In the US, it takes a net worth of $2.2 million to be considered “wealthy” by other Americans — up from $1.9 million last year, according to financial services company Charles Schwab’s annual Modern Wealth Survey.
To be considered rich by residents of large metropolitan areas requires even more wealth. Depending on where one lives, a net worth totalling millions of dollars may still be considered merely “comfortable,” according to new survey.
In San Francisco, the threshold for what’s considered wealthy is a net worth of $5.1 million. That’s the highest total in the survey, which examined 12 of the biggest metropolitan areas in the country.
To be considered “financially comfortable,” a resident of San Francisco would need a net worth of at least $1.7 million.
Here’s a look at what it takes to be considered wealthy by city in 2022, as ranked by net worth thresholds:
- San Francisco: $5.1 million
- Southern California (includes Los Angeles and San Diego): $3.9 million
- New York City: $3.4 million
- Washington, DC: $3.3 million
- Seattle: $3.2 million
- Phoenix: $2.7 million
- Boston: $2.7 million
- Dallas: $2.6 million
- Houston: $2.6 million
- Atlanta: $2.5 million
- Chicago: $2.5 million
- Denver: $2.3 million
The online survey was conducted by Logica Research from February 8, 2022 to February 27, 2022, among a national sample of 1,000 Americans aged 21 to 75. Quotas were set to balance the national sample on key demographic variables.