Most people think the only way to make more money is to work harder, get promoted, or find a new job.
But according to a new study, sometimes all you have to do is cross a state line.
Researchers recently ranked states based on income levels by looking at three key factors:
- Average salaries of the top 5% of earners
- Average salaries of the bottom 20% of earners
- Median household income
The results reveal which states are putting the most money in people's pockets.
The Top 10 States for Income
- Virginia
- New York
- New Jersey
- Washington
- Connecticut
- Utah
- Colorado
- Minnesota
- Illinois
- Massachusetts
Some of the other big states landed just outside the Top 10. Texas came in at #11, California was #13, and Florida finished #15.
One interesting surprise?
Utah landed at number six.
Maybe all that money people aren't spending on fancy coffee is adding up.
The States With The Lowest Income Levels
At the other end of the list were:
- West Virginia
- New Mexico
- Mississippi
- Louisiana
- Maine
- Rhode Island
- Alabama
- Vermont
- Kentucky
- Alaska
Where Does Michigan Fit In?
Michigan didn't crack the Top 10, but it also avoided the bottom of the rankings.
For many Michiganders, quality of life still plays a huge role in deciding where to live.
Sure, you might earn a little more in New York or New Jersey, but you'll also pay more for housing, taxes, and everyday expenses.
Besides, those states don't have Great Lakes sunsets, Up North weekends, Tigers baseball, or Mackinac fudge.
The Big Question
If someone offered you a 20% raise but you had to leave Michigan, would you take it?
Or would you stay right here in the Mitten State?
That's a tough choice... especially if the move meant giving up summer weekends at the lake.
