Though wages remain largely stagnant for many American workers, there are several cities around the U.S. where incomes are on the rise.
Personal finance website GOBankingRates analyzed 347 American cities with populations of 500,000 or under, looking for places experiencing a combination of economic prosperity, population growth and rising incomes. To rank the top "boomtowns," or cities that meet these criteria, the site looked at five-year data on population, housing, GDP and per capita income from the U.S. Census Bureau's 2017 American Community and the Bureau of Economic Analysis.
In several of these places, incomes increased 20% or more from 2012 to 2017. In contrast to notoriously expensive cities such as New York or Los Angeles, these metro areas "offer incentives, such as a more affordable cost-of-living or a higher paycheck — or both," GOBankingRates reports.
Below, check out nine cities where personal income has gone up significantly in recent years, ranked by wage growth.
9. Santa Cruz, California
Personal income growth, 2012 to 2017: 20.5%
Population growth, 2012 to 2017: 6.1%
GDP increase, 2012 to 2017: 23.3%
8. Sacramento, California
Personal income growth, 2012 to 2017: 20.6%
Population growth, 2012 to 2017: 4.7%
GDP increase, 2012 to 2017: 26%
7. Sebastian, Florida
Personal income growth, 2012 to 2017: 20.9%
Population growth, 2012 to 2017: 9.3%
GDP increase, 2012 to 2017: 23.5%
6. Naples, Florida
Personal income growth, 2012 to 2017: 22.8%
Population growth, 2012 to 2017: 6.8%
GDP increase, 2012 to 2017: 34%
5. Fayetteville, Arkansas
Personal income growth, 2012 to 2017: 23.4%
Population growth, 2012 to 2017: 10.4%
GDP increase, 2012 to 2017: 37.6%
4. San Luis Obispo, California
Personal income growth, 2012 to 2017: 23.9%
Population growth, 2012 to 2017: 3.7%
GDP increase, 2012 to 2017: 26.2%
3. Boulder, Colorado
Personal income growth, 2012 to 2017: 24.3%
Population growth, 2012 to 2017: 7.2%
GDP increase, 2012 to 2017: 22.3%
2. Reno, Nevada
Personal income growth, 2012 to 2017: 26.5%
Population growth, 2012 to 2017: 5.9%
GDP increase, 2012 to 2017: 36.7%
1. Santa Rosa, California
Personal income growth, 2012 to 2017: 28.6%
Population growth, 2012 to 2017: 4.2%
GDP increase, 2012 to 2017: 33.8%
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