Massachusetts is currently the richest state in the U.S., according to the latest U.S. Census Bureau data, with a median household income of $99,858 in 2023.

Close behind are New Jersey and Maryland, each with median incomes nearing six figures. These states lead the nation in wealth thanks to their strong economies, highly educated workforces, and high-paying industries like tech, finance, biotech,🍨 and government contracting.

Below is a look at the seven wealthies༒t states in America and what factors 🌜contribute to their financial dominance.

1. Massachusetts ($99,858)

A rising ꦓtide lifts all boats, and the economic prosperity of the Boston area is one example wheꦰre the metaphor rings true. The Massachusetts economy positively impacts neighboring states like New Hampshire.

Massachusetts is also consistently ranked one of the highest-educated states in the country and #1 in education. Additi🌞onally, employment opportunities in industries like health care, biotechnology, and financial se💟rvices bring high earners to the state. 

2. New Jersey ($99,781)

Thanks to its location between New York City and Philadelphia, New Jersey attracts 澳洲幸运5官方开奖结果体彩网:high-income earners who prefer suburban living. It’s a hub ൲for financial services, logistics, and life sciences, helping it mainꦫtain one of the highest median incomes in the country.

3. Maryland ($98,678)

Maryland regularly ranks as one of the 澳洲幸运5官方开奖结果体彩网:wealthiest states. The state benefits from its proximity to Washington, D.C., offering plentiful federal jo൲bs and lucrative contracting opportunitie🦋s.

Maryland ranks high in two other key 澳洲幸运5官方开奖结果体彩网:economic indicators: lowest unemploymen💞t rate and highest educational attainment levels. The state also boasts miles of ocean coastline, including the Port of Baltimore and the Chesapeake 🅺Bay, creating a strong coastal economy. 

4. New Hampshire ($96,838)

Approximately 80% of New Hampshire's residents live and work in their home state in one of the state's various growing industries. Additionally, New Hampshire's proximity to Boston, Massachusetts, attracts commuters in high-paying industries to the state. 

5. California ($95,521)

California leads U.S. tourism and is a global leader in two high-profile, high-value industries: technology and entertainment.

Driven by Silicon Valley, the tech sector in California offers some of the highest average salaries in the nation. 澳洲幸运5官方开奖结果体彩网:Income inequality and the high cost of living make Cali𝓀fornia a nice place to visit but an expensive place to li🌼ve. 

6. Hawaii ($95,322)

Hawaii's tourism industry is a significant source of income for many of Hawaii's residents. Income from tourism, combined with government contracts and military spending, keeps the islands of Hawaii not only economically afloat but prosperous.

7. Washington ($94,605)

Washington consistently ranks in the top wealthiest states in the U.S., thanks partly to hosting 17 Fortune 500 companies, including Amazon, Microsoft, and Boeing. The state's biotechnology, clean energy, and aerospace developments also contribute to Washington's residents' high median average income.

While Washington is one of the wealthiest states, residents of Washington pay h♔igher than average home prices, particularly in t🦄he Seattle metro area. 

The Bottom Line

The richest states in the U.S. share common traits: access to quality education, 𒁏high-paying industries, and proximity to economic hubs. While their residents earn more, these states also tend to come with higher living costs, especially for housing. Still, they represent the financial centers of American prosperity.