Households with net worths of $1 million or more may be identified as members of the upper-most socio-economic demographic, depending on the class model used. While most contemporary sociologists estimate that only 1% of households are members of the upper class, sociologist Leonard Beeghley asserts that all households with a net worth of $1 million or more are considered "rich." He divides "the rich" into two sub-groups: the rich and the super-rich. The rich constitute roughly 5% of U.S. households and their wealth is largely in the form of home equity.