These US cities are making more money than last year, says new report
(NEXSTAR) - How much money you bring in varies drastically depending on where you live in the U.S., and while the cost of living continues to rise across the country, the amount of income being earned nationwide is slowly rising as well.
According to a new study from SmartAsset, residents in the U.S. saw a 1.3% increase in household income from last year, with the average household bringing in roughly $83,730 a year.
Some cities in particular saw a much larger increase year over year than the rest of the country. To find which cities stood out, SmartAsset examined the latest U.S. Census Bureau data and examined what the median household income was for American residents living in the 50 largest U.S. cities in 2023 and 2024.
Tampa, FL landed at the top of the list with a 15.46% increase in household income, going from the average income being $72,851 to now being $84,114.
After Tampa, three California cities were listed with Long Beach, San Francisco, and Fresno all seeing between a 10-11% increase in household income.
Here are the 15 cities that are seeing more income year over year than the rest of the country, according to SmartAsset.
Rank City Change in household income Household income, 2024 Household income, 2023 1 Tampa, FL 15.46% $84,114 $72,851 2 Long Beach, CA 11.90% $91,318 $81,606 3 San Francisco, CA 10.31% $139,801 $126,730 4 Fresno, CA 10.19% $74,491 $67,603 5 Louisville, KY 9.37% $67,251 $61,488 6 San Jose, CA 8.81% $148,226 $136,229 7 Baltimore, MD 8.73% $64,778 $59,579 8 Tucson, AZ 8.57% $60,483 $55,708 9 Chicago, IL 8.24% $80,613 $74,474 10 Mesa, AZ 8.13% $85,580 $79,145 11 Columbus, OH 7.59% $67,084 $62,350 12 Arlington, TX 7.48% $74,388 $69,208 13 Kansas City, MO 7.26% $69,958 $65,225 14 Charlotte, NC 7.24% $86,416 $80,581 15 Tulsa, OK 7.23% $60,930 $56,821
On the other end of the spectrum, several cities are actually making less money year over year.
Minneapolis, MN ranks as the major city with the largest difference in household income, seeing 4.04% less money year over year, with Miami, FL, not far behind, making 3.35% less income.
Here's the full list of cities seeing less money on average, according to SmartAsset.
Rank City Change in household income Household income, 2024 Household income, 2023 50 Minneapolis, MN -4.04% $77,732 $81,001 49 Miami, FL -3.35% $66,337 $68,635 48 Denver, CO -1.76% $92,504 $94,157 47 Seattle, WA -1.54% $118,745 $120,608 46 Raleigh, NC -1.45% $85,060 $86,309 45 Austin, TX -1.17% $90,430 $91,501 44 Nashville, TN -0.16% $80,090 $80,217
To see the full list of cities, check out SmartAsset's study on their website.
