Michigan has some very wealthy people that call the state home.

Cars 108 logo
Get our free mobile app

Some of the wealthiest among them are called the top 1%.

According to the Congressional Budget Office, you need an annual income of at least $652,657 to be in the top 1% of wage earners in the U.S.

Meanwhile, those in the bottom 90% earned an average income of $36,571 annually.

But how much do you need to make to be the Top 1% in Michigan?

Let's take a look and find out.

Here's How Much Money The Top 1% Make In Michigan

Credit: Canva
Credit: Canva
loading...

A new study by BankingRates.com took a look at all 50 states to find out how much your salary would need to be among the top 1% of earners.

They used IRS data from 2021, the most recent available tax year data, and adjusted it to reflect 2024 dollar values in order to find the top 1% income threshold for each state.

If you dream of being among the top 1% in Michigan you need to have a year salary of $625,158.

That's a lot of money, but not as much as some other states.

How Much You Need To Earn To Be In The Top 1% In Each State

1 - Connecticut: $1,192,947
2 - Massachusetts: $1,152,992
3 - California: $1,072,248
4 - Washington: $1,024,599
5 - New Jersey: $1,010,101
6 - New York: $999,747
7 - Colorado: $896,273
8 - Florida: $882,302
9 - Wyoming: $872,896
10 - New Hampshire: $839,742
11 - Utah: $811,929
12 - Illinois: $811,004
13 - Nevada: $804,627
14 - Texas: $789,003
15 - Virginia: $787,471
16 - Maryland: $767,688
17 - Minnesota: $755,880
18 - South Dakota: $752,849
19 - Montana: $741,182
20 - Idaho: $728,859
21 - Georgia: $725,284
22 - Pennsylvania: $720,778
23 - Arizona: $713,264
24 - North Dakota: $708,284
25 - Oregon: $707,296
26 - Tennessee: $702,934
27 - North Carolina: $688,506
28 - Kansas: $674,225
29 - Rhode Island: $673,902
30 - Nebraska: $651,641
31 - Vermont: $645,255
32 - Alaska: $642,707
33 - Delaware: $640,330
34 - South Carolina: $632,805
35 - Wisconsin: $631,993
36 - Hawaii: $631,383
37 - Michigan: $625,158
38 - Missouri: $610,837
39 - Maine: $609,173
40 - Louisiana: $608,143
41 - Ohio: $601,685
42 - Iowa: $591,921
43 - Alabama: $577,017
44 - Indiana: $572,403
45 - Oklahoma: $559,981
46 - Arkansas: $550,469
47 - Kentucky: $532,013
48 - New Mexico: $493,013
49 - Mississippi: $456,309
50 - West Virginia: $435,302

I'm curious to know what these 1% do for a living to make so much money.

30 Famous Celebrities You Might Not Know Are From Michigan

You will definitely recognize these names and faces, but might be surprised to find out they're from Michigan.

Gallery Credit: Big Joe Pesh / Getty Images

More From Cars 108