U.S. Cities With the Highest Income Growth

Nationwide, the median household income reached $83,730 in 2024, growing just 1.3% year over year. This means many households did not keep pace with the roughly 3% inflation rate during the same time period, but that was not true everywhere. Especially in large cities where residents often pay a premium for convenience, infrastructure and amenities, the change in household income swung vastly, in some cases reaching double-digit growth, or even negative growth. Meanwhile, income trends among seniors and young families sometimes differed from the rest of local households.

Changes in incomes across a city can lead to different dynamics on local demand for businesses, job markets, and even have implications for how new tax legislation will affect residents. With this in mind, SmartAsset ranked 50 of the largest U.S. cities by population based on the one-year change in median household incomes between 2023 and 2024, including breakouts for seniors and families.

Key Findings

Income increased by more than 15% in Tampa, FL. Tampa saw the highest one-year change in household incomes, going from $72,851 to $84,114. However, the gains were distributed differently across demographics, with seniors seeing a 17.4% increase year over year, compared to a 6.2% decline in the median income for families with children.
Three California cities also see double-digit growth in median income. The median household income in Long Beach jumped 11.9% to $91,318, the second-highest increase studywide. San Francisco took third place with a 10.3% increase to $139,801, while Fresno followed in fourth with a 10.2% increase to $74,491.
Seniors see the highest income bumps in these cities. Seniors in Seattle gained a whopping 24.1% in median household income to $80,550, despite a 1.5% decline in the median income across all households. Meanwhile, Arlington, TX seniors reported a 19.1% increase to $69,838, and those in Raleigh, NC reported a similar 18.2% increase to $69,882.
The median household income in this city tops $148,000. San Jose, CA remains the highest-paid large city in the United States, after median household income grew by 8.8%. For families with children, the growth was more prominent at 13.7%, compared to seniors, with a more modest 7.7% increase. San Jose ranked sixth for income growth overall.
The median family income now tops $200,000 in three cities. Families with children in San Francisco ($222,836); Seattle ($221,579); and San Jose ($201,721) earn more than in other large cities by far. Last year, Seattle was the only large city where families earned over the $200,000 mark. Across all other large U.S. cities, the median household income for families does not breach $140,000.
Minneapolis households face the largest decline in income. The median income dropped by 4.0% to $77,732 in Minneapolis, dropping below the national median income. In particular, families saw a steep decline, dropping 19.4% from $127,078 to $102,424.

Income Changes by U.S. City

Cities are ranked based on the one-year change in median household income according to the latest Census Bureau data.

1. Tampa, Florida

Change in household income: 15.46%

Household income, 2024: $84,114
Household income, 2023: $72,851
Change in senior income: 17.38%
Senior household income, 2024: $48,632
Senior household income, 2023: $41,431
Change in family income: -6.21%
Family household income, 2024: $97,219
Family household income, 2023: $103,657

2. Long Beach, California

Change in household income: 11.90%

Household income, 2024: $91,318
Household income, 2023: $81,606
Change in senior income: 14.74%
Senior household income, 2024: $73,695
Senior household income, 2023: $64,228
Change in family income: 16.65%
Family household income, 2024: $98,914
Family household income, 2023: $84,793

3. San Francisco, California

Change in household income: 10.31%

Household income, 2024: $139,801
Household income, 2023: $126,730
Change in senior income: 14.48%
Senior household income, 2024: $67,415
Senior household income, 2023: $58,888
Change in family income: 27.51%
Family household income, 2024: $222,836
Family household income, 2023: $174,759

4. Fresno, California

Change in household income: 10.19%

Household income, 2024: $74,491
Household income, 2023: $67,603
Change in senior income: 0.67%
Senior household income, 2024: $56,143
Senior household income, 2023: $55,768
Change in family income: 29.04%
Family household income, 2024: $81,314
Family household income, 2023: $63,013

