Top 25 Richest Metropolitan Areas In US
The US Census recently published its list of US metropolitan areas with the highest concentrations of wealth—areas where the largest portion of population earn incomes in the top 5th percentile.
The richest city in America is Bridgeport, Conn., a suburb of New York City. Home to many of the nation’s hedge fund billionaires, the city also has a struggling industrial side. Although it has the highest proportion of top 5-percentes in the country, its median household income is only about $30,000.
Other cities on the list, such as Midland, Texas, boast more evenly-distributed wealth. The unemployment rate in petroleum-rich Midland is only 3 percent and 25 percent of the labor force works in mining. The city’s large wages are highly dependent on natural resources and the price of energy.
Other cities, such as San Francisco, San Jose, Boston and New York City, are dependent on human resources. The high wages in the cities are thanks to highly-educated and innovative people of the 21st Century,
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