A recent SmartAsset study, using U.S. Census Bureau data from 2022 to 2023, highlights striking income growth patterns across the country. While the median household income nationwide rose by about 4%, some cities experienced increases of more than 30% in just one year. These rapid gains reflect positive economic growth with higher wages and an influx of well-paid workers in specific areas throughout the country.
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Here are the 10 U.S. cities where salaries are rising the fastest, based on the latest findings. Also learn about other U.S. cities with the highest average salaries.
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1. Pine Hills, Florida
Income growth in one year: 65.1%
2023 Median Income: $71,735
2022 Median Income: $43,452
Pine Hills experienced the most significant increase in median household income, with a 65.1% rise from 2022 to 2023. This surge is partly attributed to a higher proportion of households earning over $100,000 annually, which grew from 15.2% to 27.4% during the same period.
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2. Apple Valley, California
Income growth in one year: 37.3%
2023 Median Income: $77,159
2022 Median Income: $56,187
Apple Valley’s median household income increased by 37.3%, reaching $77,159 in 2023. The share of households earning over $100,000 rose from 24.5% to 38.4%.
3. Kissimmee, Florida
Income growth in one year: 33.1%
2023 Median Income: $59,142
2022 Median Income: $44,445
Kissimmee saw a 33.1% increase in median household income, rising to $59,142 in 2023. Households earning over $100,000 grew from 17.5% to 25.7%.
4. Davis, California
Income growth in one year: 32.7%
2023 Median Income: $89,386
2022 Median Income: $67,373
Davis experienced a 32.7% rise in median household income, reaching $89,386 in 2023. The percentage of households earning over $100,000 increased from 39.9% to 44.0%.
5. Tulare, California
Income growth in one year: 31.9%
2023 Median Income: $77,286
2022 Median Income: $58,586
Tulare’s median household income grew by 31.9%, reaching $77,286 in 2023. Households earning over $100,000 increased from 26.4% to 41.2%.
6. Clearwater, Florida
Income growth in one year: 29.6%
2023 Median Income: $73,178
2022 Median Income: $56,474
Clearwater saw a 29.6% increase in median household income, rising to $73,178 in 2023. The share of households earning over $100,000 grew from 27.6% to 38.4%.
7. Avondale, Arizona
Income growth in one year: 29.4%
2023 Median Income: $86,428
2022 Median Income: $66,801
Avondale’s median household income increased by 29.4%, reaching $86,428 in 2023. Households earning over $100,000 rose from 34.4% to 42.5%.
8. East Orange, New Jersey
Income growth in one year: 29.3%
2023 Median Income: $56,293
2022 Median Income: $43,527
East Orange experienced a 29.3% rise in median household income, reaching $56,293 in 2023. The percentage of households earning over $100,000 increased from 22.4% to 24.8%.
9. Davenport, Iowa
Income growth in one year: 27.4%
2023 Median Income: $69,595
2022 Median Income: $54,630
Davenport saw a 27.4% increase in median household income, rising to $69,595 in 2023. Households earning over $100,000 grew from 22.4% to 29.8%.
10. Walnut Creek, California
Income growth in one year: 27.0%
2023 Median Income: $134,770
2022 Median Income: $106,141
One of the wealthiest cities on this list, Walnut Creek saw significant income growth, likely driven by its proximity to San Francisco and Silicon Valley. The percentage of households earning over $100,000 grew substantially in just one year.
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This article originally appeared on GOBankingRates.com: 10 US Cities Where Salaries Are Increasing the Most
