Hello friends! I know you have been enjoying our series on the United States of America. Well, today our focus is on the Richest State in the US. Looking at the states that constitute the country, one would expect that they all are faring well, but the truth is, it differs from each other. We have painstakingly come up with the Richest States in America 2019 and why they are rated so.
TOP 10 RICHEST STATES IN THE US TODAY – ALL YOU NEED TO KNOW
The states ranked the Wealthiest States in USA are so done according to their median household income and their median home value. Thus, below is the top 10 Richest States in the US Today.
- Maryland
- New Jersey
- Hawaii
- Massachusetts
- Connecticut
- New Hampshire
- Alaska
- California
- Virginia
- Washington
I believe now you have a glimpse of the states that made the list. This may come as a shocker to you because I know some the big states you know are not found on the list especially New York City which was not found on the list. Below is brief information about these states.
- #1. Maryland
- Population: 6,052,177 (2017)
- Median Household Income: $80,776
- Median Home Value: $ 290,000
Seating at the citadel of our list is Maryland State at the number one spot. The state benefits from been established at close proximity to Washington D.C, the capital of the country, bordered on three sides. This means that most residents in the state are working in the public sector including several productive federal government jobs. In fact, the state is said to house the highest number of millionaires per capita. NASA is located in Maryland and it is one of the front organizations employing mathematicians in the country. Also, its education system is one of the best in the country including the University of Maryland.
- #2. New Jersey
- Population: 9,005,644 (2017)
- Median Household Income: $80,088
- Median Home Value: $327,700
With just a little different from the median household income of Maryland, New Jersey is the second Richest State in America 2019. The state is at the forefront of pharmaceuticals, transportation and biotechnical sector and also houses over 5000 IT companies. Its close proximity with New York City also adds to its advantage of housing some of the wealthiest people in the country. About 40% of its adult population is Bachelor’s Degree holder and 13% of households earning is approximated at $200,000.
- #3. Hawaii
- Population: 1,427,538 (2017)
- Median Household Income: $77,765
- Median Home Value: $616,000
Hawaii State is known for its booming tourism sector as well as its defence industry which are the major industries in this state. The state is notable for many things including being the fourth state with the lowest poverty rate and it has the lowest food insecurity rate of any state in the country. In addition, workers in this state are less likely to become unemployed. Hawaii median home value at $616, 000 is the highest in the country. Due to its lucrative tourism sector as Hawaii is a choice vacation hub, industries such as arts, entertainment, recreation, accommodation, and food service are also money-spinning. However, before thinking of moving to this city, also consider the price of buying basic things such as groceries which can be very expensive.
· #4. Massachusetts
- Median Household Income: $77,385
- Median Home Value: $407,700
Massachusetts State is the 15th Most Populated State in the US with a population of over 7 million people. Occupying the fourth spot on our list of Richest States in the US. Some of the State’s main industries include education, financial services, health and technology. Massachusetts is a highly educated state and home to the highest number of residents per capita with bachelor’s degrees.
- #5. Connecticut
- Median Household Income: $74,168
- Median Home Value:
Connecticut is enlisted here because it houses four of the 25 Richest Towns in America. Interestingly, the Bridgeport-Stamford-Norwalk metro area in Connecticut is home to the highest concentration of millionaires in the United States as spelt out by Kiplinger. Not just that, the state houses the second-highest percentage of households and some of them are worth over $1,000, 000. Most workers in Connecticut are hardly found doing low earning jobs such as transportation or agriculture.
- #6. New Hampshire
- Population: 1,342,795 (2017)
- Median Household Income: $73,381
- Median Home Value: $276,400
New Hampshire State is one of the least populated States in the United States standing at the 11th spot, but that is not a barrier for the state appearing on our list of the Richest States in the US at the 6th spot. Interestingly, residents of New Hampshire enjoy state income or capital gains tax freedom. The state has one of the highest average incomes in the country as well as the lowest poverty rate with less than 8% falling below the federal poverty line. A very educated community having education as one of its major economic activities with the Universities rated among the top 10 employers of labour in the state. Manufacturing, healthcare and tourism are other leading industries in the state.
- #7. Alaska
- Population: 1,342,795 (2017)
- Median Household Income: $73,381
- Median Home Value: $276,400
Another least populated state makes our list of Richest States in the US. Alaska has some of the greatest income equality among households. Alaska major wealth comes from the petroleum industry creates the largest number of jobs in the state, seconded by tourism, which is the largest private sector and the seafood export as well. Alaskans enjoy oil dividend which is set at $1,600 in 2018. Alaska median household incomes are still one of the highest in the country. However, the state experienced a drop in its median at $73,181 which is $4,722 lower than it was the previous year.
- #8. California
- Population: 39,536,653 (2017)
- Median Household Income: $71,805
- Median Home Value: $548,000
I almost felt California will not be on this list but here it is at last sitting on the eight spot. Home to most of the wealthiest cities in the United States and it has the largest economy in the U.S. with a gross state product of nearly $3 trillion, owing to the tech companies established in the state. Entertainment is another booming industry in the state especially in the city of Los Angeles where Hollywood is located. Not forgetting also, the agriculture, media, trade and tourism sector which also drives the state’s economy forward. There are high paying jobs in the state which have increased the median household income of the state, but sadly, it still has a high rate of unemployment and poverty rate.
- #9. Virginia
- Population: 8,470,020 (2017)
- Median Household Income: $71,535
- Median Home Value: $258,600
Virginia is in close proximity to Washington D.C. and which majority of its residents are federal workers and professional consultants making the U.S government the major employers in the state. The cost of living in this state is relatively low compared to other states enlisted in this article and it is home to five out of the Top 10 Richest Towns in America. Majority of Virginia adults have possessed Bachelor Degree and are very qualified to work in high paying jobs and land employment in lucrative companies. Nonetheless, the unemployment rate in Virginia is lower than the national average. Also, the U.S. Department of Defense and the IT companies are also one of the largest employers of labour in the state.
- #10. Washington
- Population: 7,405,743 (2017)
- Median Household Income: $70,979
- Median Home Value: $385,800
Coming last on our list is the seat of power and the United States Capitol, Washington D.C. The state has one of the highest unemployment rates in the country at 4.8% which is higher than the national unemployment rate set at 4.4%. Washington doesn’t have an income tax along with other states such as Alaska, Florida, Nevada, South Dakota, Texas and Wyoming.
Conclusion on the Top 10 Richest States in the US Today – All You need to know
You will agree with me that it is good to always have firsthand information concerning a place where you have never visited especially if you are planning to visit or want to relocate to a new area. There have been a series of up and down in the economy of the United States but some states performed better than others. I believe you are now acquainted with the Wealthiest States in USA. Most of these states are interesting places to visit and hopefully settle down.
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