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DC
$240,531
New York
$105,309
Massachusetts
$98,705
North Dakota
$93,861
Washington
$92,648
California
$92,459
Connecticut
$88,686
Alaska
$86,793
Delaware
$84,812
Illinois
$82,813
Colorado
$82,537
Nebraska
$81,987
Wyoming
$81,321
New Jersey
$80,539
Minnesota
$78,020
Texas
$77,244
Maryland
$76,395
New Hampshire
$75,137
Virginia
$74,558
South Dakota
$73,170
Utah
$72,513
Iowa
$72,146
Kansas
$71,745
Pennsylvania
$71,380
Oregon
$70,816
Ohio
$70,028
Hawaii
$68,529
Georgia
$68,465
Wisconsin
$68,043
North Carolina
$67,399
Nevada
$67,282
Tennessee
$66,685
Indiana
$66,508
Rhode Island
$65,477
Missouri
$63,034
Vermont
$62,762
Michigan
$61,879
Louisiana
$61,807
Arizona
$61,575
Florida
$61,296
Maine
$60,639
Oklahoma
$59,415
New Mexico
$57,874
Kentucky
$57,614
Montana
$57,055
Idaho
$55,501
South Carolina
$55,078
Alabama
$54,487
West Virginia
$54,164
Arkansas
$53,938
Mississippi
$47,343

Richest States 2023

Richest States 2023

Determining the richest states comes down to the residents' income and the local state government's revenue. In this article, we'll look at each state's median household income and GDP to determine the wealthiest states in the U.S.

The state's median household income varies significantly due to the job market, costs of living, and overall economic health. In 2019, the median U.S. household income was $65,712. The District of Columbia had the highest with $92,266, and Mississippi had the lowest with $45,792. Generally, educational attainment correlates with median household incomes.

GDP, or gross domestic product, is a reflection of each state's economy. The GDP refers to the state's overall distribution of goods. The GDP of the U.S. is $21.7 million. By state, the GDP ranges from $33,278 in Vermont to $3,120,386,000 in California.

Richest U.S. States by Median Household Income

State
GDP per Capita 🔽
District of Columbia$240,531
New York$105,309
Massachusetts$98,705
North Dakota$93,861
Washington$92,648
California$92,459
Connecticut$88,686
Alaska$86,793
Delaware$84,812
Illinois$82,813

1. District of Columbia

D.C. has the highest median household income of any state, $90,842. It also has the highest educational attainment in the U.S., with 56.6% of adults having a Bachelor's degree or higher. Despite this, the District still has a relatively high poverty rate of 13.5%.

2. Maryland

Maryland's median income is the second-highest in the U.S. at $87,063. Maryland also has very high educational attainment, with 40.2% of adults having a Bachelor's degree or higher. Maryland also has one of the lowest poverty rates in the U.S. at 9%.

3. New Jersey

New Jersey is the nation's third-richest state, with a median household income of $85,245. New Jersey also ranks high for the quality of education and educational attainment among all states, including having the fourth-highest percentage of adults with a Bachelor's degree at 38.9%. Additionally, New Jersey has the fifth-lowest poverty rate of 9.2%

4. Massachusetts

Massachusetts, known for having high-quality education and high-paying jobs, is the third-richest state in terms of median income. Massachusett's median income is $84,385. Massachusetts is the most educated state, known for having the second-highest percentage of adults with at least a Bachelor's degree (43.7%) and the highest percentage of graduate and professional degree holders (32.4%).

5. Hawaii

Hawaii's median household income is $83,173. This is the fifth-highest in the U.S., which is good because Hawaii has one of the highest costs of living of any state. Hawaii's poverty rate is also relatively low at 9.3%.

Richest U.S. States by GDP

The ranking of which state is the wealthiest looks much different than using median household income. GDP can be largely influenced by population, so, as evident below, the states with the largest GDPs tend to be the largest. Of the five richest states, three of the five states' GDPs line up with their population ranks, except Florida and New York. New York has the third-largest GDP but the fourth-largest population, while Florida has the reverse. We will also note their respective median incomes for comparison.

1. California

California, the nation's most populous state, has the largest state GDP of $3,599,103,000,000. California's median household income is $78,672, the seventh-highest in the U.S.

2. Texas

The country's second-most populous state, Texas, is also its second-richest state in terms of GDP. Texas's GDP is $2,355,960,000,000. Texas's median household income is $63,826, just below the national median.

3. New York

New York is the third-richest state in the United States, with a GDP of $2,053,180,000,000. New York's median household income is the 15th-highest among all states at $71,117.

4. Florida

Florida is the fourth and final state with a GDP of over $1 trillion with $1,389,070,000,000. Florida's median household income is below the national median at $57,703 and the fourteenth lowest in the country.

5. Illinois

Illinois has the nation's fifth-highest GDP and is the fifth-most populous state. Illinois's GDP is $1,033,310,000,000, and its median household income is $68,428.

Richest States 2023

Richest States 2023

Note:
- State GDPs are expressed in millions of dollars. For example, the Illinois value of 1,033,310 is actually $1,033,310,000,000, or just over a trillion dollars.
- GDP per capita is not the same as the average or median income for individuals living in given state.

Download Table Data

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State
GDP per Capita
GDP (millions $)
Alabama$54,487$277,817
Alaska$86,793$63,618
Arizona$61,575$458,950
Arkansas$53,938$165,221
California$92,459$3.60 Mn
Colorado$82,537$484,372
Connecticut$88,686$321,845
Delaware$84,812$87,525
District of Columbia$240,531$162,314
Florida$61,296$1.39 Mn
Georgia$68,465$755,698
Hawaii$68,529$98,219
Idaho$55,501$109,546
Illinois$82,813$1.03 Mn
Indiana$66,508$455,750
Iowa$72,146$231,108
Kansas$71,745$210,670
Kentucky$57,614$260,304
Louisiana$61,807$281,429
Maine$60,639$84,497
Maryland$76,395$470,187
Massachusetts$98,705$688,392
Michigan$61,879$620,696
Minnesota$78,020$446,500
Mississippi$47,343$138,740
Missouri$63,034$389,931
Montana$57,055$65,015
Nebraska$81,987$161,702
Nevada$67,282$215,918
New Hampshire$75,137$105,414
New Jersey$80,539$745,422
New Mexico$57,874$122,115
New York$105,309$2.05 Mn
North Carolina$67,399$730,072
North Dakota$93,861$73,267
Ohio$70,028$822,670
Oklahoma$59,415$240,534
Oregon$70,816$299,125
Pennsylvania$71,380$923,089
Rhode Island$65,477$71,402
South Carolina$55,078$295,880
South Dakota$73,170$67,571
Tennessee$66,685$475,755
Texas$77,244$2.36 Mn
Utah$72,513$248,176
Vermont$62,762$40,617
Virginia$74,558$649,393
Washington$92,648$725,514
West Virginia$54,164$95,588
Wisconsin$68,043$401,792
Wyoming$81,321$47,433
United States$75,674$25.32 Mn
showing: 51 rows

Richest States 2023

Sources