The median household income in a San Joaquin Valley city fell by more than $10,000 last year, making it one of the top places nationally to see a sharp drop in income.
Madera, a city northwest of Fresno, had a median household income of $67,454 in 2022. That dropped to $55,622 last year, according to a study by SmartAsset.
The consumer finance website ranked 630 U.S. cities by the largest percentage decline in median household income between 2022 and 2023, based on data from the U.S. Census Bureau. The study comes as the Census Bureau reported in September that the median U.S. household income was $80,610 last year, up 4% from 2022. The Economic Policy Institute said falling inflation, millions of additional jobs and a increases in wages are responsible for the increase. .
However, SmartAsset’s research shows that not all households experienced an increase in median income last year.
Which cities in California experienced a decline in median household income?
According to SmartAsset, Madera experienced the third largest decline in median household income among the cities analyzed, at -17.54%. Cities were ranked based on percentage change.
The central California city follows Marysville, Washington and Champaign, Illinois. Madera also saw a decline in the number of households making $100,000 or more during the same period, from about 30% to 23.6%. Still, the percentage of households earning $200,000 or more in Madera grew slightly from 3.8% in 2022 to 4% last year, according to SmartAsset.
Madera isn’t the only city in California where the average household income is falling. Here are 10 California cities that ranked high for declines in income.
Union City, No. 5
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Median income in 2022: $148,460
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Median income in 2023: $124,383
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Change in income: −16.22%
Merced, No. 6
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Median income in 2022: $64,160
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Median income in 2023: $53,931
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Change in income: −15.94%
Palmdale, No. 16
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Median income in 2022: $90,330
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2023 average income: $78,743
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Change in income: −12.83%
Clovis, no. 23
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Median income in 2022: $100,399
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Median income in 2023: $88,828
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Change in income: −11.53%
Hawthorne, No. 24
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Median income in 2022: $73,515
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Median income in 2023: $65,166
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Change in income: −11.36%
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Rocklin, No. 27
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Median income in 2022: $119,436
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Median income in 2023: $106,408
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Change in income: −10.91%
Carlsbad, No. 30
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Median income in 2022: $146,596
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Median income in 2023: $131,257
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Change in income: −10.46%
Antioch, no. 42
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Median income in 2022: $100,178
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Median income in 2023: $91,256
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Change in income: −8.91%
Hesperia, no. 43
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Median income in 2022: $73,821
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Average income in 2023: $67,348
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Change in income: −8.77%
San Leandro, no. 45
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Median income in 2022: $92,651
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Median income in 2023: $84,657
Paris Barraza is a trending reporter covering California news at The Desert Sun. Reach her at pbarraza@gannett.com. Follow her on Twitter @ParisBarraza.
This article originally appeared on Palm Springs Desert Sun: Median household income in these California cities fell in 2023
