The Grand Rapids-Wyoming metropolitan statistical area tied for No. 24 on SmartAsset's "Places Where Residents Invest the Most" list. Courtesy Experience Grand Rapids
The Grand Rapids-Wyoming metropolitan statistical area has been listed among U.S. cities where residents are racking up the most investment income.
SmartAsset published its second annual study, “Places Where Residents Invest the Most,” and the 2020 edition reports Grand Rapids-Wyoming tied for No. 24, with an index score of 69.73, alongside Dallas-Fort Worth-Arlington, Texas; Houston-The Woodlands-Sugarland, Texas; and Jacksonville, Florida.
The study compared 100 of the largest metro areas in the U.S. across three metrics: investment income as a percentage of overall income, percentage of tax returns with capital gains income and average investment income as a percentage of annual housing costs.
To create the final rankings, each metro area was ranked across every metric with equal weighting.
The area’s average ranking was then used to determine a final score. The metro area with the highest average ranking received a score of 100. The metro area with the lowest average ranking received a score of 0.
The SmartAsset study is available online.
1. Bridgeport-Stamford-Norwalk, Connecticut: 100
2. Northport-Sarasota-Bradenton, Florida: 99.32
3. San Jose-Sunnyvale-Santa Clara, California: 98.3
4. San Francisco-Oakland-Hayward, California (tie): 96.94
4. Cape Coral-Fort Myers, Florida (tie): 96.94
6. Boston-Cambridge-Newton, Massachusetts-New Hampshire: 94.9
7. Seattle-Tacoma-Bellevue, Washington: 93.88
8. Austin-Round Rock, Texas: 89.8
9. New York-Newark-Jersey City, New York-New Jersey: 88.1
10. Durham-Chapel Hill, North Carolina: 81.29