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WalletHub recently unveiled its annual list of States Where People Have the Highest Income. The 2026 ranking, once again, put New Jersey toward the top. 

To determine its findings, the personal finance resource compared the 50 states and the District of Columbia across three key metrics: 

• Average annual income of the top 5% 
• Average for the bottom 20% 
• Median for all of each state’s residents 

The Garden State fell one notch this year to No. 3 on the list, which was released June 2. 

New Jerseyans’ income breakdown: 

• Top 5% average annual income: $527,376 – fifth highest in the country
• Median income: $125,766 – sixth highest in the country
• Bottom 20% average annual income: $17,418 – 19th highest in the country

WalletHub noted about the Garden State’s results, “Unfortunately, people in the bottom 20% of the population are only doing slightly better than average.” 

Top earners

The median yearly income in the U.S. is about $83,700, WalletHub reported. Landing in front of New Jersey were Virginia (No. 1) and New York (No. 2). 

“The highest-earning 10% of individuals in the United States earn over 12 times more than those in the lowest-earning 10%, based on the latest Census data,” noted WalletHub analyst Chip Lupo. “By measuring the income of various percentiles against a state’s median income, we can better identify where income disparities are more prevalent, which could help us better understand why residents of certain states struggle more to make ends meet.” 

The states with the lowest incomes are West Virginia (No. 51), New Mexico (No. 50) and Mississippi (No. 49). 

WalletHub analyzed data as of May 5, 2026, from the U.S. Census Bureau and Council for Community and Economic Research. 

Scroll over the map for each state’s ranking and see details here:

Evening the score 

WalletHub asked several experts to provide further insight on income inequality. One question in particular asked how public policy officials can help reduce financial disparities. 

Tyler Schipper, associate professor of economics at the University of St. Thomas in Minnesota, pointed to a specific solution. 

“To address poverty, public policy should make large investments in safe and affordable housing that is integrated into communities across the income spectrum,” Schipper said. “Concentrating low-income housing in neighborhoods with underperforming schools and few employment opportunities is ineffective.” 

Gov. Mikie Sherrill has made affordability a top priority for the new administration. In April, the governor signed an executive order aimed at accelerating housing production in the state. 

“We can’t make New Jersey more affordable without making housing more affordable,” she said at the time.