The $100K Club

socal78

socal78

Well-known member
The $100K Club: America's Highest Earning Cities

"There are 16 cities in the United States where more than 50% of the households in the city earn over $100,000 per year.  California and Texas dominate this list of high-earners.  Most of these cities are well-to-do suburbs of larger metro areas, including the Dallas-Fort Worth area, San Francisco, Atlanta and Chicago.  Does your city make the list?"

#4: Yorba Linda, CA - the top-ranking Southern CA city and 1 out of only 2 in the area.

#11: John's Creek, GA - Paging Baby Irvine!!

#14: Lake Forest, CA - this may be the one time I'll fess up to living in Lake Forest vs. "F.R." Just kidding.

Sorry, Irvine. You did not make the cut! I was a little bit surprised. This could make an interesting thread if you want to discuss why Irvine fell short... unreported income?... a high percentage of renters and affordable housing?

For the full list of cities, click here:http://www.nerdwallet.com/blog/2013/100k-club-americas-highest-earning-cities/





 
P.S. In case anyone is wondering where the data came from, they used census data from 562 large cities nation-wide.

Some cities, such as Villa Park, are absent due to too small of a population to be included in the study. Source.

 
What's funny is back in the IHB days, average income is what the bulls would use as evidence that Irvine is over inflated.

When I would explain that census data is inaccurate due to the foreign presence, student population and retirees... I was ignored. So easy to look the other way when you need to prove a point.
 
irvinehomeowner said:
So easy to look the other way when you need to prove a point.
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I don't know if you mean me, but I'm not trying to look the other way or prove anything. The article popped up in my Facebook news feed and I thought it would be fun to share on this boring day especially 'cause it has Johns Creek in it - this one is for Baby Panda. When I clicked it, I kind of expected to see Irvine in the list but then again, not too shocked it isn't considering residents are a mixed bag plus overseas money and cash-only businesses.
 
Cubic Zirconia said:
Lake Forest is also one of the safest cities? (don't know if it's only for businesses)
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Yup. But not sure what you mean "also".

Neighborhood Scout put out their 2013 list of America's 100 safest cities.http://www.neighborhoodscout.com/neighborhoods/crime-rates/top100safest/

L.F. is #62. Irvine is not on the list.

The good news for Irvine is the city did make the list the previous year... at #100. Safest Cities in 2012.

Last year when the L.A. times ran the article about Irvine being the safest city in America, that was only ranking cities with a pop. over 100k. so it was the safest "big" city. L.F. has approx 77k.

I'm sure there's a Safety thread already on the forum if we want to post about safety.
 
SoCal,
You need to keep Johns Creek low profile until I'm done buying my 10 rentals there :) Our flagship high school, Northview ranks higher than Uni High and real estate is 1/3 the price of Irvine. The wealthy asian population is exploding here like Diamond Bar in the 1980s and Irvine in the 1990s just like i predicted. Even a monkey like IHO can figure out that prices here are going to explode here. Forget investing in Gold, Euro, or the dollar... Panda is going all in on Johns Creek real estate.

<< See my Avitar Irvine ad in 1997. These are the new home ads and prices I see in Johns Creek today. :)

 
Baby Irvine said:
SoCal,
You need to keep Johns Creek low profile until I'm done buying my 10 rentals there :) Our flagship high school, Northview ranks higher than Uni High and real estate is 1/3 the price of Irvine. The asian population is exploding like Diamond Bar in the 1980s and Irvine in the 1990s. Even a monkey like IHO can figure out that prices here are going to explode here. Forget investing in Gold, Euro, or the dollar... Panda is going all in on Johns Creek real estate.
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Prices going up everywhere...including Irvine, Vegas and Phoenix.  Johns Creek doesn't have what Irvine has....FCBs....if it did then prices will go up to another level.  So you don't want to diversify?  Btw, how are you going to buy your 6-10th home?  Lenders make a awfully difficult to finance a 6th property (speaking from experience). 
 
I am being a little sarcastic, but seriously this place has changed so much since i moved here. Even the K-Town here is completely being renovated with super nice cafes and new Korean shopping centers. I now can understand why this area is becoming the new Asian mecca. Even my wife was commenting that this place is really starting to look like LA.

