High-Income Households Drive Growth in Emerging Cities

This analysis found that ten US cities saw increases of at least 120% in households making $200,000 or more. Spokane Valley added over 1,500 high-income households, increasing its share from 1.8% to 5.1% in 2022.

Allentown, Pennsylvania, added 830 high-income households, ranking second. Evansville, Indiana, saw a 150% increase, adding 816 high-income households, and was noted by the Wall Street Journal for its appeal to remote workers due to a median housing price of $183,000.

Four cities in the South and Southwest, including Killeen, Texas; San Tan Valley, Arizona; Jackson, Mississippi; and Palmdale, California, each experienced increases at or above 120%. New England cities like Springfield, Massachusetts (141.7%), New Haven, Connecticut (136.4%), and Manchester, New Hampshire (134.1%), also ranked high.

These migrations, often from high-cost areas like California and Texas, are expected to have significant long-term impacts on local economies and housing markets in the receiving cities.