Want to be in Arizona’s top 1% of earners?You’ll need to make at least $611,353.That’s according to a new Business Journals analysis of data from the IRS, which showed the cutoff for the nation’s top 1% of earners grew by 25% between 2020 and 2021 to $699,008. The data is based on the 2021 tax year and percentiles are based on total tax filers, so they don’t distinguish by marital or household status.In Arizona, the cutoff for being in the top 1% increased by 26% between 2020 and 2021 — fueled in large part by the surging salaries that accompanied the post-pandemic labor shortage and the turnover tsunami.Since 2016, the minimum cutoff to be in the top 1% of earners in Arizona has climbed by 51% — up from $405,537. Only 31,720 Arizonans earned ranked among the top 1% of earners in 2021.It’s not …
See the full Home Prices article, or, read more Arizona real estate investing news