5. Louisville, Kentucky

Change in household income: 9.37%

Household income, 2024: $67,251
Household income, 2023: $61,488
Change in senior income: -1.26%
Senior household income, 2024: $48,232
Senior household income, 2023: $48,846
Change in family income: 9.60%
Family household income, 2024: $76,692
Family household income, 2023: $69,977

6. San Jose, California

Change in household income: 8.81%

Household income, 2024: $148,226
Household income, 2023: $136,229
Change in senior income: 7.67%
Senior household income, 2024: $84,007
Senior household income, 2023: $78,026
Change in family income: 13.74%
Family household income, 2024: $201,721
Family household income, 2023: $177,360

7. Baltimore, Maryland

Change in household income: 8.73%

Household income, 2024: $64,778
Household income, 2023: $59,579
Change in senior income: 2.01%
Senior household income, 2024: $39,444
Senior household income, 2023: $38,667
Change in family income: 2.11%
Family household income, 2024: $65,554
Family household income, 2023: $64,201

8. Tucson, Arizona

Change in household income: 8.57%

Household income, 2024: $60,483
Household income, 2023: $55,708
Change in senior income: 3.09%
Senior household income, 2024: $48,721
Senior household income, 2023: $47,261
Change in family income: 15.03%
Family household income, 2024: $72,896
Family household income, 2023: $63,374

9. Chicago, Illinois

Change in household income: 8.24%

Household income, 2024: $80,613
Household income, 2023: $74,474
Change in senior income: 12.31%
Senior household income, 2024: $48,564
Senior household income, 2023: $43,242
Change in family income: 6.22%
Family household income, 2024: $86,936
Family household income, 2023: $81,845

10. Mesa, Arizona

Change in household income: 8.13%

Household income, 2024: $85,580
Household income, 2023: $79,145
Change in senior income: 4.94%
Senior household income, 2024: $63,719
Senior household income, 2023: $60,721
Change in family income: 10.63%
Family household income, 2024: $101,812
Family household income, 2023: $92,030

11. Columbus, Ohio

Change in household income: 7.59%

Household income, 2024: $67,084
Household income, 2023: $62,350
Change in senior income: 11.83%
Senior household income, 2024: $52,399
Senior household income, 2023: $46,857
Change in family income: 11.26%
Family household income, 2024: $67,152
Family household income, 2023: $60,354

12. Arlington, Texas

Change in household income: 7.48%

Household income, 2024: $74,388
Household income, 2023: $69,208
Change in senior income: 19.18%
Senior household income, 2024: $69,838
Senior household income, 2023: $58,600
Change in family income: 17.85%
Family household income, 2024: $78,499
Family household income, 2023: $66,607

13. Kansas City, Missouri

Change in household income: 7.26%

Household income, 2024: $69,958
Household income, 2023: $65,225
Change in senior income: 0.15%
Senior household income, 2024: $49,706
Senior household income, 2023: $49,633
Change in family income: -3.42%
Family household income, 2024: $85,518
Family household income, 2023: $88,548

14. Charlotte, North Carolina

Change in household income: 7.24%

Household income, 2024: $86,416
Household income, 2023: $80,581
Change in senior income: 16.25%
Senior household income, 2024: $60,284
Senior household income, 2023: $51,855
Change in family income: 0.80%
Family household income, 2024: $101,022
Family household income, 2023: $100,220

15. Tulsa, Oklahoma

Change in household income: 7.23%

Household income, 2024: $60,930
Household income, 2023: $56,821
Change in senior income: 4.41%
Senior household income, 2024: $51,597
Senior household income, 2023: $49,420
Change in family income: 13.01%
Family household income, 2024: $66,730
Family household income, 2023: $59,049

16. Milwaukee, Wisconsin

Change in household income: 7.17%

Household income, 2024: $56,792
Household income, 2023: $52,992
Change in senior income: -0.87%
Senior household income, 2024: $39,323
Senior household income, 2023: $39,670
Change in family income: 2.28%
Family household income, 2024: $49,787
Family household income, 2023: $48,679

