What It Takes to Be Rich—Where You Live

Whether you feel wealthy depends on a lot more than your income

By Rick Newman

Posted: October 9, 2008

Whether you're rich obviously depends on how much money you have—but also on where you live and how many people your household income supports. We crunched some numbers from the Census Bureau to reveal what it takes to be a top earner in 40 of the largest metro areas. (View our methodology.) And since people define "rich" differently, we calculated average incomes for the top 20 percent of households, and the top 5 percent, in each city. Finally, we estimated what would constitute a "rich" income for a couple with no kids, and for a family of four, in each scenario. Here's what it takes to be wealthy—and very wealthy—across America:

  Top 20 percent of households   Top 5 percent of households
City/Metro area Average household income "Rich" couple, no kids "Rich" family of 4   Average household income "Rich" couple, no kids "Rich" family of 4
Albuquerque, NM $146,554 $115,397 $230,794   $245,723 $193,483 $386,965
Atlanta, GA $191,386 $150,698 $301,395   $340,695 $268,264 $536,528
Austin, TX $184,131 $144,985 $289,970   $318,173 $250,530 $501,060
Baltimore, MD $201,156 $158,391 $316,781   $341,516 $268,910 $537,820
Boston, MA $225,726 $177,737 $355,474   $402,099 $316,613 $633,227
Charlotte, NC $181,381 $142,820 $285,639   $319,692 $251,726 $503,452
Chicago, IL $200,800 $158,110 $316,220   $367,200 $289,134 $578,268
Cleveland, OH $157,682 $124,159 $248,318   $278,287 $219,124 $438,247
Colorado Springs, CO $160,895 $126,689 $253,378   $263,489 $207,472 $414,943
Columbus, OH $164,162 $129,261 $258,523   $278,996 $219,682 $439,364
Dallas, TX $189,245 $149,012 $298,024   $339,527 $267,344 $534,688
Denver, CO $187,582 $147,702 $295,405   $330,176 $259,981 $519,962
Detroit, MI $168,245 $132,476 $264,953   $285,809 $225,046 $450,093
El Paso, TX $126,928 $99,943 $199,887   $222,454 $175,161 $350,321
Fresno, CA $153,601 $120,946 $241,891   $260,793 $205,349 $410,698
Honolulu, HI $184,787 $145,502 $291,003   $298,691 $235,190 $470,380
Houston, TX $195,353 $153,821 $307,643   $350,665 $276,114 $552,228
Indianapolis, IN $170,670 $134,386 $268,772   $304,005 $239,374 $478,748
Jacksonville, FL $167,859 $132,172 $264,345   $304,955 $240,122 $480,244
Kansas City, KS $164,870 $129,819 $259,638   $278,511 $219,300 $438,600
Las Vegas, NV $173,144 $136,334 $272,668   $305,256 $240,359 $480,718
Los Angeles, CA $216,567 $170,525 $341,050   $401,315 $315,996 $631,992
Louisville, KY $150,710 $118,669 $237,339   $269,433 $212,152 $424,304
Memphis, TN $165,387 $130,226 $260,452   $305,545 $240,587 $481,173
Miami, FL $187,243 $147,435 $294,871   $355,299 $279,763 $559,526
Milwaukee, WI $165,467 $130,289 $260,578   $288,831 $227,426 $454,852
Minneapolis, MN $192,903 $151,892 $303,784   $335,240 $263,969 $527,937
Nashville, TN $175,645 $138,303 $276,606   $333,520 $262,614 $525,228
New York, NY $240,112 $189,065 $378,129   $456,558 $359,494 $718,989
Oklahoma City, OK $158,793 $125,034 $250,068   $295,506 $232,682 $465,364
Omaha, NE $155,991 $122,828 $245,655   $262,914 $207,019 $414,038
Philadelphia, PA $195,024 $153,562 $307,124   $345,676 $272,186 $544,372
Phoenix, AZ $173,039 $136,251 $272,502   $303,711 $239,143 $478,285
Portland, OR $173,221 $136,394 $272,789   $303,647 $239,092 $478,184
Sacramento, CA $176,419 $138,913 $277,825   $285,670 $224,937 $449,874
San Antonio, TX $155,210 $122,213 $244,425   $272,217 $214,344 $428,688
San Diego, CA $200,204 $157,641 $315,282   $342,385 $269,594 $539,189
San Francisco, CA $257,399 $202,676 $405,353   $456,008 $359,061 $718,123
San Jose, CA $267,380 $210,535 $421,071   $450,231 $354,513 $709,025
Seattle, WA $198,866 $156,587 $313,175   $349,529 $275,220 $550,439
Washington, DC $255,980 $201,559 $403,118   $441,854 $347,917 $695,833
U.S. $173,953 $136,971 $273,942   $311,427 $245,218 $490,436
thank god i'm not in these charts ... (re-edit)

