The U.S. continuously ranks as one of the most affluent countries in the world. According to the World Bank, the U.S. is the ninth wealthiest nation. However, since the 2008 recession, the wealth gap within the country has only continued to grow.
According to Pew Research, the U.S. wealth gap is the largest it has been in decades. As one would expect, the upper class holds, and has always held, a large percentage of the U.S. aggregate household income. However, the past 40 years have seen a remarkable increase. As of 2014, the upper class held 49 percent of U.S. aggregate household income — up from 29 percent in 1970.
The experts at FindTheHome wanted to see which cities in America are home to the nation’s wealthiest. Though there are various metrics for measuring wealth, such as net worth or gross metropolitan product per capita, we used data from the American Community Survey to look at the average per capita income in American cities larger than 4,000 people. The wealthiest city in every state is listed. We also provide demographic factors such as martial status and education level for context.
Many of these cities are small suburbs located near major metropolitan areas — areas that typically provide the higher-paying jobs. When looking at the demographics of these wealthy communities, certain trends emerge.
[Tweet “Palm Beach ranks no. 3 richest US city”]
The skilled nature of many high-paying jobs warrants higher levels of education. And, affluent areas tend to attract married couples who have, or are planning on having, children. This might help explain why marriage rates and education levels are above average in the majority of these towns.
According to the most recent 2014 estimates from the American Community Survey, only 48.4 percent of U.S. adults were married and 29.3 percent had a bachelor’s degree or higher.
Palm Beach ranks no. 3
Population: 8,344
Average Per Capita Income in Palm Beach, FL: $129,941
Average Per Capita Income in Florida: $26,499
Percentage with a Bachelor’s Degree or Higher: 61.3%
Percentage that is Married: 57.9%
