The Best and Worst Cities to Get Rich in 

 April 15, 2017

By  Craig Beck

Cities to get rich in

 

Where do you go if you want to get rich?

If you’re smart, talented, hard-working and lucky, you can get rich almost anywhere.

But some places really are better than others.

Sadly, the best cities to get rich in probably aren’t the best for a vacation.

On the other hand, once you’re rich, you can vacation wherever you want to.

All you need to get started is to know which are the best cities to get rich in, which are the worst, and why.

Picking the Best and Avoiding the Worst

This is a matter of perspective, not science. There aren’t any absolutes here.

Google any list of best and worst cities and you’ll find lots of pages with lots of variation. Not only in the cities, but in the criteria used to rank them.

Those lists might focus on things like education, unemployment, the percentage of the population under age 30, industry or cultural diversity.

Even air, water, and education quality.

This list focuses strictly on building wealth.

Bankrate assembled statistics from other sources including the U.S. Census Bureau. Then they looked at factors like how easy it is for residents to own homes.

They calculated savable income as the difference between what people earn and what they could spend.

They calculated debt burden as the non-mortgage debt per person per household.

That approach accounts for some surprises.

For example, Detroit is on this list because its low property values allow a high homeownership rate.

(Detroit is probably on the list for another reason, too. The people fueling its renaissance have been down for so long they’ve lost their fear of loss.)

And this list puts San Francisco at the top.

Another list ranks San Francisco dead last because of its high cost of living.

In fact, a more accurate title for this post might be, “Really Good and Really Bad Cities to Get Rich In.”

The Ten Worst Cities to Get Rich In

Chicago

Savable income: $11,966

Homeownership rate: 62.7%

Debt burden: $27,594

New York

Savable income: $11,981

Homeownership rate: 49.5%

Debt burden: $25,657

Dallas

Savable income: $9,177

Homeownership rate: 59.1%

Debt burden: $29,204

San Diego

Savable income: $2,692

Homeownership rate: 52.1%

Debt burden: 26,266$

Los Angeles

Savable income: $7,246

Homeownership rate: 46.5%

Debt burden: 25,147$

Houston

Savable income: $6,117$

Homeownership rate: 59.1%

Debt burden: $29,571

Atlanta

Savable income: $2,503

Homeownership rate: 62.1%

Debt burden: $28,259

Tampa

Savable income: $3,437

Homeownership rate: 62.7%

Debt burden: $27,015

Miami

Savable income: -$3,613

Homeownership rate: 58%

Debt burden: $25,645

San Bernadino

Savable income: $9,760

Homeownership rate: 62.6%

Debt burden: $27,682

The Ten Best Cities to Get Rich In

Baltimore

Savable income: $9,303

Homeownership rate: 66.9%

Debt burden: $27,917

Phoenix

Savable income: $14,828

Homeownership rate: 63.2%

Debt burden: $27,811

Denver

Savable income: $13,099

Homeownership rate: 61.1%

Debt burden: $28,007

Boston

Savable income: $5,115

Homeownership rate: 55.1%

Debt burden: $26,318

Seattle

Savable income: $10,381

Homeownership rate: 55.4%

Debt burden: $27,691

Detroit

Savable income: $12,513

Homeownership rate: 71%

Debt burden: $23,610

St. Louis

Savable income: $10,451

Homeownership rate: 66.2%

Debt burden: $27,486

Washington, D.C.

Savable income: $15,246

Homeownership rate: 64.2

Debt burden: $28,914

Minneapolis

Savable income: $6,557

Homeownership rate: 68.6%

Debt burden: $26,877

San Francisco

Savable income: $16,657

Homeownership rate: 53%

Debt burden: $25,941

 

It Isn’t Really About the City

Of course, your attitude toward wealth has a lot more to do with getting rich than your city does.

Wherever you live, when you’re ready to use your attitude to help you get rich, come visit us.

We can help you put that millionaire mindset to work in every part of your life.

Click here to get started at Millionaire University and learn how to become rich today.

Craig Beck


About The Author: Craig Beck ([email protected]) is the author of several bestselling personal development books and audiobooks. Including Unleashed: How to love yourself more and unlock your full potential, available on Amazon, Audible and in all good bookstores. Craig is also a certified master practitioner of neuro-linguistic programming, hypnotherapy, timeline therapy and a highly in-demand international motivational speaker.

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