10 Cities Where the Rich and Poor Divide Is the Biggest — and What To Do If You Live in One
Income inequality remains a pressing concern in numerous U.S. cities, with the chasm between the affluent and those facing financial hardships continuing to expand in some places. A recent study by SmartAsset highlighted the cities where this disparity is most pronounced. It used an income spread between the highest-earning and lowest-earning quintiles to determine how much the highest-earning households make for every dollar the lowest-income households make. Read Next: Salary Needed To Achieve the American Dream in the 50 Largest Cities Explore More: 6 Hybrid Vehicles To Stay Away From in Retirement If you reside in one of these areas, understanding the dynamics of income inequality and exploring strategies to bolster financial stability can be crucial. New Orleans Ratio of earnings threshold for top 20% vs. bottom 20%: $7.91 Percentage change in income spread (2023 to 2024): 0.45% 2024 median household income: $51,913 Find Out: The Living Wage a Family of 4 Needs in All 50 States Boston Ratio of earnings threshold for top 20% vs. bottom 20%: $7.70 Percentage change in income spread (2023 to 2024): -1.31% 2024 median household income: $84,548 Newark, New Jersey Ratio of earnings threshold for top 20% vs. bottom 20%: $6.79 Percentage change in income spread (2023 to 2024): -0.21% 2024 median household income: $74,747 Philadelphia Ratio of earnings threshold for top 20% vs. bottom 20%: $6.29 Percentage change in income spread (2023 to 2024): -0.58% 2024 median household income: $56,385 Jersey City, New Jersey Ratio of earnings threshold for top 20% vs. bottom 20%: $6.01 Percentage change in income spread (2023 to 2024): -1.24% 2024 median household income: $82,361 New York City Ratio of earnings threshold for top 20% vs. bottom 20%: $5.80 Percentage change in income spread (2023 to 2024): 0.53% 2024 median household income: $79,463 Atlanta Ratio of earnings threshold for top 20% vs. bottom 20%: $5.76 Percentage change in income spread (2023 to 2024): -0.46% 2024 median household income: $89,798 Detroit Ratio of earnings threshold for top 20% vs. bottom 20%: $5.56 Percentage change in income spread (2023 to 2024): 0.91% 2024 median household income: $55,928 Chicago Ratio of earnings threshold for top 20% vs. bottom 20%: $5.50 Percentage change in income spread (2023 to 2024): 0.39% 2024 median household income: $76,614 Memphis, Tennessee Ratio of earnings threshold for top 20% vs. bottom 20%: $5.47 Percentage change in income spread (2023 to 2024): -1.74% 2024 median household income: $61,452 Strategies To Navigate Wealth Gaps in These Cities Living in a city with a high-income divide can be challenging, but there are ways to build financial stability and take advantage of available opportunities.
