What is considered wealthy in Washington state?
How wealthy is “wealthy” in Washington state? It’s a question that has taken on more than cocktail party relevance — especially as lawmakers and residents are debating new wealth taxes, rising living costs and the widening gap between the ultra-rich and everyone else. In Washington in 2025, what constitutes wealth is both measured in hard numbers and dictated by evolving social attitudes, as newly instituted tax policies draw a delicate line between the merely comfortable and the truly rich.
How Do You Define “Wealthy” in Washington? By the Numbers
Washington state doesn’t establish an official dollar amount that makes you “wealthy,” unlike the federal government. Instead, the state tax proposals and budget documents provide the clearest clues. As Washington does its best to define “wealthy” in the context of the latest legislative proposals and budget summaries, rich is typically defined as having:
Outsized extraordinary wealth over $100 million: Governor Inslee’s 2025-2027 budget proposal and various legislative bills single out state residents with global wealth over $100 million458 for a 1% tax on wealth459. This threshold isn’t arbitrary — it’s meant to hit only the wealthiest 0.0004% of Washingtonians, or about 3,400 people statewide45.
Ultra-wealthy threshold for higher taxes: A few proposals put the bar even higher, at $250 million in financial assets, for additional wealth tax calculations3.
For the vast majority of Washingtonians, these numbers are out of reach. But in a state that is home to tech billionaires and some of the fastest growing fortunes in the country, these thresholds have now become the focus of policy and public debate.
Wealth in Context: How Does Washington Stack Up?
Nationally, “wealthy” typically describes someone who is in the top 1 percent of earners or asset holders. Given the concentration of tech wealth and global business leaders in Washington, the bar here is even higher than most places. For context:
Household wealth in Washington falls well short of $100 million. (The vast majority of families would be considered upper-middle class, or wealthy, with net worths in the low millions, but here, state wealth tax proposals suggest that “wealthy” has a much larger meaning.)45
Income vs. Wealth: Whereas a big salary (say, $250,000+) may seem rich in much of the country, Washington’s new tax proposals would look to taxed accumulated assets—stocks, bonds, mutual funds, other financial riches57—not just income56.
What the Wealth Tax Tells Us About “Wealthy”
Washington is now debating wealth taxes, which makes it possible to take a peek at how it sees wealth:
A 1% annual tax only on assets over $100 million is offered. Millions of dollars in assets, for instance, is not “wealthy” by the state tax count456.
The tax would reach worldwide financial intangible assets (stocks, bonds, options, etc.), but not be applicable on non-financial intangible assets or the first $100 million in financial assets per tax payer5.
The ultrawealthy own a disproportionate share: The top 10% of wealth holders own 60% of all wealth in the United States, lawmakers point out, and the new tax aims to reduce this imbalance5.
What Does “Wealthy” Feel Like?
For most Washingtonians, “wealthy” is a more relatable milestone:
Homeownership in a desirable neighborhood (where prices are easily over $1 million)
Being financially secure, debt-free and able to travel or retire early
Comfortably being able to afford private school, luxury automobiles or second homes
But by the state’s most recent calculations, even those who are leading what many would consider an upper-class life are not the intended targets of new wealth taxes or policies.
Wealth, Taxes, and Daily Life
The argument about how to define wealth in Washington isn’t just theoretical — it shapes policy and daily life. Lawmakers are seeking “fair share” contributions from the ultra-wealthy without burdening working families457 as the state attempts to pay for education, healthcare and public safety.458 This focus on truly top of the top means that for most residents, including many with big incomes or assets, the proposed wealth tax won’t directly impact them.
And for those who do fall within ultra-wealth territory, managing complex finances, properties and lifestyles becomes a full-time job. Many depend on a constellation of professionals — tax advisors, home services such as Seattle Green Maids — to care for their homes and quality of life while they devote themselves to business and philanthropy.
Services and Lifestyle Studies
Even for those not liable for wealth taxes, having a well-kept and tidy home is an aspect of feeling “rich” in day-to-day life. Services such as Seattle Green Maids are gaining popularity with busy professionals and wealthy families who enjoy freedom of time and a clean, healthy home environment.
(If you’re interested in learning what it requires to do well in Washington—or if you want to find out more about the connections between wealth, taxes and lifestyle—visit our website for resources and advice on how to make the most of life in the area.)
By 2025, according to legislative and tax policy standards456, “wealthy” in Washington state will be determined by whether you have $100 million447 or more in financial assets. For most people, wealth means security, comfort and opportunity — but at the policy level, it’s the ultra-wealthy who have been in the spotlight. As the state continues to grapple with how to pay for important services and reduce inequality, the definition of “wealthy” will be a moving target, as well as a reflection of Washington’s unique economy. And considering that life is challenging whether you’re scraping along at pay check to pay check or enjoying a comfortable income, having trusted partners like Seattle Green Maids to ease the day to day experience of home can get a little easier on a more comfortable level.
