ARE YOU AMONG COLORADO’S 1%?

To be in the top 1% of earners in Colorado, you would need to make at least $709,092 per year. This amount is the seventh highest among all states in 2020, and it's about $56,000 more than the national average household income of $652,657.

Looking at the national picture, Connecticut is the most expensive state to join the ultra-exclusive 1% club, as residents there need to earn at least $952,902. On the other hand, in West Virginia, it's comparatively less expensive, with residents needing to make $367,582 to be among the state's top earners.

When it comes to Colorado, it's worth noting that the effective tax rate for high earners is 25.86%, which ranks as the 11th highest in the nation. However, it's important to remember that the ultra-wealthy have various ways to reduce their actual tax burdens.

Colorado is no stranger to wealth, with numerous million-dollar homes and even billionaires calling the state home. In fact, about 38.4 out of every 10,000 tax returns in Colorado in 2020 indicated millionaire status.

So if a member of the COLORADO ONE PERCENTERS, where do you make your home in the Centennial State?

Denver

DENVER has seen a 163% increase in households making over $200,000 per year, with 43,769 such households.

Colorado Springs

COLORADO SPRINGS has experienced a 170% increase, with 15,606 households in that income bracket.

Lakewood

LAKEWOOD has seen a significant 286% increase, with 14,137 households making over $200,000 per year.

Arvada

ARVADA has had a 149% increase, with 11,915 households in that income range.

Highlands Ranch

HIGHLANDS RANCH has seen a 105% increase, with 10,292 households making over $200,000 per year.

Aurora

AURORA has experienced a substantial 258% increase, with 9,800 households falling into that income category.

Centennial

CENTENNIAL has seen a 132% increase, with 7,853 households making over $200,000 per year.

Boulder

BOULDER has had a 65% increase, with 5,710 households in that income bracket.

Westminster

WESTMINSTER has experienced a 264% increase, with 5,162 households making over $200,000 per year.

Longmont

LONGMONT has seen a significant 295% increase, with 4,787 households falling into that income range.

Thornton

THORNTON has had a 156% increase, with 4,778 households making over $200,000 per year.

Fort Collins

FORT COLLINS has experienced a 137% increase, with 3,618 households in that income category.

Loveland

LOVELAND has seen a substantial 311% increase, with 3,115 households making over $200,000 per year.

Pueblo

PUEBLO has had a 341% increase, with 1,677 households falling into that income bracket.

Greeley

GREELEY has experienced a 181% increase, with 1,007 households making over $200,000 per year.

While Colorado has its share of wealth, there are other states that surpass it in terms of the number of millionaires. Washington, Florida, Wyoming, New Jersey, California, New York, Massachusetts, and Connecticut have the highest number of members in the million-dollar club. Notably, Washington, D.C., takes the top spot with the most millionaire citizens.