Based on 2021 data, you would need to earn $149,132 or more to be considered upper class in the U.S. While $149,132 might be a good income in a place like Huntsville, Alabama, it does not provide the same standard of living in other major cities.
To make it into the "upper class" bracket, your income must fall in the top 20%. However, the top 20% of income earners in some pockets of the country earn far more than the national average. According to the U.S. Census data, here's what it takes to be upper class in the 25 most populous U.S. cities.
| City | Metro area | Mean income of the top 20% |
|---|
| San Jose, California | San Jose-Sunnyvale-Santa Clara | $500,341 |
| San Francisco, California | San Francisco-Oakland-Berkeley | $442,934 |
| Washington, D.C. | Washington-Arlington-Alexandria, DC-Virginia | $353,350 |
| Boston, Massachusetts | Boston-Cambridge-Newton | 353,292 |
| Seattle, Washington | Seattle-Tacoma-Bellevue | $346,862 |
| New York, NY | New York-Newark-Jersey City, New York-New Jersey | $340,209 |
| San Diego, California | San Diego-Chula Vista-Carlsbad | $303,546 |
| Los Angeles, California | Los Angeles-Long Beach-Anaheim | $302,890 |
| Denver, Colorado | Denver-Aurora-Lakewood | $292,305 |
| Austin, Texas | Austin-Round Rock-Georgetown | $288,453 |
| Baltimore, Maryland | Baltimore-Columbia-Towson | $286,736 |
| Chicago, Illinois | Chicago-Naperville-Elgin | $279,943 |
| Philadelphia, Pennsylvania | Philadelphia-Camden-Wilmington Pennsylvania-New Jersey-Delaware | $279,362 |
| Minneapolis, Minnesota | Minneapolis-St. Paul-Bloomington | $275,185 |
| Raleigh, North Carolina | Raleigh-Cary | $273,011 |
| Sacramento, California | Sacramento-Roseville-Folsom | $271,415 |
| Atlanta, Georgia | Atlanta-Sandy Springs-Alpharetta | $267,747 |
| Hartford, Connecticut | Hartford-East Hartford-Middletown | $267,012 |
| Dallas, Texas | Dallas-Fort Worth-Arlington | $265,858 |
| Portland, Oregon | Portland-Vancouver-Hillsboro | $265,594 |
| Nashville, Tennessee | Nashville-Davidson-Murfreesboro-Franklin | $261,974 |
| Houston, Texas | Houston-The Woodlands-Sugar Land | $260,958 |
| Miami, Florida | Miami-Fort Lauderdale-Pompano Beach | $258,049 |
| Charlotte, North Carolina | Charlotte-Concord-Gastonia | $253,175 |
| Phoenix, Arizona | Phoenix-Mesa-Chandler | $252,783 |
Source: Madison Trust Company
If you want to join the upper class in your city, consider following these habits of the wealthy.
1. They don't allow their money to sit around doing nothing
The wealthy do not leave large sums of money sitting in a checking account. Their money needs to be working for them at all times. For the rest of us, that means leaving only the funds we need to pay bills in checking and finding somewhere else our money can grow. That "somewhere else" may be a high-yield savings account or certificate of deposit (CD).
2. They live below their means
Those who rake in the dough are typically less interested in what other people think of their "fabulous" lives and more interested in keeping their eye on the ball. That means always living on far less money than they earn. That way, if things go south for a time, they don't have to scramble to stay on top of debt payments and other bills.
3. They keep an eye on their personal finances
The wealthy watch the ebb and flow of their monthly budget, monitoring how much money they're bringing in and how much their bills are for that month. One thing you can do if you feel like you're financially stuck is to review or rebuild a monthly budget and use it to decide where tweaks can be made to lower your bills and increase your income.
4. They avoid paying interest
Here's what the wealthy know: It is better to earn interest than to pay interest. That means things like paying your credit card bill off in full each month before the next billing cycle begins. It may mean waiting until interest rates cool to make a major purchase, like a home or vehicle. Finally, the more you can put down on any major purchase, the less interest you'll end up paying.
5. They make investing a habit
Whether they were born into money or not, the wealthy habitually invest, and the earlier they begin, the more money they end up with. For the average investor, it's about figuring out an amount we can comfortably afford to invest and sticking with it. Each year, as we can afford a bit more, we add that to our regular investments. Finally, we need to commit for the long term.
The good news is that more than two-thirds of millionaires are self-made. You don't have to be born wealthy to build wealth.
