You can live like a king on 40k in Omaha. You can have a yard, a garage, drive a car, eat at restaraunts, shop at Walmart. In Manhattan some of that is inaccessible even to the very rich. There are no walmarts. Parking your car may cost 40k.
That's assuming all people want to live like that. I wouldn't know what do do with that much space, and I hate having to drive anywhere. Give me decent public transportation and access to world-class restaurants over a house and a yard and a car any day.