Income of Seattle’s highest-earning households is growing faster than any other major city in U.S.

By Seattle Business Magazine April 7, 2015

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Seattles wealthiest are getting richer faster than the wealth in any other city in America. In 2013, it took an income of $278,084 to be among the top five percent of households in Seattle. That was up 14.9 percent from $241,944 the year before. Meanwhile, the poorest 20 percent of the households in the city saw their income grow by just 1.1 percent to $26,700. That pushed Seattle up to being the 18th most unequal city in the country by income, up from 31st in 2013.

Expect that to get worse in 2014 and 2015. While an increase in the minimum wage could help some households, the increase will be modest. Meanwhile, as tech companies continue to bring more well-paid employees into the city, the ranks of the wealthy will continue to rise.

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