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.

To receive our free newsletter, contact us here.

Subscribe our YouTube Channel for more updates.

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

 

 

GROCO.com is a proud sponsor of The American Dreams Show.

 

The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business. Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.

The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most. They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more.

MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness.  It’s mission statement:

In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges. Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.