North Dakota Ranks High Among Most Financially Successful States
According to a new study, you're doing pretty well for yourself if you live in North Dakota.
A study done by GoBankingRates lists North Dakota in the top ten most financially successful states. North Dakota ranks 9th overall among all 50 states, as well the District of Columbia.
The survey was based on the following statistics:
- Average income of top 1%: $1.28 million
- Average income of bottom 99%: $61,178
- Number of millionaire households: 13,494
- Ratio of millionaires to total households: 4.59%
- Number of billionaires: 0
- Population in upper class: 25%
- Population in middle class: 56%
- Population in lower class: 19%
- Overall poverty rate: 11.5
Wyoming is the only state with fewer millionaire households than North Dakota. However, the average income of the bottom 99 percent in North Dakota is higher than in Wyoming and most of all other states. North Dakota also has the smallest percentage of its population in the lower class among all states.
The eight states finishing ahead of North Dakota as the most financially successful were Connecticut, Maryland, New Jersey, Massachusetts, New Hampshire, Washington, D.C., California, and Alaska while Virginia finished behind North Dakota to round out the top ten.
The five least successful states based on the survey were Kentucky, Arkansas, West Virginia, New Mexico, and Mississippi coming in as the least financially successful state.