San Jose Sets $878,000 Rich Threshold as California Metros Tower Above $473,000 U.S. Level
Updated
Updated · New York Post · Aug 10
San Jose Sets $878,000 Rich Threshold as California Metros Tower Above $473,000 U.S. Level
1 articles · Updated · New York Post · Aug 10
Summary
$878,000 a year is the income needed to rank as “rich” in San Jose, defined as the top 2.5% of earners in a metro area, according to a San Francisco Chronicle analysis.
California dominated the list: Napa reached $798,000, San Francisco-Oakland $782,000, Santa Cruz $701,000 and Los Angeles $535,000, all above the national rich threshold of $473,000.
Even the state’s cheaper metros remain costly by that measure, with Vallejo at $424,000, Stockton $375,000, Modesto $331,000 and Merced $266,000.
Those thresholds reflect California’s steep living costs, where renters need $52.79 an hour to afford a typical two-bedroom home and median home prices topped $930,000 in May.