Avondale ranked among top 10 cities for highest increase in median household income
Nov 30, 2024, 2:00 PM | Updated: Dec 2, 2024, 1:03 pm
The city of Avondale came in at seventh place for the highest year-to-year increase in median income in 2023. (Pixabay Photo)
(Pixabay Photo)
PHOENIX — The city of Avondale placed seventh for the highest year-to-year increase in median income in 2023, according to rankings by SmartAsset.
The average household income in Avondale in 2022 was approximately $66,800. In 2023, it was $86,400, a nearly 30% increase.
SmartAsset ranked 636 national cities based on the increase in median household income over a year, according to the latest data from the U.S. Census Bureau.
The Bureau of Labor Statistics looked at the numbers for 12 months, from the end of 2022 to the end of 2023 and calculated an inflation rate of 3.35%. On the other hand, household incomes sat at a median increase of 4.22% but in certain cities the median income increase was much higher.
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Inflation causes the prices of goods, services and resources to increase and with it the cost of living becomes much less affordable.
Key findings of the rankings
The city of Pine Hills, Florida saw the highest increase in median income. Its median income rose by about 65%, going from $43,452 in 2022 to $71,735 in 2023.
A portion of household incomes over $100,000 per year went from about 15% to 27%, which added to the overall increase.
Four other cities saw an increase of more than 30%. The city of Apple Valley, California saw an increase of 37.3% in median household income, placing it close to the U.S. median income of $80,600 in 2023 at $77,159. Kissimmee, Florida ended 2023 with a less than-average median income at $59,142 after about a 33% increase. Davis, Florida incomes increased by around 33%, placing the median income at $89,386. Coming in at fifth place, Tulare, California households had a median income of $77,286 coming in at close to a 32% increase.
Closer look at Avondale household income numbers
- 2022-2023 change in median income at around 30%
- Households at $100,000 or more, 2023: 43%
- Households at $100,000 or more, 2022: 34%
- Households at $200,000 or more, 2023: 10%
- Households at $200,000 or more, 2022: 5%
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