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Saturday, April 22, 2017

Here’s how much you need to earn to be in the top 1% for the 15 largest cities in the US

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The Bean Chicago

If you’re in your hometown’s top 1% of earners, there’s no doubt that you’re doing well for yourself.

But not all one-percenters are created equal.

The Economic Policy Institute calculated how much money puts a household in the top 1% of income earners in every metropolitan area in the US. For the US overall, the income threshold required to be in the 1% of earners is $389,436 pre-tax, but for populous places like San Francisco and Houston, that number rises to $785,946 and $606,286, respectively.

Below, we’ve highlighted the annual household income required to be in the top 1% for the 15 largest cities in the US, as determined by the Census Bureau. (But keep in mind that the income thresholds listed apply to the entire metropolitan areas.) We’ve also included median household income — in 2015 dollars — for comparison purposes.

How do you stack up?

SEE ALSO: The 25 most expensive housing markets in the US

DON’T MISS: Here’s how much you need to earn to be in the top 1% of every US state

Columbus, Ohio

Population: 850,106

Income required to be in the top 1%: $379,250

Median household income: $45,659

Indianapolis

Population: 853,173

Income required to be in the top 1%: $405,486

Median household income: $41,987

San Francisco

Population: 864,816

Income required to be in the top 1%: $785,946

Median household income: $81,294

See the rest of the story at Business Insider

April 22, 2017 at 12:04AM

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from Business Insider

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