Bloomberg: Boston the Fifth-Richest City in U.S.

by Jed Kolko

Boston from above iStock_000013984700_MediumA new study from Bloomberg Business has rated Boston as the fifth-richest city in the U.S.

The gross metropolitan product per resident in Boston, according to Bloomberg, was $74,746.  Boston’s biotech industry has greatly impacted the city’s gross metropolitan product, or GMP. Since 2008, Boston raised two places on Bloomberg’s list and Portland, Oregon raised six spots. The survey compared statistics from the U.S. Bureau of Economic Analysis on 100 of the largest metropolitan statistical areas in the U.S.

The GMP rising numbers is attributed to the increase in the number of educated workers. In the Silicon Valley, the GMP was double of the national average with $105,482. Bridgeport, Connecticut came in second with $94,349. Other prosperous tech areas outside of the Bay affected by the industry boom have been helped by the success of websites such as Amazon and Zulily. Since 2009, Seattle’s GMP per capita grew by a cumulative 7.9 percent. Below is a chart of Bloomberg’s full rankings:

20 Rich U.S Cities


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