If someone told you that if you made $435,000 a year you would be in the top 1% of earners in a US state, you might scoff and guess something unclear. But the real answer? It’s West Virginia, where earning nearly half of what is required in places like Connecticut or California can secure a place among the financial elite.
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In West Virginia, an annual income of $435,302 gets you into the exclusive top 1% club. Compare that to Connecticut, where you’ll need a whopping $1,192,947, or California at $1,072,248. The disparity is striking, but highlights a deeper conversation about regional costs of living, economic opportunity, and what it means to feel “rich” in America.
How does West Virginia compare to other states?
While West Virginia tops the charts for the lowest income threshold to be in the top 1%, a few other states also have relatively “affordable” access to the elite:
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Mississippi: $456,309
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New Mexico: $493,013
These numbers pale in comparison to states like New York, Massachusetts or even Texas, where top earners need closer to – or more than – a million dollars annually.
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What is the average salary in West Virginia?
As of 2024, the average salary in West Virginia is approximately $55,560 per year, significantly lower than the national average of approximately $74,000. This gap speaks volumes about the economic makeup of the state. Many industries in West Virginia, such as mining, manufacturing and healthcare, don’t offer the kind of high salaries you see in technology- or financially driven states.
This contrast between average and elite incomes shows that while $435,000 might make you top dog, most West Virginians live in a much more modest income range.
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Why does it take less to be rich here?
The reasons for West Virginia’s lower threshold are quite simple:
Cost of Living: The cost of living in West Virginia is among the lowest in the country. Basic necessities such as housing, groceries and utilities cost significantly less than in coastal states.
Housing Market: Zillow reports that the average home value in West Virginia is just $168,172, compared to the national median of $412,000. That’s a huge gap – and a huge factor in what a top salary can get you here.
Economic Landscape: The state has no industries with high-paying jobs, such as technology or investment banking. Less huge salaries mean the bar remains lower for the 1%.
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Does this mean a better quality of life?
Maybe. Because the cost of living is lower, $435,000 goes a lot further in West Virginia than in Connecticut or California. With that money you can buy a beautiful house, cover all your expenses and have enough left over for savings and vacations. For many that is the dream.
But it’s not all roses. The state’s economic challenges mean fewer opportunities for upward mobility and fewer options for high-paying careers. The trade-off for affordability may be fewer opportunities to earn more.
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Would you feel rich here?
Wealth is relative. A salary of $435,000 in West Virginia is undeniably “rich.” Still, it may not bring the same benefits as being wealthy in a bigger city: fewer Michelin-starred restaurants, no vibrant nightlife, and fewer career opportunities for big names.
Would you trade the hustle and bustle of a high-cost state for the affordability and natural beauty of West Virginia? It all comes down to your priorities. If you’re looking for a place where your money will go further, West Virginia makes a strong case — especially for well-paid remote workers who aren’t limited by the state’s median income level. It might just be the perfect mix of opportunity and simplicity.
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This article Can you guess which state needs the lowest income to be in the top 1%? You might be surprised how little it costs to be rich. Originally appeared here on Benzinga.com
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