Over 20 SoCal cities make list for income decline

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CALIFORNIA – A recent study by SmartAsset found that over 20 cities in Southern California had income declines.

Many cities in the region have experienced rising poverty rates and a shrinking middle class due to factors like high living costs and uneven economic recovery post-pandemic.

According to the latest U.S. Census Bureau data, household income changes can vary widely across cities, and while some cities see incomes outpace inflation, others may experience sharp declines that exacerbate rising costs,” said the SmartAsset study.

Palmdale had the highest decline in SoCal

Southern California cities that had the highest declines from 2022 to 2023 are Palmdale (−12.83%), Hawthorne (−11.36%), Carlsbad (−10.46%) Hesperia (−8.77%) and Rialto (−6.15%).

Marysville, WA, a suburb of Seattle, had the largest income decline nationwide. The median household income dropped from $104,433 to $85,708 – a 17.93% decrease over just one year.

SmartAsset analyzed data from 630 cities to rank them based on the percentage decline in median household income over one year, according to the latest data from the U.S. Census Bureau.

RankCityOne-year change in median incomeMedian income 2023Median income 2022
16Palmdale-12.83%$78,743$90,330
24Hawthorne-11.36%$65,166$73,515
30Carlsbad−10.46%$131,257$146,596
43Hesperia-8.77%$67,348$73,821
68Rialto -6.15%$80,321$85,585
78Jurupa Valley−5.46%$87,809$92,883
81Lancaster−5.21%$74,991$79,113
93Rancho Cucamonga−4.60%$103,358$108,345
96Westminster−4.44%$81,443$85,229
97Menifee−4.41%$82,402$86,206
108Santa Barbara−3.81%$100,041$104,001
110Perris−3.58%$77,365$80,234
112Victorville−3.55%$67,099$69,569
115Mission Viejo−3.43%$122,135$126,469
126Yorba Linda−3.04%$146,923$151,534
138 Hemet−2.46%$52,824$54,156
145Costa Mesa−2.37%$101,433$103,891
151San Buenaventura−2.10%$97,970$100,073
165Lake Forest−1.41%$126,234$128,033
178Burbank−0.71%$91,926$92,581
179Santa Monica−0.48%$109,503$110,030
183Anaheim−0.31%$84,872$85,133

Apple Valley had the highest income increase

Although these 22 SoCal cities saw a decrease in incomes, over 50 had an increase.

Apple Valley (37.33%) had the highest increase in Southern California and second highest nationwide. From 2022 to 2023 the median income increased from $56,187 to $77,159.

Other Southern California cities with the highest income increases are Newport Beach (28.83%), Chino Hills (20.11%), Lake Elsinore (19.16%), Oceanside (19.02%) and Upland (16.69%).

Nationwide, Pine Hills, FL had the highest income increase – 65.09%. The median income increased from $43,452 to $71,735.

To read the full report visit https://smartasset.com/data-studies/income-decline-2024

RELATED: New report says 2 SoCal counties are most vulnerable to housing market troubles 

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