A new report has crunched numbers to determine how much money you need to make to be considered “rich” in Michigan. Business Insider looked at several factors in 42 of the countries largest cities to determine what income residents need to be considered above-middle-class.
About one in five Americans is considered upper-income, meaning they earned at least twice the national median household income of $59,039 in 2016, according to the Pew Research Center. Business Insider says that overall in the U.S., you’d have to earn $118,080 to be rich.
But that isn’t true for many cities, including Detroit, where that number is actually a little lower.
Money it takes to be considered rich in Detroit: $112,284
Median income in Detroit: $56,142
Metro-area population: 4.3 million
To be in the top 1 percent in Michigan, it takes $306,740, according to the report.
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