Are You in the Top 1% of Income or Net Worth?

The term “top 1%” typically refers to the top 1% wealthiest Americans, as measured by annual income or net worth. The top 1% earn many times more than the typical American. According to a SmartAsset study, you need at least $787,712 in annual income to be among the top 1% in 2024, but this varies by where you live.

Making six figures may not be within the reach of some people, but a financial advisor can help you build a financial plan for the future.

What Is a Top 1% Income?

Using IRS data from 2021 and adjusting it for inflation, SmartAsset calculated that the top 1% in the U.S. starts at $787,712. By comparison, the median household income in the U.S. was $80,610 in 2023, according to data from the Federal Reserve Bank of St. Louis.

Want to see where you fall? Try inputting your income into this calculator to see your ranking, developed by DQYDJ. The income of the top 1% is still growing. Research from EPI shows that wages from 2009-2019 grew 20.4%, while those in the bottom 90% rose at less than half that rate — only 8.7%.

EPI data shows that from 1979 to 2019, wages for the top 1% grew by 160.3%, while the bottom 90% saw just 26% growth.

EPI data, however, showed that earners in the top 10% make substantially less than the top 1%. Those making between 90th and 95th percentiles averaged almost six times less — $129,998 in 2019. Earners in between the 95th and 99th percentiles averaged just over three times less — $210,511 in 2019.

Top 1% Income by State

A double staircase in the home of a family in the top 1%.

The top 1% also varies depending on what state you live in. For example, in Connecticut, you’d need to earn $1,152,254 per year to be among the top 1%. In Georgia, those numbers are significantly lower, at $700,544 annually to earn a place in the top 1%. In Texas, those numbers are $762,090, while in California it’s $1,035,673.

You can read our study to see how much you need to earn in your state to reach the top 1%.

How Many People are in the Top 1%?

Only 1.49 million Americans, or a small fraction of taxpayers, reported at least $787,712 in income in 2021. It’s no surprise that California—the country’s most populous state—had the most taxpayers in the 1% (177,645), followed by Texas and Florida (126,128 and 101,940, respectively).

What Is the Top 1% Net Worth in the U.S.?

Net worth thresholds of the top 1% vary depending on the source. For example, the 2024 Wealth Report by Knight Frank states that the 1% in the U.S. starts at a net worth of $5.8 million. This puts the United States as the country with the fourth-highest number in the world, according to Knight Frank.

Meanwhile, DQYDJ estimates that the top 1% starts for households with a net worth of at least $13.66 million.

Zooming out, numbers from the Federal Reserve Bank of St. Louis show that the top 1% in the U.S. continue to amass a larger percentage of the total wealth in the country. According to Federal Reserve Economic Data (FRED) from the third quarter of 2024—the most recent data available in March 2025—the top 1% controlled $49.2 trillion or 30.8% of the total wealth in the U.S. Thirty-five years earlier, the top 1% held just 22.8%, according to FRED.

Top 1% by Net Worth and Throughout the World

The income needed to be in the top 1% varies by country. According to the Knight Frank report, Monaco, Luxembourg and Switzerland have higher thresholds than the U.S. You will need $12.9 million, $10.8 million and $8.5 million to crack the top 1% in those countries, respectively.

Bottom Line

An ultra-high-net-worth individual flying in a private jet.

In the U.S., reaching the top 1% requires earning at least $787,712 annually, though the threshold varies by state. Keep in mind that the median household income in the U.S. earns just $80,000 annually. If you’re looking to grow your wealth substantially, you might benefit from working with a financial advisor.

Tips for Investing

Many financial advisors specialize in tuning your portfolio to boost income. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
You can consider the wealth gap from many perspectives beyond just the raw numbers. Insightful data exists on the gap considered from the perspectives of race, generation and gender.