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Here's how much money it takes to be considered wealthy in 13 major US cities

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To feel wealthy, Americans say you need a net worth of at least $2.2 million on average, according to financial services company Charles Schwab's annual Modern Wealth Survey.

But even if you have that much in the bank, it might not be enough to be considered rich in certain places, the survey found.

In San Francisco, you need a net worth of $4.7 million to be considered wealthy. That's down from $5.2 million since last year's survey, but still well above the U.S. median household net worth of $121,700, according to the Federal Reserve's most recent data.

San Francisco had the highest total in the survey, which examined 12 of the biggest metropolitan areas in the country, covering 13 major cities. Here's the net worth you need to be considered wealthy in various places across the U.S.

  1. San Francisco: $4.7 million
  2. New York City: $3.3 million
  3. Southern California (includes Los Angeles and San Diego): $3.5 million
  4. Seattle: $3.1 million
  5. Washington, D.C.: $3 million
  6. Chicago: $2.3 million
  7. Houston: $2.1 million
  8. Boston: $2.9 million
  9. Dallas: $2.3 million
  10. Atlanta: $2.3 million
  11. Phoenix: $2.4 million
  12. Denver: $2.5 million

Net worth is a measure of the value of the assets a person or corporation owns, minus the liabilities they owe.

Despite these lofty numbers, 48% of Americans say they feel wealthy. However, of those that do, their average net worth is $560,000.

Perhaps relatedly, 7 out of 10 Americans polled say wealth is more about not stressing over money, rather than net worth. 

Wealth is also a subjective term. Nearly two thirds of survey respondents say enjoying relationships with loved ones better describes what wealth means to them, rather than having a lot of money. And nearly 66% of respondents say having time is more important than having money.

The online survey was conducted in March, with a sample of 500 to 750 local residents for each metropolitan area, between the ages of 21 and 75.

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