Close Close

Industry Spotlight > Women in Wealth

The 20 richest cities in America

Your article was successfully shared with the contacts you provided.

While some people have built their cities on rock and roll, others are expanding on pure gold, or so it would seem according to a recent Bloomberg article that lists the 20 richest cities in the U.S.

Lists like this are fun to read, sure. But if you’re asking yourself, “How do I benefit from reading this?” remember: There are golden opportunities everywhere, especially where potential high-net-worth clients live and work.

The list, which is based on Bloomberg’s analysis from the U.S. Bureau of Economic Analysis data for the 100 largest metro areas, reveals that the wealth in the U.S. is being produced in cities that house the largest tech companies in the nation. By examining the gross metropolitan product (GMP) per capita for 2014, Bloomberg uncovered that a surge in tech centers since the 2008 recession means that San Jose is now producing about $11,000 more per person than Bridgeport, Conn. (the suburb for New York bankers that, until 2011, was the richest city in the U.S.).

Another interesting highlight is that these cities also have the densest concentrations of educated workers, a trend that falls in closely with how the economy of the region fares. As part of their investigation, Bloomberg interviewed Harvard University professor Edward Glaeser, who conducts research on what causes cities to grow. Glaeser noted that there is an “ongoing trend towards skilled places being far more compensated than non-skilled places.”

For the specifics on how Bloomberg whittled down their results, you can read their full article. Now, without further ado, here’s the list:

san diego

20. San Diego, California

2014 GMP per resident: $58,540



19. Philadelphia, Pennsylvania

2014 GMP per resident: $59,240

salt lake city

18. Salt Lake City, Utah

2014 GMP per resident: $59,558

los angeles

17. Los Angeles, California

2014 GMP per resident: $60,148


16. Denver, Colorado

2014 GMP per resident: $61,903


15. Minneapolis, Minnesota

2014 GMP per resident: $62,054

madison wi

14. Madison, Wisconsin

2014 GMP per resident: $63,910



13. Hartford, Connecticut

2014 GMP per resident: $64,946


12. Portland, Oregon

2014 GMP per resident: $64,991



11. Dallas, Texas

2014 GMP per resident: $66,168

des moines

10. Des Moines, Iowa

2014 GMP per resident: $67,256



9. Houston, Texas

2014 GMP per resident: $70,097


8. New York, New York

2014 GMP per resident: $70,830



7. Washington, D.C.

2014 GMP per resident: $72,191


6. Durham, North Carolina

2014 GMP per resident: $73,523



5. Boston, Massachusetts

2014 GMP per resident: $74,746


4. Seattle, Washington

2014 GMP per resident: $75,874


san francisco

3. San Francisco, California

2014 GMP per resident: $80,643

connecticut sign

2. Bridgeport, Connecticut

2014 GMP per resident: $94,349

san jose

1. San Jose, California

2014 GMP per resident: $105,482

See also:

How to crach the high-net-worth market

8 tips for working with high-net-worth clients

High-net-worth investors prioritize their health and building their wealth