What do you get when you mix an education epicenter with a technology hub? The richest city in America.
According to data compiled by Bloomberg, the newest reigning metropolitan area for wealth and productivity is San Jose, Calif., the third-largest city in the state and a hub of Silicon Valley. The 2014 gross metropolitan product (GMP) per capita—which is a technical way of saying economic output per resident—in the San Jose metro area was $105,482, more than double the national average.
Since the Great Recession, technology hot spots have inched their way forward in attracting the smartest and most highly compensated residents, surpassing the East Coast centers of the financial elite. To be sure, the other coast is well represented: cities like Boston and Philadelphia still rank highly, and Bridgeport, Ct., comes in second on Bloomberg's list, with a per-resident GMP of $94,349.
The results are hardly surprising--home prices are perhaps one of the most conspicuous indicators of wealth, and real estate in Silicon Valley doesn't come cheap (just ask any number of California-based Apple workers, whose house could very well be worth five times more than your own.)
Good news to those living in some of Bloomberg's top-ranked cities (looking at you, Boston, San Fran, and Seattle): Your towns are among Money's best places to live for rich singles.
Check out Bloomberg's map of the top 20 cities to find out if you live in one of the richest places. If you're more like the rest of us and just want to live in one of the best cities period, check out Money's list of the 50 Best Places to Live in America.