In one year, the median income in this Florida city increased by more than 65%—a list of 10 U.S. cities with the fastest-growing salaries.

In one year, the median income in this Florida city increased by more than 65%—a list of 10 U.S. cities with the fastest-growing salaries.
In one year, the median income in this Florida city increased by more than 65%—a list of 10 U.S. cities with the fastest-growing salaries.

The latest U.S. Census Bureau estimates reveal that the median household income nationwide increased by only 4% from 2022 to 2023.

In Pine Hills, Florida, a suburb of Orlando, the median household income increased by 65% between 2022 and 2023, according to a SmartAsset analysis of Census Bureau data.

Where earnings grew the most among U.S. cities with populations of at least 65,000, SmartAsset analyzed data for 636 cities.

The 10 cities with the most rapid income growth from 2022 to 2023 are:

Despite significant income growth in Pine Hills, households there earned a median of $43,452 in 2022, which was below the national median of $77,540. In 2023, Pine Hills households earned a median of $71,735, still below the national median of $80,610.

In 2023, two of the cities that experienced significant growth in 2022 still had a median income below $60,000.

The percentage of households in Pine Hills earning over $100,000 a year increased from 15% to 27%, according to SmartAsset. This is consistent with earlier research by SmartAsset which revealed that high earners are moving to Florida in large numbers.

Florida's lack of state income tax and low cost of living have historically made it an attractive destination for people across income brackets, allowing residents to keep a larger portion of their paycheck than in higher-cost states.

Rising home insurance costs are making it increasingly expensive to reside in Florida, commonly known as the Sunshine State.

Four California towns rank among the top 10 cities with the largest income growth, but Florida's statewide median household income only grew by 6% between 2022 and 2023, while California's median only grew by 1%, according to Census Bureau data.

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