This California city has the best job market in the nation, new study says. Here’s why

California is home to some of the best job markets in the nation, according to a new finance study.

Three California cities landed on SmartAsset’s list of the top 20 job markets in the United States, released Wednesday.

Santa Clara led the pack with a median income of $100,182 for individual workers. That’s higher than any other city, SmartAsset said.

Carlsbad trailed behind at No. 9 with a median income of $81,755, followed by Fremont at No. 16 with $91,722.

“With costs of living skyrocketing in recent years and the demand for different skill sets changing, job seekers must be resourceful to find opportunities that best suit them,” SmartAsset managing editor Jaclyn DeJohn wrote on the site.

“This could mean relocating for higher income, an improved work-life balance, growth potential or benefits,” she adds.

Does Santa Clara has the best job market in US?

Santa Clara has the best job market among large U.S. cities, according to SmartAsset.

The company cited a 53.4% increase in workers’ wages over the past three years as the reason for the high ranking.

The unemployment rate is 4.8%.

The average monthly housing payment is $2,851 ,or, 34.1% of an individual’s income. The study median is 40.2%

What about other California cities?

Roseville was No. 75 on SmartAsset’s list of the best job markets in the nation, followed by Sacramento at No. 165 and Elk Grove at No. 243.

Further down the list, Fresno and Stockton ranked at the bottom 60.

On the Central Coast, Santa Maria was 342nd out of 344.

Which US cities made the top 20 list?

These cities were among the top 20 job markets in the U.S., according to SmartAsset:

1. Santa Clara
2. Bellevue, Washington
3. Cary, North Carolina
4. Fishers, Indiana
5. Arlington, Virginia
6. Goodyear, Arizona
7. Seattle
8. Rochester, Minnesota
9. Carlsbad
10. Frisco, Texas
11. Westminster, Colorado
12. Alexandria, Virginia
13. Sandy Spring, Georgia
14. Bend, Oregon
15. Grand Rapids, Michigan
16. Fremont
17. Scottsdale, Arizona
18. Hillsboro, Oregon
19. Chattanooga, Tennessee
20. Austin

How did SmartAsset come up with rankings?

SmartAsset used 2022 data from the U.S. Census Bureau to analyze job markets in the country’s largest cities. Places were ranked based on income, housing affordability, remote work, commute time, unemployment and health benefits.

Nearly 350 locations were included on the list.

This story was originally published May 23, 2024 at 12:45 PM.