Home > Uncategorized > LA Times – America’s richest cities: Census says San Jose, San Francisco

LA Times – America’s richest cities: Census says San Jose, San Francisco

September 21, 2012 Leave a comment Go to comments

The denizens of San Jose, that Silicon Valley gem, haul in a median household income of $76,593, making the city the wealthiest in the country.

That’s compared with the national figure of $50,502, according to new data from the U.S. Census Bureau.

In San Jose, 13.9% of residents go without health insurance coverage, compared with 15.1% nationally. Of the preschool-age population, 56.8% was enrolled in school, compared with 47.4% around the country. Fewer than three in 10 Americans over age 25 have a bachelor’s degree; 36.6% of that demographic in San Jose have graduated from college.

Homes cost more in the city — $540,800 for an owner-occupied property, compared with $173,600 nationwide. The population is more eclectic, with 39.2% foreign-born compared with 13% around the country.

San Francisco, with a median income of $69,894, was the second-richest American metropolitan area. San Diego was fourth with $60,797; Los Angeles fell just shy of the top 10 at $46,148.

Nationwide, the median income slipped 1.3% from 2010, when it was $51,114. The gauge ranged from $70,004 in Maryland to $36,919 in Mississippi. Vermont was the only state that saw an increase — all other states either declined or stayed the same.

In California, income tanked nearly 4% to $57,287 from $59,540.

Statewide poverty increased, with the rate hitting 16.6% last year. In 2011, more than 330,000 Californians fell below the barrier, which considers a family of two adults and two children to be poor if household income is below $22,811.

Fresno, where 25.8% of residents are considered poor, had the second-worst poverty rate among cities. Among metropolitan areas with populations of at least 500,000, the McAllen-Edinburg-Mission region in Texas had a 37.7% rate. The Washington metro area had the lowest rate, with 8.3%.

via LA Times – America’s richest cities: Census says San Jose, San Francisco.

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