CALIFORNIA BUSINESS MINUTE
Wealthiest Communities
04-06-10
Hi, I am Tim Johnson and welcome to the California Business Minute
Newport Beach has topped a list of the nation’s top wealth clusters by the business
Website - Portfolio.com. The city beat out 420 U.S. communities with populations
of more than 75,000, according to the report.
Newport Beach has per capita income of $86,586. Its per capita income is triple that
of the nation’s at $27,589. More than a quarter of Newport Beach’s households, 28.6%,
have annual incomes of more than $200,000. The median home value in Newport Beach is
more than $1 million.
Porfolio.com looked at the Census Bureau’s 2008 American Community Survey to come up
with its ranking. The site looked at various criteria, including per capita income;
median household income; percentage of households with annual incomes of $200,000 or
more; and median home value.
Newport Beach beat out Boston suburb Newton, Mass., in the No. 2 spot and San Francisco
Bay Area’s Pleasanton at No. 3. The only other Orange County city to make the list was
Irvine at No. 15.
Other California cities that dominate the top of the list are: Santa Monica #5;
Mountain View #6; Thousand Oaks #7; San Francisco #8; Sunnyvale#10; San Mateo #13
and Irvine # 15.
I am Tim Johnson and this has been the California Business Minute.
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