Owning an iPhone or iPad in the United States is a strong sign that you make a lot of money, reported Business Insider.

Across all years in our data, no individual brand is as predictive of being high-income as owning an Apple iPhone in 2016, the report said citing a new National Bureau of Economic Research working paper from University of Chicago.

There are details and caveats to the research, but the economists, Marianne Bertrand and Emir Kamenica, found that owning an iPhone gave them a 69% chance to correctly infer that the owner was "high-income," the report said.

iPhones being closely correlated with high income is a recent trend, said report said, adding that owning an Android phone or using Verizon are strong indicators of being high-income as well.

The researchers used data from Mediamark Research Intelligence, which had a sample size of 6,394. The data includes bi-annual questionnaires as well as information like household income from a face-to-face interview, it added.