Nielsen Wire, a useful and free source of research data, has an interesting article on the 10 U.S. counties with the highest percentage of what they call "young money" - those aged 25-34 earning $100k or more.
The data in the article highlights two trends. First, it illustrates the growing importance of Washington D.C. as an economic center. 16 of the top 50 counties with the highest concentration of the young moneyed are in the Washington D.C. area.
The other cities with a major presence on the list are San Francisco, New York and Chicago. In absolute numbers, New York county has the largest total number of those aged 25-34 making more than $100k (768,000) and San Francisco county is second with 332,000.
The second trend is what the article calls "the densification" of young money in major metropolitan areas. This means young people making $100k or more are increasing found in or near urban centers.
This trend has been known for awhile, with Richard Florida's book Who's Your City covering it in detail. Florida also has a blog called Creative Class that also covers this and related topics.
As an aside, I think "densification" is a cool word.
Interesting Trends.
With the power of the Internet, The playing field has been leveled for Entrepreneurs of any age that even young teenagers can become successful.
Seeking to gain more Knowledge and the Use of is all that really counts these days.
Posted by: RedHotFranchises | September 16, 2009 at 03:38 AM
Once you factor in for cost of living, you aren't really talking about "young and moneyed" any longer, just "young".
Posted by: Sean | September 16, 2009 at 11:37 AM
Sean: Great point. I live in the San Fransisco area and am just old.
Posted by: Steve King | September 16, 2009 at 11:49 AM
Wow. Really fascinating trend. DC is really on the up. I'll be keeping an eye on the small businesses around there...
Posted by: Donald Cranford | September 17, 2009 at 03:50 AM