20 cities on the East Coast where the upper class has grown the most in the last 5 years
Several cities on the East Coast of the United States have shown remarkable growth in the number of high-income households over the past five years. These places, which include both dynamic metropolises and secluded coastal towns, have become attractive to wealthy individuals and their families due to a variety of factors, including economic opportunities, quality of life, and cultural attractions. Even in challenging economic times, the upper middle class continues to make significant strides in their pursuits.
Over the past five years, 20 cities on the East Coast have seen a significant increase in the number of high-income households. The reasons for this growth include economic expansion, job availability, cultural entertainment, easy access to major cities in the area, and attractive living conditions. Residents of large metropolises like New York and small towns like St. Petersburg in Florida have found many reasons to call these places home, which only strengthens their prosperity and vibrancy.
Members of the upper class, which we refer to as households with an income above $150,000 Every year, these cities are consistently chosen as desirable places for living and investment.
Let's consider a few examples:
The number of households with an income of $150,000 or more in 2017: 47,118
The number of households with an income of $150,000 or more in 2022: 83,368
Change in the number of upper-class households over five years: 36,250
Jersey City, New Jersey
The number of households with an income of $150,000 or more in 2017: 18,509
The number of households with an income of $150,000 or more in 2022: 36,141
Change in the number of upper-class households over five years: 17,632
Washington, D.C.
The number of households with an income of $150,000 or more in 2017: 68,384
The number of households with an income of $150,000 or more in 2022: 110,209
Change in the number of upper-class households over five years: 41,825
Arlington, Virginia
The number of households with an income of $150,000 or more in 2017: 35,911
The number of households with an income of $150,000 or more in 2022: 49,899
Change in the number of upper-class households over five years: 13,988
Rolesville, North Carolina
The number of households with an income of $150,000 or more in 2017: 22,816
The number of households with an income of $150,000 or more in 2022: 42,522
Change in the number of upper-class households over five years: 19,706
Since the number of high-income households in Atlanta has increased from29,518in 2017 before56,392In 2022, which represents an increase of 26,874 This city has also become an important center for wealthy families.
The Virginia Beach station in Virginia shows similar trends, with an increase in high-income households.21,805to39,719for the same period, what does it do17,914new households. St. Petersburg, Florida, and here recorded an increase with9,011in 2017 before20,032In 2022, this also indicates a strong interest from wealthy citizens.
New Yorkundoubtedly holds a leading position with496,500households with an income of $150,000 and above in 2017 and807,570In 2022, what does growth mean in311,070households.
Other cities are also showing positive changes. In Orlando, the number of such households has increased from8,648to20,108, in Tampa — with17,965to31,570.
Durham, North Carolina, recorded an increase in11,756to22,994, and Miami — with12,355to28,107which indicates a clear increase in the standard of living.
Charlotte, North Carolina, is also showing growth, having increased from42,408to73,369households. Philadelphia and Richmond also contributed by increasing their upper classes by49,706and7,934households accordingly.
The research methodology includes an analysis of data from the American census for the years 2017 and 2022, which allows for accurate figures and an understanding of which cities have become the most attractive for the upper class in recent years. All data is current as ofApril 22, 2024.
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