Richest US City: Washington DC Tops List, $86,680 Median Household Income
The richest city in the U.S. has been named as Washington DC, according to a report out basing the analysis on the 2011 Census Bureau American Community Survey.
The new report lists the top 10 cities in the United States that have the highest average income. Washington DC was found to have the highest, and according to the report the city boasts an average household income is $86,680 annually. In addition, it was found that only about 8 percent of households in DC live below the poverty line.
Some of the biggest factors in deciding which cities topped the list were how employment rates, as well as what type of work was being carried out primarily in each city.
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The report stated: "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."
"Included among the richest cities are the information technology centers of Boston and Boulder, the finance hub of Bridgeport-Stamford, and the San Jose region, better known as Silicon Valley, home to some of the largest chipmakers and computer parts manufacturers in the world," the report added.
Here are the top 10 compiled in the list:
10. Poughkeepsie-Newburgh-Middletown, New York
Median household income: $66,734
Population: 672,871 (79th highest)
Unemployment rate: 7.6% (116th lowest)
Percent households below poverty line: 12.2% (49th lowest)
9. Boulder, Colorado
Median household income: $68,637
Population: 299,378 (158th highest)
Unemployment rate: 6.2% (45th lowest)
Pct. households below poverty line: 14.1% (100th lowest)
8. Boston, Massachusetts and surrounding areas
Median household income: $69,455
Population: 4,591,112 (10th highest)
Unemployment rate: 6.6% (55th lowest)
Pct. households below poverty line: 10.7% (22nd lowest)
7. Anchorage, Alaska
Median household income: $71,700
Population: 387,516 (133rd highest)
Unemployment rate: 6.7% (63rd lowest)
Pct. households below poverty line: 8.7% (6th 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)
5. Trenton/Ewing, New Jersey
Median household income: $73,890
Population: 367,063(140th highest)
Unemployment rate: 7.7% (123rd lowest)
Pct. households below poverty line: 11.4% (34th lowest)
4. Oxnard/Thousand Oaks/Ventura, California
Median household income: $74,623
Population: 831,771 (63rd highest)
Unemployment rate: 10.1% (93rd highest)
Pct. households below poverty line: 11.3% (32nd lowest)
3. Bridgeport/Stamford/Norwalk, Connecticut
Median household income: $77,289
Population: 925,899 (56th highest)
Unemployment rate: 8.2% (163rd lowest)
Pct. households below poverty line: 9.4% (13th 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)
Pct. households below poverty line: 10.6% (21st lowest)
1. Washington, D.C. and surrounding areas
Median household income: $86,680
Population: 5,703,948 (7th highest)
Unemployment rate: 5.8% (29th lowest)
Pct. households below poverty line: 8.3% (5th lowest)
