STUDY: States Where Making Under $100K Means You're Rich

While we’d all love to be millionaires and not have to worry about money, you don’t necessarily have to have such a huge bank account to be considered rich. The truth is, it all depends on where you live, and a new report reveals that in some states you can make less than $100K and still fall into that category of “rich.”

A GoBankingRates study finds there are actually 20 states where it is possible to earn less than $100K, and still be considered rich. They defined rich as having income in the 80th percentile of all households within a state, and then took into consideration things like home prices, and cost of living expenses, like groceries, transportation and more.

So, where can you live “rich” on less than $100K a year? Well, Mississippi is the state where that money will go the farthest. In fact a person only has to make $81,038 to fall into the rich category. Plus, in Mississippi, median top-tier homes cost only about $218,000, while the state has the overall lowest cost of living in the U.S.

Top 10 States Where You Can Be “Rich” For Less Than $100K(The amount of money you need to make to be “rich”)

  1. Mississippi ($81,038)
  2. Arkansas ($81,917)
  3. West Virginia ($82,384)
  4. Idaho ($86,701)
  5. Kentucky ($87,408)
  6. Montana ($88,241)
  7. Tennessee ($88,339)
  8. Alabama ($88,984)
  9. Oklahoma ($89,267)
  10. South Carolina ($89,604)

Click here to see the complete Top 20.

Source: GoBankingRates



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