Depending on where you’re living in the United States, the cost of living can vary quite greatly. While your annual income could have you living good in certain parts of the country, it may not be enough to even get by elsewhere. Using data from the U.S. Census Bureau, the research team at Madison Trust Company has released this new infographic which looked into the 50 most populous cities and how much money you would need to make in each to be considered rich.
In the United States, the top 20% of the population earns $500,341 on average. This is how much money you would need to earn to be considered rich in San Jose, California, more than any other city in the country. With some of the most expensive housing costs in the United States, San Jose is the largest city in Silicon Valley, with the majority of homes costing more than $1 million. According to the data and the research that was conducted by the team at Madison Trust Company, various cities around the United States with their average income to be considered rich also included Washington, DC at $353,350, Boston at $353,292, Seattle at $346,862, New York City at $340,209, San Diego at $303,546, Los Angeles at $302,890, Denver at $292,305, and Austin at $288,435.
The top 20% of the population in San Jose earns $500,341 on average. It’s a high income place that’s home to several major companies like Adobe, eBay, PayPal, and Cisco. While San Jose sits at the top of the list, San Francisco sits just beneath it in the second spot on the ranking, at $442,934. In 2021, San Francisco was estimated to be the 13th most populous metropolitan area in the United States, and it’s home to companies like Twitter, Lyft, and Uber, among others.