To be considered wealthy in the U.S., Americans say you need a net worth of $2.3 million in 2025 — but that number can be even higher depending on where you live.
It’s down from $2.5 million last year, according to Charles Schwab’s latest Modern Wealth Survey, which polled 2,000 adults nationwide between April 24 and May 23.
While the wealth benchmark has decreased, nearly two-thirds of respondents say it feels harder to reach. Inflation, high interest rates and broader economic uncertainty were the most commonly cited reasons.
Here’s how much Americans say you need to be considered wealthy, by region:
- West: $3 million
- Northeast: $2.4 million
- Midwest: $2.1 million
- South: $1.8 million
You need the highest net worth to be considered rich in Western states, including California, Washington and Colorado.
That may be unsurprising given the region’s high cost of living — especially in California, where major cities like San Francisco and Los Angeles are among the most expensive places in the country, especially for housing costs.
Schwab’s survey defines wealth in terms of net worth, which is a measure of your total assets minus your debts and liabilities. However, many Americans have a broader view of what it takes to be rich.
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