Average Income by State (2024)
The most recent report from the United States government reveals a continued upward trajectory in average annual gross income levels since 2017. Given the substantial differences in the cost of living across states, it's evident that average incomes can vary significantly from one state to another. Understanding the income levels of potential buyers is crucial for businesses aiming to tailor effective pricing strategies.
Here's an overview of the average income by state to aid in crafting a more informed approach.
Average income by state: key highlights
- As of Q2 2024, Massachusetts is the state with the highest annual income, with $95,331, or $7,944.25 per month.
- Only 15 states have an average income higher than the national average of $73,219.
- At $52,022 ($4,335.17 per month), Mississippi is the state with the lowest income.
Average income by state (Q2 2024): states ranked by highest income
|
State |
Average income (Q2 2024) |
State |
Average income (Q2 2024) |
|
1. Massachusetts |
$95,331 |
26. Texas |
$68,640 |
|
2. Connecticut |
$94,363 |
27. Kansas |
$68,638 |
|
3. New York |
$87,153 |
28. Maine |
$68,164 |
|
4. California |
$86,846 |
29. Wisconsin |
$68,009 |
|
5. New Jersey |
$85,894 |
30. Utah |
$67,788 |
|
6. Wyoming |
$85,683 |
31. Montana |
$67,360 |
|
7. Washington |
$84,877 |
32. Missouri |
$65,382 |
|
8. New Hampshire |
$83,396 |
33. Arizona |
$65,330 |
|
9. Colorado |
$83,379 |
34. Tennessee |
$65,119 |
|
10. Maryland |
$79,240 |
35. North Carolina |
$65,039 |
|
11. Virginia |
$77,595 |
36. Ohio |
$64,592 |
|
12. Alaska |
$75,455 |
37. Indiana |
$64,410 |
|
13. Illinois |
$75,434 |
38. Iowa |
$64,357 |
|
14. Minnesota |
$75,251 |
39. Michigan |
$64,188 |
|
15. South Dakota |
$73,962 |
40. Oklahoma |
$62,860 |
|
National average |
$73,219 |
41. Georgia |
$62,660 |
|
16. Nebraska |
$72,892 |
42. Louisiana |
$61,929 |
|
17. North Dakota |
$72,019 |
43. Idaho |
$61,872 |
|
18. Pennsylvania |
$71,780 |
44. South Carolina |
$60,379 |
|
19. Florida |
$71,739 |
45. Arkansas |
$59,490 |
|
20. Oregon |
$71,192 |
46. Kentucky |
$58,240 |
|
21. Rhode Island |
$71,033 |
47. New Mexico |
$57,991 |
|
22. Vermont |
$70,171 |
48. Alabama |
$56,802 |
|
23. Nevada |
$69,829 |
49. West Virginia |
$55,498 |
|
24. Hawaii |
$69,646 |
50. Mississippi |
$52,022 |
|
25. Delaware |
$69,380 |
Average income by state (Q2 2024): states ranked alphabetically
- Alabama: $56,802
- Alaska: $75,455
- Arizona: $65,330
- Arkansas: $59,490
- California: $86,846
- Colorado: $83,379
- Connecticut: $94,363
- Delaware: $69,380
- Florida: $71,739
- Georgia: $62,660
- Hawaii: $69,646
- Idaho: $61,872
- Illinois: $75,434
- Indiana: $64,410
- Iowa: $64,357
- Kansas: $68,638
- Kentucky: $58,240
- Louisiana: $61,929
- Maine: $68,164
- Maryland: $79,240
- Massachusetts: $95,331
- Michigan: $64,188
- Minnesota: $75,251
- Mississippi: $52,022
- Missouri: $65,382
- Montana: $67,360
- Nebraska: $72,892
- Nevada: $69,829
- New Hampshire: $83,396
- New Jersey: $85,894
- New Mexico: $57,991
- New York: $87,153
- North Carolina: $65,039
- North Dakota: $72,019
- Ohio: $64,592
- Oklahoma: $62,860
- Oregon: $71,192
- Pennsylvania: $71,780
- Rhode Island: $71,033
- South Carolina: $60,379
- South Dakota: $73,962
- Tennessee: $65,119
- Texas: $68,640
- Utah: $67,788
- Vermont: $70,171
- Virginia: $77,595
- Washington: $84,877
- West Virginia: $55,498
- Wisconsin: $68,009
- Wyoming: $85,683
What are the highest-income states in 2024?
According to the latest data by the US Bureau of Economy Analysis, Massachusetts is the state with the highest per capita income. As of Q2 2024, workers there reported an average annual income of $95,331, which translates to around $7,944.25 per month. This marks a 5.5% increase from the previous year, when workers there said they earned an average of $90,382. Consequently, individuals in Massachusetts earn a remarkable 30.2% more than the national average, which is recorded at $73,219 per year, or $6,101.58 per month.
Second on the list ranking average incomes is Connecticut, another state in the New England region. The average worker there earns $94,363 per year, $968 less than their counterparts in Massachusetts.
New York is the state with the third-highest income, with $87,153. California and New Jersey round out the five highest-income states—workers there earn $86,846 and $85,894, respectively.
Sixth on the ranking of per capita income by state is Wyoming, with $85,683. Washington follows, with an average annual income of $84,877. Numbers eight and nine on this list ranking average incomes are New Hampshire and Colorado. Workers there earn an average of $83,396 and $83,379. These nine states mentioned so far are the only ones with an average annual income surpassing $80,000. Maryland rounds out the top 10, with $79,240.
Lowest per capita income states: bottom three
At the opposite end of the spectrum, Alabama, West Virginia, and Mississippi stand out as the states with the lowest average incomes. In Mississippi, individuals earn an average of $52,022, while in West Virginia and Alabama, the average annual income is $55,498 and $56,802, respectively.