How much money you need to be considered rich in 12 major U.S. cities [Video]

Americans say you need a net worth of at least $2.5 million to feel wealthy, according to Charles Schwab’s annual Modern Wealth Survey, which surveyed 1,000 Americans ages 21 to 75 in March 2024.

That’s up slightly from $2.2 million, compared with last year’s survey results.

However, a net worth of $2.5 million might not be enough to feel rich in some of the most expensive U.S. cities. In San Francisco, residents say you need a net worth of $4.4 million to be considered wealthy — the highest among 12 major cities surveyed.

Only 16% of the 750 residents surveyed in San Francisco say they’re on top of their finances, with most citing the city’s high cost of living and outsized home prices as the biggest roadblocks to building more wealth.

DON’T MISS: How to be more successful with your money

Here’s a look at the net worth you need to be considered wealthy in 12 major U.S. cities, based on a survey sample …