This Is How Much You Need To Earn To Be Considered Rich In NYC

NEW YORK, NY – If you can make it here, you can probably do a lot better elsewhere.

New Yorkers need to earn $143,794-a-year to be considered rich, according to a study of 42 major U.S. cities carried out by Business Insider. You'd be much better off if you took your money and moved.

New York takes 34th spot on the list. In Memphis, Tennessee, you're rich if you make $99,618, with other cities taking the bottom spots including Tampa and Miami in Florida, Cleveland, Ohio, and Las Vegas, Nevada.

But perhaps what's most shocking is the report's finding that those considered rich in NYC wouldn't be well off in some other cities – including Minneapolis, Denver and Baltimore.

Business Insider looked at what the Pew Research Center classes as upper-income – people who make at least twice the national median household income which, nationally, is $59,039. In NYC, the median income is $71,897.

There's still a huge difference between being rich and super-rich, however. To be in the top 1% in New York City, you need to earn $517,557. Only Boston and Washington, D.C., is higher.

Read Business Insider's full report here.

Lead image via Shutterstock.