LOS ANGELES, December 6, 2017 — Southeast Florida tops the list of richest area codes, while rural New Mexico has the poorest, a new study found.
Personal finance website GOBankingRates used income data from the Census Community Survey to assemble a list of the wealthiest and poorest area codes in the country, determined by mean household income of the cities in the area codes. To find the richest area codes, the three highest mean incomes per area code were averaged to come up with the overall mean income for the area code. To find the poorest area codes, the three lowest mean incomes per area code were averaged.
For full study results and more details on methodology, visit: Richest and Poorest Area Codes.
Top 5 Area Codes Where People Have the Most Money
1. Area Code 305 – Miami, Florida, and the Florida Keys
Mean household income: $485,464
2. Area Code 516 – Long Island, New York
Mean household income: $435,924
3. Area Code 650 – San Francisco Bay Area, California
Mean household income: $404,544
4. Area Code 301 – Maryland and DC Metro Area
Mean household income: $372,192
5. Area Code 561 – Palm Beach County, Florida
Mean household income: $368,063
Top 5 Area Codes Where People Have the Least Money
1. Area Code 575 – Rural New Mexico
Mean household income: $15,110
2. Area Code 573 – Eastern Missouri
Mean household income: $16,895
3. Area Code 580 – South and West Oklahoma
Mean household income: $17,592
4. Area Code 304 – West Virginia
Mean household income: $17,637
5. Area Code 662 – Northern Mississippi
Mean household income: $17,953
Additional Study Insights
- The discrepancy in income between the richest and the poorest area code is a whopping $470,354.
- California had the most cities with rich area codes, with three just in the San Francisco Bay Area alone.
- Unsurprisingly, states away from the coast had the poorest area codes, but northwest California area code 707 still appeared at number 19 on the list.
GOBankingRates.com is a personal finance news and features website dedicated to helping visitors live a richer life. From tips on saving money, to investing for retirement or finding a good interest rate, GOBankingRates helps turn financial goals into milestones and money dreams into realities. Its content is regularly featured on top-tier media outlets, including MSN, MONEY, AOL Finance, CBS MoneyWatch, Business Insider and dozens of others. GOBankingRates specializes in connecting consumers with the financial institutions and products that best match their needs. Start your journey toward a rich mind and full wallet with us here.
Kim Dahlgren, Media Relations