Across all age groups, Americans spend most of their money on housing, followed by transportation, food, and insurance. In 2018, American households collectively held over $98 trillion in wealth. Wealth is net worth, which accounts for assets minus debt. Some 75% of aggregate household assets are financial, like stocks, mutual funds, retirement accounts, and owned businesses. Americans invest the majority of their non-financial assets in real estate. US households also commonly face large debt or liabilities like mortgages and student and car loans.

　　The $113 trillion in assets held collectively by Americans in 2018 is more than five times the worth of all goods and services the country produces yearly. If divided evenly, each household would have over $343,000, which is not the case. Unfortunately, the current law, federal and state taxes do very little for wealth distribution to accommodate low-earners. Instead, it favors affluent families. In 2022, a small group of households in America holds 30% of the wealth (or $39 trillion). The "0.01 %," primarily accumulate their wealth from the equity in corporations.

　　This list ranks the wealthiest cities in the US according to their median household income. Areas with high unemployment usually correlate with a lowered median household income. Likewise, the strong US job markets and low unemployment equate to higher prosperity within metropolitan areas.

　　

1. San Jose, California

MHI: $110,040 Aerial view of San Jose, California. Image credit Dreamframer via Shutterstock Located in the Santa Clara Valley, San Jose is the richest metro area by far, with a median household income of $110,040, surpassing the runner-up by over $13,000. Over 22% of households earn $200,000 or more, and 50.1% of San Jose's education-driven populace boasts a bachelor's degree or higher. The area covers much of the innovative Silicon Valley tech hub, comprising the San Francisco Bay Area's southern reaches.

　　World-renowned big, innovative companies and the region’s largest employers include Apple, Adobe Systems, Apple, Intel, Lockheed Martin, and NASA. With a low unemployment rate of 2.7%, it is no surprise that the San Jose metro area is first on this list. Over a quarter of its workforce is in IT, or professional, scientific, and management industries, compared to the nationwide 13.5%.

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2. San Francisco, California

MHI: $96,677 Skyline of San Francisco, California. Image credit Sean Pavone via Shutterstock San Fransisco metro area places second with a median household income of $96,677, nearly threefold that of the country's poorest city, Laredo in Texas. It is home to an impressive 48.5% of adults with a bachelor’s degree or higher and 19.5% of households that earn $200,000 or more. The unemployment rate is also 2.7%, one of the country's lowest.

　　With a typical home valued at just under $800,000, San Francisco exemplifies how affluent areas are often subject to high prices, including housing. The Bay Area’s high earners still prosper while living in houses that quadruple the median nationwide home value.

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3. Alexandria, Virginia

MHI: $95,843 Alexandria, Virginia, near Washington DC. Image credit MISHELLA via Shutterstock The DC area's slightly lower median household income of $95,843 is impressive, with a notably higher jobless rate of 3.6%. The greater DC area is more affluent than any other along the east coast, with 16.2% of households earning $200,000 or more. Alexandria also boasts the second-highest share of the workforce in the US in high-paying professional fields.

　　With over 50% of adults bachelor graduates or higher, this area is one of the few in the country with over half of their adults highly educated. Many wealthy citizens in Washington DC work high-paying legal and government jobs with over 20% employed in the professional, scientific, and management industries area-wide.

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4. Bridgeport, and Stamford, Connecticut

MHI: $90,123 Stamford, Connecticut, is the primary business hub in Fairfield County near Bridgeport. Image credit barbsimages via Shutterstock Despite a sizable drop of over $5,000 from the previous area, Fairfield County still fairs well in fourth place with a $90,123 median household income. The area is home to Bridgeport, one of the nation's poorest cities that evens out the high-earning professionals who commute to New York City for work. Stamford is also a primary business hub in the region.

　　Even still, 19.2% of households in the area earn $200,000 or more for the fourth-highest share in the US. This metro area has signs of the uneven income distribution, with 46.6% highly-educated adults and an unemployment rate of 4.6%.

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5. Boston, Cambridge, and Newton, Massachusetts

MHI: $82,380 Boston, Massachusetts skyline with Faneuil Hall and Quincy Market at dusk. Image credit Sean Pavone via Shutterstock Massachusetts and cities around the state capital earn a median household income of $82,380, for an $8,000 drop from the metro area above. The fifth wealthiest place on this list is the second wealthiest in New England, with 13.1% of households earning $200,000 and a 3.4% jobless rate. Boston metro area earns almost $25,000 more than a typical US household's $57,617.

　　Boston University, Harvard University, and Northeastern University awarded over 100,000 degrees in 2015 and helped "sponsor" the recent 46.9% holding a bachelor's or higher. The high concentration of educational institutions makes for one of the most-educated areas in the US compared to the nationwide rate of 31.3% of American graduates.

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6. Anchorage, Alaska

MHI: $82,203 Aerial view of a sunset over downtown Anchorage, Alaska. Image credit Jacob Boomsma via Shutterstock In the cold, northern, massive state of Alaska, known for its high wages, Anchorage residents earn the most at $82,203 per household a year. Frigid and dark winters and lukewarm summers help keep the people occupied, despite the 7.2% unemployment rate. With low work opportunities, the government appreciates those sticking around in the overcast, most populous city in the state. 

