At first glance one might think that Los Angles or New York City would have the highest median income in America. However, one might be surprised that these two cities did not even make in the top 10 list of Americas riches cities. These two cities do contain much of the nation’s wealth, but it is spread out and not evenly distributed. As much wealth as these two large cities contain, they also contain many poor people.
The city with the highest median income in America is San Jose, California. The average household income in San Jose is $71,765. The average home price is $625,000.
Why San Jose has the highest median income in America is because it has a large population of highly educated individuals that have above-average incomes. Santa Clara County used to be home of much of the high-tech manufacturing in America. Companies such as Sun Microsystems and Hewlett-Packard started and are headquartered in the San Jose area. The city is in the heart of Silicon Valley that contains the headquarters of tech giants such as Google, Cisco Systems and Intel. The city also contains a vast amount of doctors and lawyers who enjoy the city’s near perfect climate.
Other cities in America that have a high median income are Anchorage, San Francisco,Washington D.C., Raleigh, and Virginia Beach, Virginia. All of these cities contain a large group of highly educated individuals that have above-average incomes.
Anchorage, Alaska has the second highest median income in America because a majority of each household is a two-income household. Most Anchorage residents are in their prime working years and are earning their peak incomes. The city also has a very low unemployment rate and does not have a very large senior population. All of these are factors combined are why Anchorage is America’s second richest city.
The other cities all fall closely behind Anchorage in the median income. San Francisco and Washington D.C. are two of the most educated cities in America. Washington D.C. is wealthy because of the lobbyist and special interest groups that are based there. Politics generally involves money and the highly educated as well.
Virginia Beach, Virginia is wealthy because of a large naval base that is there. It serves as a major host too many military families. The Naval base brings many contractors and many other individuals that earn high incomes.
Each American city that has one of the highest median incomes in the Nation is unique unto itself. There is not a certain pattern, and each reason for why each city is wealthy is different than why another city is wealthy. That is what makes American great.