Yahoo Finance 12 Cities With the Biggest Increases in Household Income
Household income has been on a roller coaster ride since the start of the pandemic, with fluctuations in wages and salaries nationwide. But, some cities saw significant increases in median household income between 2019 and 2021. These swings could be due to various causes, including moving from larger to smaller cities due to remote work arrangements, salary increases due to low unemployment and high worker demand, and more.
See: Cities Whose Economies Are Failing vs. Cities Whose Economies Are Thriving
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Here are the top dozen cities that saw the largest increases in median household income between 2019 and 2021.
The Cities With the Largest Income Increases
In Kansas City, Missouri, the median household income in 2019 was $55,259. By 2021, it had increased to $63,396, an increase of 14.73%. Kansas City is the largest city in Missouri, home to the Kansas City Chiefs football team, the Kansas City Royals baseball team, and the corporate headquarters of Hallmark Cards.
Scottsdale, Arizona, saw its median household income jump 15.10% in two years, from $86,097 to $99,097. Scottsdale has a robust tourism business, and its pleasant weather and numerous outdoor attractions make it a popular destination for retirees and remote workers.
In Fresno, California, one of five California cities in the top twelve, the median household income rose from $53,161 in 2019 to $61,250 in 2022, an increase of 15.22%. Fresno is the largest city in the Central Valley region of California and is located about midway between San Francisco and Los Angeles. This heavily agricultural area is seeing a surge in new farm-to-table restaurants.
The median household income in Fontana, California, was $80,800 in 2019, but rose to $93,851 in 2021, an increase of 16.15%. Fontana is located near the San Bernadino mountains, about 50 miles from Los Angeles. Despite its proximity to busy LA, Fontana has numerous parks, fields, trails and other sports and recreational facilities.
Stockton, California’s annual median household income grew 17.38%, from $59,504 in 2019 to $69,844 in 2021. Stockton is home to the Port of Stockton, the easternmost inland seaport in California, and the University of the Pacific. Stockton is about 80 miles from San Francisco and 100 miles from Lake Tahoe.
Indianapolis is one of just two midwestern cities on the list, with a 17.76% median household income increase from $49,661 in 2019 to $58,479 in 2021. Perhaps best known for the Indianapolis 500, the flagship Formula 1 auto racing event held each May at the Indianapolis Motor Speedway, the city is also home to the Indianapolis Colts NFL team, the Indiana Pacers NBA team and the Indiana Fever WNBA team. The Indianapolis Culture Trail also takes you through the city’s cultural and historical high points.
Fayetteville, North Carolina’s median household income grew from $43,789 in 2019 to $51,629 in 2021, an increase of 17.90%. Fayetteville may be best known as the location of Fort Bragg, but it is also known for its popular arts and culture environment and is a bustling restaurant hub.
In Toledo, Ohio, the median household income was $36,709 in 2019, but rose to $44,150 in 2021, an increase of 20.27%. Toledo has long been known as a manufacturing city with automotive and glass plants. It’s often called the Glass City. It also has popular college and minor league sports teams, dining, and nightlife in the Warehouse District.
The median household income in Winston-Salem, North Carolina, rose 21.65% in two years, from $44,576 in 2019 to $54,228 in 2021. Once known for the headquarters locations of major tobacco brands, companies that now call Winston-Salem home include HanesBrands, Krispy Kreme Donuts and Wells Fargo.
In Moreno Valley, California, median household income grew 21.99%, from $65,449 in 2019 to $79,840 in 2021. Moreno Valley is located about 60 miles east of Los Angeles and is home to the March Air Reserve base.
Huntsville, Alabama, saw its median household income rise 30.21% in two years, from $54,342 in 2019 to $70,757 in 2021. Huntsville is the largest city in Alabama and is well known for being home to NASA’s Marshall Space Flight Center, Cummings Research Park and the Army’s Redstone Arsenal.
The city with the largest increase in median household income from 2019 to 2021 was San Bernardino, California, which saw an increase of 31.35%, from $49,721 in 2019 to $65,311 in 2021.
Where Household Income Fell
Even as some cities saw their median household income rise significantly between 2019 and 2021, this was not the case nationwide. Some cities declined, including Baton Rouge, Louisiana, where income fell 9.96%. Laredo, Texas, saw a drop of 8.75%, and Orlando, Florida, saw an income decline of 7.91%.
If you’re considering a move, quality of life is as important as median income – if not more so – but it doesn’t hurt to consider some areas where income is rising.
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