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How do you define your own wealth? According to 1,000 respondents surveyed in Schwab's seventh annual Modern Wealth Survey, it takes an average net worth of $2.2 million to be considered wealthy. However, the average net worth among 48% of Americans who feel wealthy today is $560,000: about one-quarter of the aforementioned millions.

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Schwab's Modern Wealth Survey also looks at select cities and geographic regions to find out how much money it takes to be wealthy in these areas. Going in alphabetical order, here's the average net worth it takes to be wealthy in 12 U.S. cities in 2023.

Atlanta

• Average net worth it takes to be wealthy: $2.3 million

• Average net worth it takes to be financially comfortable: $729,000

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Boston

• Average net worth it takes to be wealthy: $2.9 million

• Average net worth it takes to be financially comfortable: $932,000

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Chicago

• Average net worth it takes to be wealthy: $2.3 million

• Average net worth it takes to be financially comfortable: $817,000

Dallas

• Average net worth it takes to be wealthy: $2.3 million

• Average net worth it takes to be financially comfortable: $820,000

Denver

• Average net worth it takes to be wealthy: $2.5 million

• Average net worth it takes to be financially comfortable: $710,000

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Houston

• Average net worth it takes to be wealthy: $2.1 million

• Average net worth it takes to be financially comfortable: $606,000

New York

• Average net worth it takes to be wealthy: $3.3 million

• Average net worth it takes to be financially comfortable: $1.2 million

Phoenix

• Average net worth it takes to be wealthy: $2.4 million

• Average net worth it takes to be financially comfortable: $653,000

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San Francisco

• Average net worth it takes to be wealthy: $4.7 million

• Average net worth it takes to be financially comfortable: $1.7 million

Seattle

• Average net worth it takes to be wealthy: $3.1 million

• Average net worth it takes to be financially comfortable: $1 million

Southern California

• Average net worth it takes to be wealthy: $3.5 million

• Average net worth it takes to be financially comfortable: $1.5 million

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Washington, D.C.

• Average net worth it takes to be wealthy: $3 million

• Average net worth it takes to be financially comfortable: $1 million