What thoughts do you get when you think about the richest states in the US? Big buildings? Huge infrastructures? Entrepreneur hub? But, that’s not the truth. We usually mistook the charm of big cities as a symbol of wealth and wellbeing. Wait!!! Still, have a doubt? No worries, we got proof! This post has the list of the Top 10 Richest States in the US that might surprise you.
The US is the land of Millionaires. Being the 7th richest country in the world, it has a lot of potentials. As per the Forbes report, 10.5% of the U.S. population lived in poverty while the rest produces a total wealth of more than $105 trillion. And that is really Huge!!!! Most of this income comes from Real estate, healthcare, and technology.
But about their position and how much GDP do these states have? Wait! This was just the crux! Below you will find wholesome information about these states, listed on the basis of the GDP per capita, Happiness count of their citizen, and overall wealth.
Which are the Richest States in the US?
The US has 50 states in total and among these, the one at the top of the list of the richest states in the US is New York City. With $1,705,127 million as GDP, New York City contributes the most to its economy. Also, States like California, Delaware, New Jersey also mark their position to be on the list of the top 10 wealthiest US states.
Looking at history, there is no surprise in New York being the richest state in the US. But, North Dakota and Illinois’s new entry on the list was not expected.
- GDP in million dollars: $ 875,671
- GDP per Capita: $69,667
Illinois is the tenth richest state in the US and its major source of revenue comes from WAGERS. The state pays income tax to the government. The value is also added to the state’s income by the primary and secondary sectors by exports, agricultural income, and manufacturing.
What is Illinois known for?
The state of Illinois is popular for its abundance of natural resources, agriculture, and small-scale industries.
Illinois has been a favorite spot to be among American citizens and immigrants alike. Many significant personalities, who are popular globally, are born in the state of Illinois giving the state a unique identity!
9. North Dakota
- GDP in million dollars: $54,044
- GDP per Capita: $70,185
The major source of income of North Dakota comes from the energy industry for it has huge reservoirs of oil and coal. The state produces shale gas too. North Dakota also has large reserves of lignite coal, and it is the largest producer in the country, making it one of the richest states in the US.
What is North Dakota known for?
The state of North Dakota was famously known for the immigrant farmers, general laborers, and the families who majorly came from Norway, Iceland, Sweden, Germany, and the United Kingdom.
North Dakota also has the most expensive rentals according to a study conducted in 2014.
- GDP in million dollars: $ 427,616
- GDP per Capita: $70,500
The major sources of revenue of the state of Maryland come from the fishing industry. Aquaculture is the bone of Maryland’s economy.
Aquafarms within the state produce striped bass, catfish, Tilapia, and shellfish as well as ornamental fish and aquatic plants. Manufacturing also provides a major income for the state, making Maryland one of the top ten richest states in the US. The manufacturing includes electrical and electronic machinery, food, and transportation equipment.
What is Maryland known for?
The state is named after an English queen Henrietta Mary also known as Queen Mary.
The Maryland Gazette founded in 1727 is the oldest continuously published newspaper in the United States. The place is of huge historic significance and is also known for its remarkable historic monuments.
7. New Jersey
- GDP in million dollars: $ 625,659
- GDP per Capita: $70,501
The major source of income of New Jersey comes from both the primary and secondary sectors.
The division of the primary sector includes- Nursery stock, horses, vegetables, fruits, and nuts such as cranberries, tomatoes, and blueberries, seafood, and dairy products. Whereas the division of secondary sector includes- Chemical products, food processing, electric equipment, printing and publishing, tourism.
What is New Jersey known for?
New Jersey is home to a dozen of thinkers and inventors whose Thomas Edison is just an example.
The state is also home to the tallest water tower in the world and ranks second all over the world in the generation of solar panels and solar energy generation.
- GDP in million dollars: $ 76,468
- GDP per Capita: $77,214
Since there is no sales tax generated in Delaware, the major source of income is generated from the personal and corporate income tax. That’s the biggest reason why Delaware is among the top richest states in the US.
