You're A Top 10% Midwesterner If Your Net Worth Is Above This Number

The Midwest is generally more affordable than other parts of the country. Per 2024 Bureau of Economic Analysis (BEA) data, every Midwestern state — which the U.S. Census Bureau lists as Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin — had an overall price level at or below the national average. This is part of why the salary benchmarks for "comfortable living" in the Midwest aare generally lower than the national average — and why net worth thresholds tend to be lower as well.

According to a November 2025 Visa Business and Economic Insights report, a Midwestern household is in the top 10% of affluence with a net worth of at least $1.7 million. That's about $100,000 less than what Visa says you need to be in the top 10% nationally. It's also below the South's $1.8 million threshold, the Northeast's $1.9 million, and the West's $2 million. It's worth mentioning that net worth means everything a household owns — including savings, investments, retirement accounts, business assets and real estate — minus debts such as mortgages, credit card balances, and other loans. Therefore, having $1.7 million in net worth does not necessarily mean having that much cash available, as much of it may be tied up in a home or retirement accounts.

Reaching a $1.7 million net worth doesn't require accumulating that amount in cash or investment accounts alone. The more realistic route is building several types of assets over decades while keeping liabilities under control. According to 2022 Census Bureau data, retirement accounts represented 32.1% of aggregate U.S. household wealth among households at or below the 99th percentile, while home equity supplied another 31.4%. Combined, those two assets accounted for 63.5% of wealth, compared with just 9.2% held in accounts at financial institutions. These are national averages, not a recommended asset allocation, but they help illustrate why net worth is much broader than savings alone.

For example, one hypothetical Midwestern household could have a mortgage-free home worth $346,600 — the region's median existing-home price in June 2026, per the National Association of Realtors (NAR) – along with $900,000 total in retirement and other investment accounts, $350,000 in business or rental-property equity, and $103,400 in cash, vehicle equity and other assets. Together, those assets would produce a $1.7 million net worth, assuming any business loans or other outstanding debts have already been subtracted.

The precise combination of assets will naturally vary, but the age of the householders is also a major, almost non-negotiable ingredient. The Census Bureau also found that median household wealth increased from $31,110 for householders under 35 to $403,000 for those ages 70 to 74, before declining among older households. That suggests many Midwestern households in the top 10% by net worth are likely to be middle-aged or retired, simply because they've had more time to build wealth.