Curious How Much You Need To Be Rich In 50 Major US Cities? Keep reading!
All over the world, if you are earning more than the top 20% of the people, you are considered rich, but each city’s top 20% is different because of the population and the general income level.
We will see 50 Major US Cities’ requirements to be rich and how much you need to earn.
What Rich Means
To be considered rich around the world, there are several things you need to fulfill. Some cities require you to have a combination of all of them, and some cities require just one.
In the United States, generally, the case is that if you are earning in the top 20%, you are considered rich.
For example, in San Francisco, one of the most expensive cities in the country, you need to earn at least $239 thousand minimum annually to be considered rich, but of course, the average income for those in the top 20% is much higher, generally the double of the minimum amount but the minimum threshold is the limit to be rich.
- San Francisco
The minimum annual income for the top 20% is $239 thousand.
- San Jose
The minimum annual income for the top 20% is $214 thousand.
- Washington, District of Columbia
The minimum annual income for the top 20% is $189 thousand.
- Seattle
The minimum annual income for the top 20% is $186 thousand.
- Oakland, California
The minimum annual income for the top 20% is $161 thousand.
- Boston
The minimum annual income for the top 20% is $159 thousand.
- San Diego
The minimum annual income for the top 20% is $157 thousand.
- Austin
The minimum annual income for the top 20% is $145 thousand.
- New York
The minimum annual income for the top 20% is $144 thousand.
- Denver
The minimum annual income for the top 20% is $141,8 thousand.
- Atlanta
The minimum annual income for the top 20% is $141,3 thousand.
- Portland
The minimum annual income for the top 20% is $140 thousand.
- Los Angeles
The minimum annual income for the top 20% is $135 thousand.
- Virginia Beach
The minimum annual income for the top 20% is $134 thousand.
- Raleigh
The minimum annual income for the top 20% is $131 thousand.
- Minneapolis
The minimum annual income for the top 20% is $130 thousand.
- Chicago
The minimum annual income for the top 20% is $129,7 thousand.
- Charlotte
The minimum annual income for the top 20% is $129,04 thousand.
- Long Beach
The minimum annual income for the top 20% is $127 thousand.
- Colorado Springs
The minimum annual income for the top 20% is $122 thousand.
- Sacramento
The minimum annual income for the top 20% is $121 thousand.
- Fort Worth
The minimum annual income for the top 20% is $120 thousand.
- Arlington
The minimum annual income for the top 20% is $116,8 thousand.
- Omaha
The minimum annual income for the top 20% is $116,6 thousand.
- Houston
The minimum annual income for the top 20% is $115,7 thousand.
- Nashville
The minimum annual income for the top 20% is $115,6 thousand.
- Phoenix
The minimum annual income for the top 20% is $114 thousand.
- Dallas
The minimum annual income for the top 20% is $112 thousand.
- Las Vegas
The minimum annual income for the top 20% is $111 thousand.
- Mesa
The minimum annual income for the top 20% is $110 thousand.
- Oklahoma City
The minimum annual income for the top 20% is $109,6 thousand.
- Kansas City
The minimum annual income for the top 20% is $109,2 thousand.
- Baltimore
The minimum annual income for the top 20% is $109,1 thousand.
- Albuquerque
The minimum annual income for the top 20% is $106,86 thousand.
- Louisville
The minimum annual income for the top 20% is $106,8 thousand.
- Jacksonville
The minimum annual income for the top 20% is $105 thousand.
- Wichita
The minimum annual income for the top 20% is $104 thousand.
- San Antonio
The minimum annual income for the top 20% is $103,4 thousand.
- New Orleans
The minimum annual income for the top 20% is $103,1 thousand.
- Fresno
The minimum annual income for the top 20% is $102 thousand.
- Columbus
The minimum annual income for the top 20% is $101,7 thousand.
- Philadelphia
The minimum annual income for the top 20% is $101,2 thousand.
- Tulsa
The minimum annual income for the top 20% is $100 thousand.
- Indianapolis
The minimum annual income for the top 20% is $97 thousand.
- El Paso
The minimum annual income for the top 20% is $94 thousand.
- Miami
The minimum annual income for the top 20% is $92 thousand.
- Memphis
The minimum annual income for the top 20% is $86,9 thousand.
- Tucson
The minimum annual income for the top 20% is $86,7 thousand.
- Milwaukee
The minimum annual income for the top 20% is $84 thousand.
- Detroit
The minimum annual income for the top 20% is $66 thousand.
The Verdict
As you can see, each city’s requirement is different, and the bigger the city, the higher the need to have a certain amount of money to be considered rich.
This is mainly due to tax issues and the number of people willing to move to that city with a certain amount of money.
Amit Gupta is the founder of National Planning Cycles, a company that helps startups, individuals, and small businesses with their financial planning. He has a vast amount of experience in the finance sector, having managed Google Play accounts for some of the world’s most successful unicorns. Amit is an expert in his field, and he uses his knowledge to help others achieve their individual goals.