A new report shows that Virginia is home to big earners. In WalletHub’s 2026 ranking of the states where people have the highest income, Virginia placed No. 1.
The ranking analyzed average annual income of the top 5% of residents, the overall median household income, and the average annual income of the bottom 20%. Each of these was adjusted for the cost of living index (COLI). It used May 2026 data from the U.S. Census Bureau and Council for Community and Economic Research.
“By measuring the income of various percentiles against a state’s median income, we can better identify where income disparities are more prevalent, which could help us better understand why residents of certain states struggle more to make ends meet,” WalletHub analyst Chip Lupo said.
The results showed Virginia with a total score of 67.57. The top 5% had average earnings of $545,097, while the bottom 20% had average earnings of $19,671. The median annual income in the state was $95,339.
While Virginia ranked No. 1 overall, the median annual income alone was only the 17th highest in the country. “It seems like many people are skewed to either side of the wealth spectrum in the Old Dominion,” WalletHub said.
The commonwealth’s median income is still higher than the national average of $83,700.
Following Virginia in the ranking was New York at No. 2, New Jersey at No. 3, Washington at No. 4, and Connecticut at No. 5.
West Virginia was the lowest-earning spot, with a total score of 11.84. Nearby, Maryland ranked No. 16 and Washington, DC, ranked No. 12.
Feature image, stock.adobe.com
