When the data becomes available, it is likely that COVID-19 will be seen to have had a substantial impact on incomes across the country. Regardless, the richest places in the United States will likely remain so. In dozens of cities, the majority of households earn well more than double the national median household income of $65,712.
Using median household income data from the Census Bureau’s 2019 American Community Survey for all municipalities with populations greater than 25,000, 24/7 Wall St. identified the richest cities in the nation. The median annual household incomes in the cities on this list range from nearly $140,000 to more than $240,000.
While there are affluent areas all across the country, most of the very richest cities in the nation are concentrated in highly populated states with large economies, including New York, California, Virginia, and Texas. Most of the places on this list are within commuting distance of the country’s largest metropolitan economic engines.
Incomes tend to rise with educational attainment, and the richest cities and their surrounding areas also tend to have relatively large college-educated populations. Real estate values often reflect incomes in a given city or town, and with high incomes, homes in the places on this list are often relatively expensive. While places with high median incomes do not always have low shares of residents living below the poverty line, most of the places on this list have extremely low poverty rates.