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Old 09-23-2016, 04:26 PM
 
Location: Upper West Side, Manhattan, NYC
15,331 posts, read 23,838,747 times
Reputation: 7419

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Thought this would be interesting to see. All of the cities with an estimated population of at least 500K people as of 2015 estimates - these are the percent changes in $200K+ households from 2014 to 2015:

* denotes number of households in 2014 was under 2500 total for the category
** denoates number of households in 2014 was only between 2500 and 5000 for the category
*** denotes number of households in 2014 between 5000 and 10,000 for the category

1. Fresno (**): +52.9%
2. Detroit (*): +41.5%
3. Nashville (***): +38.4%
4. San Francisco: +28.1%
5. Seattle: +26.5%
6. Jacksonville (***): +25.9%
7. Tucson (**): +24.4%
8. Austin: +21.4%
9. San Jose: +20.8%
10. Chicago: +19.6%
11. Fort Worth: +19%
12: Baltimore (***): +17.5%
13. Philadelphia: +15.1%
14. Dallas: +14.1%
15. Columbus (***): +13.3%
16. Portland: +13.1%
17. Washington DC: +10.7%
18. Boston: +9.3%
19. NYC: +8.9%
20. Phoenix: +8.9%
21. Las Vegas (***): +7.3%
22. Houston: +6.3%
23. Los Angeles: +5.2%
24. Memphis (***): +4.3%
25. Denver: +4.2%
26. San Diego: +4.2%
27. San Antonio: +1.7%
28. Charlotte: +1.5%
29. Louisville (***): -0.8%
30. Oklahoma City: -1.6%
31. Indianapolis (***): -2.7%
32. Milwaukee (**): -12.3%
33. Albuquerque (***): -23.9%
34. El Paso (***): -25.4%

Of the top 10 most populous cities, San Jose had the highest percent change followed fairly closely by Chicago, and then Philadelphia. Detroit had a high percent change, but it had under 2000 households to start with.


By raw number of households change:

1. New York: +22,069 households
2. San Francisco: +15,964
3. Chicago: +11,618
4. San Jose: +9052
5. Seattle: +8461
6. Austin: +5458
7. Los Angeles: +5076
8. Dallas: +4252
9. DC: +3989
10. Nashville: +3595
11. Houston: +3455
12. Philadelphia: +2485
13. Jacksonville: +2285
14. Portland: +2081
15. Boston: +2065
16. Fort Worth: +2023
17. Phoenix: +2023
18. San Diego: +1812
19. Fresno: +1802
20. Baltimore: +1500
21. Columbus: +947
22. Denver: +845
23. Detroit: +729
24. Las Vegas: +549
25. Tucson: +514
26. Charlotte: +326
27. Memphis: +283
28. San Antonio: +278
29. Louisville: -69
30. Oklahoma City: -167
31. Indianapolis: -236
32. Milwaukee: -493
33. El Paso: -1316
34. Albuquerque: -1952

NYC was #1 here, but LA was #7, and Chicago was #3. Houston at #11 - very interesting. Only NYC, San Francisco, and Chicago gained more than 10,000 households each in this category. San Jose not too far behind that clip.


Other notable cities under 500K people:
* Minneapolis | +30.9% | +2794 households
* Atlanta | +4.7% | +767 households
* New Orleans | -4.2% | -340 households
* Miami | -7.6% | -513 households
* Cleveland | -7.5% | -122 households
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Old 09-23-2016, 04:27 PM
 
6,851 posts, read 10,923,277 times
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Thanks for the compilation, marothisu.
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Old 09-23-2016, 04:55 PM
 
345 posts, read 528,520 times
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Why is Charlotte always lagging behind in these polls. Nashville is especially booming, and so is Austin, but compilation like these when it comes to construction and growth, charlotte is always in the back or not present. it surprises me because of all the new stuff happening in Charlotte.
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Old 09-23-2016, 05:00 PM
 
Location: Upper West Side, Manhattan, NYC
15,331 posts, read 23,838,747 times
Reputation: 7419
Quote:
Originally Posted by funtraveler1 View Post
Why is Charlotte always lagging behind in these polls. Nashville is especially booming, and so is Austin, but compilation like these when it comes to construction and growth, charlotte is always in the back or not present. it surprises me because of all the new stuff happening in Charlotte.
New stuff doesn't equate to wealth necessarily (though new wealth might equate to new things happening - maybe - that's another story). It could be a sign of improving economic prosperity. You might be making as a household $80K per year, but depending on the COL in your city, it might be enough to build a long term new home or might tip off some developers to build new things.

