In a number of U.S. cities — particularly those on the West Coast — wealth has been multiplying.
The financial services site GoBankingRates recently compiled the 100 cities with the highest mean household income and a minimum of 7,500 households, according to the Census Bureau's 2022 American Community Survey. Then, analysts combined each city's 2019 and 2022 mean household income and a three-year percent change in mean household income into a score. The percentage of the population with a household income greater than $200,000 for each 2019 and 2022, and a three-year percent change for those households, was also factored in.
These are the 25 cities where "the rich are getting richer," according to the analysis:
1. Los Altos, Calif.
2. Wellesley, Mass.
3. McLean, Va.
4. Los Gatos, Calif.
5. Southlake, Texas
6. Saratoga, Calif.
7. Menlo Park, Calif.
8. Cupertino, Calif.
9. Palo Alto, Calif.
10. Lafayette, Calif.
11. Bainbridge Island, Wash.
12. Mercer Island, Wash.
13. San Carlos, Calif.
14. Naples, Fla.
15. Winchester, Mass.
16. Issaquah, Wash.
17. Santa Clara, Calif.
18. Calabasas, Calif.
19. Needham, Mass.
20. Westfield, N.J.
21. Dix Hills, N.Y.
22. Sammamish, Wash.
23. Danville, Calif.
24. Lexington, Mass.
25. Marblehead, Mass.