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24/7 Wall St.: America's Richest and Poorest Cities

America's Richest Cities

2. San Jose-Sunnyvale-Santa Clara, Calif.

Median household income: $84,012

Population: 1,865,450 (31st highest)

Unemployment rate: 9.9% (105th highest)

Pct. households below poverty line: 10.6% (21st lowest)

The San Jose area is home to some of America’s top technology companies, which employ highly-compensated engineers and other technology professionals. More than 45% of adult residents had at least a college degree as of 2010, according to a recent study by the Brookings Institute, making San Jose the second-most educated metropolitan region in the country. The median home value as of 2011 was $618,000 and 18.7% of homes were worth at least $1 million, both the highest in the country. Despite having the second-largest median household income in 2011, the area’s unemployment rate of 9.9% was significantly higher than the national rate of 8.9% as California has suffered especially hard from the housing bust.

(iStock Photo)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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