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Yes really. Hartford is poverty-stricken ghetto, and even some of its suburbs are average (or below average: East Hartford, New Britain) but it's a mero the size of NOLA, and Hartford-Springfield is over 2M people. The western suburbs of Hartford are wealthy and immaculate as are a few to the South and North. There are very good schools in the Metro Area as well not the least of which being Trinty College, Wesleyan, University of St.. Joseph (#176 Nationally) and UConn-Hartford.
FIRE is Hartford's game Financial, Insurance, Real Estate (and high-end Manufacturing)
Until 2015 CT was always wealthier than MA. We definitely thought of it as "Connecticash" when I was in HS/College
I dont want this post to be in the last page.. but I echo this.
Miami is ridiculously low with less 100k jobs than Detroit or Phoenix.
In 2019 the Miami metro's per capita personal income was more than the metros of Atlanta, Dallas and Houston at $60,000. It's growing at around the same rate too. The Los Angeles and Philadelphia metros were only at $66,000. Chicago was $63,000 and Austin $61,000. Not to mention Florida doesn't even have a state income tax.
If you were able to somehow factor in all the people down there that have massive bank accounts but little income the picture would look a bit different. Then you have all the wealthy snowbirds that don't even get factored into any of the Miami metro's statistics. Last but not least you have all the wealthy tourists that spend crazy money down there and are also not factored into any of these statistics. Plus the retirees drag the numbers down anyways since they don't work. South Florida also has a huge underground economy and also has a massive amount of hidden wealth.
The Miami metro is actually the only large metro in the entire U.S. that gets super shorted in many of these statistics since it's in such a unique situation. Anyone who has spent any significant time down there knows how deep the money runs.
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
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Good points. I would also add Miami has the highest percentage of self employed of any major US city—in many cases not all income by individuals or these entities is reported (unlike that of W-2 wage slave jobs, which is).
Clearly the abundance of wealth (reported or not), not lack thereof, is why Miami attracts and supports all the high end retailers, restaurants, and trophy real estate that it does. That being said, a number of other cities offer more corporate, career and wealth building opportunities than Miami for those wishing to work for someone else—though we do have medicine, law, finance, etc jobs here and Miami’s “reported” income figures and jobs will also rise going forward should remote work prove not to be a transitory thing and more firms continue opening offices here ($461B private equity firm Apollo the latest) or relocate altogether.
Quote:
Originally Posted by popka
In 2019 the Miami metro's per capita personal income was more than the metros of Atlanta, Dallas and Houston at $60,000. It's growing at around the same rate too. The Los Angeles and Philadelphia metros were only at $66,000. Chicago was $63,000 and Austin $61,000. Not to mention Florida doesn't even have a state income tax.
If you were able to somehow factor in all the people down there that have massive bank accounts but little income the picture would look a bit different. Then you have all the wealthy snowbirds that don't even get factored into any of the Miami metro's statistics. Last but not least you have all the wealthy tourists that spend crazy money down there and are also not factored into any of these statistics. Plus the retirees drag the numbers down anyways since they don't work. South Florida also has a huge underground economy and also has a massive amount of hidden wealth.
The Miami metro is actually the only large metro in the entire U.S. that gets super shorted in many of these statistics since it's in such a unique situation. Anyone who has spent any significant time down there knows how deep the money runs.
Sacramento is a surprising one. I mean there are a lot of government/health care jobs, but I can't help but wonder how many of these jobs are from people telecommuting to bay area jobs.
Good points. I would also add Miami has the highest percentage of self employed of any major US city—in many cases not all income by individuals or these entities is reported (unlike that of W-2 wage slave jobs, which is).
Clearly the abundance of wealth (reported or not), not lack thereof, is why Miami attracts and supports all the high end retailers, restaurants, and trophy real estate that it does. That being said, a number of other cities offer more corporate, career and wealth building opportunities than Miami for those wishing to work for someone else—though we do have medicine, law, finance, etc jobs here and Miami’s “reported” income figures and jobs will also rise going forward should remote work prove not to be a transitory thing and more firms continue opening offices here ($461B private equity firm Apollo the latest) or relocate altogether.
Your article actually says that not just Miami proper but the entire Miami metro had the highest percentage of self employed of out the large metro areas. If you look at the rankings at the bottom of my article it's actually almost doubling the percentage of a bunch of the largest metros. Florida as a whole has the highest percentage of self employed out of the larger states too.
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
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Yeah, and many underreport their earnings—which is why I’ve argued for years (and you also) that median income (reported income) by itself is a poor way of measuring Miami’s (city, county, MSA) overall wealth. Median income, alone, understates it. I’m always looking for a way to refine and simplify this statement so more understand that though there are those insistent upon looking only at median income level (or educational attainment) to try and portray Miami as Tijuana or Laredo East—which it clearly isn’t.
Quote:
Originally Posted by popka
Your article actually says that not just Miami proper but the entire Miami metro had the highest percentage of self employed of out the large metro areas. If you look at the rankings at the bottom of my article it's actually almost doubling the percentage of a bunch of the largest metros. Florida as a whole has the highest percentage of self employed out of the larger states too.
Miami is ridiculously low with less 100k jobs than Detroit or Phoenix.
DFW has been so robust the last few years so im surprised that Atlanta and Houston are higher. Atlanta has the highest percentage and Houston has the highest raw #s.
A function of the DFW marketing machine no doubt. Houston has always had more high-paying jobs (as well as more low-paying ones). DFW has more middle income jobs and that's been the case as long as I can remember.
Yeah man, I looked into Pittsburgh and towns around there, jobs aren’t good at all but houses for most part very cheap I think 1/4 part is pretty accurate….. plus you can live in a small town and commute to work in Pittsburgh that’s a big advantage. Anything in southern Cali it’s just gonna be miserable traffic…..
Yep. I live in Pittsburgh. Our all-in housing payment (mortgage principal, interest, private mortgage insurance, homeowners' insurance) is $401/month for a 2-BR house in the city---not far from Downtown. We earn ~$65,000/year combined. We live very comfortably here.
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