A tale of two cities: How the average income jumped 31% in California’s San Bernardino but plummeted nearly 10% in Louisiana’s Baton Rouge – so how does YOUR local area compare?

Incomes in San Bernardino, California, rose by a whopping 31.3 percent from 2019 to 2021, but in Baton Rouge, Louisiana, they fell by 9.6 percent.

The stark difference comes to light in a study that tracked how median incomes in America’s largest cities changed over the period — highlighting how some areas enjoyed a period of impressive growth while others declined.

San Bernardino, where median income reached $65,311 after the city had the largest percentage increase in the nation, was closely followed by Huntsville, Alabama, where incomes rose 30.21 percent, the SmartAsset study found.

Rounding out the top five were Moreno Valley, California (21.99 percent), Winston-Salem, North Carolina (21.65 percent), and Toledo, Ohio (20.27 percent).

Baton Rouge fared the worst after median income fell from $45,819 to $41,257.

In San Bernardino, median income was $65,311 after the largest percentage increase in the country between 2019 and 2021

Baton Rouge fared worst after median income fell from $45,819 to $41,257

There were also declines in some of America’s most affluent cities. New York City’s median income fell 2.03 percent from $69,407 to $67,997, while in San Francisco, earnings fell from $123,859 to a still-desirable $121,826, a drop of 1.69 percent.

Researchers looked at cities with populations of 200,000 or more and used income data from the annual American Community Survey, which is conducted by the US Census Bureau.

The SmartAsset report said, “Overall, median US earnings rose just 3 percent in two years, but some cities saw income growth as high as 10 times.

“While such differences could be due to a variety of causes, the residents of these cities had economic winds to help them through recent increases in the cost of living.”

The findings come as the cost of living in the U.S. continues to rise, thanks in part to rampant inflation — and because wages for many are not growing with rising costs, rental growth is outpacing income increases across the country — contributing to the financial problems. put pressure on tenants.

Average rents have risen 134.9 percent since 1999, while incomes have risen 76.8 percent over the same period, Moody’s Analytics data showed in May.

The Moody’s Analysis showed that by 2022, the share of U.S. household income needed to rent a mid-priced apartment will exceed 30 percent for the first time in 25 years of tracking the trend. The benchmark, called rent-to-income ratio (RTI), fell slightly to 29.6 percent at the beginning of 2023.

A study by Moody’s Analytics found that seven metropolitan areas have average rent costs that are at least 30 percent of the median salary, increasing the cost of living for renters

Separate research by Refin found that only four metropolitan areas in the country have average mortgage prices below average rents. The four areas where mortgages are highest compared to rents are all in California

There are now seven metropolitan areas in the country where RTI is over 30 percent:

• Los Angeles: 36% RTI; average rent $2,456
• Miami: 42% RTI; average rent $2,141
• Palm Beach: 34% RTI; average rent $2,051
• Fort Lauderdale: 37% RTI; average rent $2,108
• New York: 68% RTI; average rent $4,334
• Boston: 33% RTI; average rent $2,948
• Northern New Jersey: 33% RTI; average rent $2,416

Separate research Redfin found that there are only four major metropolitan areas where estimated monthly mortgage costs are less than estimated monthly rental costs.

In Detroit, Michigan, mortgages are about 24 percent lower than rents. In Philadelphia, Pennsylvania, the difference is 6.6 percent.

In Cleveland, Ohio, the average mortgage is 3.9 percent cheaper and in Houston, Texas, 1.2 percent.

At the other end of the scale, the four places where mortgages are highest compared to rents are all in California.

In San Jose, the median mortgage of $11,049 is a whopping 164.6 percent more than the median rent of $4,176.

In San Francisco, the median mortgage is $10,892, compared to the median rent of $4,552 — a difference of 139.3 percent.

In San Jose, the median mortgage of $11,049 is a whopping 164.6 percent more than the median rent of $4,176

In San Francisco, the median mortgage is $10,892, compared to the median rent of $4,552 — a difference of 139.3 percent

In Cleveland, Ohio, the average mortgage is 3.9 percent cheaper than the average rent

That’s followed by Oakland, where rents average $3,700 but mortgages $7,376 — a 99.4 percent difference.

And in Anaheim, the difference is 91.5 percent — with mortgages averaging $7,892, while rents are $4,122.

Taylor Marr, Redfin’s deputy chief economist, said: ‘Buying a home often makes more financial sense than renting if you can afford a down payment and monthly mortgage because you’re building equity.

“If you own your house, your house pays you; when you rent, you and your home pay to your landlord

‘But buying is not feasible for everyone. Some people move around a lot, so renting may make more sense because they won’t be living in their home long enough to build equity.

“Many others simply don’t have the money for a down payment – a situation that is becoming more common due to rising mortgage rates and high house prices.”