America’s Most and Least ‘Successful’ States

Have you ever wondered where the richest people in America reside? How would your home state rate if it was measured by the level of financial success among its residents?

Now you can find out, thanks to a recent GOBankingRates report on the most and least successful states.

The report ranks states based on the following factors:

• Average income of the top 1 percent
• Average income of the bottom 99 percent
• Poverty rate
• Percentage of population in the upper, middle and lower classes
• Number of millionaires and billionaires
• Ratio of millionaires to total households

Based on those economic factors, Connecticut — home to nearly 101,000 millionaire households, 12 billionaires and a relatively low poverty rate of 10.8 percent — earned high marks and the top spot on GOBankingRates’ list of the most successful states in America.

The report noted that not only is the average income of the top 1 percent in Connecticut the highest in the nation — $2.4 million — but the other 99 percent who live there enjoy an average income — $56,445 — that’s “higher than incomes in most states.”

Although living in one of our nation’s most financially successful states will not automatically make you rich or successful, GOBankingRates says “living in a state that offers families a richer life and boasts a fair share of people who are thriving financially might help you achieve the financial success you’ve always wanted.”

These are the top 10 most successful states in America based on the GOBankingRates’ report.

1. Connecticut
2. Maryland
3. New Jersey
4. Massachusetts
5. New Hampshire
6. Washington, D.C.
7. California
8. Alaska
9. North Dakota
10. Virginia

In stark contrast to the success and wealth enjoyed by many residents in America’s most successful states, the following states earned the dubious distinction of being the five least successful states in the U.S.:

1. Mississippi
2. New Mexico
3. West Virginia
4. Arkansas
5. Kentucky

Click here to see the report in its entirety, including specific information about each state.

Where did your state rank? Share your comments below or on Facebook.