TAMPA FL – A new report has crunched numbers to determine how much money you need to make to be considered "rich" in Tampa. 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, including Tampa, where that number is actually lower.
Money it takes to be considered rich in Tampa: more than $102,230Money it takes to be in the top 1 percent in Florida: $385,410Median income in Tampa: $51,115Metro-area population: 3 million
In Memphis, Tennessee, you’re considered rich if you make $99,618, which ranked at the bottom on the list of cities. Tampa ranked right behind Memphis in the bottom spots followed by Miami, Cleveland, Ohio, and Las Vegas, Nevada. But at least we’re not San Jose, California.
In San Jose, residents have to earn a whopping $220,080 or more to be considered rich.
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
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
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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