Maryland is ranked as the No. 1 richest state in America due to its median household income, poverty rate, and unemployment.
Get that money, Maryland. You have surpassed Virginia (formerly the reigning champ in 2018) as the richest state in America.
24/7 Wall Street chose to pit all 50 states in America against one another by ranking them on their "Richest and Poorest States in America List" on October 1, and Maryland landed in the No. 1 spot.
They gathered their data from the U.S. Census Bureau’s American Community Survey and Bureau of Labor Statistics from 2018, ranking each state by their average household income, poverty rate, percentage of adults with a bachelor's degree, and number of people unemployed.
We are surprised that Maryland took the cake with this one considering California, New York, or Washington, D.C., were some of the expected winners.
Here Are Some Statistics:
Maryland's average household income is $83,242. The poverty rate is only 9 percent, and the state boasts a low 3.9 percent rate of people unemployed.
Virginia is sitting in the No. 10 spot with similar statistics. Their average household income is $72,577, and the poverty rate is 10.7 percent, with a 3 percent unemployment rate.
The ratings also took into account that both Maryland and Virginia were both some of the most educated states in the county. Maryland has 40.8 percent of adults with bachelor’s degrees, while Virginia sits at a close 39.3 percent.
Here Are 24/7 Wall Street's "10 Richest States in America":
2. New Jersey
7. New Hampshire
For the full list of rankings for all 50 states, click here.
What do you think of this rating? Do you agree that Maryland is the No. 1 richest state? Tell us your thoughts in the comments.