Everyone knows wealth is concentrating. This is where the rich are going.
U.S. unemployment is near a 50-year low, economic growth is brisk and the stock market – despite a disappointing 2018 – has paid generous returns since the financial crisis of a decade ago.
But not for everyone. The chasm between rich and poor hasn’t been this wide since data collection began in the 1960s. Workers experience starkly different versions of America depending on which city or neighborhood they live in. One way to measure the economic fortunes of a place is by the concentration of households earning $200,000 or more, the highest threshold in the Census Bureau’s American Community Survey.
Nationally, 6.9% of American households bring in that much. What follows are the areas (known to the Census Bureau as tracts) that have shown the biggest increases in concentration of $200,000-and-up households since 2000, according to calculations by consulting firm Webster Pacific. It used data released on Dec. 6 and adjusted for inflation. (The ranking excludes recently created tracts, those defined as tracts of significant change and any tract with fewer than 100 households in either 2000 or 2017.)