Do You Make Enough Money To Be Considered ‘Rich’ In Michigan?

Growing up I always dreamed of being 'rich' like my neighbors were.

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In reality they weren't rich, but they did have a pretty sweet above ground pool.

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New research from GoBankingRates.com found out how much you have to make in all 50 states to be considered 'rich'

When it comes to Michigan we find ourselves in the middle of all the states.

Do You Make Enough Money To Be 'Rich' In Michigan?

To figure out how much you need to make in Michigan and the rest of the country GOBankingRates used IRS data to conduct a study of the top incomes for all 50 states.

They found what income level is needed to be in the top 20% and the top 5% of incomes within each state.

When it comes to being 'rich' in Michigan here is the breakdown

Michigan found itself at the #30 spot.

• The minimum you need to make to be in the top 20%: $123,606
• Average adjusted gross income of the top 20%: $213,981
• The minimum you need to make to be in the top 5%: $376,426

What It Take To Be Rich In Neighboring States

At #38 is Indiana

• The minimum you need to make to be in the top 20%: $116,983
• Average adjusted gross income of the top 20%: $198,848
• The minimum you need to make to be in the top 5%: $347,661

At #35 is Ohio

• The minimum you need to make to be in the top 20%: $120,392
• Average adjusted gross income of the top 20%: $209,247
• The minimum you need to make to be in the top 5%: $370,964

At #14 is Illinois

• The minimum you need to make to be in the top 20%: $144,311
• Average adjusted gross income of the top 20%: $258,373
• The minimum you need to make to be in the top 5%: $466,713

I don't know about you, but unless these numbers go down a lot I'll never be able to say I'm rich.