Richest and poorest cities in America
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Although the nation’s economy is slowly recovering, the average income of American households continued to stagnate last year while the country’s poverty rate hovered near a generation high of 15%, according to the Census Bureau. In 2012, the median household income -- the point where half earned more and half earned less -- was $51,017; when adjusted for inflation, that income was 8.3% lower than in 2007. Although many U.S. cities saw incomes flat or below years past, some areas fared better than others. The San Jose area ranked No. 1 as the city with the highest median income in the U.S., replacing Washington, D.C., according to research from 24/7 Wall Street. At the bottom is the Brownsville, Texas, area, which nudged out last year’s area in that position, McAllen, Texas. Follow Shan Li on Twitter @ShanLi
