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Incomes Expanding in the American South - 10/6/16

The Census Bureau recently released results of its twenty fifteen American Community Survey.  Among other things, the survey allows for comparisons of incomes city by city.  These data indicate that incomes are presently expanding most rapidly in the American south. 

Among America’s fifty largest metropolitan areas, large income gains were experienced in Nashville, Birmingham, Alabama, Atlanta, Memphis, Orlando, Austin and Raleigh.  Seven of the nation’s fifteen cities with income expanding faster than five percent are in the South.  Non-southern cities experiencing significant income growth include San Francisco, Kansas City, Missouri, and Portland, Oregon. 

While income growth was slower in the Washington and Baltimore metropolitan areas, both remain among the nation’s highest income communities.  Median household income in the Washington metropolitan area climbed above ninety three thousand dollars last year.  Only San Jose, California, home to Silicon Valley, is associated with higher incomes. 

Median household income in the Baltimore metropolitan area stood at seventy two thousand five hundred dollars last year, higher than the corresponding statistic in San Diego, Atlanta, Chicago and New York.  

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.