Here’s How Much Money It Takes To Be ‘Rich’ In Arkansas?

We all dream of being rich but how much money does it take to be rich? Millions of dollars? It might not be as much as you think. And the amount of money is different for different states. So, how much money does it take to be considered rich in Arkansas? What about Texas? 

According to a new report at gobankingrates.com, they looked at the top 5% earners in every state. They looked at the average income in 2017 and then again in 2022.

Something interesting they found was the amount of money the top 5% earns has grown considerably over those five years. You know the saying The Rich get richer? Well, this study kind of says just that.

The State With The Highest 5% Earners and The State With The Lowest 5% Earners

The state with the highest 5% earners is Connecticut at $656,000 a year and the state with the lowest 5% earners is West Virginia at 329,000 a year. What about Arkansas and Texas?

How Much Does it Take to be Rich in Texas?

Back in 2017, the Average Income of the Top 5% was $373,094. In the five years from 2017 to 2022, the average income of the top 5% rose by 24.60%, making the 2022 Average Income of the Top 5% earners in Texas a whopping $464,859 per year.

How Much Does it Take to be Rich in Arkansas?

The research showed that in 2017, the Average Income of the Top 5% earners in Arkansas was  $277,187 per year. From 2017 to 2022 the average income of the top 5% rose by 36.02% making the Average Income of the Top 5% earners in Arkansas for 2022 ... $377,043 a year.

I could live with that, heck I could live with the country's lowest-paid Top 5% in West Virginia.

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