How Much Income Makes You “Rich” in North and South Carolina?
Now, the definition of “rich” can certainly differ from state to state, but also from person to person. Some consider themselves rich as long they are well of and able to afford the things they need. While others may feel like being rich is a threshold to having an excessive amount of money. The crazy part is that each state really does have a different definition of rich. From homes costing more in certain areas to the cost of living differing in others.
Well, being rich is, in theory, an idea but there is a threshold that makes you “rich” in some states. But, how much do you have to earn to be rich here in the Carolinas? Go Banking Rates is listing how much you need to earn to be rich in every state. We’re taking a deep dive into the earnings that are considered rich in North and South Carolina. Coming in at No. 41 on the list was South Carolina. In South Carolina, to be in the top 5% of income, you would have to make at least $374,427 a year. The minimum income to be in the top 20% is $116,032. But, what about North Carolina?
North Carolina is a little bit different. In North Carolina, to be in the top 5% you will need to make a minimum of $390,822. That’s nearly $20,000 more a year than in South Carolina. To be in the top 20% of income, you will need to make a minimum of $121,139 a year. So, are you in the top 20% of either North or South Carolina? Check out the full list here to see what other states consider a “rich” income.