Remember, this list deals with households at $200K+ per year - which isn't exactly the most common thing in most cities. I'm putting together data for $100K+ so things may look different there.
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Old 09-24-2016, 09:03 AM
 
Location: Marshall-Shadeland, Pittsburgh, PA
32,613 posts, read 77,432,847 times
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I know Pittsburgh's population is microscopic due to small city limit constraints vs. the nearly 2.5 million people in its metro, but could you please also do Pittsburgh? I'm curious with the boom in Google, Apple, and UBER jobs here if we've had a corresponding boom in high-earning households.
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Old 09-24-2016, 10:27 AM
 
Location: Boston Metrowest (via the Philly area)
7,264 posts, read 10,544,071 times
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Interesting numbers--thanks for posting.

What is particluarly intersting to consider is that larger cities like Chicago, Philadelphia and Baltimore are all either "slow-growth" or "still-slightly-negative growth" cities but are matching the growth rates of this high-income demographic compared to much faster-growing cities overall.

I think for all three (and to a much lesser extent, Detroit, whose revitalization is still very nascent) we're seeing very disproportionate growth in the affluent, urban-dweller set of folks that find them to be attractive classic urban living alternatives to the exceedingly cost-prohibitive New York, SF, DC and Boston. A solid foundation of white-collar industries is clearly helping all three, as well.
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Old 09-24-2016, 11:40 AM
 
Location: Upper West Side, Manhattan, NYC
15,331 posts, read 23,838,747 times
Reputation: 7419
Quote:
Originally Posted by Duderino View Post
Interesting numbers--thanks for posting.

What is particluarly intersting to consider is that larger cities like Chicago, Philadelphia and Baltimore are all either "slow-growth" or "still-slightly-negative growth" cities but are matching the growth rates of this high-income demographic compared to much faster-growing cities overall.


I can only speak for Chicago on this but Chicago is a tale of two cities. If you are really familiar with the current state of Chicago, it's not surprising. If all you know about it is "stagnant overall population growth" then I guess it's surprising.

There's actually a large section of town (downtown, north side, part west and north west side) which is growing pretty moderately at about the rate of NYC or LA - maybe about 800,000 people total - I'd have to look at the overall numbers again but have them somewhere on this computer. Then there's another area of town, mostly on the south side, which is losing people (funny enough still not as bad as the city of Detroit, but not terribly far behind). Put those together, and you have very small growth if you just look at ONLY the city level, as the growth areas are greater than the loss areas but not by a ton.

If you were to come as a normal tourist and visit downtown and a handful of other neighborhoods within a few miles of downtown, you'd see a decent amount of construction and think "Wait, I thought there was stagnant growth." There are currently nearly 50 high rises U/C in the city with some newly completed - most of them are residential and the vast majority are downtown (though there's a handful in some non downtown areas). There have been buildings going up especially downtown that have either only 1 unit or 2 units per floor and start in the $2-$3M range, and have had no trouble being bought up. Wanda Vista just started construction the other day. That is a 1100 some foot tower being built by the largest developer from China, run by the richest man in Asia. There will be over 400 units starting at $1M a piece. There were over 100 units under contract before they even started drilling as of July (http://chicago.curbed.com/2016/7/14/...wer-units-sold)

The area has a lot of corporate HQ - the most after NYC (SF is a close 3rd) and there's been a lot of companies who have been moving from the suburbs to the city. McDonald's for example announced a few months ago it's building a new HQ in the city (just tore down Oprah's old studios) or just moving in general. Duracell announced last week for example that it's moving 60 executives including the CEO to Chicago from elsewhere. There are also a lot of people in Chicago who work with high frequency algorithm trading considering the CBOE is there (largest options market in the US at least). A lot of these people are pretty well off - and the industry in Chicago for that has grown. I have a friend who used to work in that, and one of the buildings I just mentioned above was bought up at least half by young multi millionaire traders.

While the current unemployment percentage is greater than that of NYC, it is still below June and July 2007 levels and in the range of what was seen in 1999 and 2000 (Local Area Unemployment Statistics Home Page). The current number of employed persons in the city is nearly identical to June 2000 (when the city had an official population of about 200K more than it did in 2010) and is about as high as it's been as far back as 1990 (BLS doesn't have data available before that for city level).

Last edited by marothisu; 09-24-2016 at 11:50 AM..
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