Here's What You Need To Be Considered Rich In Los Angeles

A new report revealed how much money you need to make to be considered rich in 50 American cities.

Go Banking Rates used U.S. Census Bureau income data to determine the salary a household needs to be "rich," which they define as being in the city's top 20% of earners.

So how much do you need to earn to be considered rich in Los Angeles?

According to their findings, you'll need to earn $135,373 or more to be considered a "rich" person in the top 20 percent of the city's nearly 4 million residents. The top 5 percent of earners in LA make an average of $516,961.

In almost every city Go Banking Rates analyzed, residents, need a six-figure salary to qualify as rich.

One of the most expensive spots was also in California. In San Francisco, you'd need to earn around $239,000 to be considered rich.

Detroit was one of the least expensive. You'd need to earn $66,139 or more to land in the top fifth of the city's earners. Across the nation, the Census found that the median household income was $67,521 in 2020, which is a nearly 3% decline from the year before.

Read the full study here.