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Median Income by State in 2024, Adjusted for Cost of Living

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To gain insight into the U.S. economy, we’ve visualized the median income by state, as of May 2024. These figures come from WalletHub, which sourced income data from the U.S. Census Bureau and adjusted it for cost of living according to the Cost of Living Index (COLI).

Median income refers to the income level at the midpoint of the income distribution within each state. Using California as an example, half of the state’s households earn more than $124,000, while the other half earn less (after cost of living adjustments).

Data and Key Takeaways

All of the numbers we used to create this graphic are listed in the table below.

RankStateMedian Annual Income
(adjusted for cost of living)

1DC$162,265

2Hawaii$141,832

3Massachusetts$127,760

4Maryland$124,693

5California$123,988

6New Jersey$117,847

7Connecticut$114,156

8Alaska$113,934

9New Hampshire$110,205

10Rhode Island$104,252

11Washington$103,748

12Colorado$97,301

13New York$91,366

14Oregon$91,100

15Utah$89,786

16Vermont$89,695

17Virginia$89,393

18Delaware$87,173

19Minnesota$86,364

20Nevada$80,366

21North Dakota$79,874

22Maine$79,800

23Illinois$78,304

24Wyoming$76,307

25Pennsylvania$74,711

26Arizona$74,375

27Wisconsin$72,602

28Nebraska$72,384

29Texas$70,513

30Idaho$70,041

31South Dakota$69,266

32Iowa$68,974

33Montana$68,937

34Florida$68,818

35Kansas$68,489

36Georgia$66,612

37Indiana$64,170

38North Carolina$63,025

39South Carolina$62,909

40Michigan$62,446

41Ohio$61,904

42Missouri$59,715

43Tennessee$59,077

44New Mexico$58,911

45Oklahoma$57,215

46Louisiana$56,282

47Kentucky$55,629

48Alabama$55,480

49West Virginia$52,719

50Arkansas$51,032

51Mississippi$46,880

The Cost of Living Index, published by the Council for Community and Economic Research (C2ER), was established in 1968, and allows for consistent place-to-place cost comparisons.

The index considers six categories of spending: groceries, housing, utilities, transportation, health care, and miscellaneous.

After adjusting for COLI, the top three states by median income are the District of Columbia (DC) (technically a district), Hawaii, and Massachusetts.

In DC, federal government agencies are the biggest employers. Many of them offer high-paying jobs that require higher education and specialized skills. DC, like Hawaii, also has a relatively higher cost of living, which may push up the average salary.

In the case of Massachusetts, the state is home to many of the world’s most prestigious universities and research institutions, as well as high-earning sectors like healthcare and tech.

See More U.S. Maps From Visual Capitalist

If you enjoyed this post, be sure to check out Mapped: The Income Needed to Live Comfortably in Every U.S. State

The post Mapped: Median Income by State in 2024 appeared first on Visual Capitalist.

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