New Hampshire is 7th richest state in U.S., report says
Massachusetts, Connecticut also make top 10
Massachusetts, Connecticut also make top 10
New Hampshire is among the nation's top 10 wealthiest states, according to a new report by 24/7 Wall St.
The report was released last week by 24/7 Wall St., a Delaware corporation which runs a financial news and opinion company.
The report ranks New Hampshire as the seventh richest state in the country.
The median household income in the Granite State is $70,936, which is far higher than the national median income of $57,617.
According to the report, relatively few residents in the state endure extreme financial hardship.
Only 4 percent of households earn less than $10,000 annually, the second smallest percentage in the U.S. Just 7.3 percent of New Hampshire residents live in poverty, the smallest share in the country.
The report suggested that high income levels may partially be the result of education levels among Granite Staters.
New Hamphire has the fourth-largest percentage of high school graduates in the country, with 92.8 percent having graduated high school.
Additionally, 36.6 percent of adults hold a bachelor's degree, which is the seventh-largest percentage of U.S. states.
New Hampshire also has the 10th lowest population in the United States, with 1,334,795 residents.
The unemployment rate in 2016 was just 2.8 percent, which was the second lowest in the country.
24/7’s 10 richest states:
1. Maryland
2. Alaska
3. New Jersey
4. Massachusetts
5. Hawaii
6. Connecticut
7. New Hampshire
8. Virginia
9. California
10. Washington
24/7 10 poorest states:
1. Mississippi
2. West Virginia
3. Arkansas
4. Louisiana
5. Alabama
6. Kentucky
7. New Mexico
8. Tennessee
9. Oklahoma
10. South Carolina
How 24/7 Wall St. got its results:
To identify the richest and poorest states with the highest and lowest median household income, 24/7 Wall St. said it reviewed state data on income from the U.S. Census Bureau’s 2016 American Community Survey (ACS). Median household income for all years is adjusted for inflation. Data on health insurance coverage, employment by industry, food stamp recipiency, poverty, and income inequality also came from the 2016 ACS. 24/7 Wall St. said it also reviewed annual average unemployment data from the Bureau of Labor Statistics (BLS) for 2015 and 2016.