What Were the Top Ten Richest States in the U.S. in 2014?


Quick Answer

The top 10 richest states in the U.S. in 2014 were the District of Columbia, New Jersey, Connecticut, Maryland, Massachusetts, Alaska, Minnesota, Delaware, California and Virginia, based on an analysis of median household income, GDP per capita and federal tax dollars paid per capita. In this ranking of state wealth, household income was weighed doubly, while GDP and taxes only received half weight.

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What Were the Top Ten Richest States in the U.S. in 2014?
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Full Answer

Multiple states were tied in the ranking of 10 richest U.S. states in 2014. The District of Columbia and New Jersey both tied for first place, while Connecticut and Maryland and California and Virginia tied for third and ninth place, respectively.

The District of Columbia allotted first place in the ranking and was indexed number one in both GDP per capita rank and taxes paid per capita rank, while the state of Maryland was ranked first in median income. The District of Columbia was also ranked first in highest percentage of households earning more than $200,000 USD a year.

The information evaluated to determine state rankings were adjusted using demographic information supplied by the U.S. Bureau of Economic Analysis, the U.S. Census Bureau and the U.S. Internal Revenue Service. Not accounting for these demographic adjustments, the top 10 richest U.S. states in 2014 were California, Texas, New York, Illinois, Florida, New Jersey, Pennsylvania, Ohio, Virginia and Massachusetts.

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