California metros require near-million dollar incomes to rank among the richest
A new analysis shows that earning a million dollars or more annually is needed to be in the top 2.5% of earners in many California metropolitan areas.
Based on a Bankrate survey and a Chronicle analysis, the income needed to belong to the top 2.5% of earners varies widely across the United States. In California, San Jose tops the list with an $878,000 requirement, followed by San Francisco and Oakland at $782,000, and Napa Valley at $798,000. Santa Cruz, noted for its costly rentals, demands $701,000, while Vallejo, Stockton, Modesto and Merced have thresholds of $424,000, $375,000, $331,000 and $266,000 respectively.
Los Angeles requires $535,000, compared with $678,000 in New York and $637,000 in Seattle. The report also highlighted that Californians need $52.79 per hour to afford a typical two-bedroom rental, with Santa Cruz reaching $81 per hour, and median home prices exceeding $930,000.
Why it matters
Understanding regional income thresholds reveals the extreme cost of living pressures in California’s major metros.
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