Richest State in USA – Top 10 List of Wealthiest American States
The article presents the name of the richest state in USA along with nine other names which form list of top 10 richest states in America. If you have the question: ‘What is the richest state in the US?’ then this page will serve you an answer. There is a total of 50 states in the US and each of them different income distribution. On this page, states have been ranked according to Median Household income estimated in the year 2011 by the American Community Survey. Maryland ranks first as the richest state in America in 2013 followed by the states of Alaska and New Jersey.
Note: Stats on this page are in accordance with the latest data released by US Census Bureau’s American Community Survey for 2011 which is valid for 2012 and 2013. No sooner the stats are updated by the Census Bureaus than we will update it on this page too. Source for population and income is US Census Bureau’s ACS while for GDP of individual states is US Bureau of Economic Analysis data of year 2012.
Top 10 Richest States in America and their Median Household Income
|Rank||Name of the State||Median Household Income|
Note: Median household income of District of Columbia ($61,835) is more than ninth ranked California and less than eight ranked Virginia. But it is not included in above table as it is not counted as a state as per US conventions. Source of all stats and figures in this article is US Census Bureau.
Median household income of United States of America is $52,762.
#1) Maryland – The Richest State in USA
Median Household Income: $72,419
Gross Domestic Product (GDP): $274.930 Billion
As per the latest data by the Census officials, state of Maryland is the richest state in United States of America in 2013. Covering a land area of 9,707 square miles, it is the 42nd largest state in USA in terms of land area and in terms of water area it ranks #18. It is home to Port of Baltimore which is one of the largest in the country. Its Howard county frequently finds a place in the richest counties of US and currently in the list it ranks #6. Poverty rate of Maryland is the lowest among all the states of America. Majority of its employed population is in private sector which accounts for 80% of these employed while the government sector (federal, State, county and municipal governments) employs remaining 20%. High-end occupations and good income and a vibrant income make Maryland the richest state in USA. Health care and educational sector employ significant proportion of population. The John Hopkins University is the largest private employer in this richest state. City of Hutton is recording the largest population growth on the other hand city of North Laurel is recording a negative population growth. City of Luke has the lowest crime index as per the American census of 2010.
#2) New Jersey – Second Richest State in America
Median Household Income: $71,180
GDP: $438.173 Billion
Located in the northeastern region of USA and coming in at second place, New Jersey has a second highest population density in the United States of America. Its median household income is more than Alaska. The per capita income of this state is $35,678 which is more than the national average. It has a population of 8,821,155 which ranks it #11. As per the latest stats of the US Census bureau, its unemployment rate stands at 8.7% which is equal to the national rate. The significant proportion of the population of New Jersey is employed in retail, health care, educational, construction and manufacturing sector. New Jersey has one of the most diverse economies in USA. Its Gross Sate Product was $487 Billions in the year 2010 which is more than most of the well know countries in the world.
#3) Connecticut – Third Richest State in USA
Median Household Income: $69,243
GDP: $197.202 Billion
Coming in third on this list of the richest states in USA, Connecticut is located in the New England region and is the southernmost state. In terms of total population it ranks #29 while in terms of population density, Connecticut ranks #4 in America. This rich state has a diverse economy and a large number of its working population is employed in retail mostly Walmart. In the data of 2010, it ranked fourth after Alaska. However, as per the latest data it toppled Alaska to get the third spot in 2013. Ethnically, white consists majority of residents while Blacks and Hispanic come in at second and third place respectively.
Median Household Income: $69,014
GDP: $44.732 Billion
With a median household income of $69,014, state of Alaska comes in at the third place in the list of top 10 richest states in USA. In terms of land area, it’s the largest state with an area of 570,640.51 square miles. While with a small population, it ranks #47 and thus making it the least densely populated state. This wealthiest state has an economy dependent on oil and natural gas extraction from inside the Earth. The federal Government sector generates 25% of total jobs while the petroleum sector generates 31%. Tourism, mining and agriculture are other small sector where the state government of this rich state in America generates revenues. Gold, zinc, silver, coal, crushed stone, lead, molybdenum, and sand and gravel are mostly mined in Alaska.