What is Delaware known for?
The state of Delaware derives its name from the nearby river Delaware which has been named after Thomas West, 3rd Baron De La Warr, who was an English nobleman and Virginia’s first colonial governor.
The state of Delaware is known for its clean beaches- the cleanest in the united states. It is also the first state to ratify the constitution of America and thereby known as “the first state“. The state is also the only where no sales tax is taken.
- GDP in million dollars: $ 3,120,386
- GDP per Capita: $78,771
The major source of income of California is the income tax collected from people.
The residents of California are taxed on every income they earn regardless of the source of it whereas the non-residents are only taxed on the major income. The revenue also comes from the healthcare industry and Social Assistance industry.
What is California known for?
You talk about California and it is a crime if you don’t talk about the famous beaches of the state, the Hollywood sign and the lavish mansions of the celebrities around it, and the 280 national parks!
California is home to 280 national parks alone!
- GDP in million dollars: $283,601
- GDP per Capita: $79,824
The major source of revenue of the state comes from the secondary sector- which is the industrial sector.
The reason why Connecticut is among the richest states in the US lies in its manufacturing. The manufacturing of Textiles, silverware, sewing machines, clocks, and watches are among Connecticut’s historic industries and contribute to most of Connecticut’s revenue.
What is Connecticut known for?
Connecticut is the place that still publishes the oldest US newspaper called the “Hartford Courant” which started in 1764.
The name comes from the Connecticut river which bisects the state and is one of the major rivers of the united states of America. Connecticut is also one of the 6 New England states, while Massachusetts was also on the list.
- GDP in million dollars: $ 632,013
- GDP per Capita: $81,059
The major source of income of the Washington state that has made it one of the richest states in the US surprisingly is “NOT” taxes. In fact, the state of Washington is one of the states that does not impose heavy taxes including even the personal income tax.
So from where does the income come from?
The income of the state comes from the business it runs. The income of Washington also comes from community and personal services groups which is the top service industry group in DC. The state also has its income sources in the private health care industry, computer programming and engineering companies, and law firms.
What is Washington known for?
Named after the first president of the United States, George Washington, the city is the capital of the USA. It is also famous for being the birthplace of “Starbucks- the famous coffee brand”.
Not just this, Washington is also popularly known for its extreme beauty with diverse geographical terrains and of course its famous football team!
- GDP in million dollars: $ 590,307
- GDP per Capita: $85,400
Unlike the beloved NYC where the major source of income is in the entertainment and finance sectors, the major source of income in Massachusetts comes from greenhouse products and nursery products.
It contributes to about 35% of total agricultural GDP followed by Cranberries. The income also comes from mining clays and granite and the production of sand and gravel used for the production of roads etcetera. Massachusetts is one of the richest states in the US.
What is Massachusetts known for?
Massachusetts is one of the thirteenth original colonies and also one of the sixth colonies of the New England state.
Massachusetts, also known as the “commonwealth of Massachusetts” is also famous for MAYFLOWER.
Mayflower was a ship that used to travel between England and Massachusetts carrying the pilgrims (known as English Families back then) in it back in the 1620s.
1. New York
- GDP in million dollars: $1,705,127
- GDP per Capita: $88,349
The major source of income of New York City comes from the tertiary sector which makes it the richest state in the US.
The city gets the majority of revenue from the advertising, finance, banking, and entertainment industry. The city is also a hub for tourist sights. Hence, tourism is also one of the major factors contributing to the GDP of the state.
What is New York known for?
New York City is known for its stunning and alluring development in the entertainment, financial, and advertising sector. And when we talk about New York and its specialty, we cannot dare to forget about the statue of liberty and the Broadway shows.
Top 10 Richest States In The US
|S. No.||States||GDP per capita||GDP (in million $)|
|7||New Jersey||$70,501||$ 625,659|
|9||North Dakota||$70,185||$ 54,044|
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