The average income for the top 5% of households in Seattle was $744,000 in 2023. This figure represents the mean earnings for the wealthiest tier of households in the city, providing insight into the economic landscape of Seattle's high-income bracket.
Understanding Seattle's Top Income Tier
In Seattle, the "top 5% income" refers to the average income of the approximately 18,000 households that constitute the highest-earning segment of the population. This metric, calculated by organizations like the Census Bureau, offers a clear picture of wealth concentration within the metropolitan area.
Key findings regarding this tier include:
- Average Income: In 2023, the average income for the top 5% of households in Seattle reached $744,000.
- Historical Growth: This amount signifies a substantial increase of $148,000 compared to the average income for this group in 2019, indicating rapid financial growth among Seattle's highest earners post-pandemic.
- Household Count: This elite income bracket encompasses around 18,000 households, demonstrating the considerable number of families achieving significant wealth in the city.
The substantial increase in the average income for Seattle's top 5% of households underscores a significant trend in the city's economic landscape. This growth highlights the increasing concentration of wealth and reflects a widening gap in income distribution, as new data indicates that income inequality has grown in Seattle since the pandemic.
Key Statistics on Seattle's Top 5% Income
For a comprehensive overview, here are the core statistics concerning the top 5% income in Seattle:
| Metric | Value | Year |
|---|---|---|
| Average Income (Top 5% H.H.) | $744,000 | 2023 |
| Increase from 2019 | +$148,000 | - |
| Estimated Households in Top 5% | ~18,000 | - |
These statistics provide crucial insights into the financial dynamics of Seattle, particularly regarding the economic prosperity experienced by its highest-earning households.
