Shutterstock
Everyone’s definition of being “rich” is different. It’s all about your perspective and ideals. But have you ever wondered exactly how much money you have to earn to technically be considered rich? Well, it depends on the city, but here are some answers.
According to the Pew Research Center, about 20 percent of Americans can be considered rich or “upper-income.” To fall into this category you need to earn double the median household income for where you live. (Middle-income households have an income that is two-thirds to double that number.)
Now, to find out what those numbers are for various metropolitan areas, the folks over at Business Insider used census data from the 27 largest metro areas in America and came up with answers to…
“How much money you have to earn to technically be considered rich?”
— Atlanta, Georgia: More than $125,226
— Baltimore, Maryland: More than $153,576
— Boston, Massachusetts: More than $164,760
Shutterstock
— Charlotte, North Carolina: More than $119,958
— Chicago, Illinois: More than $132,040
— Dallas, Texas: More than $127,624
— Denver, Colorado: More than $143,852
— Detroit, Michigan: More than $112,284
— Houston, Texas: More than $123,416
— Los Angeles, California: More than $131,900
Shutterstock
— Miami, Florida: More than $102,724
— Minneapolis, Minnesota: More than $146,462
— New York City: More than $143,794
— Orlando, Florida: More than $104,770
— Philadelphia, Pennsylvania: More than $131,992
— Phoenix, Arizona: More than $116,150
— Pittsburgh, Pennsylvania: More than $112,126
Shutterstock
— Portland, Oregon: More than $137,352
— Riverside, California: More than $116,472
— Sacramento, California: More than $128,104
— St. Louis, Missouri: More than $119,560
— San Antonio, Texas: More than $112,210
— San Diego, California: More than $141,648
— San Francisco, California: More than $193,354
— Seattle, Washington: More than $157,224
— Tampa, Florida: More than $102,230
— Washington, DC: More than $191,686
In not very surprising news, San Francisco requires the highest income to be considered “rich” out of all these metro areas. Washington D.C., Boston and Seattle also being in the top five is not terribly shocking, but Baltimore? Must be all those people who live there and work inside the Beltway.
Minneapolis, Minnesota coming sixth is also somewhat unexpected, but Denver, New York City, San Diego and Portland all making it into the top ten certainly makes sense. Chicago, Philly and Los Angeles fell just outside of the top ten.
Business Insider also calculated how much money it takes to be in the top 1% in each location’s state. You can view those numbers here.