Where Incomes Are Keeping Up With Inflation: 636 U.S. Cities by Income Growth
Inflation consistently drives up the prices of goods, services, and resources, reducing the purchasing power of the dollar and making the cost of living increasingly unaffordable.
A recent SmartAsset study, based on U.S. Census Bureau data from 2022 to 2023, reveals notable income growth trends across the nation.
While the median household income increased by around 4% nationwide, certain cities saw gains exceeding 30% within a single year. These sharp rises point to robust economic expansion, driven by rising wages and an influx of high-earning professionals in specific regions.
Pine Hills, FL experienced the largest jump in median household income, rising an impressive 65% from $43,452 in 2022 to $71,735 in 2023. A key factor in this increase was the surge in higher-earning households—those making over $100,000 annually grew from 15.2% to 27.4%, significantly boosting the overall median.
Four other cities also saw median incomes rise by more than 30%. Apple Valley, CA reported a 37.3% increase, bringing its median household income close to the national average at $77,159. In Kissimmee, FL, incomes climbed 33.1% to reach $59,142 by the end of 2023. Davis, FL posted a 32.7% gain, with a median income of $89,386, while Tulare, CA rounded out the top five with a 31.9% increase to $77,286.
Sammamish, WA reported the highest median household income in 2023, reaching $238,750 after a 6.7% rise from $223,849 in 2022. A majority of its residents are high earners: 82.8% of households earned more than $100,000, and 57.9% earned over $200,000.
Meanwhile, Marysville, WA saw the steepest decline in income, dropping nearly 18% from $104,433 in 2022 to $85,708 in 2023. Other cities experiencing significant income decreases included Champaign, IL (-17.7%), Madera, CA (-17.5%), Baton Rouge, LA (-17.2%), and Union City, CA (-16.2%).
