Households earning $200,000 or more are flocking to these 10 states—5 are in the South (2024)

FAQs

Households earning $200,000 or more are flocking to these 10 states—5 are in the South? ›

Idaho's low taxes, strong employment and GDP growth, and regulatory environment have pulled in both entrepreneurs and leaders in agriculture, manufacturing, and technology. Texas had the second-highest total net migration with around 9,000, followed by North Carolina at over 5,400.

Idaho's low taxes, strong employment and GDP growth, and regulatory environment have pulled in both entrepreneurs and leaders in agriculture, manufacturing, and technology. Texas had the second-highest total net migration with around 9,000, followed by North Carolina at over 5,400.

Sure, as a single person 200K is doing well. But, 200K with a family of 4 (2 kids and a wife) is definately scraping by on the penninsula or SF. The only way that's not scraping by is if you bought your house over 20 years ago (or during 2010-2012 housing slump) OR you got yourself a Rent controlled apartment.

One half, 49.98%, of all income in the US was earned by households with an income over $100,000, the top twenty percent. Over one quarter, 28.5%, of all income was earned by the top 8%, those households earning more than $150,000 a year. The top 3.65%, with incomes over $200,000, earned 17.5%.

Family Living and Employment Opportunities

The state has seen a decrease in overall crime rates, and median home prices are affordable, ranging from $150,000 to $350,000 in most areas. In April 2022, Idaho's unemployment rate was nearly one percent lower than the national average, indicating promising job prospects.

People are moving to Florida in record numbers, and not just retirees. Young people are being lured by the weather, a lack of state income tax, and more job opportunities. But inflation, insurance, and healthcare can make it costly to live in the state.

In 2022, about 14.88 million households in the United States had an income of 200,000 U.S. dollars or more a year.

200K Salary in Texas. $175,007 is the 75th percentile. Salaries above this are outliers.

How much salary do I need to live comfortably in California? ›

The data used in the study analyzed the cost of living in each city as of 2024. In some California cities, like Bakersfield and Fresno, a single person would need to make at least $89,190 to “live comfortably,” the data shows.

Here, a single person needs $110,781 annually or $53.26 in hourly wages to be comfortable, according to the data. For a family of two working adults with two children, a salary of $276,557 is needed. Anaheim and Long Beach also made the list, tying for #14.

Overall, SmartAsset found that to live comfortably in any major city, you need to make about $96,500 annually, up immensely from the nearly $68,500 it estimated last year. A family of four would need to make much more at $235,000 to avoid living paycheck to paycheck. You can view SmartAsset's full list here.

A $200,000 household income is more than most people earn across the U.S. In fact, just 12% of U.S. households earn $200,000 or more annually, according to Census Bureau data.

If you had an income of $200,000, that would put you in the top 12% of household incomes or the top 5% of individual incomes in 2022. Though I prefer household income over individual income, no matter how you cut it, $200k a year puts you on the higher end of the income spectrum.

Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.

One of the main drivers of population growth in Idaho is the state's strong economy. Idaho has a diverse economy that includes industries such as agriculture, manufacturing, and technology. The state's low unemployment rate and strong job growth have attracted many people to move to Idaho in search of work.

The most moved-to states in 2023 included South Carolina, North Carolina, Tennessee, Arizona and Florida, with cities like Tucson, Arizona; Charleston, South Carolina; Charlotte, North Carolina; Nashville, Tennessee; and Raleigh, North Carolina being particularly attractive because of their low cost of living, ...