Tuesday, February 12, 2013

The Five-Percent Club

Among the 50 largest metropolitan areas, San Jose, California, has the largest concentration of high-income households according to the Census Bureau. Using 2006 to 2011 income data from the American Community Survey, the bureau defines high-income households as those with incomes in the top 5 percent--or an annual income of at least $191,469. In San Jose, 15.9 percent of households are in the Five-Percent Club.

Only three other major metros have at least 10 percent of their households in the Five-Percent Club: Washington, D.C. (14.1 percent), San Francisco (13.0 percent), and New York (10.0 percent). Among all metro areas, the largest concentration of Five Percenter households is found in Bridgeport-Stamford-Norwalk, Connecticut, with 17.9 percent having annual incomes of $191,469 or more. Trenton, New Jersey, is another smaller metro with Five Percenters in the double digits (11.6 percent).

The Census Bureau report also examines the bottom of the list--the metros with the smallest concentration of high-income households. At the bottom are two Danvilles--Virginia and Illinois--where only 1.1 percent of households are in the Five-Percent Club.

Source: Census Bureau, The Geographic Concentration of High-Income Households: 2007-2011

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