Salaries of American Cities To Be Considered Wealthy
What are the salaries required within most American cities to be considered wealthy? We spend a lot of time on this website discussing the nation’s wealthiest individuals. Of course, most people in the United States know who the nation’s top earners are. Names like Warren Buffet, Bill Gates, Paul Allen, and Mark Zuckerberg are very well known. However, what does it really take to be one of the nation’s wealthiest individuals? Let’s break it down by looking at how much you need to make to be amongst the richest people in the largest U.S. cities.
San Jose, California
It takes $225,852 to be in the top 10%, $298,164 to be in the top 5%, and $517,000 to be in the top 1% in San Jose.
San Diego, California
Coming in at number 8 is San Diego California. This beautiful coastal city does have a high cost of living, which isn’t too much of problem for the top earners. To reach the top 10% in income you will need to make at least $163,080. The top 5% make at least $215,800 and the top 1% makes $428,000 or more.
San Antonio, Texas
We go back to Texas for number 7 on the list. In San Antonio you need a minimum of $128,575 to reach the top 10%, $170,030 to be in the top 5% and $357,000 for the highest bracket.
Phoenix, Arizona
In Phoenix it requires $139,000 of income to be in the top 10%, $187,000 to reach the top 5% and $381,151 to be in the top 1%.
Philadelphia, Pennsylvania
Next on the list is Philadelphia, which requires an income of at least $164,098 to reach the top 10% of earners. If you want to move into the top 5% then you’ll have to bring home at least $215,724 a year and to get to the top 1% your income has to be a minimum of $424,552.
Houston, Texas
Number four takes us back to the Lone Star State again, where in Houston you will need to earn at least $156,557 to be in the top 10%. It takes $216,189 of income to be in the top 5% and $423,345 to push your way into the top 1%.
Chicago, Illinois
The Windy City comes in at number three, where you will need $163,059 of income to get into the to 10%. If you want to make the top 5% then you’ll need to make no less than $218,557 and to be in the top bracket it will take a minimum of $479,844.
Los Angeles, California
You’ll need at least $159,008 to make the top 10% in the City of Angels, while $218,018 will put you in the top 5%. But to reach the top 1% you’ll need no less than $466,895.
We hope you found this article about “Salaries of American Cities To Be Considered Wealthy” helpful. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
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Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
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