Is North Dakota One Of The Least Wealthy States In America?
Have you ever wondered where North Dakota ranks on wealth? I mean there are wealthy people here, sure, but what about the state as a whole?
Well, it turns out that World Population Review did a survey to find out just that. To do this they looked at local residents' income and each individual state government's, but they also looked at each state's "GDP," which stands for "Gross Domestic Product."
According to the source, that's another way of saying they are looking at each state's overall distribution of goods. The source says this and the median income is a reflection of the state's economy.
The wealthiest state according to household income is the District of Columbia. If we're looking at GDP, it's California.
Overall, both the median income and GDP considered, the wealthiest state in the country is none other than new York. I'm sure this is no surprise to you. Second is Massachusetts, then Washington.
Highest Cost Of Living
If you're curious as to which state has the highest cost of living, the source claims Hawaii. That said, the median income is approximately $83,102 and the state's poverty rate is low at 9.3 percent.
So, overall where does North Dakota fall? Are we one of the poorest states? As a matter of fact, -- NO.
North Dakota is actually in the Top 10. We actually come in right at number ten on the list. Are you surprised?
Yes, farming, oil, and even honey exports help make North Dakota one of the wealthiest states in the U.S.
I hope you found this information useful and interesting.
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