17. Fort Worth, Texas

Change in household income: 7.03%

Household income, 2024: $82,503
Household income, 2023: $77,082
Change in senior income: 5.23%
Senior household income, 2024: $56,340
Senior household income, 2023: $53,540
Change in family income: 9.33%
Family household income, 2024: $100,426
Family household income, 2023: $91,859

18. Phoenix, Arizona

Change in household income: 7.01%

Household income, 2024: $85,246
Household income, 2023: $79,664
Change in senior income: 8.88%
Senior household income, 2024: $62,012
Senior household income, 2023: $56,952
Change in family income: 8.83%
Family household income, 2024: $91,106
Family household income, 2023: $83,717

19. Las Vegas, Nevada

Change in household income: 6.47%

Household income, 2024: $78,556
Household income, 2023: $73,784
Change in senior income: 6.06%
Senior household income, 2024: $60,236
Senior household income, 2023: $56,792
Change in family income: 11.68%
Family household income, 2024: $86,516
Family household income, 2023: $77,471

20. Sacramento, California

Change in household income: 6.35%

Household income, 2024: $91,387
Household income, 2023: $85,928
Change in senior income: 14.55%
Senior household income, 2024: $73,949
Senior household income, 2023: $64,555
Change in family income: -3.62%
Family household income, 2024: $96,061
Family household income, 2023: $99,673

21. Jacksonville, Florida

Change in household income: 6.35%

Household income, 2024: $72,389
Household income, 2023: $68,069
Change in senior income: 9.30%
Senior household income, 2024: $54,209
Senior household income, 2023: $49,598
Change in family income: 7.16%
Family household income, 2024: $75,212
Family household income, 2023: $70,185

22. Portland, Oregon

Change in household income: 6.30%

Household income, 2024: $91,478
Household income, 2023: $86,057
Change in senior income: -5.28%
Senior household income, 2024: $62,083
Senior household income, 2023: $65,542
Change in family income: 15.80%
Family household income, 2024: $134,839
Family household income, 2023: $116,439

23. San Antonio, Texas

Change in household income: 6.18%

Household income, 2024: $66,176
Household income, 2023: $62,322
Change in senior income: 13.56%
Senior household income, 2024: $56,008
Senior household income, 2023: $49,319
Change in family income: 1.40%
Family household income, 2024: $69,906
Family household income, 2023: $68,939

24. New York, New York

Change in household income: 6.07%

Household income, 2024: $81,228
Household income, 2023: $76,577
Change in senior income: 7.35%
Senior household income, 2024: $49,768
Senior household income, 2023: $46,359
Change in family income: 4.60%
Family household income, 2024: $84,234
Family household income, 2023: $80,530

25. Dallas, Texas

Change in household income: 5.99%

Household income, 2024: $74,323
Household income, 2023: $70,121
Change in senior income: 6.38%
Senior household income, 2024: $57,100
Senior household income, 2023: $53,676
Change in family income: 11.16%
Family household income, 2024: $76,837
Family household income, 2023: $69,124

26. Oakland, California

Change in household income: 5.58%

Household income, 2024: $102,235
Household income, 2023: $96,828
Change in senior income: 12.72%
Senior household income, 2024: $68,626
Senior household income, 2023: $60,881
Change in family income: -7.93%
Family household income, 2024: $111,624
Family household income, 2023: $121,238

27. Albuquerque, New Mexico

Change in household income: 5.28%

Household income, 2024: $71,494
Household income, 2023: $67,907
Change in senior income: 3.90%
Senior household income, 2024: $57,180
Senior household income, 2023: $55,034
Change in family income: 30.42%
Family household income, 2024: $87,464
Family household income, 2023: $67,061

28. San Diego, California

Change in household income: 4.97%

Household income, 2024: $111,032
Household income, 2023: $105,780
Change in senior income: 5.80%
Senior household income, 2024: $80,906
Senior household income, 2023: $76,472
Change in family income: 5.39%
Family household income, 2024: $139,852
Family household income, 2023: $132,705

