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The Top 10 Richest States in America

National Money, Travel
The Top 10 Richest States in America

Which states in the entire United States are the wealthiest? In terms of median
income, here is a list of the top 10 richest states in America.

10. California – $57,287


California is a state in the western part of the United States mainland. It is the
most populous state in the entire country and the third largest in terms of area. It is
responsible for 13.1 percent of the country’s gross domestic product. In dollar terms,
it has a larger GDP than Canada, Russia, Australia, Spain and India. The five major
industries include trade and transportation, government, professional and business
services, education and health, and hospitality and leisure. It is highly dependent on
international commerce, which accounts for 25 percent of its economy. The median
income in California is $57,287.

9. Delaware – $58,814


Delaware is a state located in the Mid-Atlantic region of the country. It is the second
smallest state and the sixth least populous. It is known as “The First State” because
it was the first one to ratify the Constitution. It is popular because of its reputation
as a corporate haven because of its extremely business-friendly corporation law.
More than half of all publicly traded companies in the country are incorporated in the
state, including 63 percent of the 500 biggest firms. The franchise taxes earned from
these corporations account for around 20 percent of the state’s revenue. Delaware
residents earn a median income of $58,814.

8. Hawaii – $61,821


Hawaii is the only state in the United States that is made up entirely of islands. It
was also the last state to join the Union, which it did in 1959. It has the fourth longest
coastline in the country. It has eight main islands and it is ethnologically part of the
sub-region of Polynesia called Oceania. It is the only state with an Asian plurality. Its
main exports are food and apparel. It is highly dependent on the U.S. military, whose
$12.2 billion spending accounts for 18 percent of the state’s entire total. The median
income in Hawaii is $61,821.

7. Virginia – $61,882


Virginia is a state located in the South Atlantic region of the United States. It
is popularly known as Old Dominion, though it is also called the “Mother of
Presidents” because it is the birth state of eight American presidents. The state’s
General Assembly is considered to be the oldest legislature in the entire Western
hemisphere. It has one of the lowest unemployment rates in the country. It also has
the most counties in the list of 100 wealthiest in the entire country. It boasts of the
highest concentration of technology workers of any state. It is also the recipient of
the fourth largest venture capital funding in the country. The median income in the
state is $61,882.

6. New Hampshire – $62,647


New Hampshire is a state in the northeast part of the country in a region called New
England. It is the fifth smallest state and the ninth least populous in the country. It
does not charge any broad sales or income tax, though it does have a statewide
property tax. The state’s main outputs include agricultural products, like dairy items,
nursery stock, cattle, eggs and apples, and industrial outputs, like electric equipment,
machinery, rubber, plastic products and tourism. The median income in New
Hampshire is $62,647.

5. Massachusetts – $62,859


Massachusetts is located in the New England region in the northeastern portion
of the United States. It is the third most densely populated state and has the
sixth highest GDP per capita. It has played a major role in historical, cultural and
commercial events in the country. Though it was originally dependent on the fishing,
agriculture and trade sectors, the state became a center of manufacturing during the
Industrial Revolution. It is also a leader in higher education, health care, financial
services and high technology. The median income in the state is $62,859.

4. Connecticut – $65,753


Connecticut is the southernmost state of the New England region. It is the fourth
most densely populated state in the country. Also called the Constitution State, it
played a lead role in the development of the federal government. It has a strong
maritime tradition because of its access to the Connecticut and Thames Rivers and
the ports along Long Island Sound. It also has a strong financial services industry.
The state, however, has a huge income gap between the rich and the poor, with
some of its cities rated as the poorest and most dangerous in the entire country. The
median income in the state is $65,753.

3. New Jersey – $67,458


New Jersey is located in the Northeastern and Middle Atlantic regions of the United
States. It is considered as the center of the Northeast megalopolis, right between the
northeast cities of New York and Boston and the southwest centers of Philadelphia,
Baltimore and Washington, D.C. This strategic location has enabled the state to
experience a rapid rate of growth due to suburbanization. The median income in the
state is $67,458.

2. Alaska – $67,825


Alaska is in the northwest extremity of the North American continent. It was originally
part of Russia before it was sold to the United States in 1867. It is the largest state
in the country in terms of land area and also the least densely populated. Around
half of the state’s inhabitants live in the metropolitan area of Anchorage. Oil, natural
gas and fish are abundant in the area, which helps tremendously in shoring up its
economy. The median income in the state is $67,825.

1. Maryland – $70,004


Maryland is located in the Mid-Atlantic region of the United States. It is one of the
smallest states in terms of area, though it is has one of the highest populations and
is considered as one of the most densely populated. The transportation sector, the
government and the food production industry support the economy. The median
income in Maryland is $70,004.

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