The Unexpected Salary You Need to Be in Minnesota's 1%

When you think of someone who’s uber rich - like, the kind of person with a private chef and a dog that's dressed better than you rich - what kind of number comes to mind? A cool million? Five? Maybe something with so many zeroes it doesn’t even feel real?

For most of us, the 1% sounds like a world reserved for tech giants, trust fund babies, and folks like Joe Mauer. But what does it actually take to land a spot among the richest of the rich here in Minnesota?

Sure, the Land of 10,000 Lakes isn’t exactly crawling with billionaires. Sure, a few live here, but it’s not like they’re roaming the aisles of Target with the rest of us.

Also See: Five Minnesotans Now on World's Billionaire List 2025.

Believe it or not, breaking into Minnesota’s top 1% doesn’t require billions, or even millions. The salary needed is up there, that's for sure, but not nearly as extreme as I expected.

According to new numbers from GOBankingRates, here’s what it takes to land among Minnesota’s top earners:

To be part of the top 20%, the minimum annual salary you need is $164,585.
To be in the top 5%, that number jumps all the way up to $441,274 a year.

What Salary Do You Need to Be in Minnesota’s 1%?

According to Best of Minnesota, that number is $730,000 per year! How do we stack up against the rest of the country? There are a few other states where you actually need to be a millionaire to get in, but Connecticut takes the crown with the highest income requirement in the country.