29. El Paso, Texas

Change in household income: 4.56%

Household income, 2024: $59,932
Household income, 2023: $57,317
Change in senior income: -9.93%
Senior household income, 2024: $37,527
Senior household income, 2023: $41,664
Change in family income: 21.07%
Family household income, 2024: $73,513
Family household income, 2023: $60,721

30. Oklahoma City, Oklahoma

Change in household income: 4.51%

Household income, 2024: $70,040
Household income, 2023: $67,015
Change in senior income: -0.10%
Senior household income, 2024: $56,261
Senior household income, 2023: $56,320
Change in family income: -0.16%
Family household income, 2024: $81,803
Family household income, 2023: $81,935

31. Virginia Beach, Virginia

Change in household income: 3.77%

Household income, 2024: $94,579
Household income, 2023: $91,141
Change in senior income: 4.81%
Senior household income, 2024: $75,762
Senior household income, 2023: $72,286
Change in family income: -0.81%
Family household income, 2024: $100,035
Family household income, 2023: $100,848

32. Bakersfield, California

Change in household income: 3.45%

Household income, 2024: $82,093
Household income, 2023: $79,355
Change in senior income: -14.25%
Senior household income, 2024: $56,714
Senior household income, 2023: $66,136
Change in family income: 12.90%
Family household income, 2024: $80,902
Family household income, 2023: $71,660

33. Los Angeles, California

Change in household income: 3.21%

Household income, 2024: $82,263
Household income, 2023: $79,701
Change in senior income: 3.72%
Senior household income, 2024: $58,312
Senior household income, 2023: $56,219
Change in family income: 2.34%
Family household income, 2024: $82,776
Family household income, 2023: $80,886

34. Detroit, Michigan

Change in household income: 2.96%

Household income, 2024: $39,209
Household income, 2023: $38,080
Change in senior income: 7.91%
Senior household income, 2024: $38,666
Senior household income, 2023: $35,831
Change in family income: 0.39%
Family household income, 2024: $37,407
Family household income, 2023: $37,262

35. Houston, Texas

Change in household income: 2.75%

Household income, 2024: $64,361
Household income, 2023: $62,637
Change in senior income: -0.76%
Senior household income, 2024: $48,574
Senior household income, 2023: $48,945
Change in family income: -4.43%
Family household income, 2024: $60,027
Family household income, 2023: $62,808

36. Atlanta, Georgia

Change in household income: 2.66%

Household income, 2024: $88,165
Household income, 2023: $85,880
Change in senior income: 7.89%
Senior household income, 2024: $49,338
Senior household income, 2023: $45,731
Change in family income: -15.59%
Family household income, 2024: $120,231
Family household income, 2023: $142,435

37. Memphis, Tennessee

Change in household income: 2.49%

Household income, 2024: $52,679
Household income, 2023: $51,399
Change in senior income: 0.31%
Senior household income, 2024: $44,558
Senior household income, 2023: $44,419
Change in family income: 15.08%
Family household income, 2024: $51,015
Family household income, 2023: $44,331

38. Washington, District of Columbia

Change in household income: 1.38%

Household income, 2024: $109,707
Household income, 2023: $108,210
Change in senior income: 7.18%
Senior household income, 2024: $70,668
Senior household income, 2023: $65,937
Change in family income: -20.97%
Family household income, 2024: $128,948
Family household income, 2023: $163,171

39. Boston, Massachusetts

Change in household income: 0.89%

Household income, 2024: $97,791
Household income, 2023: $96,931
Change in senior income: 10.29%
Senior household income, 2024: $50,467
Senior household income, 2023: $45,757
Change in family income: 2.45%
Family household income, 2024: $94,119
Family household income, 2023: $91,868

