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Baltimore Ranked No. 3 for Per Capita Income Growth

Tuesday, October 19, 2010

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Baltimore ranks No. 3 in the nation for per-capita income growth, according to a new study released by Portfolio.com, the national business news site for small and mid-sized business (SMB) executives.

The latest U.S. Uncovered study ranks U.S. cities with the highest income growth. The study, which looked at the nation's top 100 metropolitan areas, analyzed 25 years of federal income data to calculate how income level growth compares across the nation. El Paso, TX took the top spot, with a 147 percent increase in income levels over the past 20 years, followed by Baton Rouge, LA.

The study used a 25-part formula to analyze the consistency and strength of per capita income (PCI) growth in each market. The formula compared each area's growth rates against the U.S. averages for 25 different time spans, yielding an overall score for income growth. All 25 spans ended in 2009, ranging in length from 25 years (1984-2009) to a single year (2008-2009).

The study put Baltimore's income growth index at 36.12. The city's per-capita income in 2009 was $47,962. The 25-year income growth rate, from 1984 to 2009, was 216.4 percent. The 20-year income growth rate, from1989-2009, was 132.1 percent. The 15-year income growth rate, from 1994 to 2009, was 95 percent. The 10-year income growth rate, from 1999 to 2009, was 52.3 percent, while the 5-year income growth rate, from 2004-2009, 19.3 percent.

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