What’s a Typical Upper Class Spending Profile in America’s Richest ZIP Code?
Written by
G. Brian Davis
Edited by
Zuri Anderson
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The difference between the middle class and the upper middle class is incremental.
An upper-middle-class budget looks similar to a middle-class budget, simply with higher amounts spent. But the ultra-wealthy’s spending looks completely different from the upper middle class.
A 2025 study by PropertyShark listed the ten wealthiest ZIP codes in the country, topped by Fisher Island (33109) outside Miami. And there’s nothing “average” about the average spending profile there.
Housing
The median home in Fisher Island costs $9.5 million. Even if they put down a $1 million down payment, they would still be looking at a monthly payment in the $65,000 range, including property taxes and insurance.
Financial planner Michael Harris of Emory Wealth notes that even at these numbers, the ultra-wealthy often spend just 10% to 20% of their income on housing.
“In top-tier ZIP codes, an ultra-wealthy family’s ‘budget’ looks very different from the average household,” Harris added.
Taxes
At the highest end of the spectrum, Harris adds that the wealthy can lose 30% of their income to taxes. That includes not just regular income taxes but self-employment taxes, corporate taxes, capital gains taxes, dividend taxes and sales tax on expensive purchases.
Lifestyle
Lifestyle spending includes everything from cars to travel to household staff, and can vary wildly.
“Their lifestyles often include services and infrastructure that average households rarely consider,” explains Craig Kirsner, president at Kirsner Wealth Management. “Think private security, dedicated household staff, concierge services, exclusive club memberships, luxury transportation like yachts and jets, and premium wellness services.”
This spending could add up to another 20% to 50% of their budget.
Insurance and Risk Management
At this level, the wealthy spend significant time and resources protecting what they have.
Litan Yahav, owner of wealth management platform Vyzer, points out that risk management starts with insurance but doesn’t end there for the rich.
“Wealthy families optimize for control and predictability, not restraint,” Yahav said. “They care less about cutting costs and more about knowing, at any moment, how much liquidity they have, what’s coming in, and what’s going out over the next six to 24 months.”
Insurance and financial planning costs often make up 1% to 5% of a typical high-net worth individual’s budget.
Savings, Investments, Philanthropy
Part of risk management involves continuing to save, invest and grow wealth.
“Despite high consumption, many in this income tier save or invest heavily in real estate, venture capital and investment portfolios to help ensure long-term wealth retention or growth,” explains Kirsner.
That can easily add up to half of their budget, according to Harris.
“Disciplined wealthy families still allocate 50% or more to saving and investing, and treat philanthropy and risk management as core components of long-term wealth planning,” he said.
Harris adds that philanthropy often makes up 1% to 10% of their budget.
The ultra-wealthy aren’t just a richer version of the upper-middle class. Their budgets look fundamentally different than everyone else’s, heavily weighted toward lifestyle, investments, risk management and philanthropy. They spend proportionately less on housing — even in the richest ZIP codes in the country.
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