US National Capitol Building beautiful America Washington DC United States
SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below.
Piggybacking U.S. Census counts, congressional redistricting in 2020 accounted for population changes in each state over the previous ten-year period. Still, day-to-day life may look very different in the richest and poorest congressional districts in America. While the latest IRS data puts the average household adjusted gross income (AGI) in the United States at $92,577, some congressional districts average up to five times that. And this can leave diverse footprints on the economies and politics of these areas.
With this in mind, SmartAsset ranked U.S. congressional districts based on the percent of tax returns with over $200,000 reported AGI.
Key Findings
The average household AGI in California’s 18th Congressional District is $476,000. Potentially due to its proximity to Silicon Valley, one-third of households in this district earn over $200,000 per year andnearly half of them (14.8%) make over $500,000 annually. This makes it the richest congressional district in the U.S.
New York’s richest congressional district earns an average of $327,500 per household. Situated in Manhattan, NY-12 is the fourth-richest across the nation. This district has 94,790 households earning over $200,000 annually, or 22.0% of returns. 33,810 of these households earn over $500,000.
Florida’s richest congressional district has an average AGI of $176,800. The 19th district, located in Southwest Florida, ranks 57th across the U.S., with 12.1% of households earning $200,000 or more, and 4.2% of households earning at least $500,000.
15.9% of households are high-earners in Texas’s richest district. The third congressional district, situated in the northeast Dallas suburbs, has an average AGI of $133,841. A total of 71,270 households earn over $200,000 here, making it the richest district in Texas and 27th-richest across the U.S.
10 Richest Congressional Districts
Congressional districts across the U.S. are ranked by the highest percent of tax returns with an AGI of $200,000 or more.
California – 18th District (San Benito County and parts of Santa Clara and Monterey counties)
Percent of households earning $200,000 or more: 33.5%
Percent of households earning $200,000 to $500,000: 18.7%
Percent of households earning $500,000+: 14.8%
Average AGI of all households: $475,894
Number of tax returns earning $200,000 to $500,000: 66,000
Number of tax returns earning $500,000+: 52,320
Total tax returns: 353,590
California – 17th District (Parts of Alameda and Santa Clara Counties)
Story continues
Percent of households earning $200,000 or more: 27.7%
Percent of households earning $200,000 to $500,000: 19.0%
Percent of households earning $500,000+: 8.7%
Average AGI of all households: $201,128
Number of tax returns earning $200,000 to $500,000: 71,010
Number of tax returns earning $500,000+: 32,480
Total tax returns: 374,220
California – 33rd District (Part of San Bernardino County)
Percent of households earning $200,000 or more: 25.4%
Percent of households earning $200,000 to $500,000: 16.3%
Percent of households earning $500,000+: 9.1%
Average AGI of all households: $312,437
Number of tax returns earning $200,000 to $500,000: 58,760
Number of tax returns earning $500,000+: 33,040
Total tax returns: 361,570
New York – 12th District (Parts of Manhattan in New York City)
Percent of households earning $200,000 or more: 22.0%
Percent of households earning $200,000 to $500,000: 14.1%
Percent of households earning $500,000+: 7.8%
Average AGI of all households: $327,479
Number of tax returns earning $200,000 to $500,000: 60,980
Number of tax returns earning $500,000+: 33,810
Total tax returns: 431,600
California – 12th District (Part of Alameda County)
Percent of households earning $200,000 or more: 21.6%
Percent of households earning $200,000 to $500,000: 14.5%
Percent of households earning $500,000+: 7.1%
Average AGI of all households: $259,868
Number of tax returns earning $200,000 to $500,000: 56,360
Number of tax returns earning $500,000+: 27,390
Total tax returns: 387,640
California – 15th District (Parts of San Francisco and San Mateo Counties)
Percent of households earning $200,000 or more: 21.1%
Percent of households earning $200,000 to $500,000: 16.0%
Percent of households earning $500,000+: 5.2%
Average AGI of all households: $156,200
Number of tax returns earning $200,000 to $500,000: 59,650
Number of tax returns earning $500,000+: 19,360
Total tax returns: 373,960
Virginia – 10th District (Rappahannock, Fauquier and Loudoun Counties, parts of Fairfax and Prince William Counties, and cities of Manassas and Manassas Park)
Percent of households earning $200,000 or more: 20.6%
Percent of households earning $200,000 to $500,000: 16.9%
Percent of households earning $500,000+: 3.6%
Average AGI of all households: $160,081
Number of tax returns earning $200,000 to $500,000: 72,920
Number of tax returns earning $500,000+: 15,680
Total tax returns: 430,250
California – 14th District (Part of Alameda County)
Percent of households earning $200,000 or more: 20.2%
Percent of households earning $200,000 to $500,000: 13.6%
Percent of households earning $500,000+: 6.6%
Average AGI of all households: $210,272
Number of tax returns earning $200,000 to $500,000: 49,930
Number of tax returns earning $500,000+: 24,360
Total tax returns: 367,540
New York – 10th District (Parts of Manhattan and Brooklyn in New York City)
Percent of households earning $200,000 or more: 19.8%
Percent of households earning $200,000 to $500,000: 12.2%
Percent of households earning $500,000+: 7.6%
Average AGI of all households: $325,341
Number of tax returns earning $200,000 to $500,000: 47,520
Number of tax returns earning $500,000+: 29,390
Total tax returns: 388,540
Washington – 7th District (Part of King County)
Percent of households earning $200,000 or more: 19.8%
Percent of households earning $200,000 to $500,000: 14.8%
Percent of households earning $500,000+: 5.0%
Average AGI of all households: $179,004
Number of tax returns earning $200,000 to $500,000: 62,340
Number of tax returns earning $500,000+: 20,950
Total tax returns: 420,820
Data and Methodology
To determine the richest congressional districts, SmartAsset examined the latest IRS data available (2021 tax year). Rich households are defined as those with adjusted gross incomes of $200,000 or more, which the IRS deems as the threshold for “high earners”. The average AGI for all households, as well as the share of households earning over $500,000, was also examined.
Questions about our study? Contact us at [email protected]
Photo credit: ©iStock.com/photovs
The post America’s Richest Congressional Districts – 2024 Study appeared first on SmartReads by SmartAsset.
Author :
Publish date : 2024-10-19 03:48:00
Copyright for syndicated content belongs to the linked Source.
Author : theamericannews
Publish date : 2024-10-20 04:26:16
Copyright for syndicated content belongs to the linked Source.