As happened in our world the change in peerage came about not from a change in people getting more wealthy, but rather in a change of what is expected of high nobility.
Urbanisation, meritocratic changes in government and military and industrialization means landowning becomes less important and money-making.
Murat was the son of an innkeeper and ended up King of Naples, Bernadotte the son of a lawyer and ended up King of Sweden, Wellington the son of an impoverished noble in the backwater of Georgian Britain but ended up a Duke.
Anyway, my point was that our rise in the rank of peerage doesn’t necessarily mean we need to base it around
a) our own Barony, it might be somewhere else and symbolic.
b) the feudal obligations following such rank in peerage.