40. Omaha, Nebraska

Change in household income: 0.56%

Household income, 2024: $71,640
Household income, 2023: $71,238
Change in senior income: 1.05%
Senior household income, 2024: $56,769
Senior household income, 2023: $56,178
Change in family income: 1.85%
Family household income, 2024: $94,358
Family household income, 2023: $92,644

41. Colorado Springs, Colorado

Change in household income: 0.55%

Household income, 2024: $83,672
Household income, 2023: $83,215
Change in senior income: -5.07%
Senior household income, 2024: $64,246
Senior household income, 2023: $67,677
Change in family income: 0.24%
Family household income, 2024: $101,688
Family household income, 2023: $101,444

42. Indianapolis, Indiana

Change in household income: 0.41%

Household income, 2024: $66,900
Household income, 2023: $66,629
Change in senior income: -2.16%
Senior household income, 2024: $49,277
Senior household income, 2023: $50,364
Change in family income: 1.46%
Family household income, 2024: $71,925
Family household income, 2023: $70,887

43. Philadelphia, Pennsylvania

Change in household income: 0.36%

Household income, 2024: $60,521
Household income, 2023: $60,302
Change in senior income: 13.62%
Senior household income, 2024: $40,740
Senior household income, 2023: $35,855
Change in family income: 3.54%
Family household income, 2024: $62,456
Family household income, 2023: $60,318

44. Nashville, Tennessee

Change in household income: -0.16%

Household income, 2024: $80,090
Household income, 2023: $80,217
Change in senior income: -2.29%
Senior household income, 2024: $58,258
Senior household income, 2023: $59,621
Change in family income: -0.23%
Family household income, 2024: $86,759
Family household income, 2023: $86,963

45. Austin, Texas

Change in household income: -1.17%

Household income, 2024: $90,430
Household income, 2023: $91,501
Change in senior income: -5.15%
Senior household income, 2024: $71,308
Senior household income, 2023: $75,183
Change in family income: -10.68%
Family household income, 2024: $125,672
Family household income, 2023: $140,691

46. Raleigh, North Carolina

Change in household income: -1.45%

Household income, 2024: $85,060
Household income, 2023: $86,309
Change in senior income: 18.25%
Senior household income, 2024: $69,882
Senior household income, 2023: $59,098
Change in family income: -17.51%
Family household income, 2024: $101,417
Family household income, 2023: $122,950

47. Seattle, Washington

Change in household income: -1.54%

Household income, 2024: $118,745
Household income, 2023: $120,608
Change in senior income: 24.13%
Senior household income, 2024: $80,550
Senior household income, 2023: $64,894
Change in family income: 6.95%
Family household income, 2024: $221,579
Family household income, 2023: $207,188

48. Denver, Colorado

Change in household income: -1.76%

Household income, 2024: $92,504
Household income, 2023: $94,157
Change in senior income: 3.79%
Senior household income, 2024: $59,002
Senior household income, 2023: $56,846
Change in family income: 12.84%
Family household income, 2024: $138,547
Family household income, 2023: $122,787

49. Miami, Florida

Change in household income: -3.35%

Household income, 2024: $66,337
Household income, 2023: $68,635
Change in senior income: 3.01%
Senior household income, 2024: $27,353
Senior household income, 2023: $26,554
Change in family income: 24.46%
Family household income, 2024: $69,030
Family household income, 2023: $55,462

50. Minneapolis, Minnesota

Change in household income: -4.04%

Household income, 2024: $77,732
Household income, 2023: $81,001
Change in senior income: 6.75%
Senior household income, 2024: $59,322
Senior household income, 2023: $55,573
Change in family income: -19.40%
Family household income, 2024: $102,424
Family household income, 2023: $127,078

Data and Methodology

This study considers the 50 largest U.S. cities by population with available data. Population and income data comes from the U.S. Census Bureau 1-Year American Community Survey for 2024 and 2023. Cities are ranked based on the one-year change in median household income. Median household income for seniors and families with children under age 18 are also examined.

Questions about this study? Contact us at press@smartasset.com