If you’re trying to make it in one of the world’s biggest cities, you may be facing two financial realities: those who are able to build wealth, and those who are just getting by.
In New York, the divisive nature of those two economies couldn’t be more evident. A new analysis by GoBankingRates has just revealed that to make it to the city’s top five percent, households need to bring in $619,178 annually,
In comparison, average household earners in the Big Apple are racking in just $84,578; They will need to earn over seven times that amount to make it into the top-earning households.
Making over $80,000 may sound like a promising salary for some, but the paycheck would struggle to keep up with New Yorkers’ cost of living. For example, an average studio is estimated to be $3,795 a month, according to data from Zumper. That is $45,540 a year, meaning rent alone would take up roughly 54% of gross income—well above the standard 30% affordability threshold.
West Virginia households have the lowest income requirements to make its top 5%
Although New York required its top earners to make over seven times the average wage, it’s not the highest pay sum on the list.
In Connecticut, households are expected to bring in $637,673 to make it to the top five percent. In comparison, the average median household income is around $93,760, 580% higher (or nearly seven times more) than what it takes to make it to the top five percent.
Following that were California ($619,938), Massachusetts ($691,385), New York ($619,178) and New Jersey ($616,334).
West Virginia was the state with the easiest path to make it to the ultra-wealthy club, with an income requirement of $330,270. On average, the median household income is $57,917.
Unlike New York, housing costs are about 27% lower than the national average, according to data from RentCafe, though wages trail behind the national average.
The growing wealth gap: 20% of households control over 70% of U.S. wealth
Yet even as some states have a lower bar for the ultra-wealthy, wealth itself is becoming more concentrated, leaving most Americans further behind.
The top one percent holds nearly a quarter of the nation’s wealth—or nearly three times as much as what the entire middle class holds. Altogether, the top 20% of households control over 70% of U.S. wealth, leaving the bottom with less than 30%.
Right now, hitting the top one percent in America means earning an adjusted gross income of at least $561,523. The threshold drops to $169,466 for the top five percent and $99,971 for the top 10 percent. For context, the average U.S. household brought in about $83,730 in 2024—less than 15% of what it takes to reach the very top.
Are you someone in the top five percent who lives in one of the states listed? Fortune wants to hear from you. Email: jessica.coacci@fortune.com