Wallethub Ranks Virginia No. 1 and West Virginia Last in State Income Study

1 articles · Updated · Wealth Management · Jul 17

Virginia topped Wallethub’s latest state income ranking, while West Virginia finished last in a study that adjusted for income disparity rather than relying on median income alone.
Three metrics drove the ranking: average annual income for the top 5%, average for the bottom 20%, and the statewide median, with incomes ranging from $174,287 at the top to $50,090 at the bottom.
Virginia’s No. 1 finish came despite a wide gap—its top 5% earn $545,097 on average versus $19,671 for the bottom 20%—because both groups still rank near the top nationally.
New York placed second on the strength of the nation’s highest top-5% income, even though its bottom 20% ranked 45th; West Virginia posted bottom-five results across all three measures.
The study said the geographic spread was unusually even nationwide, even as the findings underscored how median U.S. income of about $83,700 can mask sharp inequality across states.