Hometown Glory
Money town: Houston the fifth wealthiest city in the country
Our stocks may be down, but our personal income here in Houston is high, according to new information released Tuesday by the U.S. Bureau of Economic Analysis.
In fact, H-Town ranks fifth in the country when it comes to personal income with a total personal income of $281.8 billion in 2010. New York ($1.1 trillion), Los Angeles ($565 billion), Chicago ($435 billion) and Washington D.C. ($323 billion) are the first four cities on the list. Philadelphia ranks just behind Houston in sixth with $281.5 billion in total personal income.
Total personal income is defined by the study as the income received by all people from all sources in a given year — including income from wages, social security, interest payments and other sources.
The figures reflect growth from 2009 to 2010, when the total personal income for Houstonians increased by 3.1 percent. Personal income only increased 2.4 percent in Chicago over that same time period. (Houston's total personal income dipped by 2.6 percent percent from 2008 to 2009 and Houston ranked No. 7 in total personal income among the metropolitan areas surveyed last year.)