To be considered wealthy, it turns out you need a pretty hefty net worth, especially in major American cities. For instance, across the U.S., you’d need a net worth of about $2.2 million—a figure that’s climbed from $1.9 million the previous year. This increase isn’t surprising given the rising inflation and housing costs.
Each city has its own threshold for wealth. San Francisco tops the list where you need around $5.1 million to be considered wealthy. This is a steep increase from $3.8 million just a year before. Other cities like Southern California, New York City, and Washington, D.C., have their own set standards ranging from about $3.9 million in Southern California to $3.3 million in D.C.
The survey that informed these figures was conducted in early 2022, sampling 500 to 750 residents per metropolitan area. This data reveals a snapshot of how perceptions of wealth have evolved, especially considering the volatile stock market and the rebounding economic conditions in the following years.
For a more granular example, in San Francisco, even to be deemed “financially comfortable” requires a net worth of at least $1.71 million. Interestingly, $3 million seems to be the new benchmark across the country for being considered wealthy, with $2 million being the lowest end of that wealthy spectrum.
The notion of wealth is also contextual to the local economy, as seen in the Financial Samurai Wealth Reality Ratio—a measure created to assess wealth expectations against reality. This ratio helps explain why residents in cities like Phoenix, Dallas, Atlanta, Houston, and Chicago may feel financially strained as their expected wealth thresholds are high compared to their economic environments.
This survey provides a reflective look at what it means to be wealthy in various U.S. cities and underscores the dynamic nature of financial status in different urban landscapes.
