Beautiful weather, a diverse population and a reputation as the hub of technology, San Jose is a great place to live. It’s also home to the nation’s most prosperous.
Not only is San Jose’s metropolitan area still on Forbes’ safest cities list at No. 7, despite a recent surge in violent crime, but the L.A. Times states in an article that San Jose is also the richest city in the country, according to the U.S. Census Bureau. The report ranks cities by median household income, and a close neighbor to San Jose is not far behind in the rankings. San Francisco came in at No. 2.
Thanks to Silicon Valley being home to Fortune 500 companies such as Apple, Google and Yahoo!, the median household income here is $76,593, far higher than the national average of $50,502. Other notable statistics show that San Jose is lower than the national average of people without health insurance (13.9 percent versus 15.1 percent nationally). San Jose residents also possess more bachelor’s degrees (36.6 percent versus less than 30 percent nationally.)
The American Dream, held dear by many immigrants, could be a factor. More than 39 percent of the San Jose population was born outside of the US, whereas only 13 percent of the country’s population was foreign-born.
San Francisco closely followed San Jose at the No. 2 spot with a median household income of $69, 894. San Diego came in fourth at $60,797 and Los Angeles, just missing the top 10, was listed at $46,148.
This is all being reported when statewide poverty increased, reaching 16.6 percent last year. More than 330,000 Californians fell below the poverty line, which is defined by a family of four making less than $22,811.