Phoenix is among the Top 20 cities in the U.S. in an increase in median household income from 2023 to 2024, according to a report released this week by SmartAsset, an online destination for consumer-focused financial information and advice.

Phoenix ranked 18th, showing a 7.01% increase in household income, up from $79,664 in 2023 to $85,246 in 2024. The median family household income went up 8.83% to $91,106, and the senior household income increased by 8.88% to $62,012.

Tampa, Florida was the No. 1 ranked city for income growth at 15.46%.

“Most cities saw a reasonable increase in median incomes, giving households an opportunity to keep up with costs and add to savings or reduce debt,” said Jaclyn DeJohn, director of economic analysis with SmartAsset. “In a few cases, however, income gr

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