Every time I wake up an go into the shower, I thank god that I live in the 21st century and have a warm waterfall to get clean every day of my life. After some recent visits to 3rd-world countries, it's the little things like this that make me VERY happy !!!

Yes, ALL americans are rich. And the benefits of making $300k vs. making $100k are hardly noticeable any more. In fact, the Japanese know this and there is a price point, somewhere around the Toyota Camry, where they put their absolute best engineers and best car-builders, and these are the best cars on the planet. The rich go and waste their hard-earned money on gas guzzlers like Lamborghinis, which spend a significant amount of time in the shop, broken, and so the rich are not as happy as everyone thinks. The same is true of many products "marketed to the rich".

Being squarely middle class, or just slightly above middle class, is the optimal life style in the USA. The temptation to work yourself to the bone kills many of the top-5%-ers in their mid-50's. Here in America, heart disease, nervous breakdowns, marital breakdowns, drug abuse (think michael jackson), no-job = no-self-respect, and distant or resentful kids are some of the MANY afflictions of being in the top-5% that aren't mentioned in this article ...

systemBuilder of CA @ Sep 08, 2009 12:25:03 PM

thank god i'm not in these charts ... (re-edit)

Every time I wake up an go into the shower, I thank god that I live in the 21st century and have a warm waterfall to get clean every day of my life. After some recent visits to 3rd-world countries, it's the little things like this that make me VERY happy !!!

Yes, ALL americans are rich. And the benefits of making $300k vs. making $100k are hardly noticeable any more. In fact, the Japanese know this and there is a price point, somewhere around the Toyota Camry, where they put their absolute best engineers and best car-builders, and these are the best cars on the planet. The rich go and waste their hard-earned money on gas guzzlers like Lamborghinis, which spend a significant amount of time in the shop, broken, and so the rich are not as happy as everyone thinks. The same is true of many products "marketed to the rich".

Being squarely middle class, or just slightly above middle class, is the optimal life style in the USA. The temptation to work yourself to the bone kills many of the top-5%-ers in their mid-50's. Here in America, heart disease, nervous breakdowns, marital breakdowns, drug abuse (think michael jackson), no-job = no-self-respect, and distant or resentful kids are some of the MANY afflictions of being in the top-5% that aren't mentioned in this article ...

systemBuilder of CA @ Sep 08, 2009 12:24:08 PM

thank god i'm not in these charts ...

Every time I wake up an go into the shower and get me clean every day of my life. After some recent visits to 3rd-world countries, it's the little things like this that make me VERY happy !!!

Yes, ALL americans are rich. And the benefits of making $300k vs. making $100k are hardly noticeable any more. In fact, the Japanese know this and there is a price point, somewhere around the Toyotoa Camry, where they put there absolute best engineers and best car-builders, and these are the best cars on the planet. The rich go and waste their hard-earned money on gas guzzlers like Lamborghinis and they spend a significant amount of time in the shop, broken, and so the rich are not as happy as everyone thinks. The same is true of many products marketed to "the rich".

Being squarely middle class, or just slightly above middle class, is the optimal life style in the USA. The temptation to work yourself to the bone kills many of the top-5%-ers in their mid-50's, here in America (heart disturn it on, I thank god that I live in the 21st century and have a warm waterfall to ease, nervous breakdowns, marital breakdowns, distant or resentful kids are some of the other aspects of being in the top-5% that aren't mentioned in this article ...

systemBuilder of CA @ Sep 08, 2009 12:17:39 PM

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