Richest Cities in the US: The United States of America is surely one of the most sought after country to live in. US is leaving behind every other countries in terms of education, employment, standard of living and quality of living. Not only that it is one of the most ideal country to live in but also one of the most beautiful country to live in too.
US is also one of the strongest and wealthiest economy in the world today. Standing at such a place where no other country has reached it, the US has set goals higher for everyone else around the globe. And in this article we are going to talk about some of the richest cities in the US.
These are the cities having one of the most amazing lifestyle and median income of the people. Not only that quality of living is higher here, but also other aspects like education and employment is also quite good than any other places.
The GDP acquired from these places is way higher than other parts of the United States of America. And that is the reason people called them the richest cities in the US.
They are also the major locations of various industries and therefore helps a lot in the overall development. Each of the richest cities in the US listed have different areas of growth through which they contribute to the nationwide economy.
Top 10 Richest Cities in the US
Here is a list of the richest cities in the US and also their description that why they are so rich in every aspect. The list has been conducted on the basis of the entire metropolitan area and therefore when a city has been listed then its entire metropolitan area is counted in the statistics.
10). Atlanta, Georgia
Atlanta Metropolitan area is among those only richest cities in the US which hails from the Deep South area of the nation. This area has grown a lot in the recent time and therefore managed to grab the 10th spot in this list. This is one of the most contributing economy in US.
According to the reports in 2014, the Atlanta Metropolitan area contributes a whopping value of $324,000 million. This area is constituted by Atlanta, Sandy, springs and Roswell and belongs to the state of Georgia. Also, this is the most populous area of the Georgia state.
However, things were not same in this area from 2009 to 2011 but things took a massive turn from year 2012. Since then, this metro area has not ceased to amaze with its revenue income.
The area is known to be the main epicenter of transportation to the Southeastern part of US. The major industries in Atlanta is Delta Airlines, Coca-Cola, Turner Broadcasting and Home Depot.
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9). Boston, Massachusetts
The Boston Metropolitan Area is constituted by different cities like Boston, Cambridge and Newton. This area constitutes a value of $382,459 million to the total GDP of the entire nation as claimed by a report of 2014. Boston is also the largest city of the Massachusetts.
Among all the richest cities in the US, Boston metropolitan area incurred a great loss in 2009 even after being a strong GDP in 2008. Even after incurring a loss of $2 million USD, it still came out as one of the strongest economy in US.
Boston and the parts of its metropolitan areas have given a great boost in the GDP which is 1.6% increase in the annual growth rate. Among all the richest cities in the US, Boston stands on 9th spot in terms of population in US which depends upon the GDP. Its total population is 4.6 million residents.
The unbelievable development and growth that Boston metropolitan area has given over the time is really commendable.
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8). Philadelphia, Pennsylvania
Philadelphia metropolitan area is not only one of the richest cities in the US but also stands on the 5th largest area in terms of total population count in US. The total metropolitan area of Philadelphia is given by cities like Camden and Wilmington including Philadelphia itself.
According to a report of year 2014, Philadelphia constituted an amount of $391,118 million US Dollars in the GDP of the entire nation of US. This statistics represents the fast growth this area has gained.
This metropolitan area has not suffered any setbacks or losses in the last 14-15 years at all except the period of 2009 when the entire nation suffered a huge loss. In terms of total area acquired, Philadelphia metropolitan area is the 7th largest in US.
The Media Market of Philadelphia ranks on 4th spot and there are some good educational institutes in this area too. However, it is still behind the 7th spot winner San Francisco area.
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7). San Francisco, California
The 7th spot of our list of richest cities in the US is acquired by San Francisco metropolitan area which is leaving behind three other major metropolitan areas of the US. The contribution done by this area in the GDP of the country as per 2014 is $411,969 million US Dollars.
The other cities covered in this metropolitan area is Oakland and Hayward including San Francisco. The year of 2009 when the entire US market incurred a major loss, San Francisco metropolitan area too suffered a huge set back of around $20 million USD.
But this is one of those richest cities in the US which did not look back after then. It kept on growing afterwards and therefore ended up becoming one of the largest economy in the US.
The major sources which contributed a lot in the GDP of this metropolitan area is Science, technology and other professional services. In fact 6.7% of the entire GDP of this area comes from the Bay area.
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6). Washington, D.C.
Washington is a sure shot city to be included in the list of richest cities in the US. And why it would not be, as it is one of the most crucial area of the entire US. Be it some high profile celebrities, or the president himself, Washington always remains in the limelight.
