As Gas Prices continue to rise along with Mortgage Rates and Rent Costs, many Americans continue to be concerned about how Inflation is impacting their lives.

Ten years ago, an individual making $ 40,000 a year salary was considered at the higher end of the Working Class Income Bracket.  Today, that same person needs to make over $53,409 to maintain the same quality of lifestyle they had a decade ago.

According to the latest analysis, to achieve Middle-Class Status in New Jersey you must make over $80,000 Annual Household Income, a number that is 20,000 dollars higher than it was 12 years ago.  The Bureau of Labor Statistics says that in 2023 the median annual wage of workers in the United States is $48,060.

Where Does New Jersey's Median Income Compare To Other States

The latest data from the United States Bureau of Labor Statistics shows that five of the top ten highest median wage states in America are in the Northeast. Considering that New Jersey has the third-highest Household Expenses in America, it is also no surprise that The Garden State is one of the top ten highest-earning states.

According to the US Bureau of Labor Statistics, New Jersey residents' Median Annual salary is $54,860, which is the seventh highest in the United States. New Jersey's Median Annual Salary is ahead of neighboring states of Pennsylvania ($47,430) and Delaware ($49,280). New York Residents' Median Annual Salary ($56,840) is only $2,000 ahead of New Jersey.

Here Are The Top Ten Highest Median Annual Salary States

1) Massachusetts: $60,690
2) Washington: $59,920
3) New York: $56,840
4) Alaska: $56,140
5) Connecticut: $56,130
6) Maryland: $55,810
7) New Jersey: $54,860
8) Colorado: $54,050
9) California: $54,030
10) Rhode Island: $50,970

For comparison, the closest state to New Jersey that is on the list of lowest Median Annual Salaries is West Virginia at $39,770.  Most of the states on the lower end of the Median Annual Salary States are in the Southern and Midwest areas of the United States.

Even though New Jersey residents need a higher annual income to offset some of the highest Household Expenses in the United States, there are some great reasons why you should never move out of The Garden State.  Check out the top reasons why you shouldn't leave New Jersey below:

Why You Should Never Move Out of New Jersey

People really like to hate one New Jersey, but the state is one the best states to live in.