Mar 4, 2024 - News

Cleveland's income inequality gap is ninth in nation

Illustration of a woman on a small stack of money next to a woman on a much larger stack of money

Illustration: Sarah Grillo/Axios

Households in Cleveland that bring in more than $115,915 in annual salary are in the top quintile (top 20%) of local earners.

Why it matters: That's 5.5 times more than the bottom quintile — households earning less than $21,102 per year — giving Cleveland one of the largest income inequality gaps in the county, according to a new report.

By the numbers: Cleveland ranked ninth nationally on the list published by financial technology firm Smart Asset, first reported locally by Crain's.

  • New Orleans was first in the nation, followed by Boston, Newark, Jersey City, Atlanta, New York City, Memphis and Detroit.

Zoom in: Cleveland was the highest ranked Ohio city, though Cincinnati was 12th.

The fine print: 98 cities were surveyed, with data from the University of Wisconsin's County Health Rankings & Roadmaps.

Go deeper: Cleveland's wealth gap is even more pronounced when disaggregated by race.

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