What is Pete Buttigieg's net worth?

South Bend Mayor Pete Buttigieg, known by his community simply as "Mayor Pete," is competing against a crowded field of Democrats to become the party's 2020 presidential nominee.

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The 37-year-old Washington, D.C., outsider arguably has many more obstacles to overcome to prove himself victorious. If elected, he would become the first openly gay president and youngest-ever person to become president.

Pete Buttigieg will join Fox News Channel for a town hall moderated by Chris Wallace on Sunday, May 19, at 7 p.m. ET in Claremont, New Hampshire.

Buttigieg's campaign raised more than $7 million in the first quarter of 2019. That number pales in comparison to Democratic frontrunners former Vice President Joe Biden, who raised $6.3 million in the first 24 hours and Vermont Sen. Bernie Sanders, who reported $5.9 million within the first day of his 2020 launch.

The progressive politician, who has called for "a new generation of leadership" in the U.S., also has significantly less in his bank account than his competitors — despite being one of Indiana's top-paid mayors.

In 2018, Buttigieg's mayoral salary was $112,314, according to CNBC. In total, Buttigieg and his middle-school teacher husband, Chasten, reported a total income of $152,643. The pair paid $20,000 in federal taxes — for an approximate tax rate of 13.2 percent, according to newly-released tax returns.

Buttigieg, who was elected mayor of South Bend in 2011 at the age of 29, has reported six-figures salaries over the past few years. According to Celebrity Net Worth, he has a net worth of about $250,000.

He recently told CNBC he considers himself middle class.

“Everybody’s talking about the middle of the country like it’s some mysterious place and I think it might make sense to have somebody in the mix who actually lives here,” Buttigieg said. “I actually live in a middle-class lifestyle, in a middle-class neighborhood, in the American Midwest.”

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But he's still far behind his Democratic rivals in terms of wealth.

In April, Sanders, too, released 10 years worth of returns, which showed his adjusted gross income in 2017 was $1,131,925 — mainly thanks to royalties from his book "Where We Go From Here." Biden, who earned around $230,000 annually during his time in the White House, is worth about $1.5 million, per Celebrity Net Worth. That doesn't include the multi-million dollar book deal he signed with Flatiron Books in 2017.

Fox News' Ann Schmidt and Paul Steinhauser contributed to this report.