This entire area is constituted by cities like Arlington, Alexandria and Washington itself. Not only that it is one of the most talked about area, but also one of the most well educated area too.
The total GDP incurred from this area is $471,584 million US Dollars. However, this area is yet far behind in terms of economy from the 1st position.
Washington is also the capital of the United States. The total population of this metropolitan area is 6,097,684 which makes it the 6th largest populous area of the country. The area is home to federal agencies like Military and Department of Homeland Security etc.
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5). Dallas, Texas
Acquiring the 5th spot in the list of richest cities in the US is the Dallas metropolitan area of US. Dallas is one of those areas which can considered to be the fastest growing economies around the country. The total metropolitan area is constituted by cities like Fort Worth, Arlington including Dallas itself and comes under the state of Texas.
Dallas is the 5th largest contributor in the GDP of the country giving a value of $504,358 million US Dollars. This metropolitan area is basically known as the Management and Budget hub of the nation.
The major source of this much GDP is the fast growing population of this metropolitan area. It has gained 146,530 new residents in just a period of 1 year. This is the highest in any other richest cities in the US.
This is the largest area in the South and the 4th largest area in the entire US. The financial services contributes the 18.4% of the entire GDP.
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4). Houston, Texas
Another metropolitan area included from the state of Texas is Houston Metropolitan area. The other cities included in this area are The Woodlands, Sugar Land and Houston itself. The value of GDP incurred by this metropolitan area is $524,397 million US Dollars.
The reason of including Houston in the richest cities in the US is its fastest growing economy over the decade. You would not believe it but Houston has increased its GDP by 119% from the year 2001 to 2014. However, it also have to face some serious loss of $40 million in 2009.
This is popularly known as the Greater Houston area and it is the 5th largest metropolitan area in the US. According to the last census reports, the population of this area is 6,490,180.
This area included the 4 out of 10 wealthiest communities of Texas and hence count as one of the most important part of Texas’s economy. Also, it ranks as first in the employment growth rate in US.
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3). Chicago, Illinois
The third spot is acquired by the Chicago metropolitan area in this list of richest cities in the US. This is also the 3rd largest area in the US in terms of economy. The GDP yield by this metropolitan area is $610,552 million US Dollars. The other cities contributing in this area are Naperville and Elgin.
The total population estimated of this area is 9,472,676 and its population density is ranked 3rd amongst the US. This area is famous for being one of the most diverse economies in the world.
The metropolitan area of Chicago alone holds the headquarters of more than 400 major corporate companies. The area suffered a population because of the factors like political issues and taxes.
The major companies in Chicago are Discover Financial Services, McDonald’s, and Boeing, Motorola, Aon, Walgreens and many others. These industries contribute together to form it one of the richest cities in the US. The area is said to be the epicenter of financial center in the US.
2). Los Angeles, California
The metropolitan area of Los Angeles includes cities like Long Beach and Anaheim and comes under the state of California. It stands on the 2nd rank of our list of richest cities in the US. This entire region contributes a value of $866,745 million of US Dollar of GDP of the nation.
The GDP of this area is said to be equal to the GDP of the nation of Turkey. This area keeps on facing an increase of GDP every year by about 2.3%. The major source of earnings in this area is leasing, rents and other real estate operations.
Los Angeles is the prime locations to live for various celebrities and this is the reason of its high economy. Los Angeles metropolitan area is the 2nd largest in the US and 18th largest in the entire world.
It is also the most populous area of the entire California having a population of 9,819,000 according to 2010.
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1). New York City
Last but not the least and the winner of our list of richest cities in the US is the New York City. This is hands down the most important area of the US in terms of economy. The total GDP yield by this metropolitan area is $1,558,518 million US Dollar.
In fact the GDP of this area is nearly twice of that of Los Angeles and way more than the entire Australia and therefore it has acquired the first position from a really long time.
The major sources of income is different restaurants and metro areas. In fact, according to some reports if you would start eating in different restaurants of New York then you cannot complete them all even in two years.
New York also have the largest foreign born population of any metropolitan region in the world. This much population makes it on the first position in the richest cities in the US.
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These metropolitan areas contributes a lot in the total GDP of the entire United States. According to one of the reports by US Department of Commerce Bureau of Economic Analysis, the 20 major metropolitan Areas of the US contributes 52% of the total GDP of the nation.
Among all the richest cities in the US, I have mentioned only top 10 of them as they are the prime among them. These sectors gives a boost to the professional and financial growth of the country.