SAN FRANCISCO (KRON) — Being ‘rich’ could be considered subjective; there may not be a definitive amount of money one needs to make to be considered rich.
Recent data analysis by Go Banking Rates shows how much one needs to make to be considered ‘rich’ in 50 U.S. cities.
Three of the top five cities are in the Bay Area — starting with Oakland at five, San Jose at two, and San Francisco at one.
One being the highest average income needed to be considered rich, meaning being a Top 20 percent earner of that city, according to the analysis.
The lowest average income to be considered in rich Oakland is $161,345.
In comparison, that number stands at $66,139 for 50th-ranked Detroit — almost a $100,000 difference.
To be considered rich in San Jose, one needs to make an average of at least $214,975.
That number is at $239,840 for San Francisco.
Below is the list of the top 10 cities with the highest average income needed to be considered ‘rich’
|Rank||City||Lowest Average Income to be Considered ‘Rich”|
|1||San Francisco, Calif.||$239,840|
|2||San Jose, Calif.||$214,975|
|3||Washington, District of Columbia||$189,293|
|7||San Diego, Calif.||$157,252|
|9||New York, NY||$144,541|
Other California cities on the list include Los Angeles ($135,373) ranked 13th, Long Beach ($127,021) ranked 19th, and Sacramento ($121, 986) ranked 21st.