Report Names Midland, Texas, the 2nd Richest Metro Area in the Country
San Francisco, Washington, D.C., and … Midland, Texas? The Bureau of Economic Analysis released its personal income report for 2011, naming the richest metropolitan areas in the United States by personal income per capita, and the top two spots require some explanation.
At number one, there’s Bridgeport, Connecticut, one of the most unequal metropolitan areas in the country. Home to both Bridgeport, the struggling industrial city, and Greenwich, the home for hedge fund billionaires on the outskirts of New York City, the metropolitan area has the nation’s highest share of income earned by the top fifth. This is case where averages tell you one thing — there are some intensely rich people living in the Bridgeport MSA — while the median would give you a typical household income figure closer to $30,000.