How Much Money Does It Take to Be 'Rich' In New York?

Everyone who lives in New York knows that while the Empire State has many great things about it, affordability isn't one of them. Living in New York is expensive.

According to a study of wealth conducted by Business Insider, New Yorkers need to earn a fair bit of money to be considered "wealthy." Using data from the Pew Research Center, Business Insider figured out how much you'd have to make across the country to be considered rich. The definition used was earning more than twice the median income for the area.

The national average income to be considered "rich" is $118,080, but of course, it's higher in New York City, where you need to make at least $143,794 to be in the upper echelons.

That may seem low to many — especially considering that San Jose, California, the highest-ranked place on the list, has a minimum income of more than $220,000 to be considered rich.

But New York is at the top of the top. To be considered in the top one percent of earners in the state, New Yorkers need to earn a whopping $517,557. It's one of the highest in the country, even beating out California. The national average for being a "one percenter" is a little over $300,000.

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