How much money you need to be considered wealthy across the U.S.

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.

When asked what being wealthy means to them, 45% said happiness, nearly equal to the 44% who cited the amount of money they have. Others cite physical and mental health, strong relationships and free time.

That helps explain why many Americans say they already feel wealthy in non-financial ways. About 4 in 5 say they feel rich when it comes to their relationships, happiness and free time, according to Schwab.

The threshold for feeling financially comfortable is lower — $839,000 on average in the U.S., up from $778,000 last year, according to the survey. As with wealth, a comfortable net worth varies by region:

• West: $1.1 million
• Northeast: $979,000
• Midwest: $800,000
• South: $615,000

Schwab’s data suggests that financial comfort feels more within reach than wealth. Nearly half of respondents say they’re already financially comfortable or on the path to get there.

Another 25% say it’s possible, but only with lifestyle changes, which could include reducing spending or increasing income.

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