Housing market analysis
Realtor Jay Nix joined Fox 5 DC for a housing market analysis.
WASHINGTON – Maryland and Virginia are among the top 10 states for the highest household income in the U.S., a new study shows.
The data comes from QR Code Generator, which analyzed U.S. Census data to estimate household incomes based on annual earnings in 2022. Also factoring into the rankings are the median household incomes for each state, and their percentage earning brackets.
According to their findings, Maryland placed #5 with an average $125,876 household income and Virginia placed #10 with an average $119,058 per household.
In all, New Jersey topped the rankings with an average household income of $134,191 per year, and a median income of $96,346.
The list of the Top 10 highest average household incomes in the U.S. includes:
- New Jersey: $134,191, 3.5 million households
- Massachusetts: $133,823, 2.79 million households
- California: $131,504, 13.55 million households
- Connecticut: $128,160, 1.4 million households
- Maryland: $125,876, 2.37 million households
- Washington: $125,847, 3 million households
- Hawaii: $120,969, 494,827 households
- New Hampshire: $119,452, 557,220 households
- New York: $119,130, 7.77 million households
- Virginia: $119,058, 3.38 million households
“This study offers valuable insight into the estimated average earnings for households across America in recent years, alongside which income brackets are the most representative of the population in each state,” said QR Code Generator CEO Marc Porcar.
“It would be interesting to see whether these rankings change in subsequent years and to compare results across the past five or ten years to see which states have had the highest growth in average household earnings,” Porcar added.
Porcar suggests that high household incomes — like those found in the Top 3 spots of New Jersey, Massachusetts, and California — likely come from the states’ comparatively high cost of living.
They are each known for having prestigious universities, which is the case for Washington, as well.