Where The $200,000+ Crowd Lives

[one...two...tree 2,762]

Paul Toscano

Where the Richest Americans Live

Taxes have been one of the most hotly debated topics in Washington and cuts for the wealthiest Americans are one of the most controversial subjects surrounding the issue.

But how many rich people are there in the U.S., how much do they make and where do they live? And just what income do you qualify to be rich?

According the data from the Census Bureau, there are currently 4.5 million households that earn over $200,000 per year, the highest wealth division compiled in Census reports, which is approximately 3.8% of all households in the country. The average income of those making over $250,000 is $425,226 and there were 2.37 million households in this range as of 2009, although this data is not broken down by state.

With Census Bureau data from their National Data Book 2010 Statistical Abstract, we've outlined the states that have the highest proportion of households with annual incomes in excess of $200,000. Among the states with the lowest proportion of $200,000+ households are West Virginia (1.4%), South Dakota (1.81%) and Arkansas (1.86%).

15. Minnesota

% of Households Earning $200K+: 3.8%

Total Households: 2,062,681

Households Earning $200K+: 77,772

Median Income: $55,956

14. Texas

% of Households Earning $200K+: 3.9%

Total Households: 8,244,022

Households Earning $200K+: 313,681

Median Income: $47,143

13. Washington

% of Households Earning $200K+: 4.0%

Total Households: 2,501,509

Households Earning $200K+: 99,636

Median Income: $58,964

12. Colorado

% of Households Earning $200K+: 4.1%

Total Households: 1,859,965

Households Earning $200K+: 76,216

Median Income: $59,964

11. New Hampshire

% of Households Earning $200K+: 4.2%

Total Households: 501,505

Households Earning $200K+: 20,899

Median Income: $66,654

10. Illinois

% of Households Earning $200K+: 4.4%

Total Households: 4,759,579

Households Earning $200K+: 208,385

Median Income: $53,413

9. Hawaii

% of Households Earning $200K+: 4.5%

Total Households: 439,685

Households Earning $200K+: 19,876

Median Income: $61,055

8. New York

% of Households Earning $200K+: 5.6%

Total Households: 7,099,940

Households Earning $200K+: 399,014

Median Income: $50,372

7. Virginia

% of Households Earning $200K+: 5.7%

Total Households: 2,932,234

Households Earning $200K+: 165,998

Median Income: $61,151

6. California

% of Households Earning $200K+: 6.2%

Total Households: 12,200,672

Households Earning $200K+: 757,411

Median Income: $56,862

5. Massachusetts

% of Households Earning $200K+: 6.22%

Total Households: 2,449,133

Households Earning $200K+: 152,348

Median Income: $59,981

4. Maryland

% of Households Earning $200K+: 6.9%

Total Households: 2,082,458

Households Earning $200K+: 142,694

Median Income: $65,183

3. New Jersey

% of Households Earning $200K+: 7.5%

Total Households: 3,149,910

Households Earning $200K+: 235,278

Median Income: $64,143

2. Connecticut

% of Households Earning $200K+: 8.0%

Total Households: 1,320,714

Households Earning $200K+: 105,433

Median Income: $65,213

1. District of Columbia

% of Households Earning $200K+: 8.4%

Total Households: 251,039

Households Earning $200K+: 21,194

Median Income: $53,685

http://financiallyfi...ywaad=ad0035

[^_^ 5,021]

200K isn't a big deal anymore. Any dual income family with two professional salaries will be 200+ around here.

Edited December 27, 2010 by \

[Jenn! 918]

200K isn't a big deal anymore. Any dual income family with two professional salaries will be 200+ around here.

Regardless, it's still 3.8% of households in the U.S., so it is a big deal. You sound like some of my family members who think that they're "middle class" - it's like they have no concept of how most of the country lives.

[웃 910]

$200K is a pretty big deal....That is a ton of money coming in each year to a household. Hopefully I will think otherwise in about 10 years but right now that is definitely way upper middle class....

[^_^ 5,021]

Regardless, it's still 3.8% of households in the U.S., so it is a big deal. You sound like some of my family members who think that they're "middle class" - it's like they have no concept of how most of the country lives.

