{"id":25304,"date":"2025-11-01T17:40:10","date_gmt":"2025-11-01T17:40:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/25304\/"},"modified":"2025-11-01T17:40:10","modified_gmt":"2025-11-01T17:40:10","slug":"this-is-the-insane-amount-of-money-you-need-to-make-to-be-in-new-yorks-top-5","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/25304\/","title":{"rendered":"This is the insane amount of money you need to make to be in New York&#8217;s top 5%"},"content":{"rendered":"<p>It pays to be rich in the Empire State. <\/p>\n<p>A new study has revealed that New York households need to bring in $619,178 annually in order to be among the state\u2019s top 5% of earners. <\/p>\n<p><a href=\"https:\/\/www.gobankingrates.com\/money\/wealth\/how-much-you-need-to-be-top-5-percent-in-every-state\/\" target=\"_blank\" rel=\"noopener nofollow\">GOBankingRates<\/a> uncovered the eye-watering figure after examining a range of data sources, including household median income, lower limit of household income, and average household income.<\/p>\n<p>The company also revealed that the current median annual household income in New York is $84,578, meaning you\u2019d need to earn 7.3 times that to make it into the top 5%. <\/p>\n<p><img style=\"aspect-ratio:1.56574924;display:block\" loading=\"lazy\" decoding=\"async\" data-modal-image=\"37548072\" width=\"924\" height=\"590\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/11\/aerial-view-midtown-manhattan-ny-114540092.jpg\" alt=\"Aerial view of Central Park and the Manhattan skyline.\" class=\"wp-image-37548072\"  \/>A new study has revealed that New York households need to bring in $619,178 annually in order to be among the state\u2019s top 5% of earners.  Tierney \u2013 stock.adobe.com<\/p>\n<p>If you think the $619,178 figure is astronomical, it might be best to stop reading now. <\/p>\n<p>GOBankingRates analyzed the income needed to be in the top 5% of each state across America \u2014 and New York didn\u2019t even have the highest sum. <\/p>\n<p>In Connecticut, households need to bring in an eye-watering $637,673 per year to be considered among the top 5% \u2014 the highest number in the country <\/p>\n<p>California had the second-highest sum at $619,938, while Massachusetts came in third spot (\u00a0$619,385). <\/p>\n<p>New York was in fourth place, while New Jersey rounded out the top 5 with $616,334 needed to make it into the top 5%.<\/p>\n<p>With Connecticut, New York, and New Jersey making up three of the top five spots, it proves the tri-state area is still a nexus of money and power in the US. <\/p>\n<p><img style=\"aspect-ratio:1.50367107;display:block\" loading=\"lazy\" decoding=\"async\" data-modal-image=\"36924362\" width=\"887\" height=\"590\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/11\/106543342.jpg\" alt=\"Man with wallet paying for something. \" class=\"wp-image-36924362\"  \/>GOBankingRates analyzed the income needed to be in the top 5% of each state across America \u2014 and New York didn\u2019t even have the highest sum.  Nopphon \u2013 stock.adobe.com<\/p>\n<p>Meanwhile, GOBankingRates determined that West Virginia had the lowest annual earnings needed to make it into that state\u2019s top 5%. <\/p>\n<p>There, you need $330,270, per the study, about 5.7 times more than the median household income of $57,917. <\/p>\n<p>Find the<a href=\"https:\/\/www.gobankingrates.com\/money\/wealth\/how-much-you-need-to-be-top-5-percent-in-every-state\/\" target=\"_blank\" rel=\"noopener nofollow\"> full study here.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"It pays to be rich in the Empire State. A new study has revealed that New York households&hellip;\n","protected":false},"author":2,"featured_media":25305,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[2222,16170,232,237,9,11,10],"class_list":{"0":"post-25304","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-connecticut","9":"tag-income","10":"tag-lifestyle","11":"tag-money","12":"tag-new-york","13":"tag-new-york-headlines","14":"tag-new-york-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/25304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=25304"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/25304\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/25305"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=25304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=25304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=25304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}