How Much Income Is Needed To Be Considered 'Rich' In New Hampshire?

NEW HAMPSHIRE — The income a household needs to be considered rich in the Granite State is increasing, as wealth thresholds continue to rise nationally, according to a new analysis.

A report from Visual Capitalist indicates households typically need to be in the top 10 percent of earners to be labeled “rich.” The specific income required to reach this status varies significantly by location.

In New Hampshire, households must earn $302,500 per year to meet the criteria for being considered rich. This figure compares to $229,000 in Maine and $294,600 in Vermont. In the Bay State, the figure is $386,800. These regional differences highlight how the definition of wealth can shift even within the same geographic area.

Nationally, a household needed to earn approximately $210,000 annually to be considered wealthy in 2024, according to a separate report by Visa Business and Economic Insights. This national definition also includes a net worth of about $1.8 million. Based on this definition, about 12.2 million U.S. households met the criteria for being “rich” last year.

The Visual Capitalist report found that annual household income thresholds range from approximately $198,000 in West Virginia to more than $630,000 in Washington, D.C. States located in the Northeast and along the West Coast generally require higher incomes to achieve wealthy status. Conversely, many Southern and rural states have lower thresholds.

Income alone does not fully represent the economic picture. High living costs in expensive metropolitan areas can erode purchasing power, meaning that six-figure salaries may no longer provide the same financial comfort they once did. However, some remote workers who moved to more affordable regions during the pandemic may find their earnings extend further.

Other research also points to a widening income gap. A recent Oxfam study found that over the past 35 years, the wealthiest 1 percent of Americans accumulated nearly 1,000 times more wealth than the poorest 20 percent.