Friday, September 17, 2010

Income Inequality in US Large Metros

Using 2006-08 American Community Survey data, the following are the large metros (at least 1 million households) with the highest income inequality, as measured by the mean log difference.

1. New York 3.271
2. Boston 3.099
3. San Francisco 3.088
4. Philadelphia 3.066
5. Miami 3.064

The numbers represent the geographic mean of the income ratio of 2 households drawn at random. The large Notheast cities obviously do not fare well. San Francsico had the lowest percentage of households between $25,000 and $100,000. Miami has the highest percentage of below $25,000 households.

The most equal metros among this group are below:
1. Riverside 2.729
2. Minneapolis 2.737
3. Phoenix 2.768
4. Washington 2.802
5. Tampa 2.803

This list includes all 4 metros (all but Washington) where over 80% of the population has incomes between $15,000 and $150,000. Riverside obviously benefits from being a somewhat suburban area of LA. Washington is the excpetion to the inequality on the East Coast, as a result of the influence of the unique federal influence.

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