COLORADO NEWS

Colorado incomes among highest of states in 2024

Jun 4, 2024, 10:19 AM | Updated: Jun 5, 2024, 12:58 pm

Living in Colorado may have gotten more expensive over the past few years, but salaries are also moving upward. According to the Federal Reserve Economic Data, the average American income is $74,600.  In Colorado, that number is quite a big higher.

WalletHub looked at various income data and found that Colorado is one of the top 10 states for highest incomes. Colorado’s median income is $97,031.  The data looked at the top 5% of income in each state, the median and the average bottom 20%.  Based on that data, Colorado came in #9 overall for top incomes.

Top 10 High Income States:

  1. Virginia
  2. New Jersey
  3. New York
  4. Connecticut
  5. Washington
  6. Utah
  7. Illinois
  8. Minnesota
  9. Colorado
  10. Massachusetts

The state with the lowest income was West Virginia.  The top 5% made just over $300,000 – compared to Colorado’s top 5% which made $456,603, the median income in WV was $52,000 while the lowest 20% of incomes in WV was $12,000 a year.

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