MALIBU—Malibu and Beverly Hills are among the wealthiest cities in the United States, according to an analysis of census data published on Wednesday, March 22.
The research firm Bloomberg Intelligence ranked America’s 100 Richest Places based on U.S. Census Bureau inflation-adjusted household income data for all U.S. cities with a minimum population of 2,000.
Malibu ranked 48th with an average household income of approximately $238,400 in 2015 – nearly $11,000 more than its estimated household income in 2014 which ranked at $228,700. Beverly Hills ranked 88th with an average household income of approximately $199,000 in 2015– nearly $10,000 more than its estimated household income in 2014 which ranked at $191,100. The median income in Los Angeles County in 2015 was $54,510, according to census figures.
Bloomberg Intelligence reported cities with links to major tech and financial centers tend to fare better than those without. One-third of the lists 100 richest places were located within a 50-mile radius of New York City.
“The industries that are located in the so-called fly-over states don’t pay nearly the same as those on the coasts,” said Richard Yamarone, an economist at Bloomberg Intelligence, in a statement. “Earnings for farmers, ranchers and manufacturers simply pale in comparison to the larger salary and bonus-laden occupations.”
Four other cities in Los Angeles County also made Bloomberg’s top 100: Palos Verdes Estates ranked 38th with an average household income of $245,900; La Cañada Flintridge ranked 64th at $220,400; Manhattan Beach ranked 71st with at $214,500; and San Marino ranked 78th at $207,300.