Apparently people think enough about it: Newport Beach’s per capita income of $86,586 easily leads the 420 U.S. communities with populations greater than 75,000, the website says, and it triples the national income of $27,589. Portfolio.com analyzed U.S. Census Bureau data from 2008.
More than a quarter of Newport households have annual incomes of more than $200,000. Just two other cities in the study group are above 17% — Pleasanton and Newton, Mass., — but neither does any better than 24%.
High incomes translate into high property values.
The median value for homes in Newport Beach exceeds $1 million.
Santa Barbara is the only other place analyzed by Portfolio, a business publication, that can make that claim.
“Some of us bought houses 30 or 40 years ago,” Gardner, the District 6 councilwoman, said. “I’m sure this would come at much less of a surprise to people who bought in Newport Coast.”
Newport Coast, a subdivision of custom homes, was annexed in 2002 and has some of the wealthiest residents in Orange County, including Kobe Bryant.