The Most Socioeconomically Diverse Cities in the U.S.

Diversity — economic and cultural — can help a local economy thrive in the long run.

The Most Socioeconomically Diverse Cities in the U.S.

By 2050, the United States is expected to look a lot different. Diversity is on the rise, and it’s not just about racial and ethnic diversity. Economic diversity plays a big role in how well cities, states and countries adapt to changing realities.

A recent study by WalletHub looked at many factors to determine which cities in the U.S. are the most diverse. One of the indicators they looked at was socioeconomic diversity, which includes income diversity and diversity in educational attainment.

If you’re looking for a place with a more balanced socioeconomic situation, here are 25 U.S. cities considered the most socioeconomically diverse.

25. Roswell, Georgia

Economic diversity rank: 436

Overall diversity rank: 24

Median household income: $87,911

Median property value: $333,200

Roswell is a suburb of Atlanta, and the eighth-largest city in the state of Georgia. The economy employs about 50,000 people, and the largest industry is professional, scientific and technical Services. The poverty rate is almost 9 percent.

23. West Des Moines, Iowa (Tie)

Economic diversity rank: 471

Overall diversity rank: 327

Median household income: $73,764

Median property value: $203,300

Even though West Des Moines isn’t particularly diverse in general, its socioeconomic diversity is among the best. The poverty rate is 6.22 percent and there are about 36,446 employees in the area. Additionally, homeownership is at 60.7 percent, adding to the general socioeconomic diversity.

23. Bentonville, Arkansas (Tie)

Economic diversity rank: 495

Overall diversity rank: 296

Median household income: $79,259

Median property value: $203,800

One of the main drivers of the Bentonville economy is retail trade — unsurprising with the Walmart headquarters located in the city. The population has seen a 4.95 percent growth in recent years, and the poverty rate sits at 7.33 percent.

22. Durham, North Carolina

Economic diversity rank: 458

Overall diversity rank: 65

Median household income: $56,375

Median property value: $230,100

With a median age of 34.2, it’s no surprise that Durham is considered one of the best cities for millennials. However, the socioeconomic diversity is seen in a poverty rate of 17.4 percent and a homeownership rate of 47.8 percent. Educational attainment is also highly ranked in Durham, which isn’t surprising with Duke University and Durham Technical Community College in town.

21. Portsmouth, New Hampshire

Economic diversity rank: 409

Overall diversity rank: 411

Median household income: $72,384

Median property value: $373,000

While not particularly diverse in terms of its economy or overall, Portsmouth nonetheless features a certain level of socioeconomic diversity. The poverty rate is 6.9 percent and homeownership comes in at 50.5 percent. There are two cosmetology schools in Portsmouth, along with a community college.

20. Norwalk, Connecticut

Economic diversity rank: 167

Overall diversity rank: 17

Median household income: $81,546

Median property value: $421,900

This is a city with a little more overall diversity, and some economic diversity as well as socioeconomic diversity. Household income has grown recently, even though the number of employees has declined. The poverty rate sits at 9.2 percent and homeownership is at 59.6 percent.

19. Plano, Texas

Economic diversity rank: 455

Overall diversity rank: 57

Median household income: $94,306

Median property value: $329,500

The largest industry in Plano is professional, scientific and technical services, but the highest-paying industries are mining, quarrying, and oil and gas extraction. Even though there has been a slight decline in population, the number of employees and household income have both been growing. There’s a poverty rate of 7.03 percent.

18. Hoover, Alabama

Economic diversity rank: 430

Overall diversity rank: 151

Median household income: $81,038

Median property value: $271,600

Hoover is the largest suburb near Birmingham and boasts about 43,885 employees. The poverty rate is 6.5 percent, and the homeownership rate is 68.4 percent — which is relatively high. The largest industry in Hoover is health care and social assistance.

17. Oakland, California

Economic diversity rank: 114

Overall diversity rank: 34

Median household income: $70,577

Median property value: $686,700

In terms of economic diversity and overall diversity, Oakland is fairly well placed. Its socioeconomic numbers are interesting, with a poverty rate of 18.7 percent and homeownership at 39.3 percent, showing that there is a solid range of experiences in the city.

16. Sandy Springs, Georgia

Economic diversity rank: 475

Overall diversity rank: 12

Median household income: $70,920

Median property value: $440,500

This is another Atlanta suburb that made the cut as one of the most socioeconomically diverse cities. The poverty rate is 11.2 percent, although there has been recent growth in household income and number of employees. Homeownership is at 46.1 percent.

15. Raleigh, North Carolina

Economic diversity rank: 263

Overall diversity rank: 73

Median household income: $72,576

Median property value: $244,500

Raleigh is another city on this list that appears attractive to millennials, thanks in part to the jobs available in the health care and social assistance, and professional, scientific and technical services industries. These two industries are fairly close in the number of people they employ, showing a reasonable level of industrial diversity. The poverty rate is 14 percent and the homeownership rate is at 53.4 percent.

