SmartAsset’s newest study evaluated what residents of Arizona need to earn to make it into the Top 1%, Top 5% and Top 10% of income earners in the state. 

Among the study’s key findings: 

  • In Arizona, households must earn $705,747 to be among the state’s Top 1% of earners. 
  • Crossing into the Top 5% and Top 10% requires $287,644 and $199,573, respectively. 
  • Only two states have Top 1% thresholds above $1 million: Connecticut and Massachusetts. 

Fewer than two million American households rank among the top 1% of earners. When examined by state, the income needed to join this group varies dramatically. In some places, households can enter the top 1% at income levels that fall well below the threshold elsewhere, reflecting an uneven landscape of wages and wealth.

SmartAsset analyzed IRS tax return data by state for 2022, the most recent year available. Values were adjusted using personal income growth data to estimate the thresholds needed to enter the top 1%, 5% and 10% by state in 2026. These state-by-state estimates show how the definition of top-tier earnings changes across the country.

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Key Findings

  • D.C. and Connecticut lead. In the District of Columbia, households need nearly $1.16 million in adjusted gross income to enter the top 1%, the highest threshold in the study. Among states, Connecticut leads, with households needing $1.15 million.
  • Only two states have top 1% thresholds above $1 million. In addition to Connecticut, Massachusetts also has a top 1% threshold above $1 million in adjusted gross income.
  • West Virginia has the lowest threshold for entering the top 1%. In West Virginia, households need an estimated $445,892 in adjusted gross income to enter the top 1%, the lowest threshold in the U.S. Entering the top 10% requires $158,674.
  • Mississippi has the lowest threshold for entering the top 10%. In Mississippi, households need about $153,067 in adjusted gross income to enter the top 10%.
  • Millions of tax filers rank among the top 10%. While the top 1% represents a relatively small share of earners in the U.S., more than an estimated 23 million tax filers rank among the top 10%.