Here’s How Much You Now Need to Earn to Be Rich in Minnesota

Living here in Minnesota, with its scenic beauty and above-average quality of life, you might consider yourself 'rich.' But when it comes to money, we now know just how much you have to earn to actually be regarded as rich.

They say that money can't be happiness, but here in the North Star State, if you want to be considered rich, it *does* take a certain amount of money. In previous generations, if you were rich in Minnesota, you might have owned a home on Lake Minnetonka as well as another cabin up north.

These days, to be considered rich here in the Land of 10,000 Lakes, you might only need to make enough money to pay for your mortgage, a couple of vehicles-- and have enough money left over to buy a dozen eggs. (Rim shot!)

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However, according to a new report from GOBankingRates.com, we now know what it takes to be regarded as rich here in the Bold North. Because 'rich' can be a subjective term with many different definitions, here's how GOBankingRates determined who's actually rich:

To get an idea of what it looks like to be rich in America, GOBankingRates used census data to conduct a study of the top incomes as they break down by state. It lays out what income level is needed to place you in the top 20% and the top 5% of incomes in Minnesota.

And, surprisingly, Minnesota is actually one of the richer states in the country in 2025. According to GOBankingRates, the Bold North is ranked 13th on the list of the richest states this year. New Jersey was ranked first in the survey, with the highest income needed to be considered rich, while Mississippi was ranked last, with the lowest income needed to be regarded as rich.

Specifically, GOBankingRates found the following financial information about Minnesota:

• Average adjusted gross income of the top 20%: $145,570
• The minimum you need to make to be in the top 20%: $145,571
• Average adjusted gross income of the top 5%: $250,361
• The minimum you need to make to be in the top 5%: $441,274

Now, if you want to be *uber* rich, Axios Twin Cities says you needed to bring home $648,000 a year to rank in the top one percent of earners in Minnesota back in 2021. When you adjust those figures for today, you'll need to earn over $739,000 to break from the ranks of the rest of us 99 percenters.

Meanwhile, it you want to check out some Minnesotans who would definitely in the rich category, keep scrolling to see just who are the Top 10 Highest-Paid Athletes in Minnesota in 2025!

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