　　All kinds of workers earn high wages for a relatively even income distribution, with 9.4% earning $200,000 or more. Only 32.2% of adults boast a bachelor's or higher, enough for the state's most demanded service jobs; fishing and tourism. A typical Anchorage household earns $25,000 more yearly than the nationwide median but pays one of the US' highest living costs. Housing is expensive, and transportation costs across difficult terrain ups the prices for goods and services.

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7. Urban Honolulu, Hawaii

MHI: $80,513 Cityscape of Honolulu city, Waikiki beach, and Tantalus mountain. Image credit Hulabear via Shutterstock Another unique location to the rest of the nation places seventh. Urban Honolulu's median household earns $80,513 a year, and 10.1% of households earn $200,000 or more. With tourism to back them up, the hard-working population boasts the nation's lowest unemployment rate of 1.9%. The wealthiest of Hawaii’s two metro areas, Urban Honolulu also faces the highest cost of living out of all major metro areas in the US.

　　Everything costs 25% more than the nationwide average, with tourists and locals alike having to cough up expensive goods and services, including living arrangements. The housing costs are through the roof, with a typical metro area home selling for $658,900. Despite paying over threefold that of a typical American home, the locals live in paradise with high-paying jobs available.

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8. Oxnard, Thousand Oaks, and Ventura, California

MHI: $80,135 Aerial view of Ventura 101 freeway and Thousand Oaks near Los Angeles, California. Image credit trekandshoot via Shutterstock After a large gap between first and second places on this list, the Golden State secures the eighth with an $80,135 median household income. It is also one of only eight US metro areas where the majority of households earn at least $80,000 a year. The high wages allow them to pay 16% higher than the nationwide average for goods and services.

　　Housing prices bite with a typical Oxnard-Thousand Oaks-Ventura area home valued at $561,400, for over double the value of the median $205,000 home across the nation. Oxnard-Thousand Oaks-Ventura has a 3.6% jobless rate, 11.4% earning $200,000 or more, and 33.6% of adults with a bachelor’s degree or higher.

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9. Seattle, Tacoma, and Bellevue, Washington

MHI: $78,612 Seattle, Washington, USA downtown city skyline at dusk. Image credit Sean Pavone via Shutterstock Seattle and satellite cities comprise one of the many wealthy metro areas along the west coast. It secures ninth place with a median household income of $78,612, and 11.0% making 200,000 or more. Although a runner-up to another California area, it boasts a whopping 10% higher rate of graduates with 42% of adults holding at least a bachelor's.

　　Seattle metro area is home to a prominent tech industry that employs many and pays well, with an unemployment rate of 3.9%. It hosts the largest operations of some of the nation's biggest tech companies, with major employers like Amazon, Microsoft, Facebook, and Google.

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10. California, and Lexington Park, Maryland

MHI: $78,195 Sunset in Lexington Park. Image credit George Raymond Gibbs via Shutterstock Although it may sound like another Cali metro for the fourth time on this list, the wealthiest metro area, located in Maryland, secures the tenth spot. It completes the list with a respectable $78,195 median household income, slightly under the statewide median income of $78,945, but well above the national $57,617.

　　Its low 26.1% rate of graduates is below both the 31.3% national college attainment rate and 39.3% statewide and is unusual for a wealthy metro area in the US. California-Lexington Park area has a higher, 4.5% jobless rate, along with a low 6.6% of households making $200,000 or more. 

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　　California is one of the richest states with many prospering cities and metropolitan areas. Most of these areas have prominent tech and professional fields, and high-paying industries like finance, legal, and management. Hawaii residents have higher earnings thanks to tourism, and Alaska has special considerations as well as job prospects in research and science. Housing within these areas is over the national median of $205,000, including typical homes worth over half a million dollars.

　　A healthy job market is important for the metro area to thrive economically. The types of jobs available often determine income levels. Education also has a bearing impact on income, with college graduates often earning more.

　　

Rank	State	City	Median Household Income
1	California	San Jose	$110,040
2	California	San Francisco	$96,677
3	Virginia	Alexandria	$95,843
4	Connecticut	Bridgeport and Stamford	$90,123
5	Massachusetts	Boston	$82,380
6	Alaska	Anchorage	$82,203
7	Hawaii	Urban Honolulu	$80,513
8	California	Oxnard, Thousand Oaks, and Ventura	$80,135
9	Washington	Seattle, Tacoma, Bellevue	$78,612
10	Maryland	California and Lexington Park	$78,195
11	New Jersey	Trenton	$77,650
12	California	Santa Cruz	$77,613
13	Alaska	Fairbanks	$77,328
14	Maryland	Baltimore	$76,788
15	New Jersey	Manchester	$76,254
16	California	Napa	$75,077
17	Colorado	Boulder	$74,615
18	California	Santa Rosa	$73,929
19	California	Vallejo and Fairfield	$73,900
20	Minnesota	Minneapolis	$73,231
21	Connecticut	Hartford	$72,559
22	Hawaii	Kahului	$72,268
23	Colorado	Denver	$71,926
24	New York	New York City	$71,897
25	North Carolina	Raleigh	$71,685