The 100 Million Dollar Map Series: High Income Communities
I recently read an article on the change in home prices in the US posted by a big-name finance publisher you would know. The map in the article was supposed to help shed light for its readers on where those prices are changing most. Problem with the map - the bad markets didn't look that much different than the good ones.
Rendering data is an art, a learned skill, it's not easy. So in this $100M map series article, I'm going to attempt to create a series of maps for you, to show you high and low income areas in the US, but I'll be doing it just a bit differently. Rather than simply showing micro spots, those areas we all know where the filthy rich live, I'll be scanning the US market with a 3-mile radius (that's a whopping 28 square miles), looking for the top 20 areas in the US. This will help provide what I think is a more balanced view of income. As you review these markets, feel free to comment, correct, dispute, or cheer (if you live in one of the 20 circles) -- anything that is on your mind.
1 - East Berkeley, CA. So I knew that the top area of wealth would be in the Bay Area, but I was blown away to learn that 5 of the top 20 micro areas are located there. This alone testifies to the massive wealth in this Northern California city. Look at all the dark purple (high income).
3 - McLean VA. Here, like the Bay Area, are multiple areas of wealth, 4 of the top 20.
5, Gold Coast, CT. Here again - multiple micro markets show up. I can't believe how much of the country's wealth is tied up in just three metro areas - San Francisco, D.C., and New York, 14 of the top 20. Let me know your thoughts, if this was a surprise to you.
6, Beverly Hills/Bel Air, CA. No surprise here, Beverly Hills and Newport Beach show up. But what is a huge surprise to me as an Angelino - we have this sense that wealth is absolutely everywhere in LA. But it's not. It's actually very localized, not nearly as encompassing as the Bay Area or DC.
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9, West Boston MA. Don't know much about Boston, but the 9th market is here
16, West St Louis. The ONLY Midwest city to make the list is St. Louis. Well done!
17, Denver. The only Mountain city to make the list
GeoStrategies can identify top areas and clusters of market potential for any industry and company, anywhere in the US. Our market mapping support can start small and grow into investment-grade mapping as a company grows or the requirements of financial sponsors are elevated. All of the maps are available online, on our mapping platform, Epiphany Analytics.
To schedule a review of GeoStrategies' support and optimization for your company, or to schedule a corporate event or a Vistage Talk, contact Carl Schroeder, carl@geostrategies.com, 805.279.9540
www.geostrategies.com
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1yThanks for sharing this, Carl
Vice President | Marketing | Sales | Insights | Strategy | Consulting | Business Intelligence | Market Analysis | Data
2yIs this high/low income for the market or high/low income for the country? Markets like San Francisco, Los Angeles, Boston, New York and DC have high incomes, but you need a high income to live there. Income does not equal wealth.
Estate & Tax Planning for Savvy, Caring Families
2yCarl this is fantastic content!