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

FAQs

What percentage of American households have incomes of $200 000 or more? ›

More than 1 in 5 Americans were upper income in 2022, compared to only 14% in 1971. In 2020, according to Pew Research Center analysis, the median for upper income households was around $220,000 and the median for middle income households was slightly above $90,000.

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.

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

An income of $200,000 a year puts you in a good position to afford a home priced at $600,000. But whether you should aim higher or lower than this in your house hunt will depend on your debt, how much you've saved for a down payment, and current interest rates, among other factors.

Annual income often comes in rounded numbers, as seen in the spikes sticking out at each $10,000. More round numbers at the $150,000 and $200,000 marks. About 2% of employed people made $300,000 or more in total income.

You'll need to earn more than half a million annually to be considered among the highest earning residents in 11 states and Washington, D.C. "This comes down to cost of living," Murray said.

Upper Class Is Relative To The Median

In 2022, the national median household income is around $75,000, up from $68,000 in 2021. Therefore, as a whole, the typical upper-class household in the new decade has a median household income of over $130,000. $130,000 is a good household income amount.

It's not a great income (like the top 10% or higher), but it's also better than the median income. It is a good income. If you accept my definition, then a good household income would be $130,000 per year (in 2022) and a good individual income would be $82,000 per year (in 2022).

If you're earning $200,000 per year, you've reached elite status in this country. That's nearly triple the median income of American workers, which per the latest U.S. Census data is $70,784.

Is 100k a good salary in the US? ›

For most individuals and small families, the answer to “Is $100,000 a good salary?” is a resounding “yes.” Cost of living and family size can affect how far $100,000 will go, but generally speaking, you can live comfortably on $100,000 a year. Are you hoping to make the most of your salary?

$250,000 is the 75th percentile. Salaries above this are outliers. $291,500 is the 90th percentile.

To be considered middle class in Texas, you'll need to earn between $44,865 and $133,926, according to 2023 data from SmartAsset. In order to move into the upper class, you'll likely need to earn more than $133,926.

At $200,000 a year, you are considered upper middle class in expensive coastal cities and rich in lower cost areas of the country. After $19,000 in retirement contributions to your 401(k), you are left with $181,000 in gross income, leaving you with roughly $126,700 in after tax income using a 30% effective tax rate.

How much do you need to earn to be in the top 5% income bracket? For those in the top 5%, the figure rises even more. According to the same research, those in the top 5% earned an average of $335,891 in 2021. This is an increase of around $19,000 from the previous year.

Only 7% of American households earn $250,000 or more. For those high-income earners, however, certain cities will offer them the most bang for their buck — and others will offer far less. The real purchasing power of a $250,000 salary depends on a city's overall economy, taxes and cost of living.

Over one-third of American families earn $100,000 or more

The U.S. Census Bureau found that 37.1% of U.S. households earned at least $100,000 in 2022. Here's a more detailed breakdown of six-figure income brackets and the percentage of households in each one: $100,000 to $149,999: 16.9% $150,000 to $199,999: 8.7%