. That’s about $300,000 less than Connecticut, which has the highest annual income needed among all 50 states to be considered a part of the 1 percent.

Neighboring Washington, D.C., is even wealthier, with an average top income of $1.8 million, while Virginia 1-percenters bring in $1.1 million and New Jersey's wealthiest residents bank $1.5 million, the website says.

How Much notes that $445,783 is just the annual income needed to be counted among the top 1 percent in Maryland, 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.

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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