These states have the largest economies by total GDP
- California – $4.08 trillion
- Texas – $2.70 trillion
- New York – $2.28 trillion
- Florida – $1.72 trillion
- Illinois – $1.03 trillion
These figures reflect the overall economic output of each state, with California leading due to its diverse economy encompassing technology, entertainment, and agriculture.
Top States by GDP Per Capital
GDP per capital measures the economic output per person, indicating productivity and standard of living:
- District of Columbia – $259,954
- New York – $110,980
- Massachusetts – $105,164
- Washington – $103,402
- California – $99,329
These states exhibit high economic productivity per resident, often driven by sectors like finance, technology, and professional services.
Top States by Median Household Income
Median household income reflects the earnings of the typical household:
- Maryland – $90,203
- District of Columbia – $90,088
- Massachusetts – $89,645
- New Jersey – $89,296
- New Hampshire – $88,465
These states benefit from high educational attainment and industries offering well-paying jobs, contributing to higher household incomes.
Adjusted for Cost of Living
When adjusting for cost of living, some states emerge as wealthier in terms of purchasing power:
- Utah ranks No. 1 for median household income after cost of living adjustment, with households earning a median income of $98,336, nearly 27% higher than the national average.
This adjustment highlights states where residents’ incomes go further in terms of purchasing goods and services.
