The phrase "financially comfortable" doesn't have a strict definition. For some, it could mean owning their own home, while for others, it might mean frequent travel without worrying about the costs.

Whatever the definition might be, Americans think the sweet spot is about $778,000 in net worth, according to Charles Schwab's annual Modern Wealth Survey, which surveyed 1,000 Americans ages 21 to 74 in March 2024.

That changes depending on where you live, however. In San Francisco, the net worth you'd need to feel "comfortable" is $1.5 million, according to a survey sample of 750 residents in that city — the highest amount cited among 12 major U.S. cities surveyed.

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Only 16% of San Franciscans feel "on top of their finances," with a majority of residents citing a high cost of living and elevated housing prices as obstacles to meeting their financial goals, the study says.

Here's a look at the net worth that's considered "financially comfortable" in all 12 cities, ranked by net worth thresholds:

1. San Francisco: $1.5 million
2. Southern California (includes Los Angeles and San Diego): $1.2 million
3. New York City: $994,000
4. Washington, D.C.: $968,000
5. Boston: $903,000
6. Denver: $876,000
7. Chicago: $875,000
8. Seattle: $789,000
9. Atlanta: $781,000
10. Dallas: $724,000
11. Houston: $662,000
12. Phoenix: $650,000

Net worth is simply what you own — like savings or a home — minus what you owe, like credit card or auto loan debt.

Much of the difference in net worth thresholds between cities is due to shelter costs, especially in cities with severe housing shortages, like San Francisco, Los Angeles and New York City.

Median-price homes in all of the cities surveyed exceed the national median of $412,300, according to U.S. Census data. In San Francisco, nearly half of all homes exceed $1 million, per Realtor.com data.

While feeling "financially comfortable" is a subjective term, the survey makes a distinction between that and feeling "wealthy."

When asked about the net worth needed to feel wealthy across the country, survey respondents identified $2.5 million as the threshold. For cities, it ranges from $4.4 million in San Francisco to $2.2 million in Dallas.

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