August 29, 2007

San Jose – Richest City in America – We’re #1

San Jose Mercury News – San Jose tops list of richest U.S. cities
—Northern California’s largest city is also the wealthiest urban center in the nation, with a median household income of $74,000.

Two other California cities, San Francisco and San Diego, finished in the top three as well, according to newly released data by the U.S. Census Bureau’s Current Population Survey. Seattle and Las Vegas rounded out the top five richest cities of 500,000 people or more.

Santa Clara County, epicenter of Silicon Valley and home to some of the world’s most successful technology companies, was California’s second richest. Santa Clara County’s median household income last year was $80,838, while Marin County, just north of San Francisco, topped the list at $81,761.

Woot! Go Bay Area!

We’re #1!

We’re #1!

Take that New York. Who needs Wall Street! Peh!

I predict the median price for houses will be $1 million by the end of 2008, and condos at $625k.

And that’s on the conservative side. Personally, I can easily see the median prices for houses will be $1.25 million  and condos being $750k.

How can it be otherwise. Look at how hot Web 2.0 is. Look at VMWare. Look at FaceBook. Google is still going strong.

Better buy a place this year – because next year we’re going to set all new records.

You read it here first.

Comments (3) -- Posted by: burbed @ 12:43 pm

3 Responses to “San Jose – Richest City in America – We’re #1”

  1. Reagan Says:

    For cities with population of 250K or more..

    “Among places with 250,000 or more residents, the affluent Dallas suburb of Plano, Texas, boasts the highest median income: $77,038. San Jose came in second at $73,804 and San Francisco was third with $65,497.”

    source: http://money.cnn.com/2007/08/28/real_estate/wealthiest_states/index.htm

    -Reagan Boone

  2. DensityDuck Says:

    Frankly, I think that part of the reason San Jose always shows up in these “biggest city” things is that they consider the entire “San Jose” mailing address to be part of the city. Yeah, I’m pretty sure that if LA included San Diego and the entirety of Orange County they’d be pretty darn big, too.

  3. Jason Warden Says:

    Using “median income” to boast of richest city doesn’t quite cut it. Median income simply means half above and half below. Theoretically, San Jose could have a median income of $74,000 without a single person in the city making over $80,000. Average income would make a more accurate description of the Richest City. Someday I would like to see a list of cities with the most millionaires and billionaires.


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