Richest US City: Washington, D.C., Takes The Top Spot
The richest city in the United States is currently Washington, D.C., according to a recent report by 24/7 Wall Street. After pouring over US Census data, it was determined that the nation’s capitol has the highest average income in the entire country. The city reportedly has a median household income of $86,680 with only eight percent of its residents living below the poverty line. What’s more, Washington, D.C.’s unemployment rate currently sits at 5.8 percent, which is the 29th lowest in the nation.
The second richest city in the entire country is San Jose, California, which is home to many of the nation’s top technology companies. As such, the average household income is approximately $84,000, which isn’t too far away from the folks who reside in Washington, D.C. At present, 10.6 percent of those who reside in San Jose are living below the poverty line.
According to Enstaz, the richest US cities have two things in common: high employment rates and job opportunities in the hottest industries. “High-tech jobs, particularly those related to computers and information technology, tend to pay higher salaries and are more likely to be located in areas with affluent residents. On the other hand, most of the jobs in the lower-income metro areas tend to be in retail, service, agriculture, and low-tech manufacturing,” the report explained.
Western Connecticut’s proximity to New York City and Wall Street may explain why the Bridgeport, Stamford, and Norwalk areas enjoy a higher average median household income than the rest of the nation. According to the 24/7 Wall Street report, residents in this region of the country enjoy an average annual income of $77,289. Unemployment in western Connecticut is the 13th lowest in the country at 9.4 percent.
A list of the top 10 richest cities in the United States has been included below.
1. Washington, D.C. and surrounding areas
Median household income: $86,680
Population: 5,703,948 (7th highest)
Unemployment rate: 5.8% (29th lowest)
Percentage of households below poverty line: 8.3% (5th lowest)
2. San Jose/Sunnyvale/Santa Clara, California
Median household income: $84,012
Population: 1,865,450 (31st highest)
Unemployment rate: 9.9% (105th highest)
Percentage of households below poverty line: 10.6% (21st lowest)
3. Bridgeport/Stamford/Norwalk, Connecticut
Median household income: $77,289
Population: 925,899 (56th highest)
Unemployment rate: 8.2% (163rd lowest)
Percentage of households below poverty line: 9.4% (13th lowest)
4. Oxnard/Thousand Oaks/Ventura, California
Median household income: $74,623
Population: 831,771 (63rd highest)
Unemployment rate: 10.1% (93rd highest)
Percentage of households below poverty line: 11.3% (32nd lowest)
5. Trenton/Ewing, New Jersey
Median household income: $73,890
Population: 367,063(140th highest)
Unemployment rate: 7.7% (123rd lowest)
Percentage of households below poverty line: 11.4% (34th lowest)
6. San Francisco/Oakland/Fremont, California
Median household income: $71,975
Population: 4,391,037 (11th highest)
Unemployment rate: 9.4% (127th highest)
Pct. households below poverty line: 11.9% (45th lowest)
7. Anchorage, Alaska
Median household income: $71,700
Population: 387,516 (133rd highest)
Unemployment rate: 6.7% (63rd lowest)
Percentage of households below poverty line: 8.7% (6th lowest)
8. Boston, Massachusetts and surrounding areas
Median household income: $69,455
Population: 4,591,112 (10th highest)
Unemployment rate: 6.6% (55th lowest)
Percentage of households below poverty line: 10.7% (22nd lowest)
9. Boulder, Colorado
Median household income: $68,637
Population: 299,378 (158th highest)
Unemployment rate: 6.2% (45th lowest)
Percentage of households below poverty line: 14.1% (100th lowest)
10. Poughkeepsie-Newburgh-Middletown, New York
Median household income: $66,734
Population: 672,871 (79th highest)
Unemployment rate: 7.6% (116th lowest)
Percentage of households below poverty line: 12.2% (49th lowest)
Do you currently reside in one of the richest cities in the United States?
