Where income increased most across the US

SevenMaps // Shutterstock

Where income increased most across the US

Inflation regularly increases the prices of goods, services, and resources, making the cost of living less affordable with a dollar that does not keep up with that growth. The Bureau of Labor Statistics clocked the 12-month inflation rate from the end of 2022 to the end of 2023 at 3.35%. Meanwhile, household income estimates shifted a median of 4.22%, but swung as much as multiples above or below that—depending on the city—offsetting or exacerbating the impacts of price changes. 

With this in mind, SmartAsset ranked 636 cities based on the percent change in median household income over one year, according to the latest data from the Census Bureau.

Key Findings

• Pine Hills, FL saw the highest increase in median income. The median income rose by an estimated 65% in Pine Hills, going from $43,452 in 2022 to $71,735 in 2023. The share of households earning over $100,000 per year increased from 15.2% to 27.4% in this timeframe, helping to bolster the median. 
• Income rose by over 30% in four other cities. Rounding out the top five, Apple Valley, CA saw a 37.3% increase in median household income, with residents nearly at par with the U.S. median in 2023 at $77,159. Kissimmee, FL ended 2023 with a slightly lower-than-average median income at $59,142 after a 33.1% increase. Davis, FL incomes grew by 32.7%, landing at $89,386. In fifth place, Tulare, CA households earned a median of  $77,286 after a 31.9% annual increase.
• The median income in this city is nearly $239,000. Sammamish, WA had the highest median income in 2023 at $238,750. This comes after a 6.7% increase from $223,849. Additionally, 57.9% of households earned more than $200,000, while 82.8% of households earned more than $100,000.
• Households in this city saw a nearly 18% drop in median household income. Marysville, WA had the largest drop in income, going from $104,433 in 2022 to $85,708 in 2023. Other cities with the largest drops include Champaign, IL (-17.7%); Madera, CA (-17.5%); Baton Rouge, LA (-17.2%); and Union City, CA (16.2%).

SmartAsset

Top 10 Places Where Income Increased the Most

Cities are ranked according to the percent change in estimated median household income between 2023 and 2022.

1. Pine Hills, Florida

• One-year change in median income: 65.09%
• Median income, 2023: $71,735
• Median income, 2022: $43,452
• Percent of households earning $100k or more, 2023: 27.4%
• Percent of households earning $100k or more, 2022: 15.2%
• Percent of households earning $200k or more, 2023: 1.8%
• Percent of households earning $200k or more, 2022: 4.5%

2. Apple Valley, California

• One-year change in median income: 37.33%
• Median income, 2023: $77,159
• Median income, 2022: $56,187
• Percent of households earning $100k or more, 2023: 38.4%
• Percent of households earning $100k or more, 2022: 24.5%
• Percent of households earning $200k or more, 2023: 6.9%
• Percent of households earning $200k or more, 2022: 7.8%

3. Kissimmee, Florida

• One-year change in median income: 33.07%
• Median income, 2023: $59,142
• Median income, 2022: $44,445
• Percent of households earning $100k or more, 2023: 25.7%
• Percent of households earning $100k or more, 2022: 17.5%
• Percent of households earning $200k or more, 2023: 3.2%
• Percent of households earning $200k or more, 2022: 1.8%

4. Davis, California

• One-year change in median income: 32.67%
• Median income, 2023: $89,386
• Median income, 2022: $67,373
• Percent of households earning $100k or more, 2023: 44%
• Percent of households earning $100k or more, 2022: 39.9%
• Percent of households earning $200k or more, 2023: 21.3%
• Percent of households earning $200k or more, 2022: 18.2%

5. Tulare, California

• One-year change in median income: 31.92%
• Median income, 2023: $77,286
• Median income, 2022: $58,586
• Percent of households earning $100k or more, 2023: 41.2%
• Percent of households earning $100k or more, 2022: 26.4%
• Percent of households earning $200k or more, 2023: 7.7%
• Percent of households earning $200k or more, 2022: 6.3%

6. Clearwater, Florida

• One-year change in median income: 29.58%
• Median income, 2023: $73,178
• Median income, 2022: $56,474
• Percent of households earning $100k or more, 2023: 38.4%
• Percent of households earning $100k or more, 2022: 27.6%
• Percent of households earning $200k or more, 2023: 9%
• Percent of households earning $200k or more, 2022: 9.7%

7. Avondale, Arizona

• One-year change in median income: 29.38%
• Median income, 2023: $86,428
• Median income, 2022: $66,801
• Percent of households earning $100k or more, 2023: 42.5%
• Percent of households earning $100k or more, 2022: 34.4%
• Percent of households earning $200k or more, 2023: 9.6%
• Percent of households earning $200k or more, 2022: 5.1%

8. East Orange, New Jersey

• One-year change in median income: 29.33%
• Median income, 2023: $56,293
• Median income, 2022: $43,527
• Percent of households earning $100k or more, 2023: 24.8%
• Percent of households earning $100k or more, 2022: 22.4%
• Percent of households earning $200k or more, 2023: 7.2%
• Percent of households earning $200k or more, 2022: 4.6%

