Some US cities See the average Millennial earn 40% more than other Local Households

Millennial earnings premium: Top cities for high earners in 2025

Millennials, now squarely in their prime working years, earn an average premium of 8.8% across large U.S. cities, outpacing the local median earnings of all households. However, supply and demand for labor — generally dictated by the alignment between local industry dynamics and resident qualifications — can have a large impact on the earnings, with some cities seeing the average Millennial earn 40% more than other local households. Then again, Millennials in other cities are having a tough time even breaking even with the median household income.

For Millennials, earnings premiums are of high importance at this juncture in their career, particularly as many are now raising young families. With this in mind, SmartAsset ranked 357 of the largest U.S. cities based on how much more, or less, Millennials are earning relative to all locals.

Key Findings

• Millennials earn 42% more than all households in Jersey City, NJ. The median Millennial household earns $143,500 in Jersey City, compared to a median $100,751 across households of all ages. Millennials in Jersey City are able to take advantage of high incomes just across the river in New York City, while avoiding additional taxes faced by their Big Apple counterparts.
• Millennials also earn big in many California and Massachusetts cities. 60% of the top 10 cities for Millennial earnings are in these two states. In California, Berkeley ranks second overall with a 41.7% earnings premium for Millennials ($146,987 median Millennial earnings), while Massachusetts ranks 3rd with a 38.2% earnings premium for Millennial households ($140,661 income). Also among the top 10 are San Francisco, CA (5th); Brockton, MA (8th); New Bedford, MA (9th); and Jurupa Valley, CA (10th).
• The median Millennial household earns over $200,000 in three cities. Sunnyvale, CA has the highest median income across all households and specifically Millennial households — with Millennials earning $234,577 compared to $181,022 total, or a 29.6% premium for Millennials. Millennials in Santa Clara earn $216,088 annually (19.6% premium), and those in San Mateo earn $201,857 (24.5% premium).
• In 10% of cities, Millennials earn less than the overall median income. Despite this cohort’s positioning in their prime working years, 37 cities had a negative earnings premium for Millennials. These include Lafayette, LA (-14.8%); Jackson, MS (-13.5%); Santa Maria, CA (-12%); Sandy Springs, GA (-9.6%); Pearland, TX (-9.5%); West Covina, CA (-9.4%); Carmel, IN (-8.5%); Pasadena, TX (-7.5%); St. George, UT (-7.1%); and Daly City, CA (-7.1%).

Top 20 Cities With the Biggest Millennial Earnings Premiums

Cities are ranked based on the Millennial earnings premium: The difference between the median income for Millennial households and all households.

1. Jersey City, New Jersey

• Millennial earnings premium: 42.43%
• Median Millennial household income: $143,500
• Median household income, all ages: $100,751

2. Berkeley, California

• Millennial earnings premium: 41.71%
• Median Millennial household income: $146,987
• Median household income, all ages: $103,727

3. Quincy, Massachusetts

• Millennial earnings premium: 38.21%
• Median Millennial household income: $140,661
• Median household income, all ages: $101,775

4. Lakeland, Florida

• Millennial earnings premium: 35.83%
• Median Millennial household income: $86,739
• Median household income, all ages: $63,859

5. San Francisco, California

• Millennial earnings premium: 34.73%
• Median Millennial household income: $188,353
• Median household income, all ages: $139,801

6. Hartford, Connecticut

• Millennial earnings premium: 32.40%
• Median Millennial household income: $66,752
• Median household income, all ages: $50,418

7. Edinburg, Texas

• Millennial earnings premium: 32.23%
• Median Millennial household income: $79,139
• Median household income, all ages: $59,851

8. Brockton, Massachusetts

• Millennial earnings premium: 31.07%
• Median Millennial household income: $98,579
• Median household income, all ages: $75,210

9. New Bedford, Massachusetts

• Millennial earnings premium: 30.56%
• Median Millennial household income: $74,730
• Median household income, all ages: $57,240

10. Jurupa Valley, California

• Millennial earnings premium: 30.21%
• Median Millennial household income: $123,627
• Median household income, all ages: $94,942

11. Sunnyvale, California

• Millennial earnings premium: 29.58%
• Median Millennial household income: $234,577
• Median household income, all ages: $181,022

12. Boulder, Colorado

• Millennial earnings premium: 29.43%
• Median Millennial household income: $111,004
• Median household income, all ages: $85,761

13. New York, New York

• Millennial earnings premium: 29.35%
• Median Millennial household income: $105,071
• Median household income, all ages: $81,228

14. Riverview, Florida

• Millennial earnings premium: 29.09%
• Median Millennial household income: $122,727
• Median household income, all ages: $95,074

15. Boston, Massachusetts

• Millennial earnings premium: 28.53%
• Median Millennial household income: $125,687
• Median household income, all ages: $97,791

16. New Haven, Connecticut

• Millennial earnings premium: 28.26%
• Median Millennial household income: $76,579
• Median household income, all ages: $59,705

17. Miami, Florida

• Millennial earnings premium: 28.18%
• Median Millennial household income: $85,031
• Median household income, all ages: $66,337

18. St. Louis, Missouri

• Millennial earnings premium: 28.07%
• Median Millennial household income: $68,355
• Median household income, all ages: $53,374

19. Cape Coral, Florida

• Millennial earnings premium: 28.05%
• Median Millennial household income: $109,591
• Median household income, all ages: $85,584

20. Pittsburgh, Pennsylvania

• Millennial earnings premium: 27.42%
• Median Millennial household income: $85,311
• Median household income, all ages: $66,954

21. Glendale, California

• Millennial earnings premium: 27.18%
• Median Millennial household income: $113,256
• Median household income, all ages: $89,055

22. Lansing, Michigan

• Millennial earnings premium: 27.02%
• Median Millennial household income: $70,325
• Median household income, all ages: $55,366

23. Spring Hill, Florida

• Millennial earnings premium: 26.84%
• Median Millennial household income: $90,397
• Median household income, all ages: $71,269

24. Ventura, California

• Millennial earnings premium: 26.70%
• Median Millennial household income: $129,534
• Median household income, all ages: $102,238

25. Lee’s Summit, Missouri

• Millennial earnings premium: 26.35%
• Median Millennial household income: $129,959
• Median household income, all ages: $102,857

Data and Methodology

Data comes from the U.S. Census Bureau 1-Year American Community Survey for 2024. The median household income for households where the main householder is aged 25 to 44 is compared to the median household income across all households to determine the Millennial earnings premium. Data for 357 U.S. cities with a population over 100,000 was evaluated.

This story was produced by SmartAsset and reviewed and distributed by Stacker.