Maryland may have a relatively low median home value compared to many other places in the United States, but the Old Line State has the highest median household income in the country, making it the richest state in America for 2022. Its wealth is largely due to its proximity to Washington, D.C., where many of the state’s residents work. That said, Maryland is home to the National Security Agency and other government agencies, like the National Institutes of Health, as well as the world’s largest hotel company: Marriott International. It's also home to two of the richest cities in the U.S. this year.
As if the number-one placeholder isn’t enough of a surprise, some of the other states that made the list will likely shock you. While you might have thought New York would have, at the very least, been within the top five, it didn’t even make the list—but Virginia did. Of course, if you've brushed up on the richest cities in America and the richest towns in the U.S., then you’re aware that, while seemingly humble and southern, Virginia is home to a handful of the richest places in the country, not to mention the number-one high school in the nation (Thomas Jefferson High School for Science and Technology).
Another surprising placeholder on the list of richest U.S. states? New Hampshire. Many people might assume the state, which is one of the least populous states in the country and is known for having the shortest ocean coastline of any U.S. coastal state, would be far from the top of the list. However, it's within the top 10.
Keep reading to learn more about the richest states in America, courtesy of data compiled by the U.S. Census Bureau as part of its 2019 five-year American Community Survey.
1
Maryland
Median Household Income: $86,738
As of 2020, Maryland boasted the second highest number of millionaires per capita, according to Statista. With a population of just more than 6 million, the mid-Atlantic state is the 18th most populous state. Marriott International, based in Bethesda, is the largest employer in the state, according to Zippia. Zillow estimates the median home value in Maryland to be $384,928.
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2
Massachusetts
Median Household Income: $85,843
With nearly 7 million people, Massachusetts boasts the highest number of residents per capita with bachelor's degrees, according to the U.S. Census Bureau. In addition to education, financial services, health care, and technology are the Bay State's top industries. Zillow estimates the median home value in Massachusetts to be $550,099.
3
New Jersey
Median Household Income: $85,751
The 11th most populous state, with a population of around 9 million, is home to many leading firms in the biotech sector like Merck and Johnson & Johnson. Its proximity to New York City means plenty of Garden State millionaires commute to financial jobs in the Big Apple. Despite being one of the top three richest states, New Jersey's median home value is notably lower than other less wealthy states on this list, ringing in at $435,668, according to Zillow.
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4
Hawaii
Median Household Income: $83,102
Hawaii may be best known for its beaches and laid-back surfer mentality, but living in the Aloha State costs a pretty penny. The median home value in Hawaii is a whopping $828,002, according to Zillow. Tourism and defense are the major industries in the island state.
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5
California
Median Household Income: $80,440
The Golden State boasts the largest economy in the U.S., with a gross state product of about $3 trillion. And with roughly 40 million residents, it's also the most populous state in the country. The largest economic sectors in California are agriculture, media, tourism, and technology. It costs a lot to live in the state with the fifth longest ocean coastline (behind Alaska, Florida, Louisiana, and Maine): Zillow estimates the median home value to be $745,200.
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6
Connecticut
Median Household Income: $78,833
The Constitution State is home to one of the 20 richest towns in America (Darien) as well as one of the top 25 richest cities (Westport is ranked number five). Additionally Connecticut boasts the third highest ratio of millionaire households per capita, according to Statista. The largest employer in the New England state is Glencore, according to Zippia.
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7
Washington
Median Household Income: $78,687
With major companies like Amazon calling the Evergreen State home, incomes have risen, and so has the cost of living. Washington is home to one of the most expensive houses in the world, and Zillow estimates the median home value there to be $582,732, up 36 percent from 2018.
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8
New Hampshire
Median Household Income: $77,933
The Granite State's 1.4 million people don't pay state income or capital gains taxes. The cost of living is low relative to the other top 10 richest states; Zillow estimates the median home value to be $405,600.
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9
Colorado
Median Household Income: $77,127
While Colorado attracts many people with its great outdoors, Centennial State residents are willing to drop a pretty penny on their homes. According to Zillow, the median home value is teetering around $545,794. Although Colorado's median household income is low compared to many of the other states on this list, the state is home to Douglas County, one of the country's richest counties, with a median household income of $122,867—just more than 59 percent higher than the state's median.
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10
Virginia
Median Household Income: $76,456
Although the cost of living is low relative to others on this list (Zillow estimates the median home value in Virginia to be $353,130), some of the richest counties in the U.S.—Loudoun County, Fairfax County, and Arlington County—are in the Old Dominion. Those counties are just outside Washington, D.C., which attracts highly educated Americans.
