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.