![This Is How Much Money You Need to Make to be in Top 5% in Montana](http://townsquare.media/site/1116/files/2023/11/attachment-Money-in-Montana-Top-5%2525.jpg?w=980&q=75)
This Is How Much Money You Need to Make to be in Top 5% in Montana
Money is on a lot of people's minds these days.
- Just today, the Montana Millionaire sold out in record time.
- The labor market is holding steady after an update from the Labor Department, according to U.S. News.
- SAG-AFTRA is still on strike, with talks resuming today.
- UAW just struck a deal with GM.
- Yet, CNBC is reporting 62% of adults live paycheck to paycheck according to LendingClub.
While it's more affordable to live in Montana compared to a lot of places in the country, Montanans still feel the pinch, like many adults do. It's common to wonder, "Could I be making more money in Montana" and that leads to questions like, "What does it mean to be rich in Montana?"
Read More: The Signs That Someone in Montana Is Really Wealthy
Being Rich in Montana
Being rich is not the same as making a lot of money. You could own land or other assets but still not be bringing as much money as others.
Related: Who, Where and How Much: Top 10 Landowners in Montana
And "being rich" might feel skewed when there are four billionaires in Montana and only just over 1 million people. The cost of housing in Montana's major cities and celebrity sightings also may make it feel like there's a lot of money in Montana, but that might not be the case.
Making Money in Montana
Montana is actually ranked 40th according to a GoBankingRates in comparison to other states in terms of how much money you need to be in the top 5%. In the #1 ranked state, New Jersey, you need $562,886 to be in the top 5% in the state.
In Montana, you need to make a little over $100,000 to be in the top 20%. But to be in the top 5%, you need to make $370,234.
LOOK: Highest-paying jobs in Missoula
Gallery Credit: Stacker
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