HomeTOP LISTTop 10 Richest States in the USA 2024

Top 10 Richest States in the USA 2024

Published on

Do you think your state is wealthy or is among the richest states in the United States? If you are not so sure, then let’s come to you aid as we unveil to you the top 10 wealthiest states in the United States.

Before moving to the list, let’s get an imaginary picture of the United States of America itself.

The United States is a country situated in the northern America, which is home to over 331 million people. Considering the population of the USA, it is the largest in America and the 3rd largest country in the world.

Speaking of its landmass, the United States takes the fourth position among the world’s largest countries by area, thanks to its enormous land area of 9,525,067 square miles.

There are quite a number of interesting sites to visit in the U.S. Some of them include; national parks, beaches, Niagara Falls, long bridges, and historic museums among others. On top of these, the United States is also one of the best places to see the northern lights.

The United States of America has a total of 50 independent states. However, on this list, only the top 10 richest states in USA will be mentioned.

Here are the 10 richest states in the United States:

  1. Maryland.

2. Massachusetts.

3. New Jersey.

4. Hawaii.

5. California.

6. Connecticut.

7. Washington.

8. New Hampshire.

9. Colorado.

10. Virginia.

List of Top 10 Richest States in USA based on Median Household Income

It should be noted that this list ranking of the richest states in USA are based on the states with highest median household income. Another common alternative means of ranking the wealthiest U.S. states is through the Gross Domestic Product of each state.

In descending order of appearance, here are the richest states in the United States.

Related: Longest Bridges in USA.

10. Virginia: Median Household Income ($76,456)

Among the wealthiest states in USA, Virginia is the 10th richest state. Virginia has a median household income estimated at $76,456. The state is located in the southern eastern part of the United States.

The 12th largest U.S. state by area size is Virginia, with an estimated population of 8,683,619. With its landmass of 23,772.3 square miles, Virginia is not that big but takes the 35th position among the largest States in USA by Area.

Two common nicknames of Virginia State include, “ancient dominion” and “mother of presidents.” The nickname, mother of presidents came up due to the reason that Virginia have provided up to 8 presidents in the U.S presidential history, which is more than any other  U.S state have provided.

Richmond is the largest city within the state and it serves as the official capital of the commonwealth of Virginia.

Some of the largest industries of the state of Virginia include; services, agriculture, technology, forestry and fishing. The state is also home to arms and defense manufacturing industry which are notable for production of advanced military technology.

Virginia’s average median home value is estimated at $364,208 and it is projected to have about 3,652,388 homes in 2024.

9. Colorado: Median Household Income ($77,127)

The ninth wealthiest state in USA is Colorado, as its median household income has been estimated to be $77,127. Colorado is a state in the western region of the United States and it ranks as the 8th largest US state by area.

Colorado joined the Union of the United States on August 1, 1876, becoming the 38th state to join the US states’ union. The state is the 21st most populous state in USA, with a population exceeding 5.7 million people. With Colorado having over 2.1 million homes, its average median home value is $545,124.

Denver is the capital city of Colorado and it is also the most populated city within the state. Mining and manufacturing are the main boost to Colorado’s economy. Other sectors that add value to its economy are agriculture, tourism, and aerospace amongst others.

8. New Hampshire: Median Household Income ($77,933)

New Hampshire is another state located in the New England region of USA. It joined the United States Union as the 9th state on June 21, 1788, making it part of the 13 main colonies that formed the United States of America.

As one of the wealthiest U.S. States, New Hampshire has an estimated median household income of $77,933.

This state has two common nicknames; “the white mountain” and the “granite state”. Concord city serves as its capital and it is the 3rd largest within the state.

On the population size of New Hampshire, the state is home to over 1.3 million people, making it the 41st most populous state in USA. While walking down its land mass, it is about 9,349 square miles in size. This makes New Hampshire the 46th largest state by area in the United States.

Finance, insurance, real estate, rental and leasing industry are the powerhouses of New Hampshire’s economy by Gross Domestic Product. The estimated average median home value of New Hampshire is $435,384 and it has over 500,000 homes & apartments.

7. Washington: Median Household Income ($78,687)

The Evergreen State ranks seventh among the richest states in the USA, holding a median household income of $419,298.

In Washington, the average median home price is has been projected to be $436,800. The top industries in Washington include, Food and Agriculture, Aerospace and Construction, Information and Communication Technology, Forestry, and Trade.

Located in the northwest region of the western U.S, Washington State was the 42nd state to join the Union. It was admitted on November 11, 1889, and Olympia serves as the current state capital of Washington State.

The state of Washington is the 13th most populous among the states, having a population reaching 7.7 million. Not far from it is its area size of 71,362 square miles, which as a result makes Washington the 18th biggest state by area in the United States.

6. Connecticut: Median Household Income ($78,833)

Connecticut is also one of the richest states in USA as its median household income is estimated at $78,833. Also, with over 1.37 million homes, Connecticut State has a median home value of $364,082.

The state is located in the southern region of New England, United States. With Connecticut’s total area size of 5,567 square miles, it falls within the list of the top 10 smallest states in the US.

Connecticut’s highest paying industry is the insurance and financial sector which has an annual payroll of over $16 billion. By employment, the major sectors of Connecticut include, Healthcare and Social Assistance, Educational Services and Retail Trade.

