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WalletHub Ranks States: NY Leads, CA Drops Amid Wealth Exodus

6/7/2026

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Summary

Story summary

WalletHub released a ranking of U.S. states by median annual income, with the national median at about $83,000.
Analyst Chip Lupo noted that New York’s median income of $96,000 is slightly above the national median, yet income disparity kept the state from the top spot.
Lupo said California barely entered the top 15 because high-wealth residents are moving to tax-friendly states such as Texas, Florida and Tennessee, shifting the rankings.

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Story summary

WalletHub released a ranking of U.S. states by median annual income, with the national median at about $83,000.
Analyst Chip Lupo noted that New York’s median income of $96,000 is slightly above the national median, yet income disparity kept the state from the top spot.
Lupo said California barely entered the top 15 because high-wealth residents are moving to tax-friendly states such as Texas, Florida and Tennessee, shifting the rankings.