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July 14, 2023 at 01:46 PM
Households that make $652,657 a year are considered among the top 1% of families across the U.S., according to a study released this week by SmartAsset. They earn more than eight times as much as the median household, which sits at around $75,000.
The new study is an update to one SmartAsset released in January. Researchers analyzed new 2020 Internal Revenue Service income data and adjusted the figures to May 2023 dollars.
The study found that the 1% threshold varies from state to state, ranging from $368,000 to $953,000. Data from the IRS and the Bureau of Labor Statistics pointed to the minimum income required to be among the top 1% of earners in each state.
See the gallery for how much top earners have to make in 10 states to be in the 1% category, according to SmartAsset’s analysis.
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