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Permian Basin sees influx of high-income earners

Permian Basin sees influx of high-income earners

In 2022, Midland saw a 57.4 percent increase in growth of high-income households, or those making $200,000 or more, according to a newly-released study from SmartAsset.com.

In total, 3,144 high-income households were added to Midland that year, which propelled the percentage of those making $200,000 or more from 9.4 percent of the households in 2021 to 14.8 percent in 2022, according to the study, which was highlighted by the city.

Other Permian Basin cities also saw significant growth, including Odessa, which saw a 32.6 percent increase with 680 of these high-income households added.

The SmartAsset.com study, called “Cities Adding the Most High Income Households,” ranked 345 of the largest U.S. cities.

Midland was ranked 39th in the nation in its percentage of added high-income housholds in 2022, according to the study. Abilene ranked 83rd (with 390 additional high-income households), Odessa ranked 95th, Amarillo was 102nd (884) and Lubbock was 237th (1,265).

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