How Much Income Makes You “Rich” in North and South Carolina?

Now, the definition of "rich" can certainly differ from state to state, but also from person to person. Some consider themselves rich as long they are well of and able to afford the things they need. While others may feel like being rich is a threshold to having an excessive amount of money. The crazy part is that each state really does have a different definition of rich. From homes costing more in certain areas to the cost of living differing in others.

Well, being rich is, in theory, an idea but there is a threshold that makes you "rich" in some states. But, how much do you have to earn to be rich here in the Carolinas? Go Banking Rates is listing how much you need to earn to be rich in every state. We're taking a deep dive into the earnings that are considered rich in North and South Carolina. Coming in at No. 41 on the list was South Carolina. In South Carolina, to be in the top 5% of income, you would have to make at least $374,427 a year. The minimum income to be in the top 20% is $116,032. But, what about North Carolina?

North Carolina is a little bit different. In North Carolina, to be in the top 5% you will need to make a minimum of $390,822. That's nearly $20,000 more a year than in South Carolina. To be in the top 20% of income, you will need to make a minimum of $121,139 a year. So, are you in the top 20% of either North or South Carolina? Check out the full list here to see what other states consider a "rich" income.

Fun fact, some of the richest people in the world actually live right here in our backyard.  I actually mean billionaires who you may not know but actually interact with regularly without knowing live right here in the Tar Heel State.  From those who have created software to clinical research to video game creators.  Suburbs 101 top 5 lists of the richest people in the state of North Carolina are all billionaires. WOW!?

Mark Rein is 59 and resides in Raleigh, NC.  He co-founded Epic Games with Tim Sweeney and has a net worth of $1.1 billion.  He is the 2450th richest person in the world.

Dennis Gillings resides in Durham, NC and his net worth is $2.2 billion.  Dennis became wealthy from Quintiles Transnational, clinical trials, and a research firm.  He is the 1397th richest person in the world.

The third richest man in North Carolina is John Sall.  He is the co-founder of SAS with James Goodnight and he is the 841st richest person in the world with a net worth of $3.4 billion.

James is the 2nd richest person in the state of North Carolina and a resident of Cary, NC.  He is the co-founder of SAS which makes him the 2nd richest person in the state of North Carolina.

Tim Sweeney is the richest person that lives in North Carolina.  He resides in Cary, NC, and has a net worth of $7.6 billion and is a self-made billionaire because he is the co-founder of Epic Games which is the maker of popular games like Fortnite and Rocket League.  He is also the 295th richest person in the world.