These U.S. Cities Will Gain the Most High-Income Earners This Year
As major cities across the country become increasingly expensive to live in, some workers are searching elsewhere to plant their roots. Those making a good amount of money looking to spend it wisely are flocking to smaller cities, and as a result, those cities are seeing a dramatic increase in the number of high-income residents.
SmartAsset examined recent census data and looked at more than 300 U.S. cities to determine which areas are seeing an influx of high earners. The IRS categorizes someone as high income when they make at least $200,000 a year.
"High-income households may have an outsized impact on local economies, which can put increased pressure on housing markets, shift demand for services and businesses, and tax base contributions," SmartAsset said. "Examining the rate of growth of this cohort allows us to identify potential up-and-coming alternatives to established areas of wealth."
Many of the entries on the list are suburbs of larger cities. In the top spot is Spokane Valley, Washington, which sits east of Spokane. Several cities in Arizona on the list like San Tan Valley, Surprise, and Goodyear all lie outside Phoenix. The top 10 contains entries from California to Connecticut, as well as two cities in the South: Killeen, Texas and Jackson, Mississippi. Interestingly, Jackson has also been ranked as one of the poorest cities in the country, with 36.6 percent of residents earning less than $25,000 each year, according to U.S. News and World Report.
Read up on the 10 cities with the most new residents making bank and think about if you're due for a change of scenery.
Spokane Valley, Washington
Allentown, Pennsylvania
Evansville, Indiana
Killeen, Texas
San Tan Valley, Arizona
Springfield, Massachusetts
New Haven, Connecticut
Manchester, New Hampshire
Jackson, Mississippi
Palmdale, California
