What It Means To Be Wealthy In Germany

Forbes

19-04-2025

Hohenzollern Castle, Germany—but what does it mean to be wealthy, and how far will your money let you travel?
It's home to more people than any other European nation and has one of the largest world economies. It also has fairytale castles, cute Christmas markets, and a lot of medieval villages nestled inside larger, more modern towns. But how far might your money go if you lived there, and what does it mean to be wealthy in Germany?
Germany was the sixth most-searched-for country on Numbeo for Americans looking for information on visiting or moving there in 2024, and U.S. News places Germany number 7 in its overall ranking of the best countries in 2024, the same place it sat in 2023. This matrix ranks Germany highly because of its global power, entrepreneurship, quality of life, and social purpose.
CNTraveler's 2024 Readers' Choice Awards placed Germany in 19th place globally in its 20 best countries stating that it has something for everyone and happily blends the old with the new—take, for example, its offering of high-tech spas combined with healing thermal springs, a tradition that dates back to the pre-Roman Celts. Lucky travelers roam through its sumptuous history and age-old forests while traveling back to the airport on hydrogen-powered passenger trains with only steam and condensed water as the byproduct.
In terms of specific areas, CNTraveler named the Ahr Valley in Germany one of the 25 best places to go in 2025, namely for its astonishing wine and exceptional hiking and scenery.
Regarding specific cities, Time Out's 50 Best Cities 2025 rated Berlin at number 23 globally for its famed nightlife but also because of its positive liveability aspects—the green spaces, cycle lanes, parks, forests, and excellent public transport system. It also notes that its organic wine and restaurant scene are positively sparkling, with 82% of residents rating its restaurants as 'good' or 'amazing.' Time Out says, "Once 'poor but sexy,' Berlin is now mostly just sexy."
The Organisation for Economic Cooperation and Development has 38 member countries worldwide, including most of the EU, the U.K., the U.S., Mexico, Colombia, New Zealand, and Australia. According to the OECD Better Life Index, Germany outperforms the average of OECD countries in many economic, educational, and health indicators.
Germany fares better than the average across jobs, work-life balance, education, safety, civic engagement, and life satisfaction. It also does better than average in terms of environmental quality. Notably, its greenhouse gas emissions per capita have decreased since 2010, and its use of renewable energy is increasing.
The OECD states that the average household net-adjusted disposable income per capita is $38,971 a year, while the OECD average is less, at $30,490 yearly.
A 2023 Euronews study found that the average annual net earnings for a single person without children was $43,387, higher than the EU average, at $32,144 on a like-for-like basis.
When taken globally, a comparison of the cost of living in Germany is approximately equal to the U.S., the U.K., and France, where the cost for a single person per month, not including rent, is as follows:
When you factor in rent, it becomes clear that Germany is a little more expensive per square meter than France (13%) but a lot less than the U.S. average (the cost of living in Germany is around 40% less than in the U.S., including rent). However, be warned that it can be notoriously tricky to find a place to rent in many large cities across Germany because of several competing factors: there is sometimes limited supply; people tend to stay in long-term rent agreements; and culturally, home ownership in Germany is often less than in other EU countries.
The UBS Global Wealth Report 2023 found that in 2022, Germany's average wealth per adult was $256,180, but on a per capita basis, as per Statista, the financial net worth of households in Germany was around $108,000 in 2023.
According to the Deutsche Bundesbank, to be considered one of the wealthiest 10% of households in the 2021 Household Wealth Survey, you would need to have a net wealth of $825,543 (€725,900).
To be considered in the top 1% of earners, your income must be more than approximately $284,317 (€250,000).
Germany has many affluent people, including 4% of global millionaires. In 2022, it had the third highest number of UHNW individuals (ultra-high-net-worth)—9,100 people had over $100,000 in assets at the end of 2023.
Germany's digital nomad visa options differ because they don't require a minimum monthly income. However, visitors must consider the higher cost of living than in other European countries. One visa option is a Freiberufler visa, a freelance visa valid for up to three years.
Germany has a rich history, innovation, and a high quality of life, making it a top choice for visitors and potential residents. Its strong economy supports high average incomes and excellent public services, reflected in its strong OECD rankings. While prices are comparable to other Western nations, it offers value, particularly against the U.S., when rent is factored into the cost of living.