Here’s How Much Money The Top 1% Make In Michigan

Michigan has some very wealthy people that call the state home.

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Some of the wealthiest among them are called the top 1%.

According to the Congressional Budget Office, you need an annual income of at least $652,657 to be in the top 1% of wage earners in the U.S.

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

But how much do you need to make to be the Top 1% in Michigan?

Let's take a look and find out.

Here's How Much Money The Top 1% Make In Michigan

A new study by BankingRates.com took a look at all 50 states to find out how much your salary would need to be among the top 1% of earners.

They 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.

If you dream of being among the top 1% in Michigan you need to have a year salary of $625,158.

That's a lot of money, but not as much as some other states.

How Much You Need To Earn To Be In The Top 1% In Each State

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

I'm curious to know what these 1% do for a living to make so much money.