Despite many corporations moving their suburban headquarters to larger cities, amplifying the existing theory that wealthy Americans prefer to live in urban areas, the latest Census data draws an altogether different conclusion, per newgeography.com.
Joel Kotkin originally reported on Forbes.com that in the top 53 metros, suburbs house 71.5% of the highest earners.
The very top of this pyramid consists largely of two archetypes, elite “superstar” cities, but more so well-located suburbs, often near the most dynamic cores. Many are areas that have benefited the most from the post-Great Recession boom in technology as well as in the much larger business and professional services sector.
Advertisement
Related Stories
Market Data + Trends
Vacation and Investment Home Market Insights
A recent report finds beach homes to be the most sought-after vacation-home type and that the investment potential of a second home is an important factor in the purchasing decision
Affordability
How Much Income Do First-Time Buyers Need to Afford the Average Home?
The median-priced home is unaffordable in 44 of the 50 largest U.S. metro areas
Affordability
What Is the Relationship Between Urban vs. Suburban Development and Affordability?
A new paper from Harvard's Joint Center looks at whether expanding the supply of suburban housing could, in turn, help make dense urban areas more affordable