does wealth really make sense as a factor? I can think of plenty of very wealthy cities that wouldn't be able to form militia. (just because you have the technology, doesn't mean you know how to fight. just look at the french)
Normally militia are like super-cheap (super fast to build) units who suck... And they are in strategy games all the time. Civilization has militia, for example... they are super weak, but they exist (except for minute men, which are ok)
Historically, wealthier cities had wealthier citizens, who could afford better armor and weapons when their services were required. You can generally expect that citizens of a war torn world in a wealthy city would be able to afford better arms than those in a destitute one. Also, if a city is a crossroad or manufacturing hub of a military resources, it stands to reason that many of them will end up in the hands of private citizens. I'm not suggesting by any stretch that militia should be as well equipped as units that you could otherwise raise as professionals (and no where near as well trained), but that doesn't mean that they should all be pitch fork armed peasants either. Perhaps some few militia in metropolitan cities might even be armored, horse riding, inexperienced but impeteous nobles?
Also, Civilization does not have militia units as I described. In the original Civ, they were standing army units that remained permanently and required persistent upkeep even though they were called militia. The only game in recent memory where I have seen them appear in this fashion is in Empire: Total War (too bad the game is virtually unplayable in the grand campaign.) Most strategy games have improperly represented the concept of a militia, even if they have labeled units levies, town watch, or militias.
The point is for them to be present only when it's necessary for them to defend. Real world militias never stood assembled at the city gates 24 hours a day, 30 days a month, all year round, never tending to their fields or professions. I'm assuming that raising soldiers will consume population, so simply relegating the militia unit to a kind of raisable soldier wouldn't work because it would take population away from your city, which really defeats the true purpose of militias. Also, if militias are simply standard units, than you can technically field them in far off lands, which explicitly defeats the purpose of militia units to begin with. I don't see how my idea would be hard to implement at all, either. Simple have an algorithm for what militia will rise to fight when under attack, and have a little icon somewhere in the city interface that tells you the militia level in number and calibur.
If there is any further confusion as to what a militia is meant to be, refer to: http://en.wikipedia.org/wiki/Militia
As an aside, the French have fought courageously, and died in great numbers, in every war that they've ever been involved in.