5 Cities Where the Wealthy Embrace a Middle-Class Lifestyle

The Rich Who Live a Middle-Class Lifestyle: A Closer Look at Wealthy Individuals Who Blend In

Being wealthy is often associated with a lavish lifestyle, extravagant purchases, and a carefree attitude towards money. However, not all wealthy individuals fit this stereotype. Some live a middle-class lifestyle, blending in with the general population while still enjoying the benefits of their financial status.

Recently, a reader reached out to a Seattle Times columnist to shed light on this phenomenon. Describing themselves as “regular rich,” the reader explained that they live in a nice house, drive a Tesla Model 3 (the cheapest option available), and take modest vacations in coach class. Despite their comfortable lifestyle, they do not consider themselves middle class.

This distinction is important, especially as the middle class continues to shrink in the United States. According to the Pew Research Center, the share of adults living in middle-class households has decreased from 61% in 1971 to 50% in 2021. The Pew Center defines middle-income households as those with an income that is two-thirds to double the U.S. median household income, which currently stands at $74,580.

So where do these “regular rich” individuals live? Let’s take a closer look at five cities where wealthy people lead a middle-class lifestyle:

1. Seattle, Washington
– Number of millionaires: 54,200
– Average median home price: $877,000
– Median household income: $116,068

In Seattle, the top 20% of households earned an average of $442,000 each last year, highlighting the disparity between the wealthy and the middle class.

2. Bay Area, California
– Number of millionaires: 305,700
– Average median home price: $1.44 million
– Median household income: $128,151

Despite the high number of millionaires in the Bay Area, the median household income is relatively modest compared to the cost of living.

3. New York City, New York
– Number of millionaires: 349,500
– Average median home price: $838,000
– Median household income: $76,607

New York City is home to a large number of millionaires, but the median household income remains below the national average.

4. Los Angeles, California
– Number of millionaires: 212,100
– Average median home price: $1.2 million
– Median household income: $176,244

Despite the high number of millionaires in Los Angeles, the median household income is significantly higher than the national average.

5. Miami, Florida
– Number of millionaires: 35,300
– Average median home price: $575,859
– Median household income: $65,116

Miami stands out as a city where the wealthy can live a middle-class lifestyle, with a relatively low median household income compared to other cities on the list.

These cities offer a glimpse into the lives of wealthy individuals who choose to blend in with the middle class. Despite their financial status, they opt for modest homes, affordable transportation, and budget-friendly vacations. This trend highlights the diversity within the wealthy population and challenges traditional notions of what it means to be rich.