California is not just the wealthiest state in the USA but also ranks as one of the largest economies in the world, just by itself. Only a few people, in the most remote corners of the world, have never heard of this most popular state. From Hollywood, to finance, to real estate, there is a lot of money to be made in California. If you have ever wondered what the richest cities in California are, we have the list for you:
Just north of the border with Mexico, you will find the beautiful coastal city of San Diego. The city has a diverse and successful economy, due to the tech industry, the port, and defense. With large Navy and Marine bases, San Diego ranks as one of the most strategically important cities in the United States, and the defense industry brings in a lot of money and people to the area. On top of that, the California tech boom did not go past San Diego and there are many interesting and successful start-ups and larger companies based out here. The tourism industry is also worth mentioning, with tens of millions of people visiting every year, a lot of revenue and employment opportunities are being generated.
San Jose is one of the most important political and economic areas of Northern California and the United States. The San Jose Metropolitan Area is the home of many millionaires and billionaires and has the highest median house price in the USA. The main economic driving force behind this wealth is Silicon Valley, the world-famous conglomeration of technology-based companies that are some of the world’s largest. Companies like CISCO, Paypal, Adobe, and eBay all provide a lot of employment, high salaries, and tax revenue to the city. This all leads to the aforementioned increase in house prices and general cost of living, but people seem to be happy to pay a premium to get a slice of the Silicon Valley pie.
Speaking of Silicon Valley, San Francisco cannot be neglected. The San Jose–San Francisco–Oakland area has a higher GDP than most European countries and is notorious for high prices, high salaries, and for being the crib of many of the world’s largest companies. Apple, Google, Facebook, and Twitter all have large offices here and pay their employees very well. On top of the tech world, there is a very developed financial industry in San Francisco. It has been called the Wall Street of the West and is the home of Wells Fargo. Once again, it is worth pointing out that there is a pretty significant tourism industry, due to the city’s iconic architecture and characteristics. There aren’t many places in the US, as recognizable as San Francisco.