Per Capita Income by State — Insurance Cost Reference
Insurance premium affordability is directly tied to local income levels. A $2,000 annual homeowners insurance premium represents a very different burden in a state averaging $45,000 per capita vs. one averaging $75,000. Use this data to contextualize insurance costs in your state.
Top 10 States — Per Capita Personal Income
Data: Bureau of Economic Analysis (BEA) via FRED • Period: January 2024
All 50 States — Complete Data Table
Click column headers to sort. Data period: January 2024.
| # ↕ | State ↕ | Per Capita Personal Income ↕ | vs Nat'l Avg ↕ |
|---|---|---|---|
| 1 | Massachusetts MA | $93,927 | +34.1% |
| 2 | Connecticut CT | $93,235 | +33.2% |
| 3 | Wyoming WY | $85,945 | +22.7% |
| 4 | New York NY | $85,733 | +22.4% |
| 5 | California CA | $85,518 | +22.1% |
| 6 | New Jersey NJ | $84,071 | +20.1% |
| 7 | Washington WA | $83,938 | +19.9% |
| 8 | New Hampshire NH | $82,878 | +18.4% |
| 9 | Colorado CO | $82,705 | +18.1% |
| 10 | Maryland MD | $78,538 | +12.2% |
| 11 | Virginia VA | $77,093 | +10.1% |
| 12 | Alaska AK | $75,247 | +7.5% |
| 13 | Minnesota MN | $74,943 | +7.0% |
| 14 | Illinois IL | $74,197 | +6.0% |
| 15 | South Dakota SD | $73,959 | +5.6% |
| 16 | Nebraska NE | $71,859 | +2.6% |
| 17 | Pennsylvania PA | $71,148 | +1.6% |
| 18 | North Dakota ND | $70,966 | +1.4% |
| 19 | Oregon OR | $70,685 | +1.0% |
| 20 | Florida FL | $70,390 | +0.5% |
| 21 | Vermont VT | $70,086 | +0.1% |
| 22 | Rhode Island RI | $69,936 | -0.1% |
| 23 | Hawaii HI | $69,520 | -0.7% |
| 24 | Delaware DE | $69,282 | -1.1% |
| 25 | Nevada NV | $68,657 | -1.9% |
| 26 | Maine ME | $68,129 | -2.7% |
| 27 | Kansas KS | $68,038 | -2.8% |
| 28 | Texas TX | $67,942 | -3.0% |
| 29 | Montana MT | $67,615 | -3.4% |
| 30 | Wisconsin WI | $67,586 | -3.5% |
| 31 | Utah UT | $66,443 | -5.1% |
| 32 | Tennessee TN | $64,908 | -7.3% |
| 33 | North Carolina NC | $64,855 | -7.4% |
| 34 | Missouri MO | $64,740 | -7.5% |
| 35 | Arizona AZ | $64,456 | -7.9% |
| 36 | Ohio OH | $64,225 | -8.3% |
| 37 | Indiana IN | $63,802 | -8.9% |
| 38 | Iowa IA | $63,573 | -9.2% |
| 39 | Michigan MI | $63,221 | -9.7% |
| 40 | Oklahoma OK | $62,661 | -10.5% |
| 41 | Georgia GA | $62,393 | -10.9% |
| 42 | Idaho ID | $61,836 | -11.7% |
| 43 | Louisiana LA | $61,332 | -12.4% |
| 44 | South Carolina SC | $59,995 | -14.3% |
| 45 | Arkansas AR | $59,663 | -14.8% |
| 46 | New Mexico NM | $57,652 | -17.7% |
| 47 | Kentucky KY | $57,526 | -17.8% |
| 48 | Alabama AL | $56,684 | -19.0% |
| 49 | West Virginia WV | $55,138 | -21.3% |
| 50 | Mississippi MS | $52,017 | -25.7% |
Data Source & Methodology
Per Capita Personal Income data from the Bureau of Economic Analysis (BEA) published via FRED. Insurance pricing models factor in regional income levels, property values, and litigation environments. States with higher per capita income typically have higher insurance premiums, but the premium-to-income ratio determines actual affordability.
Source: Bureau of Economic Analysis (BEA) via FRED
Series type: Annual estimate. Includes wages, salaries, proprietors income, and transfer payments.
Last updated: January 2024
Coverage: All 50 US states