(Nexstar) – How much money you earn really depends on where you live in the U.S.
A study by SmartAsset reveals that U.S. households have seen a 1.3% increase in income over the past year, leading to an average household income of around $83,730.
But some cities have experienced much more significant income growth than others. SmartAsset sifted through the latest data from the U.S. Census Bureau to assess the median incomes of residents in 50 cities for 2023 and 2024.
At the top of the list is Tampa, Florida, which boasts a 15.46% increase in household income, now averaging $84,114, up from $72,851.
Following Tampa, three California cities—Long Beach, San Francisco, and Fresno—ranked in with a 10-11% increase in household income.
Here are 15 cities where income is rising more rapidly compared to other areas across the country.
| Rank | City | Change in Household Income | Household Income, 2024 | Household Income, 2023 |
|---|---|---|---|---|
| 1 | Tampa, Florida | 15.46% | $84,114 | $72,851 |
| 2 | Long Beach, California | 11.90% | $91,318 | $81,606 |
| 3 | San Francisco, California | 10.31% | $139,801 | $126,730 |
| 4 | Fresno, California | 10.19% | $74,491 | $67,603 |
| 5 | Louisville, Kentucky | 9.37% | $67,251 | $61,488 |
| 6 | San Jose, California | 8.81% | $148,226 | $136,229 |
| 7 | Baltimore, Maryland | 8.73% | $64,778 | $59,579 |
| 8 | Tucson, Arizona | 8.57% | $60,483 | $55,708 |
| 9 | Chicago, Illinois | 8.24% | $80,613 | $74,474 |
| 10 | Mesa, Arizona | 8.13% | $85,580 | $79,145 |
| 11 | Columbus, Ohio | 7.59% | $67,084 | $62,350 |
| 12 | Arlington, Texas | 7.48% | $74,388 | $69,208 |
| 13 | Kansas City, Missouri | 7.26% | $69,958 | $65,225 |
| 14 | Charlotte, North Carolina | 7.24% | $86,416 | $80,581 |
| 15 | Tulsa, Oklahoma | 7.23% | $60,930 | $56,821 |
On the flip side, some cities are actually seeing a decline in household income.
Minneapolis, Minnesota, takes the lead in this regard, exhibiting the most substantial drop in income, while Miami, Florida, follows behind with a decrease of 3.35%.
Here’s a brief look at the cities experiencing diminished earnings.
| Rank | City | Change in Household Income | Household Income, 2024 | Household Income, 2023 |
|---|---|---|---|---|
| 50 | Minneapolis, Minnesota | -4.04% | $77,732 | $81,001 |
| 49 | Miami, Florida | -3.35% | $66,337 | $68,635 |
| 48 | Denver, Colorado | -1.76% | $92,504 | $94,157 |
| 47 | Seattle, Washington | -1.54% | $118,745 | $120,608 |
| 46 | Raleigh, North Carolina | -1.45% | $85,060 | $86,309 |
| 45 | Austin, Texas | -1.17% | $90,430 | $91,501 |
| 44 | Nashville, Tennessee | -0.16% | $80,090 | $80,217 |
For the entire list of cities, you can view SmartAsset’s research.