14. Stamford, Connecticut

Economic diversity rank: 358

Overall diversity rank: 14

Median household income: $84,893

Median property value: $516,000

With less than half its population considered white alone, it’s little surprise that Stamford ranked highly in overall diversity. However, the city is also socioeconomically diverse, with a poverty rate of 9.25 percent and a homeownership rate of 54.3 percent.

13. Overland Park, Kansas

Economic diversity rank: 466

Overall diversity rank: 183

Median household income: $78,217

Median property value: $248,100

This city has seen growth in its population, number of employees and household income. Even the property values have seen recent growth. The poverty rate is at 5.79 percent and homeownership sits at 62.8 percent.

12. Seattle, Washington

Economic diversity rank: 452

Overall diversity rank: 180

Median household income: $86,822

Median property value: $673,100

With three large universities in the Seattle area, educational attainment is a possibility for many residents. The poverty rate is 12.5 percent, and the homeownership rate is 47.1 percent. Property value has increased dramatically in recent years, and the number of jobs and household income are growing as well.

11. South Burlington, Vermont

Economic diversity rank: 472

Overall diversity rank: 401

Median household income: $66,197

Median property value: $280,800

When it comes to overall diversity, South Burlington is near the bottom of the pack. Additionally, the number of employees and the household income are in decline. There’s a poverty rate of 5.73 percent and homeownership is at 61.7 percent. This indicates some level of socioeconomic diversity for this suburb of Burlington.

10. Lenexa, Kansas

Economic diversity rank: 439

Overall diversity rank: 217

Median household income: $81,173

Median property value: $240,300

There are educational institutions in Lenexa, contributing to educational attainment, and there has been growth in median household income and property value. The poverty rate is 5.39 percent and the homeownership rate is 62.9 percent in this city just southwest of Kansas City.

9. Denver, Colorado

Economic diversity rank: 294

Overall diversity rank: 36

Median household income: $65,224

Median property value: $395,100

The proximity to the mountains makes many people value Denver for its quality of life. The biggest two industries in the city are professional, scientific a technical Services, and health care and social assistance. With close to the same number of employees in each, there’s an indication of industrial diversity. There are also three large universities. The poverty rate is 15.1 percent and the homeownership rate is 50 percent.

7. San Diego, California (Tie)

Economic diversity rank: 204

Overall diversity rank: 21

Median household income: $76,662

Median property value: $600,300

Located right on the Pacific Ocean and known for its beaches, this city has a lot to offer. In terms of socioeconomic diversity, there has been a recent growth in median household income. The poverty rate is 14.5 percent and the homeownership rate is 47.1 percent.

7. Germantown, Maryland (Tie)

Economic diversity rank: 247

Overall diversity rank: 7

Median household income: $89,720

Median property value: $326,600

The third-most populous city in Maryland, Germantown has about 50,628 employees, many of which are employed in the largest industry, professional, scientific and technical services. The poverty rate is 7.21 percent and the rate of homeownership is 64.5 percent.

6. Aurora, Illinois

Economic diversity rank: 338

Overall diversity rank: 15

Median household income: $66,848

Median property value: $170,800

Aurora is a relatively sizable suburb of Chicago. The city has seen a recent growth in median household income. The poverty rate is 13.1 percent, while the homeownership rate is 64.7 percent. The largest industry in the city is manufacturing.

5. Austin, Texas

Economic diversity rank: 165

Overall diversity rank: 42

Median household income: $67,755

Median property value: $332,700

The capital of Texas has a lot going for it, including ranking No. 47 for cultural diversity. In terms of socioeconomic diversity, the University of Texas at Austin and the Austin Community College District offer educational attainment. The poverty rate is 15.4 percent and the homeownership rate is 45 percent.

4. New Rochelle, New York

Economic diversity rank: 277

Overall diversity rank: 19

Median household income: $77,320

Median property value: $552,700

In recent years, New Rochelle has seen an increase in the number of employees it has, as well as in household income. The largest industries are health care and social assistance, and educational services. The poverty rate is 11.2 percent and 50.9 percent of the population owns a home.

3. Alexandria, Virginia

Economic diversity rank: 289

Overall diversity rank: 23

Median household income: $93,370

Median property value: $537,900

Located near Washington, D.C., this city continues to see modest growth in population, employees and household income. The poverty rate is 10.5 percent and homeownership is at 43.1 percent, offering some degree of socioeconomic diversity.

2. Gaithersburg, Maryland

Economic diversity rank: 300

Overall diversity rank: 4

Median household income: $85,773

Median property value: $380,300

In the top five for overall diversity, this city is located close to the nation’s capital, and it shows. One of the top three industries in the city is public administration, along with professional, scientific and technical services, and health care and social assistance. The homeownership rate is 52.2 percent and the poverty rate is 9.54 percent.

1. Silver Spring, Maryland

Economic diversity rank: 168

Overall diversity rank: 6

Median household income: $76,608

Median property value: $477,800

The top two industries in Silver Spring are professional, scientific and technical services, and public administration. This is another Maryland town that serves as a suburb to Washington, D.C. The homeownership rate is a relatively low 35.9 percent and the poverty rate is 11 percent.