Here's how you stack up against the average income in your state.
Texas squeezes in the top 20 for average household income and also finishes 20th for highest average hourly wage. But the per capita personal income is only 26th highest in the country.Utah has the 17th-highest average household income but the 42nd per capita personal income. Men consistently make more than women, with the median income difference of over $15,000 between males and females, ranking second highest in the country.
However, there's also a correlation between the cost of living and incomes in every state. For example, Mississippi is the state with the lowest cost of living and the lowest average household income. Meanwhile, DC has the highest average household income and the No. 2 highest cost of living behind Hawaii. This makes sense — in order to afford their state's high cost of living, DC residents need higher incomes than other Americans to pay for expenses.
Methodology: GOBankingRates sourced all incomes from the Bureau of Labor Statistics, Bureau of Economic Analysis and the American Association of University Women.
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