New Jerseyans may feel as if they are quite poor, but that’s not the reality, according to WalletHub’s most recent ranking, which had the Garden State as No. 1 in net worth.
To judge net worth, Wallet Hub looked at three criteria: the income per capita of residents; GDP per capita; and federal taxes paid per capita.
New Jersey ranked third in income — just below Maryland and Alaska and ahead of Hawaii and Connecticut. It ranked among the lowest five states with the percentage of households earning between $25,000 and $49,000 and among the top five for households earning $100,000 or more. (It was second only to the District of Columbia for households earning $200,000 or more.)
Surprisingly, New Jersey ranked fifth when it came to federal taxes paid per capita. New Jersey ranked ninth in terms of Gross Domestic Product per capita.