It often becomes difficult to try and capture the data that would make a state said to be richer than the other. Firstly, the unemployment rate is what one needs to measure on. After averaging the data according to this, we have figured out the richest states in the US for the year 2020.
Top 10 Richest State in America in 2020
Let’s dive in the topic straight away and find out which is the wealthiest State in America (USA)
Last on the top 10 richest states’ list is Vermont and even though it may be last on this list, but it is still a very rich state. The unemployment rate is just 4.4% and if you really want a nice countryside living, you should definitely opt to stay in Vermont, that is if you can afford it.
The second last in the list is Wyoming and people here get paid a very decent salary and so that’s why it stays high up in the list. The population here works well and not just that but knows how to save their hard-earned money. They live well and the average income here that they earn is around $60,000.
Another state which manages to be on the list in all these years is Massachusetts as people here are very hardworking and are paid pretty good salaries making it one of the richest states in the US. With the unemployment rate at just 6%, the upper east coast lives a pretty luxurious life out there. The median income here tends to be around $75,000.
This has been a wealthy place in all the years, and as per a recent survey, people are quite happy and content living here as this place fulfills all the demands and people here get paid some great salary. Apart from that, the poverty rate is only 11% while the unemployment rate is at 5.5%
Next in the list of the richest states in the US comes Utah, where the median income is somewhat around $65,000 and the unemployment rate is a mere 4%, Utah is quite a rich place. There is not much to do there but since everyone is rich there, they can sure figure out what to do with all that cash.
This place is for the rich and famous people and here you’ll be able to find some lavish living, great sports cars and amazing places to eat. The poverty rate here is 9.7% while unemployment is just 6%.
Talking about the average income, it would be somewhere around $80,000.
4) North Dakota
You must be surprised that this comes fourth in the list but it is true, and the fact that the unemployment rate is even lower than the top 3 at only 2.7%. It is said that if you do not have a job here, it is only because voluntarily you did not want to work.
The poverty rate here lies at somewhat around 11% which might be a tad bit high but it is overcompensated by the unemployment rate.
Here, the poverty rate is just about 10% and though people earn a lot here, the twist here is that the purchasing power is pretty high that the amount you earn usually gets spent for a decent living. However, the unemployment rate is just 4.9% which shows that very fewer people are out of work here. As per stats, only 1 in 10 Hawaiians live in poverty.
If you look at the data in the past years, you would see that the people residing in Minnesota have a great life and the unemployment rate is almost 4.3% while income turns around to be an amazing figure of $65,000 averagely. According to the Gophers State rank, Minnesota lies in the top 10 of every category that was measured.
1) New Hampshire
It’s hard to guess about New Hampshire but one must know that here only 8% of the total population lives in poverty, that’s it. Here the average earnings of the families are about $70,000 per year which is way more than other states here.
As per stats, the unemployment rate is only 4.5% and the poverty rate is also just 8% making it one of the richest states in the US.
Here is a quick recap of the Top 10 Richest States in USA 2020.
- New Hampshire
- North Dakota