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?

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.