Here’s some good economic news. As a whole, median household incomes in the city of Detroit are rising among the fastest in the nation.
According to U.S. Census Data put together and ranked by SmartAsset, median household incomes in the city of Detroit rose from $25,980 in 2015 to $28,099 in 2016.
“Since total U.S. median income rose 3.2% in the past year, this shows a couple of things about Detroit. First, the mix of higher incomes is rising as young professionals, and overall better-paying jobs, come back into the city. It also may indicate that the salary base in Detroit is improving to where increases in individual salaries are rising faster than the U.S. total,” said Scott Grissom, Founder of Guided by Coffee, a locally based financial navigator. “Detroit has way to go to meet the U.S. median of $59,039, but it is very encouraging to see overall income in the city rising at nearly three times the national average.”
That 8.2% rise is the 16th-fastest growing household income level in the nation. The fastest in the nation was Miami, Florida. The full list is here.