Researchers found churchgoers were six per cent less likely to attend at least one service per month after a rise of around £10,000 per year.
Research fellow Dr Ingrid Storm told Premier: "When people have a substantial increase to their household income, they're less likely to go to church the next year.
"However, we didn't find to opposite effect; having a reduced income does not make people go to church more."
The data of more than 24,000 people was included in the study which supports the idea churchgoers can be attracted to other social activities and entertainment as their incomes rise.
Dr Ingrid Storm said that previous thinking surrounding church attendance sparked her interest in the area.
She said: "There's quite a well-known theory about secularisation that says that the reason why religion has been declining for a long time in the West is that people have become more economically secure, materially secure and they don't have as much need as religion."