9. Davenport, Iowa

• One-year change in median income: 27.39%
• Median income, 2023: $69,595
• Median income, 2022: $54,630
• Percent of households earning $100k or more, 2023: 29.8%
• Percent of households earning $100k or more, 2022: 22.4%
• Percent of households earning $200k or more, 2023: 5.3%
• Percent of households earning $200k or more, 2022: 3.5%

10. Walnut Creek, California

• One-year change in median income: 26.97%
• Median income, 2023: $134,770
• Median income, 2022: $106,141
• Percent of households earning $100k or more, 2023: 62.4%
• Percent of households earning $100k or more, 2022: 51.8%
• Percent of households earning $200k or more, 2023: 31.7%
• Percent of households earning $200k or more, 2022: 31.2%

Top 10 Places With the Highest Median Income

Cities are ranked according to the highest estimated median household income in 2023.

1. Sammamish, Washington

• Median income, 2023: $238,750
• Median income, 2022: $223,849
• One-year change in median income: 6.66%
• Percent of households earning $100k or more, 2023: 82.8%
• Percent of households earning $100k or more, 2022: 78.8%
• Percent of households earning $200k or more, 2023: 57.9%
• Percent of households earning $200k or more, 2022: 54.8%

2. San Ramon, California

• Median income, 2023: $195,491
• Median income, 2022: $192,291
• One-year change in median income: 1.66%
• Percent of households earning $100k or more, 2023: 75.7%
• Percent of households earning $100k or more, 2022: 76.2%
• Percent of households earning $200k or more, 2023: 48.7%
• Percent of households earning $200k or more, 2022: 48.7%

3. Bethesda, Maryland

• Median income, 2023: $191,198
• Median income, 2022: $158,720
• One-year change in median income: 20.46%
• Percent of households earning $100k or more, 2023: 73.2%
• Percent of households earning $100k or more, 2022: 68.5%
• Percent of households earning $200k or more, 2023: 48.7%
• Percent of households earning $200k or more, 2022: 39.6%

4. Sunnyvale, California

• Median income, 2023: $189,443
• Median income, 2022: $169,781
• One-year change in median income: 11.58%
• Percent of households earning $100k or more, 2023: 74.2%
• Percent of households earning $100k or more, 2022: 68.8%
• Percent of households earning $200k or more, 2023: 48.6%
• Percent of households earning $200k or more, 2022: 43.7%

5. Newton, Massachusetts

• Median income, 2023: $185,154
• Median income, 2022: $163,074
• One-year change in median income: 13.54%
• Percent of households earning $100k or more, 2023: 72.1%
• Percent of households earning $100k or more, 2022: 67.1%
• Percent of households earning $200k or more, 2023: 47.3%
• Percent of households earning $200k or more, 2022: 42.4%

6. Palo Alto, California

• Median income, 2023: $184,068
• Median income, 2022: $179,707
• One-year change in median income: 2.43%
• Percent of households earning $100k or more, 2023: 68.9%
• Percent of households earning $100k or more, 2022: 70.7%
• Percent of households earning $200k or more, 2023: 46.9%
• Percent of households earning $200k or more, 2022: 45.6%

7. Mountain View, California

• Median income, 2023: $181,671
• Median income, 2022: $165,448
• One-year change in median income: 9.81%
• Percent of households earning $100k or more, 2023: 71.6%
• Percent of households earning $100k or more, 2022: 69.5%
• Percent of households earning $200k or more, 2023: 45.2%
• Percent of households earning $200k or more, 2022: 43.3%

8. Milpitas, California

• Median income, 2023: $179,727
• Median income, 2022: $169,818
• One-year change in median income: 5.84%
• Percent of households earning $100k or more, 2023: 72.9%
• Percent of households earning $100k or more, 2022: 72.3%
• Percent of households earning $200k or more, 2023: 47.2%
• Percent of households earning $200k or more, 2022: 41.7%

9. Pleasanton, California

• Median income, 2023: $177,535
• Median income, 2022: $183,969
• One-year change in median income: -3.50%
• Percent of households earning $100k or more, 2023: 75.9%
• Percent of households earning $100k or more, 2022: 74.6%
• Percent of households earning $200k or more, 2023: 43.8%
• Percent of households earning $200k or more, 2022: 47.5%

10. Redmond, Washington

• Median income, 2023: $172,979
• Median income, 2022: $152,851
• One-year change in median income: 13.17%
• Percent of households earning $100k or more, 2023: 70.5%
• Percent of households earning $100k or more, 2022: 68.5%
• Percent of households earning $200k or more, 2023: 42.8%
• Percent of households earning $200k or more, 2022: 34.5%

Data and Methodology

SmartAsset examined data for estimated local median household incomes from the U.S. Census Bureau for 2023 and 2022 for 636 cities with available data and a population of at least 65,000. The percentage of households earning at least $100,000 and at least $200,000 in each year was also examined.

This story was produced by SmartAsset and reviewed and distributed by Stacker.