Is it a $250,000 income, or a TAXABLE income?? There's a big difference. And it depends where you live whether $250,000 makes you "wealthy". I have to tell you, where I live, the median rent is $1135 per month and the median price of a house is $463,000. Average real estate taxes are close to $10,000 a year. The cost of living is horrendous compared to say, Greene County, NY where a similar income would buy you ten times more.