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FAQs
A Business Insider analysis of 2022 US Census Bureau data, the latest year for which data is available, has found that 21.1% of people in Washington, DC, are considered upper class, with household incomes above $202,000. Meanwhile, just 14.4% of Alaskan households are upper class, earning above $176,000.
What salary is considered rich in the USA? ›
You'll need to earn more than half a million annually to be considered among the highest earning residents in 11 states and Washington, D.C. "This comes down to cost of living," Murray said.
What is middle class income in major US cities? ›
What is the average middle class income? In 2024, a large U.S. city's middle-class income averages between $52,000 and $155,000, with the median household income across all 345 cities at $77,345, making middle-class income limits fall between $51,558 and $154,590, SmartAsset noted.
What is top 5 household income in the US? ›
How much do you need to earn to be in the top 5% income bracket? For those in the top 5%, the figure rises even more. According to the same research, those in the top 5% earned an average of $335,891 in 2021. This is an increase of around $19,000 from the previous year.
Is 100k a year upper class? ›
One common way to classify the upper middle class is based on income. The upper middle class is often defined as the top 15% to 20% of earners. According to the Social Security Administration's 2022 wage data, the average upper-middle-class income was roughly between $80,000 and $100,000.
Am I in the upper class? ›
Middle class: Those in the 40th to 60th percentile of household income, ranging from $55,001 to $89,744. Upper middle class: Households in the 60th to 80th percentile, with incomes between $89,745 and $149,131. Upper class: The top 20% of earners, with household incomes of $149,132 or more.
At what point are you considered rich in America? ›
For example, you may be considered rich if you're in the nation's top 1% of earners. In 2022, that group saw an average annual income from wages of $785,968—nearly 19 times higher than the bottom 90%, according to the Economic Policy Institute Open in new tab.
What is the top 10% salary in the US? ›
The top 10% of household incomes starts at $191,406, the top 5% at $290,406, and the top 1% at $867,436. Those are the nationwide numbers, but they also vary considerably if you account for other factors, such as age or location. Income is a key part of personal finance, but it's not all that matters.
What is considered rich in Florida? ›
The Florida rich
So, how much would you need to earn to be ranked as rich in Florida? The average income of the top 5% in the state was $476,546 in 2022, the analysis shows. That's a 34% increase from the $355,610 the top 5% earned on average in 2017.
What is the difference between upper middle class and upper class? ›
Upper middle class might mean earning 15-50% above the median with a comfortable financial cushion, while the upper class generally refers to the top 1-3% earners with substantial wealth and investment-derived income,” said Jeff Rose, CFP and founder of Good Financial Cents.
The average UPPER CLASS SALARY in the United States as of May 2024 is $28.70 an hour or $59699 per year. Get paid what you're worth!
What are the five income classes? ›
Where you rank by income
- Lower class: less than or equal to $30,000.
- Lower-middle class: $30,001 – $58,020.
- Middle class: $58,021 – $94,000.
- Upper-middle class: $94,001 – $153,000.
- Upper class: greater than $153,000.
New Jersey topped a U.S. News & World Report ranking of the richest states in the U.S. The ranking, published in November, used the U.S. Census Bureau's American Community Survey estimates from 2022 to identify states with the highest median household income.
What salary is wealthy? ›
Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.
How do you know how wealthy you are? ›
The main measure of wealth is net worth: the total value of your household's assets (like houses and savings), minus debts (like mortgages and student loans).
What net worth is considered upper middle class? ›
Middle Class (Middle 20%): The median net worth is $104,700. This includes individuals in their forties who have paid off some debt and accrued home equity. Upper-Middle Class (Next 20%): The median net worth is $201,800. This group often enjoys more discretionary income and benefits from long-term investments.
Is A Millionaire an upper class? ›
According to research from Ameriprise Financial, 91% of U.S. millionaires don't classify themselves as upper-class rich. The study also found that 60% and 31% of investors with $1 million or more surveyed consider themselves as “upper middle class” and “part of the middle class,” respectively.
How do you define upper class? ›
upper class. the group of people who have the highest position and the most social and economic influence in a society. (Definition of upper class from the Cambridge Academic Content Dictionary © Cambridge University Press)
What income is working class? ›
As of May 14, 2024, the average weekly pay for a Working Class in California is $1,440 a week. While ZipRecruiter is seeing salaries as high as $2,031 and as low as $674, the majority of Working Class salaries currently range between $1,251 (25th percentile) to $1,669 (75th percentile) in California.
