When it comes to making money, I think a lot of people around the country would be okay with being comfortable. Sure, if you or I won $200 million playing the lottery, we'd definitely take it but I honestly think most people just want to have a good quality of life. They want to be able to pay their bills, put some into their savings, and make enough to not really worry too much about when they get paid next.

Then...there are the people on the other side of the coin. For some, obtaining a lot of money is important. It's something you can be proud of, it can be a sign of intelligence, it can show you work hard, and you're dedicated to the job. There's a certain freedom and power that comes with being in the top 1% of earners.

How much money do you need to make to be considered in the top 1% in Iowa? It might not be nearly as much as you'd think.

Unsplash - Alexander Mils
Unsplash - Alexander Mils

Iowa's Top 1% Makes How Much?

Location is a major factor in deciding how much money is enough to be considered in the top 1%. According to a Forbes study from June of 2023, Iowa's top 1% make $441,223 per year. This would put Iowa as the 9th lowest in the United States.

I checked out another study done during the summer of 2023 just to see if the numbers match up or if they were at least close. According to Smart Asset, Iowa's top 1% makes roughly $483,985 per year, which would still place Iowa as the 9th lowest in the country.

According to Forbes, the 10 states with the lowest 1% income are:

  • Vermont - $451,765
  • Iowa - $441,223
  • Indiana - $437,567
  • Maine - $434,306
  • Alabama - $432,330
  • Kentucky - $412,836
  • Arkansas - $441,633
  • New Mexico - $384,427
  • Mississippi - $361,462
  • West Virginia $350,212

Who Makes The Most?

It's pretty clear that job opportunities vary in different parts of the country as well as the cost of living. The top 4 states with the highest 1% income are all on the east coast. New Jersey at number 4, followed by New York, Massachusetts, and Connecticut at number 1 with a whopping $896,490  per year.

The other states that make up the rest of the top 10 are California at number 5, followed by Washington, Colorado, Illinois, Florida, and Texas at number 10.

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