The Richest States In America 2019

The Richest States In America 2019
The Richest States In America 2019

The Richest States In America 2019, from 2016 to 2018, the U.S. economy improved in several key metrics. The median household income increased by more than $1,500, unemployment dropped from 4.9 percent to 3.7 percent, and the poverty rate fell from 14.0 percent to 13.4 percent.

While this is good news, the effects weren’t felt equally across all 50 states, and much of the gains in median household income went to households that were already wealthy. Income inequality in the U.S. remains high and incomes vary dramatically at the state level as well.

The first thing that comes to most people’s minds when they think about determining the richest places is to simply the amount people make.

However, we don’t think that one statistic wholly encompasses what it means to be one of the ‘richest states’. So we looked at this set of criteria from the newly released 2013-2017 American Community Survey:

  • Poverty level
  • Unemployment rate
  • Median income

 

The Richest States In America 2019

 

10. Vermont

Vermont capitol building
Vermont capitol building

Median Income: $57,808
Unemployment Rate: 4.4%
Poverty Rate: 11.4%

Rounding out the top ten this year in Vermont. The city scored in the top 30% of states for each of our criteria and really shines with a low 4.4% unemployment rate. If you can stand the snow, feel free to stay in Vermont if you can afford it.

 

9. Wyoming

Wyoming State Capitol Building
Wyoming State Capitol Building

Median Income: $60,938
Unemployment Rate: 4.7%
Poverty Rate: 11.1%

Ranchers must bring in a decent salary every year since Wyoming ranks so high up on this list. When you have a hard-working population that’s saving money and living responsibly, it can be much easier to accrue wealth. Is that the secret?

 

8. Massachusetts

Massachusetts State House
Massachusetts State House

Median Income: $74,167
Unemployment Rate: 6.0%
Poverty Rate: 11.1%

People in Massachusetts bring in pretty good salaries. While the unemployment rate is about average (6%), the folks out there working hard are getting ahead. Sounds like the upper east coast has all the dough!

 

7. Virginia

Virginia State Capitol
Virginia State Capitol

Median Income: $68,766
Unemployment Rate: 5.5%
Poverty Rate: 11.2%

Virginia has always been a wealthy place. While there are tons of backwoods, redneck areas in Virginia where people are content to live a simple life, half of Virginia lives in the greater Washington D.C. metro area, where people command great salaries.

 

6. Utah

Utah State Capitol Building
Utah State Capitol Building

Median Income: $65,325
Unemployment Rate: 4.4%
Poverty Rate: 11.0%

With only 4.4% of residents out of work, and the average household bringing in $65,325 a year, Utah is quite the rich place. You might get bored living here, but at least you can spend your days counting your cash, right?

 

5. Maryland

Maryland State House
Maryland State House

Median Income: $78,916
Unemployment Rate: 6.1%
Poverty Rate: 9.7%

Maryland just oozes rich. Most of the most successful people who commute to Washington, D.C. live in places like Chevy Chase, where you’ll find more fancy sports cars than just about anywhere else in America.

Maryland actually ranks first for pure income – where homes bring in about $79K a year. And that’s even with Baltimore figured into the mix.

 

4. North Dakota

North Dakota State Capitol
North Dakota State Capitol

Median Income: $61,285
Unemployment Rate: 2.7%
Poverty Rate: 11.0%

North Dakota? Really? It’s true. They’re some hard workers up there, and money goes a long, long way in North Dakota.

Did you know only 2.7% of people are out of work in North Dakota? Basically, if you don’t have a job here, it’s because you refuse to work.

 

3. Hawaii

Hawaii State Legislature
Hawaii State Legislature

Median Income: $74,923
Unemployment Rate: 4.9%
Poverty Rate: 10.3%

Hawaii might be a little misleading. Sure, households earn, on average, about $75,000 each. But the cost of a gallon of milk is like eight bucks, so your paycheck doesn’t go nearly as far as it would in the mainland. Still, only 1 in 10 Hawaiians lives in poverty.

 

2. Minnesota

Minnesota State Capitol
Minnesota State Capitol

Median Income: $65,699
Unemployment Rate: 4.3%
Poverty Rate: 10.5%

Minnesotans live a pretty good life when you look at the data, ‘eh? The Gopher State ranks in the top 10 in every category we measured, and only 4.3% of the population here is out of work.

 

1. New Hampshire

New Hampshire Capitol building
New Hampshire Capitol building

Median Income: $71,305
Unemployment Rate: 4.5%
Poverty Rate: 8.1%

New Hampshire, huh? Would you have guessed? Most people wouldn’t even be able to point to New Hampshire on a map. Sounds like they should call it New Hamp$hire, huh?  Only 8% of the population in The Granite State lives in poverty, and families earn about $71,000 a year, annually.