The Rich are Getting Richer in California

holiday9-wallet-money-generic
NBC Bay Area

Tech success is bringing California more than just housing and traffic problems. It's now pulling income classes further apart.

The latest numbers from the US Census Bureau show California's upper and lower income classes are moving away from each other, despite efforts to bridge the gap.

In the 12 years from 2006 to 2018, the top 5% of households in the state saw their average earnings reach gain 18%, now at $506,421.

The bottom 20% of California households now earn, on average, $15,562 a year, a drop of 5% which is a problem when it comes to housing.

The median rent in the sate jumped by 16% over the same time period.

You can find the full US Census Bureau here.

Contact Us