Popularly called “the nutmeg state” or “the provision state”, Connecticut is the 29th most populated state, with over 3.6m residents.

Connecticut state capital city is Hartford, often regarded as the capital of the world. On January 9, 1788, Connecticut became the 5th state to join the U.S’ Union, standing among the original 13 colonies.

5. California: Median Household Income ($80,440)

With an estimated Median Home Income of $80,440, California is the fifth richest state in the United States.

California is the most populous state in the US, having a massive number of people exceeding 39.5 million. Its capital city is Sacramento but it isn’t the most populous city in the United States.

Located in the western USA, it is also applauded for its land mass of 166,696 square miles, ranking as the third largest U.S state by area. California is nicknamed the Golden State and it was the 31st state to join the United States’ union.

California’s average median home value has been estimated to be $728,121 in 2024. The main sectors in California include; manufacturing, finance, business services and government.

4. Hawaii: Median Household Income ($83,102)

When it comes to the most beautiful states in America, Hawaii never fails to make it to the list. On top of that, it is one of the wealthiest states in USA, having a median household income of $83,102. Because of its islands and natural beauty, Hawaii generates decent amount of money from tourism each year.

Hawaii is located in the Western region of USA, not far from the Pacific Ocean.  It was the last (50th) state to get admitted in the Union of the United States, on August 21, 1959.

It ranks as the 40th most populous state, with a population reaching 1.45 million people. While its area size is 10,931.72 square miles, making it the 43rd largest state by area in the US. Hawaii’s state capital is Honolulu, and it is home to some of the best beaches in USA.

Apart from tourism (which is the largest sector in the state), agriculture is another boost to the economy of Hawaii, thanks to its fertile soil and unique climate.

3. New Jersey: Median Household Income ($85,751)

The third richest state in the U.S is New Jersey and its median household income is estimated at $85,751. With a multifaceted economy, productivity and retail consumption are the main concentrations of New Jersey’s economy. New Jersey is also among the 13 original colonies of the United States since its joining on December 18, 1787.

Known as the “Garden State”, New Jersey is the 47th largest U.S state by area, having about 8,722.58 square miles. However, it ranks as the 11th most populous state in the U.S with a population reaching 9,299,994 residents.

As of 2024, the estimated average median home value of Ney Jersey is $457,045. Trenton is the capital city of New Jersey and is popularly referred to as “The Turning Point of the Revolution”. New Jersey is home to American Dream, which is one of the biggest malls in America.

2. Massachusetts: Median Household Income ($85,843)

Located in the New England Region, Massachusetts is one of the richest states in America. The annual estimated median household income of the state of Massachusetts is $85,843.

The economy largely concentrates on technological research, development, and other service sectors such as tourism and healthcare.

The United States admitted Massachusetts as the 6th state into the union on February 6, 1788, making it one of the original 13 colonies. Despite Massachusetts population size of over 7 million, its land area size of 10,565 square miles makes it the 7th smallest U.S. state by area.

The capital of Massachusetts is the city of Boston which has majority of its population. According to the Zillow, Massachusetts’ average median home value is $568,244.

1. Maryland: Median Household Income ($86,738)

Maryland is the richest state in USA, leading with a median household income of $86,738. It is a state located in the Mid-Atlantic area of the United States of America.

On April 28, 1788, Maryland became part of the 13 original U.S. colonies after its admission into the union. Maryland is 18th largest U.S. state by population, considering its resident size of over 6.1 million.

The capital city of Maryland is Annapolis while its most populated city is Baltimore. Maryland is the 42nd biggest U.S. state by area, having a total area size of 12,407 square miles. Aside Maryland’s median household income, the estimated median home value of Maryland is $407,230.

Maryland has a diversified economy and some of the key sectors include, manufacturing, real estate retail services, public administration, higher education, health care and biotechnology.

Just In: 12 Best National Parks in the US.

Conclusion – Richest States in USA 2024

The list above only includes the top 10 richest states in the United States out of a total of 50 states. We considered the states with the highest Median Household Income for this list. One could also compile another alternative list from the Gross Domestic Products or Average Median Home Value of each state.

We obtained the data and analysis from a trusted source and conducted thorough research to ensure accuracy in compiling this intriguing list of the richest states in America.

This concludes our list of the wealthiest states in America, kindly tell us if your state makes it to the list.

Latest articles

12 Tested Carry-on Travel Backpacks for Men in 2024

Today, light travel has never been easier or more inviting especially now that we...

What is Miami Known For? 16 Incredible Things Miami is Known For

You need to make your next stop at The Magic City while touring around...

10 Best Things to Do in Osaka 2024

Are you looking for the best things to do in Osaka, Japan? If so,...

14 Unique Things to Do in Sao Paulo 2024

There are many unique things to do in Sao Paulo, the most populous city...

More like this

Top 10 Largest Countries in the World 2024

What are the largest counties in the world? Knowing how large the landmass of...

Top 10 Most Dangerous Cities in the World 2024

In a world where international travel and connectivity has become easier than ever, taking...

What is the Smallest Country in the World? The Top 10 Smallest Countries in the World 2024

In a world where nations span vast territories and comprise millions of square kilometers,...