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
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development