Money Talks

Top 3 Richest US City by Income

San Jose California

San Jose, Calif., has the highest median household income among the country’s 25 most populous cities, with the city’s level approaching $77,000 last year, about 50% higher than the national median of $51,000, according to data released Thursday by the U.S. Census Bureau. The city boasts that it’s “home to the largest concentration of technology expertise in the world — more than 6,600 technology companies employing more than 254,000 people.” Taking a broader view, California is home to several top cities for household income. However, the state is one of only five where inequality is higher than the U.S. level. Median household income in California is higher than for the U.S. as a whole, but the state’s poverty rate is also above the national average.

San Francisco, California

Following close on San Jose’s heels is San Francisco, where median household income hit almost $70,000 last year. The city is filled with computer and technical workers, many making north of $90,000 a year. People are highly educated, with 52% of those at least 25-years old having at least a college degree, compared with 29% across the U.S. Even San Francisco’s youngest residents are into education: about 70% of the preschool-age tots are enrolled in school, compared with 47% across the U.S. Also of note: more than one-third San Francisco’s population is foreign-born, compared with 13% of the U.S.

Washington, DC

Households in Washington, D.C. are No. 3 when it comes to income, with a median of about $63,000. Folks there are well educated, and home values are high. It’s a company town — about 29% of workers are federal, state or local government employees. About 11% of Washington households have income of at least $200,000, compared with 4% in the United States.

Source:

Yahoo Finance

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