Over half of the 20 wealthiest large cities in America are in California, according to a new study from NerdWallet.com. The site recently examined statistics from 475 cities with at least 65,000 people to develop the rankings and found the Golden State at the top of every single category.
To determine each city’s wealth factor, NerdWallet look at median household income and the percentage of homes without a mortgage. They also looked at monthly median home values and the average credit limit for card holders.
Of the top 20 cities, 15 were in California. Palo Alto ranked #1, followed by San Ramon, Pleasanton and Newport Beach. Also making the top 10 were the cities of Yorba Linda; Laguna Niguel; Redwood City; Redondo Beach; and Carlsbad.
Read more about the wealthiest cities in America and see a full list here.
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