Salary to be Considered 'Rich' Rises in Every State in the Last Five Years Due to Inflation

Published: 27 April 2024 at 07:09

Finance & Economics

The definition of 'rich' in the U.S. has changed with GOBankingRates reporting that in Washington state, individuals must now earn $544,518 to be among the top 5% of earners, up from $378,374 in 2017. In Nevada, the required earnings jumped by 40.41% to $449,872. In Las Vegas, rising housing costs due to an influx of wealthy Californians have impacted residents. The study compares salary data from 2017 to 2022, showing a significant increase in the income threshold to be considered rich.

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$Salary to be Considered \'Rich\' Rises in Every State in the Last Five Years Due to Inflation$ $Salary to be Considered \'Rich\' Rises in Every State in the Last Five Years Due to Inflation$

SOURCES

Here's how much income it takes to be considered rich in your state

CBS News

Revealed: How much more you need to earn than 5 years ago to be 'rich'

Tilly Armstrong Assistant Consumer