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Top Boomtowns Across America: Where Income Shines Amid Economic Growth
People living in boomtowns often find themselves with higher incomes. However, some areas may surprisingly offer lower earnings despite their economic development.
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According to GOBankingRates, the leading boomtown in each state was identified using data from the U.S. Census American Community Survey since 2014. Insights from Sperling’s BestPlaces regarding cost of living and the Bureau of Labor Statistics Consumer Expenditure Survey were also considered.
Continue reading to find out about potential earnings in the largest boomtown of each state.
Alabama: Huntsville
- Household median income: $67,874
- Annual cost of living: $42,557
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Alaska: Anchorage
- Household median income: $95,731
- Annual cost of living: $55,158
Arizona: Buckeye
- Household median income: $94,188
- Annual cost of living: $53,018
Arkansas: Bentonville
- Household median income: $99,074
- Annual cost of living: $53,293
California: Irvine
- Household median income: $122,948
- Annual cost of living: $145,409
Colorado: Colorado Springs
- Household median income: $79,026
- Annual cost of living: $53,732
Connecticut: Bridgeport
- Household median income: $54,440
- Annual cost of living: $54,662
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Delaware: Wilmington
- Household median income: $54,731
- Annual cost of living: $46,744
Florida: Horizon West
- Household median income: $118,064
- Annual cost of living: $64,193
Georgia: Atlanta
- Household median income: $77,655
- Annual cost of living: $55,669
Hawaii: Honolulu
- Household median income: $82,772
- Annual cost of living: $118,988
Idaho: Meridian
- Household median income: $93,296
- Annual cost of living:
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Illinois: Plainfield
- Household median income: $143,064
- Annual cost of living: $50,718
Indiana: Westfield
- Household median income: $117,519
- Annual cost of living: $54,469
Iowa: Waukee
- Household median income: $106,846
- Annual cost of living: $47,308
Kansas: Olathe
- Household median income: $108,077
- Annual cost of living: $50,414
Kentucky: Lexington
- Household median income: $66,087
- Annual cost of living: $43,378
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Louisiana: Prairieville
- Household median income: $111,927
- Annual cost of living: $48,347
Maine: Portland
- Household median income: $71,498
- Annual cost of living: $61,317
Maryland: Clarksburg
- Household median income: $165,551
- Annual cost of living: $72,672
Massachusetts: Wellesley
- Household median income: $250,000
- Annual cost of living: $161,659
Michigan: Allendale
- Household median income: $64,356
- Annual cost of living: $47,411
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Minnesota: Minneapolis
- Household median income: $76,332
- Annual cost of living: $46,631
Mississippi: Olive Branch
- Household median income: $93,762
- Annual cost of living: $45,221
Missouri: Wentzville
- Household median income: $109,158
- Annual cost of living: $49,004
Montana: Bozeman
- Household median income: $74,113
- Annual cost of living: [Data incomplete]
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Exploring Household Incomes and Living Costs Across the U.S.
Understanding the financial landscape of various cities can help individuals make informed decisions about where to live. Here’s a look at household incomes and the annual cost of living in several cities across the United States.
Nebraska: Omaha
- Household median income: $70,202
- Annual cost of living: $42,762
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Nevada: Henderson
- Household median income: $85,311
- Annual cost of living: $59,844
New Hampshire: Dover
- Household median income: $90,844
- Annual cost of living: $60,248
New Jersey: Jersey City
- Household median income: $91,151
- Annual cost of living: $71,622
New Mexico: Rio Rancho
- Household median income: $78,978
- Annual cost of living: $46,098
New York: Kiryas Joel
- Household median income: $40,218
- Annual cost of living: $65,598
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North Carolina: Apex
- Household median income: $129,688
- Annual cost of living: $65,059
North Dakota: Fargo
- Household median income: $64,432
- Annual cost of living: $42,885
Ohio: Marysville
- Household median income: $89,104
- Annual cost of living: $47,244
Oklahoma: Broken Arrow
- Household median income: $82,547
- Annual cost of living: $42,344
Oregon: Bend
- Household median income: $82,671
- Annual cost of living: $73,495
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Pennsylvania: Reading
- Household median income: $42,852
- Annual cost of living: $41,477
Rhode Island: Providence
- Household median income: $61,365
- Annual cost of living: $52,521
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Exploring America’s Boomtowns: Income and Living Costs Revealed
South Carolina’s Coastal Charm: Bluffton
- Household median income: $99,575
- Annual cost of living: $58,171
The Heartland’s Growth: Sioux Falls, South Dakota
- Household median income: $71,785
- Annual cost of living: $44,465
Rising Star in the South: Spring Hill, Tennessee
- Household median income: $104,880
- Annual cost of living: $59,987
Texas Growth Spurt: Leander
- Household median income: $129,684
- Annual cost of living: $55,682
Mountain Living: Herriman, Utah
- Household median income: $115,198
- Annual cost of living: $66,392
New England’s Allure: Burlington, Vermont
- Household median income: $64,931
- Annual cost of living: $63,684
Suburban Comfort: Woodbridge, Virginia
- Household median income: $93,347
- Annual cost of living: $59,867
Tech Town Highlights: Redmond, Washington
- Household median income: $155,287
- Annual cost of living: $125,544
West Virginia’s Cultural Center: Morgantown
- Household median income: $41,103
- Annual cost of living: $42,085
Wisconsin’s Capital: Madison
- Household median income: $74,895
- Annual cost of living: $52,154
Wyoming’s Historic Center: Cheyenne
- Household median income: Data not provided.
- Annual cost of living: Data not provided.
Methodology: This study by GOBankingRates analyzed data from the American Community Survey to determine the leading boomtowns in each state. Factors such as total population, housing, and income were assessed over several years. Cost of living figures were sourced from Sperling’s BestPlaces, while housing data was taken from the Zillow Home Value Index as of September 2024.
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This article originally appeared on GOBankingRates.com: Would You Make Enough in the Biggest Boomtown in Your State?
The opinions expressed here are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
