The Wealthiest Cities In America (10-6)
As 2017 calendar year comes to an end, reports suggest America’s economy is picking up under the leadership of President Donald Trump. In April, the unemployment rate fell to its lowest level in more than ten years. But some areas still remain more profitable and livable than others in America. Here is a peak at some of the wealthiest cities in the U.S.
10. Scottsdale, AZ
The city of Scottsdale isn’t usually included on lists of richest cities in America. This is most likely due to the demographics of the area. The average age of Scottsdale residents is 44. The area is incredibly popular amongst the older generation. “Snow birds” as they are known in Valley, routinely spend the winter months in Scottsdale enjoying the weather and plethora of world-class golf courses. More than 40% of Scottsdale households earn at least $100,000 per year. Of the fast-growing cities in the Valley, Scottsdale’s median housing prices are by far the highest – $435,000 compared to the median in Phoenix of $200,000.
9. Newtown, MA
Housing does cost a fortune in this town, but the city’s overall beauty makes the cost worth it. The median home price is $920,000, while the median household income sits just below $120,000 per year. In addition to its nice homes, Newtown was recently ranked as the safest city in America.
8. Seattle, WA
Big business lives in the Pacific Northwest. Amazon, Microsoft, and Boeing all call the Seattle area home. With big business, comes large housing costs. The average rent for a two-bedroom apartment is $2,109 – nearly 80% above the national average. Seattle’s average income rose above $80,000 per year in 2015 and it shows no signs of slowing down any time soon. The good news for locals is there is no shortage of employment opportunities. The 4% unemployment rate is well below America’s average.
7. Hoboken, NJ
New York City is just a swift 20-minute ride away from Hoboken, making it a destination for a ton of busy city workers. The household income is currently hovering around $123,000. Hoboken is one of the fastest growing cities in the U.S. The median home is valued at $756,700 – rising by 9.4% in just the last year. Real estate group, Zillow, predicts the prices will increase by another 4% next year.
6. Bethesda, MD
Bethesda’s largest claim to fame is the record-low unemployment rate. Currently sitting at 3.7%, the rate is more than a percentage point less than the national average of 5%. Just three years ago, Forbes and Time Magazine ranked Bethesda #1 in a list of top-earning cities. Bethesda’s location near Washington DC and wealthy Virginia cities make it a highly sought-after place to conduct business and make a living.