Cities adding the most high-income households
The number of high-income households in a community can have a large impact on local economics. High-income households — defined by the Internal Revenue Service (IRS) as those earning $200,000 or more per year — generally contribute more dollars to the local and state tax bases and to surrounding businesses. At the same time, this relative economic strength may sway entities to cater more to the preferences of these households to earn their patronage. Quick growth in high-income households may accelerate tax collection and business prosperity, just as their departure may cause some concern for local politicians, business owners, and neighbors.
With this in mind, SmartAsset ranked 357 cities based on the change in high-income households between 2023 and 2024, according to the latest U.S. Census data.