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