Here's the salary you need to be in the top 1% in NY, NJ, CT

NEW YORK - What does it take to be among the top 1% in NY, NJ and CT?

Personal finance site GoBankingRates used IRS data from 2021, the most recent available tax year data, and adjusted it to reflect 2024 dollar values in order to find the top 1% income threshold for each state.

Here's where New York, New Jersey and Connecticut ranked.

New York

• New York ranked 6th overall, where you need to earn $999,747 to be a part of the top 1%.

New Jersey

• New Jersey ranked 5th overall, where you need to earn $1,010,101 to be a part of the top 1%.

Connecticut

• Connecticut ranked 1st overall, where you need to earn $1,192,947 to be a part of the top 1%.

"Somewhat surprisingly, the Northeast beats out the West Coast for the highest incomes needed to crack the top 1%," the website said.

What is the ‘top 1%?’

The "top 1%" is a term that generally refers to the wealthiest people in a population based on income or net worth.

The data from the Economic Policy Institute (EPI) shows that annual wages for the top 1% in 2021 in the U.S. reached $819,324 on average. Those considered to be in the top 0.1% earned an average of $3,312,693 annually. 

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Here's how much money it takes to be 'rich' in NY, NJ, CT for 2024

A recent study by GOBankingRates examined the income thresholds required to be considered wealthy in every state, including NY, NJ and CT. Here's the full list.

Meanwhile, those in the bottom 90% earned an average income of $36,571 annually, EPI data showed.

Income needed to be in top 1% in all 50 US states

1. Connecticut: $1,192,947
2. Massachusetts: $1,152,992
3. California: $1,072,248
4. Washington: $1,024,599
5. New Jersey: $1,010,101
6. New York: $999,747
7. Colorado: $896,273
8. Florida: $882,302
9. Wyoming: $872,896
10. New Hampshire: $839,742
11. Utah: $811,929
12. Illinois: $811,004
13. Nevada: $804,627
14. Texas: $789,003
15. Virginia: $787,471
16. Maryland: $767,688 
17. Minnesota: $755,880
18. South Dakota: $752,849
19. Montana: $741,182
20. Idaho: $728,859
21. Georgia: $725,284
22. Pennsylvania: $720,778
23. Arizona: $713,264
24. North Dakota: $708,284
25. Oregon: $707,296
26. Tennessee: $702,934
27. North Carolina: $688,506
28. Kansas: $674,225
29. Rhode Island: $673,902
30. Nebraska: $651,641
31. Vermont: $645,255
32. Alaska: $642,707
33. Delaware: $640,330
34. South Carolina: $632,805
35. Wisconsin: $631,993
36. Hawaii: $631,383
37. Michigan: $625,158
38. Missouri: $610,837
39. Maine: $609,173
40. Louisiana: $608,143
41. Ohio: $601,685
42. Iowa: $591,921
43. Alabama: $577,017
44. Indiana: $572,403
45. Oklahoma: $559,981
46. Arkansas: $550,469
47. Kentucky: $532,013
48. New Mexico: $493,013
49. Mississippi: $456,309
50. West Virginia: $435,302 

Kelly Hayes, with the FOX Digital team, helped contribute to this report.