I am in contract for property #6 and i have a lender where i can get up to 10 mortgages with 25% down. You just need 6 month reserves for each investment property you own. If the banks shut me out.. I have no choice but to buy with cash. Johns Creek has no FCBs? Are you kidding? Only if you knew... my 45 year old chinese neighbor reminds me of IrvineMike who bought a Sonoma (2010 Woodbury Collection). He is married to a Chinese sugar mamma. His in-law wrote $1.2M to his wife's name and bought 4 - $300,000 brand new townhomes in Sandy Springs to rent for $3000/month. I told my chinese neighbor that i can't compete with that :)

USCTrojanCPA said:
Baby Irvine said:
SoCal,
You need to keep Johns Creek low profile until I'm done buying my 10 rentals there :) Our flagship high school, Northview ranks higher than Uni High and real estate is 1/3 the price of Irvine. The asian population is exploding like Diamond Bar in the 1980s and Irvine in the 1990s. Even a monkey like IHO can figure out that prices here are going to explode here. Forget investing in Gold, Euro, or the dollar... Panda is going all in on Johns Creek real estate.
Click to expand...
Prices going up everywhere...including Irvine, Vegas and Phoenix.  Johns Creek doesn't have what Irvine has....FCBs....if it did then prices will go up to another level.  So you don't want to diversify?  Btw, how are you going to buy your 6-10th home?  Lenders make a awfully difficult to finance a 6th property (speaking from experience). 
Click to expand...
 
One more thing.. I think if you are serious about investing... everyone should get their broker license. It was definitely a good decision for me and I will continue to renew both my GA and CA licenses.

The 3% you get back in closing covers your entire closing costs and any amount left over, you bring that much less to the closing table. If you are dealing with a lot of investment properties that 3% becomes a large number when you buy or sell. If you are considering getting a broker license for investing purposes.. I highly recommend it.

No offense Trojan, but being a buyer's agent really sucks. In order not to work weekends, evening, have maximum leverage, and have a better quality of life become an expert in listings and become the Michael Dunn of your hood.
 
The California Court Company said:
Irvine has a lot of apartment and low income housing residents. that's probably why Irvine is not on the list.
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Doesn't Irvine Co. have high income standards their rentals?  Also, their rentals are much more expensive that neighboring cities for the same property.  These stats just don't make sense to me.  When I was leasing my 3/3 condo, everyone applying for the property was making >100k.  Seemed like a dime a dozen.
 
Hey homer,
I am not sure if you are asking about Johns Creek or Atlanta in general. Johns Creek and the surrounding area (Milton, Alpharetta etc) is more like Orange County where as Atlanta (Dunwoody, Buckhead, Sandy Springs) is more like LA. The weather here is surprising very nice. It does get hot and humid during the summer, but nothing like Dallas hot. The winters are nice with no snow.

It does get a little materialistic here with beemers, benz, jags all over the place, especially the Koreans in JC,  but again it is the south... so it is a bit more innocent than LA.
JC is a lot of like Irvine, where the roads are clean, safe, manicured, good schools, lot of private golf courses. I also see a lot of fortune 500 companies locating here from the north. It is just an ideal place to raise a family in a good environment.

We just bought a brand new XLE Toyota Sienna with all the bells and whistles for $30k out the door. Every time my wife and I drive the van, we are so happy about the purchase and it is worth every penny. I guess you appreciate it more and more on long road trips to Pensacola Beach, FL and Kawaiah Island, SC. On the other hand, if you buy a brand E class mercedes for $70,000 out the door. The value drops $30k within couple of weeks. You pay $30k premium to drive the Mercedes brand. Indirectly, the lifestyle of Johns Creek is like the Toyota Sienna and Irvine is like that brand new Mercedes E Class. Both of mom and sister didn't have have much of an impression of Atlanta until they visited me. They now love Johns Creek.

Pleasant Hill and Buford Highway is like Wilshire Blvd and Olympic LA K-Town. The K-Town here is growing very fast and it is new and clean. It is a lot like what LA K-Town would have looked like the 80s. You can pretty much get any authentic ethnic food you can think of here. Around 30% of Johns Creek is not made of Asians where as that number was only 13% 6 years ago. The Asian community here is vibrant and growing very fast.
 
Iho, I felt like an fcb when I swiped $30k on my delta american express card for 30k mileage points. Haha. The power of buying with cash.
 
If Buckhead is known as the Beverly Hills of GA, and Johns Creek is the Irvine of GA, than Sea Island is surely the Newport Beach of GA. Homes near the coast cost upwards of $10 mil and ppsf is comparable to Newport Coast.. no joke. Sea Island is the hidden jewel of Georgia.

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