Wednesday
April 16, 2014

6 Cities With Highest Income Inequality

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6 Cities With Highest Income Inequality

The American middle class is a shrinking group: About 51 percent of the population was classified as middle class at the start of this decade, a drop from 61 percent 40 years earlier. Income inequality is widening nationwide, with the gap between the wealthy and the poor varying across the nation, USA Today reports. 

24/7 Wall St. used the Census Bureau’s 2012 American Community Survey data to find the metro areas with the highest income inequality. Most of the metro areas identified have extreme cases of income inequality that is evident in urban and suburban neighborhoods:

  1. Sebastian-Vero Beach, Fla.
    Median income: $40,413
    Poverty rate: 17.2%
    Percentage with income over $200,000: 7.1%
  2. Bridgeport-Stamford-Norwalk, Conn.
    Median income: $79,841
    Poverty rate: 8.9%
    Percentage with income over $200,000: 21.8%
  3. Naples-Marco Island, Fla.
    Median income: $54,126
    Poverty rate: 13.8%
    Percentage with income over $200,000: 9.6%
  4. Albany, Ga.
    Median income: $34,469
    Poverty rate: 26.9%
    Percentage with income over $200,000: 3.6%
  5. New York-Northern New Jersey-Long Island, N.Y.-N.J.-Penn.
    Median income: $63,982
    Poverty rate: 14.8%
    Percentage with income over $200,000: 11.3%
  6. Jackson, Miss.
    Median income: $42,604
    Poverty rate: 22.2%
    Percentage with income over $200,000: 4.8%

Source: “Cities with the Widest Gap Between the Rich and Poor,” 24/7 Wall St. (Nov. 4, 2013)

Read more: 

Middle-Class Buyers Getting Edged Out?
Grassroots Solution to the Affordability Gap