COLUMBUS, Ohio (COLUMBUS BUSINESS FIRST) — The number of Ohioans making more than $1 million a year grew nearly 14% from 2019 to 2020, outpacing a similar surge across the nation.
The country as a whole saw its number of million-dollar earners climb 9.8% between 2019 and 2020, according to new data from the Internal Revenue Service that breaks down the number of filers based on adjusted gross income. From 2015 through 2020, both Ohio and the country saw nearly a 40% increase.
The data doesn’t take into account home equity, but the acceleration of home prices could have played a role in the surge of million-dollar earners due to income from the sale of properties.
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