What are the wealthiest cities in America? The US economy has finally started to recover with more jobs being added on the market each and every day. However, when it comes to median household income their growth hasn’t really been that visible. According to the US Bureau of Labor, many cities across America feature the same or lower incomes than those from 2008.
Nonetheless, for some US cities, the situation is a bit brighter. Following, we would like to present you with a list we have compiled of the 10 Wealthiest Cities in America, ranked according to the latest statistics issued by the US Bureau of Labor. The main indicator we used to rank the following cities is the median household income, or the amount of money at which half of the city’s residents earn more and half earn less during a year. We have also included the poverty rate, the unemployment rate, and the total population for each of the cities.
The San Jose – Sunnyvale area in California’s Silicon Valley emerged as the leading city when it comes to median household incomes. Furthermore, San Jose is one of the few cities in the country where salaries have been on the rise since 2011. This is largely thanks to the high concentration of information technology and professional services jobs in the area. But not only are salaries higher in San Jose than in the rest of the US, but the area has also increased in popularity on the housing market. The median value of local homes is the highest in the country, at over $600,000 per unit.
Let’s take a look at the countdown and see if you happen to live in one of the wealthiest cities in the country. While you’re at it, we also recommend you read our cover story on the Top 10 Richest Cities in the World.
No. 10: Napa, California
Median household income: $68,553 per year
Poverty rate: 8.9%
Unemployment rate: 7.8%
No. 9: Manchester – Nashua, New Hampshire
Median household income: $69,089 per year
Poverty rate: 9.8%
Unemployment rate: 5.5%
No. 8: Honolulu, Hawaii
Median household income: $71,404 per year
Poverty rate: 10.3%
Unemployment rate: 5.2%