Which part of the country do you think the highest earners live? Silicon Valley and New York City may come to mind, but it turns out, Massachusetts is actually the highest-earning state.
- According to the Bureau of Labor Statistics, the median income in Massachusetts as of 2023 is about $60,690.
- While workers in Washington, D.C. have a higher annual median income of $84,450, Massachusetts tops the list for states where workers make the highest median annual wage.
- The entire Northeast is a high-earning region, as its home to five of the 10 states on the list.
- Wages in these states may seem like much more than other states, but the cost of living is typically higher in these places.
- It turns out that Hawaii is the only state where the average annual cost of living is higher than Massachusetts, research shows.
- On the flip side, Mississippi is the state with the lowest median annual income at $37,500.
The Top 10 States with the Highest Median Annual Wages
- Massachusetts $60,690
- Washington $59,920
- New York $56,840
- Alaska $56,140
- Connecticut $56,130
- Maryland $55,810
- New Jersey $54,860
- Colorado $54,050
- California $54,030
- Rhode Island $50,970
Source: CNBC