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Just went down a rabbit hole looking at which US states actually have the most wealth, and it's pretty interesting how different the picture looks when you dig into the numbers. Everyone assumes it's just California and New York because of the sheer GDP size, but when you factor in median income and poverty rates, things shift around a lot more than you'd think.
So California does come out on top with that massive 3.6 trillion GDP, but the median income is only around 84k, and poverty sits at 12.3%. Compare that to Maryland at 91k median income with a much lower poverty rate around 9.2%, or Massachusetts where people are earning 89k with similar poverty levels. Interesting right?
The wealth concentration is wild though. Texas is pulling in 2.4 trillion in gross state product but the median income is actually lower than some smaller states, and poverty is higher at 14%. Meanwhile, places like New Hampshire and New Jersey are showing solid median incomes in the 83-89k range with lower poverty rates. It's a good reminder that raw GDP numbers don't always tell the whole story about how wealthy people actually are in a given state.
Looking at the data, the states that seem to have the best balance are the ones with both decent median incomes AND low poverty rates - places like Colorado, Virginia, and Washington seem to be doing pretty well on both fronts. Makes sense that they'd rank high on the richest states list.