San Francisco Is Officially America’s Wealthiest Urban Area
Source: bizjournals.com | Re-Post MNM Partners 09/21/2017 –
San Francisco is the richest of America’s 25 largest metropolitan area by median household income, according to new data from the U.S. Census, and has the fastest-growing incomes of anywhere in the nation.
The region’s median annual income leaped $8,000 to $97,000 in 2016, up from its prior median annual income 2015 of $89,000. But although San Francisco is the nation’s wealthiest area by those metrics, its relative value drops to $79,000 when adjusted for cost of living when compared to other cities, according to the Bureau of Economic Analysis.
San Francisco, Washington, and New York are the nation’s most expensive metro areas to live in, the BEA data shows — with New York’s median household income in 2016 clocking in at $25,000 less than what you’ll find in the San Francisco area.