Neighborhoods in Chicago, NY and DC see biggest spike in high earners moving in

The concentration of residents earning $200K+ jumped the most in a handful of metro area census tracts

Dec.December 18, 2018 11:15 AM

(Credit: iStock)

Over the last 20 years, a neighborhood on Chicago’s near North Side once home to a notorious public housing complex has seen the greatest increase of residents earning more than $200,000 of any area in the U.S.

An analysis of U.S. Census data by consulting firm Webster Pacifics showed the Cabrini Green area of Chicago and a portion of the north suburb of Glenview now ranks in the top 10 in Census tracts with the greatest increase in high earners, according to Bloomberg.

Census tracts in New York came in at No. 9 and 10, while Washington, D.C., suburbs had four tracts in the top 10.

Rounding out the top 10 were the area surrounding Marsh Landing, a gated community in Ponte Vedra Beach near Jacksonville, Florida, and a neighborhood in Houston. Ten areas of Houston made the top 100 Census tracts on the list.

Nationally, nearly 7 percent of American households earn at least $200,000, the highest percentage in the Census Bureau’s American Community Survey.

The area around Cabrini Green in Chicago saw the concentration of high earners soar from zero to 39 percent since 2000, not long after the city began tearing down the complex and promoting redevelopment in the area. The Glen planned community in north suburban Glenview came in at No. 7 on the Webster Pacifics list.

The neighborhood with the country’s wealthiest residents is in Fisher Island in Miami, where the average income is $1 million higher than the second-wealthiest ZIP code, in the heart of Silicon Valley. [Bloomberg] — John O’Brien


Related Articles

(Credit: iStock)

Chicago-area home values saw poor start to 2020

Mayor Lori Lightfoot (Credit: Getty Images)

Chicagoans flee to their second homes

854 W. Webster Ave. (Credit: Redfin)

Here are the priciest resi sales in Chicago this week

From left: Lendlease CEO Steve McCann, and Magellan CEO David Carlins, with a rendering of the Cirrus and Cascade projects (Credit: Lendlease/Magellan/bKL Architecture via Curbed)

Lendlease, Magellan land $283M in construction financing for resi towers project

(Credit: iStock)

Chicago is No. 3 city for single women to buy a home: study

924 N. Clark Street and owner of the mansion, Rishi Shah

Revealed: What accused fraudster Rishi Shah paid for one of Chicago’s grandest mansions

Wolf Point East at 313 W. Wolf Point Plaza and Nema Chicago at 1210 South Indiana Avenue (Credit: Hines, Nema Chicago)

Over 10K new apartments could flood Downtown Chicago by 2022. But there’s a catch

EquityBuild's Shaun and Jerome Cohen and one of the corporation's properties at 7549-7559 South Essex Avenue (Credit: Google Maps)  

Ponzi scheme fallout: South Side has thousands of distressed apartments