#5) Hawaii – One of the richest states in USA
Median Household Income: $67,116
GDP: $61.877 Billion
Made up of mostly islands, Hawaii is the most recent state to join the nation of United States. It is also the eight richest state in USA. It vast expanse of beaches, natural scenery and warm climate make it a popular destination for tourists in USA. This wealthy state in USA also has a low rate of unemployment which is less than the national rate. The tourism sector is the largest employer for the residents of Hawaii and it is also the largest contributor to the State’s Gross Product. Pineapples, agricultural seeds, and sugarcane are the major agricultural products.
Median Household Income: $65,981
GDP: $353.717 Billion
A northeastern state, Massachusetts is the fifth richest state in USA. Because of its proximity to the sea, it was landing place of early colonizers. Inhabited for centuries, it is one of the most populous state in America. Its residents are largely urban and Massachusetts is highly industrialized with a good diverse economy. The per capita income of Massachusetts is $35,051. Education, biotechnology, finance and retail are vital areas contributing to state income and generating employment.
#7) New Hampshire – One of the Wealthiest States of America
Median Household Income: $64,664
GDP: $56.735 Billion
A small population and a small land area in comparison to other states, New Hampshire is one of the richest states in USA. Tourism and high-tech sectors including agriculture are forming the backbone of New Hampshire’s economy. Vast areas of beaches in this richest state makes it a good destination for tourists. The main sources of income for farmers are dairy products, greenhouse products, apples, cattle, and eggs. In terms of energy consumption and per capita energy consumption. New Hampshire is one of those states which have it lowest.
Median Household Income: $63,302
GDP: $385.772 Billion
With its median household one of the highest, Commonwealth of Virginia is one of the richest states in America. Agriculture contributes largely to the state’s output. Livestock products bring in about two-third of agricultural revenues. Tobacco is also one of the sources of income for this rich state of America. Coal is the chief mineral of this state of USA. Virginia is also home to one of the US Naval Bases.
***District of Columbia
Median Household Income: $61,835
GDP: $92.106 Billion
District of Columbia is also known as Washington,DC and it is the capital of United Sates of America. As per the conventions, it is not regarded as a state and hence falls under the jurisdiction of United States Congress. When compared to other states, it population ranks it #50 on the list preceded by Wyoming. This richest district has a per capita income of $43,993. Being a capital, it is home to many foreign embassies and it is the headquarters of many international organizations like the International Monetary Fund (IMF). Tourism is second largest contributor to the economy of this state.
Median Household Income: $61,632
GDP: $1,751.001 Billion (Close to $2 Trillions)
The backbone of the economy of United States, California has the highest Gross Domestic Produce among all other states. GDP of this rich state is comparable to the countries of the world. With its GDP close to $2 Trillions, it is more than the countries like Canada, Australia, Spain, Mexico and South Korea. Agriculture is the backbone of Californian economy and employs a large number of people. In terms of agricultural output, it is the fifth largest goods provider in the world. Its per capita income is also one of the highest among other states. It is also home to the Silicon valley which is the largest producer of semiconductors. Also, many high-tech companies have their headquarters located in this rich state of US.
Median Household Income: $59,317
GDP: $56.11 Billion
Total number of residents in Delaware are less than a million. Low population and high-paying jobs in the region make Delaware ninth richest state in USA. Economy of Delaware is dominated by manufacturing and construction. Chemical and automotive are the major industries and employ most of the residents. The finance, insurance and real estate industry contributes more to the gross state product than any other industry. Growth in the finance and insurance sectors fuel growth in real estate of this rich state in the United States of America.
What is the richest state in the US?
Maryland is the wealthiest subdivision of the country of the United States of America.
Some Information about United States of America
The latest population estimates of this world superpower put the total number of residents to be around 311 millions. The median age is 37.2 years. The unemployment rate in this rich country is 8.7%, according to the latest survey. Of the total citizens, 0.5% are employed in the Armed Forces of America which consists of the army, navy, air force division, etc. The national median household income of USA is $52,762 while mean household income is $72,555. The American Community Survey in July, 2011 states the estimated per capita income of America at $27,915. In terms of ancestry of Americans, German ancestry is highest at 16.0% while Irish (11.6%) and Italian(5.7%) ancestry come in at second and third position respectively.