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Palo Alto among highest concentration of wealthy households

The U.S. Census Bureau reported that Silicon Valley had the second highest concentration of wealthy households in a metropolitan area from 2007 to 2011. Palo Alto is included in a statistical area that covers Sunnyvale, San Jose and Santa Clara.

The report stated that 15.9 percent of homes in this Northern California tech haven are among the top five percent of the nation’s income earners—those with at least $191,469 annual incomes. The area of Bridgeport, Stamford and Norwalk in Conn. took the top spot with 17.9 percent of households in the nation’s top earning tier.

The same report also listed the metropolitan area of San Francisco, Oakland and Fremont as the fourth highest concentration of wealthy households in the nation, with 13 percent of homes in the top bracket.

The data came from the American Community Survey results on income received from January 2006 to November 2011, according to the bureau’s report.

About Ileana Najarro

Ileana Najarro is the Managing Editor of News at The Stanford Daily. She previously worked as a News Desk Editor and Staff Writer.