In 10 cities, salaries are growing faster than home prices, according to the latest analysis of the 100 largest U.S. metros' Census data.
The top city in the study was San Francisco, with median income growth of $12,706 from 2014 to 2017, and median housing cost growth of $2,064 in that time. CNBC reports that San Fran and second-ranked San Jose, Calif. had the widest-growing gaps between income and housing costs in the study. Other up-and-coming cities on the list include Salt Lake City, Nashville, and recently named the best city in the U.S. (again), Austin, Texas.
Wages in the United States have been mostly stagnant over the past few decades, according to a study from the Pew Research Center. And since 1999, incomes for middle class families, specifically, have actually shrunk in all but two states, another study found. At the same time, housing costs keep increasing.