Study: How Successful Georgia Residents Are
Wednesday, August 31st, 2016
Where do all the successful people live? Are some states home to more of the nation's most successful people than others?
To answer these questions, GOBankingRates surveyed all 50 states and the District of Columbia and ranked them by the following seven factors:
-
the average income of the top 1 percent
-
the average income of the bottom 99 percent
-
the states' poverty rates
-
the percentage of the population in the upper, middle and lower class
-
the number of millionaire households
-
the ratio of millionaires to total households
-
and the number of billionaires
10 Most Successful States |
10 Least Successful States |
|
1. Connecticut |
1. Mississippi |
|
2. Maryland |
2. New Mexico |
|
3. New Jersey |
3. West Virginia |
|
4. Massachusetts |
4. Arkansas |
|
5. New Hampshire |
5. Kentucky |
|
6. District of Columbia |
6. Alabama |
|
7. California |
7. South Carolina |
|
8. Alaska |
8. Louisiana |
|
9. North Dakota |
9. Tennessee |
|
10. Virginia |
10. Arizona |
Don't see your state? See the entire ranking here:
https://www.gobankingrates.com/personal-finance/most-least-successful-states/
Stand-out Study Insights:
-
7 out of the 10 most successful places are located along the east coast
-
Despite Mississippi having more millionaire households than 16 other states, it takes last place on our list because it has the largest percentage of lower class residents in the country (36%)
-
West Virginia is the only state where the average top 1 percent income is below 500k
-
New Mexico has the greatest income inequality between the top and bottom income levels
-
North Dakota has the lowest percentage of lower class residents in the nation (19%)
-
New Hampshire has the lowest poverty rate in the U.S.
-
The average income of the top 1 percent in Connecticut is the highest in the nation, at $2.4 million
"While it would be incorrect to assume that living in a certain state could determine your success, the study did find that certain areas in the country definitely house more financially successful citizens than others," said Kristen Bonner, lead researcher on the GOBankingRates study. "That being said, living in an area among those who are thriving financially might just offer the push you need to craft a successful financial future for yourself."