Here's What You Need To Earn To Be 'Rich' In 42 Cities

NEW YORK, NY — A new report has crunched numbers to determine how much money you need to make to be considered “rich” in 42 of America's largest cities. Business Insider looked at several factors in 42 of the countries largest cities to determine what income residents need to be considered above-middle-class.

About one in five americans is considered upper-income, meaning they earned at least twice the national median household income of $59,039 in 2016, according to the Pew Research Center. Business Insider says that overall in the U.S., you’d have to earn $118,080 to be rich.

But that isn’t true for many cities where that number is actually higher or lower.

In Memphis, Tennessee, residents must earn at least $99,618 to be rich. That might seem steep, but at least it's not San Jose, California.

In San Jose, residents have to earn a whopping $220,080 or more to be considered rich, the report said.

Here are some other cities on the list:

New York City

• Income needed to be considered rich: $143,794
• Money it takes to be in the top 1 percent in New York: $517,557
• Median income in New York City: $71,897
• Metro-area population: 20.2 million

Seattle

• Income needed to be considered rich: $157,224
• Money it takes to be in the top 1 percent in Washington: $387,854
• Median income in Seattle: $78,612
• Metro-area population: 3.8 million

San Francisco

• Income needed to be considered rich: $193,354
• Money it takes to be in the top 1 percent in California: $453,772
• Median income in San Francisco: $96,677
• Metro-area population: 4.7 million

Click here to read the full report.

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