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Old 09-20-2008, 05:52 PM
 
18 posts, read 70,293 times
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Sup all! I'm new to this forum and found it while I was searching for a place to live in CT. Im from Buffalo and we just moved here for jobs. Right now we are in a hotel, but going to be moving into our apartment in the next few days. Since I'm from Buffalo, u can probably all guess that I dont have $$$$ coming out of my ears. Money to us is almost foreign lol, we lived pretty simple lives up there...people up there don't get caught up in everything.

My question is, what are the richest states? I keep looking it up, most sources say it is CT, others say it is NJ. One said MD. All 3 states were always 1 2 or 3 in every ranking.

Why are they all different? I noticed that in CT it is a lot of old family money, pretty WASP like. A number of familys I have met at my work in CT have only one working person per household, the other stays home or travels, shops, all that fun stuff. Does this mean that, say two people are rich, own a home, have a ton of money in the bank and don't work, their income would go down as zero, therefore affecting CTs ranking? I noticed that in Fairfeild County which is like wealthier than wealth lol, isn't on one of the top lists. Why is that? Would the trust fundies and bank accts (nobody working) affect fairfield county's standing? there's a lot of that here.

Sorry for sounding stupid!

greyson
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Old 09-20-2008, 07:00 PM
 
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Sometimes it is measured by average household income or average personal income.

Maryland has the highest per capita income because of all the government workers/contractors etc.

Places like CT probably have a lot of really wealthy people and a lot of poor people.

Places like CT don't matter because if you aren't already rich, you aren't going to get rich in a place like that.

Places like D.C. and its suburbs (i.e. all of Maryland is a suburb of D.C., and NoVA) matter because the average joe can make some decent money there.
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Old 09-20-2008, 07:02 PM
 
Location: moving again
4,382 posts, read 15,328,897 times
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Quote:
Originally Posted by ateo View Post
(i.e. all of Maryland is a suburb of D.C., and NoVA)
Really? Tell that to the people of Western Maryland the Eastern Shore as well as southern Marylanders.( The Cities of Maryland - SkyscraperCity)
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Old 09-20-2008, 07:17 PM
 
5,728 posts, read 9,096,163 times
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Quote:
Originally Posted by ateo View Post
Sometimes it is measured by average household income or average personal income.

Maryland has the highest per capita income because of all the government workers/contractors etc.

Places like CT probably have a lot of really wealthy people and a lot of poor people.

Places like CT don't matter because if you aren't already rich, you aren't going to get rich in a place like that.

Places like D.C. and its suburbs (i.e. all of Maryland is a suburb of D.C., and NoVA) matter because the average joe can make some decent money there.
Several members of my family in Connecticut became wealthy without inheriting.

I believe CT and NJ have the highest per capita incomes in the country.
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Old 09-20-2008, 07:27 PM
 
Location: Coastal Northeast
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Quote:
Originally Posted by WILWRadio View Post
Several members of my family in Connecticut became wealthy without inheriting.

I believe CT and NJ have the highest per capita incomes in the country.
Yes, they do. Maryland has a high household income, but I still think CT and NJ rank a bit higher.

I think CT's highest per capita income comes from the amount of young, single professionals (I think they call 'em Yuppies) just out of college who make a *very* decent living.

Re: becoming rich in Connecticut...the state has a very highly skilled workforce, a huge number of fortune 500 companies and is commutable to NYC and if you stretch it a little, Boston. My family made all of their money in CT, and they're doing very well. I'd be willing to bet that in CT there is a lot more competition than in most states, but that doesn't mean you can't become rich here.

The thing that's a little overwhelming about CT is that its three largest cities are just about the *only* pockets of poverty in CT (New Haven, Bridgeport, Hartford) with areas of a few other towns (Waterbury, Meriden, New London), but it's extreme poverty. Imagine how the state would rank if those three cities turned over a new leaf.

The wealth gap in CT is much more extreme than in any other state, IMO.
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Old 09-20-2008, 07:34 PM
 
18 posts, read 70,293 times
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Ok yeah it's pretty obvious that CT is one of the richest places in the country, but with people who have a ****load of money in the bank and don't work, do they skew the area's "average household income?"

Because I have met a number of ppl who don't work in CT and drive real nice cars. They are kind of waspy, but friendly!!!!
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Old 09-20-2008, 07:38 PM
 
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As per Wikipedia. Generally its either NJ, CT or MD on top, but in 2007 it was MD on top followed closely by NJ.
States ranked by median household income in order

Median Household Income by State: 2007 [1]
  1. Maryland – $68,080
  2. New Jersey – $67,035
  3. Connecticut – $65,967
  4. Alaska – $64,333
  5. Hawaii – $63,746
  6. New Hampshire – $62,369
  7. Massachusetts – $62,365
  8. California – $59,948
  9. Virginia – $59,562
  10. Minnesota – $55,082
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Old 09-20-2008, 07:47 PM
 
Location: Coastal Northeast
16,739 posts, read 23,184,751 times
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Quote:
Originally Posted by greyson83 View Post
Ok yeah it's pretty obvious that CT is one of the richest places in the country, but with people who have a ****load of money in the bank and don't work, do they skew the area's "average household income?"

Because I have met a number of ppl who don't work in CT and drive real nice cars. They are kind of waspy, but friendly!!!!
I really don't know. I know there are a lot of people like this, especially in towns like Greenwich, Darien, New Canaan, Weston - the whole panhandle really. There are a *lot* of trust fund babies. But there are also a lot of people who commute to work in NYC who make a very good living. Many work on Wall St.

Quote:
Originally Posted by minibrings View Post
As per Wikipedia. Generally its either NJ, CT or MD on top, but in 2007 it was MD on top followed closely by NJ.
States ranked by median household income in order

Median Household Income by State: 2007 [1]
  1. Maryland – $68,080
  2. New Jersey – $67,035
  3. Connecticut – $65,967
  4. Alaska – $64,333
  5. Hawaii – $63,746
  6. New Hampshire – $62,369
  7. Massachusetts – $62,365
  8. California – $59,948
  9. Virginia – $59,562
  10. Minnesota – $55,082
Thanks for the list. I did know Maryland had its household income going for it. I think it's the younger crowd in CT and NJ's populations that raise the per capita income, and it's the jobless urban residents (mostly minority) who lower both per capita and household incomes. Same can probably be said for MD, though I don't think there are as many young urban professionals in MD as there are in the other two (places like Norwalk, Stamford and Hoboken.)

Last edited by kidyankee764; 09-20-2008 at 07:57 PM.. Reason: grammar
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Old 09-20-2008, 07:50 PM
 
9,334 posts, read 19,470,374 times
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NJ has lots of companies that pay well and lots of wealthy NYC commuters. I remember when NJ was number 1 (I think it was 2006).. my friends from CT were pissed! I do not know much about MD except its one of those states where biscuits and gravy for breakfast starts appearing in menus (as you head south towards florida)
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Old 09-20-2008, 07:56 PM
 
Location: Coastal Northeast
16,739 posts, read 23,184,751 times
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Quote:
Originally Posted by minibrings View Post
NJ has lots of companies that pay well and lots of wealthy NYC commuters. I remember when NJ was number 1 (I think it was 2006).. my friends from CT were pissed! I do not know much about MD except its one of those states where biscuits and gravy for breakfast starts appearing in menus (as you head south towards florida)
LOL - I have many NJ friends from college. In our apartment of four, two were from NJ, two from CT. Two of the years, NJ was richest, so the Jersey kids owed us a night out where they paid for drinks. When CT was, we had to buy.

So every year we would hope that we'd be number two.
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