Nationwide, the median household brought in roughly $83,730 in 2024 — a modest 1.3% increase from the previous year. While incomes did edge upward, the pace of growth remained relatively slow, reflecting a broader trend of gradual financial gains rather than rapid improvement for most U.S. families.
Across the country, median household income climbed to $83,730 in 2024, a modest 1.3% increase from the previous year. Because inflation hovered near 3%, many families effectively saw their purchasing power shrink. But the national average masks wide differences. In several major cities—where residents already face higher costs for housing, transportation, and day-to-day living—income growth moved in very different directions, ranging from strong double-digit gains to sharp declines. At the same time, income patterns among seniors, young families, and long-term residents often diverged from overall citywide trends, revealing how uneven economic momentum has become across demographic groups.
Shifts in a city’s income levels can reshape nearly every part of its local economy. When earnings rise or fall, it directly influences how residents spend, which businesses thrive or struggle, and how competitive the job market becomes. These changes also play an important role in determining how new tax policies will impact households, often creating very different outcomes across neighborhoods.
- Tampa, FL experienced one of the most dramatic income jumps in the country, with household earnings rising more than 15% in a single year. The median income climbed from $72,851 to $84,114, marking the strongest year-over-year increase of any major city. Yet the improvement wasn’t shared evenly. Older residents benefited the most, with seniors posting a steep 17.4% rise in income, while households with children saw their median earnings fall by 6.2%, highlighting a growing divide in how different demographic groups are feeling the city’s economic momentum.
- Three major California cities also recorded striking double-digit gains in median household income. Long Beach led the pack, with incomes climbing 11.9% to reach $91,318 — the second-largest jump across all cities analyzed. San Francisco wasn’t far behind, posting a 10.3% rise to an already high $139,801. Fresno rounded out the group with a 10.2% increase, pushing its median income to $74,491 and marking one of the strongest year-over-year improvements in the state.
- San Jose, CA continues to stand out as the highest-earning large city in America, with its median household income now exceeding $148,000. The city saw an impressive 8.8% year-over-year increase, but the gains were not uniform across age groups. Families with children experienced the strongest growth at 13.7%, while seniors saw a steadier but more modest rise of 7.7%. Overall, San Jose placed sixth nationally for income growth, reinforcing its position as one of the country’s most economically dynamic cities.
- Median family income has now surpassed $200,000 in three major cities, marking a significant shift at the top of the income ladder. Families with children in San Francisco ($222,836), Seattle ($221,579), and San Jose ($201,721) earn far more than their counterparts in any other large U.S. city. Just a year ago, Seattle was the only city where families crossed the $200,000 threshold, highlighting how rapidly incomes have grown at the upper end. In contrast, no other large city comes close — family median incomes elsewhere remain below $140,000.
