Census Data: Wealthier People Live In Suburbs
(CNN) — The richest Americans are mostly living in the suburbs.
According to the U.S. Census Bureau, more than 6 percent of households in America’s suburbs have top bracket incomes. In city centers, less than 5 percent of households made the cut of top earners.
Not surprisingly, the study found that wealthy people tend to live near major population centers. Southern Connecticut, home to many hedge funds, has the highest concentration of wealthy households. Silicon Valley in California is a close second.
The study did not take into account cost of living, which can significantly reduce or boost buying power in an area.