I said making 200K is no big deal if you play your cards right. All you need are two mid level professional salaries.

I never said its common nationwide (although it is very common here and I couldn't give two shits about Arkansas).

[Ban Hammer 12,828]

200K isn't a big deal anymore. Any dual income family with two professional salaries will be 200+ around here.

they can pay more taxes then.

[웃 910]

I said making 200K is no big deal if you play your cards right. All you need are two mid level professional salaries.

I never said its common nationwide (although it is very common here and I couldn't give two shits about Arkansas).

Does your wife make $2,000 per week after taxes have been deducted? That would be great if she did (wish mine did) but I highly doubt it. You make it seem like your average Joe makes $100,000 just by finishing his 2 year associates degree in Liberal Arts.

[one...two...tree 2,762]

Does your wife make $2,000 per week after taxes have been deducted? That would be great if she did (wish mine did) but I highly doubt it. You make it seem like your average Joe makes $100,000 just by finishing his 2 year associates degree in Liberal Arts.

Yep, there are a lot of working professionals out there making considerably less than 100 grand/year. In fact, if you look at the median salaries for the top professions, many of them are under $100,000.

[BishopM 114]

Yep, there are a lot of working professionals out there making considerably less than 100 grand/year. In fact, if you look at the median salaries for the top professions, many of them are under $100,000.

If an average person wants to make $100K/YR in America, its not that far of a stretch. It just takes planning and a good amount of effort...maybe a calculated risk or two. That is one of the great things about this country.

Edited December 28, 2010 by BishopM

[scandal 951]

AJ is right. There's actually a job listing website theladders.com devoted to professionals who consider 100K to be a salary floor. Most of the jobs are management/IT/technical. I never bothered with it, since they charge for access and I got perfectly good results from dice.com and recruiters. In my field if you're 5-10 years out of school or more and not making six figures, you've messed up.

Interesting that DC heads the list. Could it be that federal government pays best after all?

[Jenn! 918]

No one is disputing that certain fields and regions have higher median salaries, often well over $100K, but most people will never earn that kind of money. An "average person" is not going to make over $100K a year, unless I'm working off of a different definition of average.

[one...two...tree 2,762]

No one is disputing that certain fields and regions have higher median salaries, often well over $100K, but most people will never earn that kind of money. An "average person" is not going to make over $100K a year, unless I'm working off of a different definition of average.

And I would add that many professions deserve better pay, but salaries for those professions have remained fairly stagnant over the last couple of decades.

[웃 910]

AJ is right.

AJ is partially right but partially dead wrong. True, if "you play your cards right" and there are 2 married people both with professional jobs, both making 6 figures a year, then you have your 200K per year. But I think it is a very small number. This link from factcheck says 2% of households or 1 out of 50 people will make more than $250,000 per year...Slightly more than the $200,000 figure but the way you guys make it seem so easy to achieve, what's another $50 grand? I would love to make this $100,000 figure for myself but it probably won't happen within the next 5 years...By the time I am 35 I hope to be making around that figure

Go to any inner city and most the people don't even have a bank account.

"In 2009, 14.3 percent of all persons lived in poverty." http://www.npc.umich.edu/poverty/

Since the recession, every time they collect the data they set new records for US households on food stamps....In May 2010 it was 40 million and that was a record. Now 1 out of 7 Americans are on food stamps, or 43 million Americans.

1 out of every 4 children are on food stamps http://www.telegraph...-recession.html

PS: Since I know the stock question is coming I had to temporarily put it on hold because I am closing on a house that requires approximately $5,000 at closing (not including additional repairs) and I can't risk it in the market. I only started with $7,000 so that project is on hold until I get this house rented out

Edited December 28, 2010 by Lord Infamous

[웃 910]

Interesting that DC heads the list. Could it be that federal government pays best after all?

What is also interesting is that the highest rate of food stamp usage in all of America is in DC with 21.5% of the population on stamps (more than 1 out of 5): 3rd paragraph http://money.cnn.com...dex.htm?iid=HLM

[BishopM 114]

You seemed pretty determined/educated/motivated to take a few risks, LI. I'd bet that you'll meet your financial goals.

Blessings - B

Edited December 28, 2010 by BishopM