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How Does Connecticut Rank When It Comes To The Richest States?

Yachts on display at the Delamar Docks in Greenwich.
Yachts on display at the Delamar Docks in Greenwich. Photo Credit: File

FAIRFIELD COUNTY, Conn. — It probably comes as no surprise that Connecticut is one of the richest states in the United States.

But it might be a surprise to learn that the Nutmeg State ranks only as the sixth richest state in America in the latest “Richest and Poorest States” report from 24/7 Wall St.

Here are the statistics on No. 6 Connecticut:

  • Median household income: $73,433 (far more than the $57,617 national median income)
  • Population: 3,576,452 (22nd lowest)
  • 2016 Unemployment rate: 5.1% (16th highest)
  • Poverty rate: 9.8% (4th lowest)

High educational attainment and a large number of advanced, high-paying jobs help contribute to the high concentration of wealth, according to24/7 Wall St.

A total of 38.6 percent of adults in Connecticut have a bachelor’s degree, the fourth highest.

In the workforce:

  • 8.8 percent is employed in generally high paying finance and insurance jobs, the second largest share in the country. and
  • 2.3 percent is in information, the fifth largest share in the country.

Here are the 10 richest states:

  • Maryland
  • Alaska
  • New Jersey
  • Massachusetts
  • Hawaii
  • Connecticut
  • New Hampshire
  • Virginia
  • California
  • Washington

Here are the 10 poorest states:

  • Mississippi
  • West Virginia
  • Arkansas
  • Louisiana
  • Alabama
  • Kentucky
  • New Mexico
  • Tennessee
  • Oklahoma
  • South Carolina

Click here for the full report from 24/7 Wall St.

To determine the list, 24/7 Wall St. looked at unemployment rates, median household incomes, higher educational attainment rates and property values as well as other information from the 2016 American Community Survey by the U.S. Census Bureau.

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