Gilbert ranked No. 1 in U.S. for median income
Gilbert has the highest median income in the country, making it the top city for "wallet wellness," according to a national financial-responsibility ranking of 150 U.S. cities.
Two other East Valley cities -- Chandler and Scottsdale -- also fared well in the ranking by personal-finance website WalletHub, coming in at fourth place and seventh place, respectively.
It makes sense to see East Valley cities recognized for their financial savvy because of the region's dedication to attracting high-paying jobs, said East Valley Partnership program manager Mike Hutchinson.
"The pay and compensation packages for those type of jobs helps people to move into communities, buy houses, be active in the community," Hutchinson said.
The "wallet wellness" ranking looked at everything from financial indicators like income levels and homeownership rates to well-being gauges like average commute time.
WalletHub analyst Jill Gonzalez said one of the most important things cities can do is fuel an entrepreneurial spirit that will attract younger demographics.
"If you can attract Millennials who are starting their own businesses, laying down roots and then starting families -- obviously they're going to be caring more about not having that extra debt and making enough money to be able to afford the kind of house they want," Gonzalez said.
That's something that Gilbert has latched onto as it's experienced intense growth in the past two decades, said Councilwoman Jenn Daniels.
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"We know that small business is the backbone of our community, and really of any community, and we love to see local businesses expand and grow," Daniels said.
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Additionally, it's essential that cities attract companies with high wages, Gonzalez said. She said wages have stayed near stagnant across the country, but have actually increased in Gilbert by 3 to 5 percent in recent years.
"That in and of itself is really special," she said.
Hutchinson said East Valley cities like Gilbert and Chandler have prioritized attracting these types of companies by investing in infrastructure that companies need -- quality streets, sewer lines and storm-drainage systems. The cities have also devoted resources to parks, performing-arts centers and higher-education facilities so that employees will want to live in the East Valley.
"It's just the combination of forward-thinking investments in infrastructure and quality-of-life projects that make it a very appealing place," Hutchinson said.
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The one category that did not bode well for any Arizona city in the "wallet wellness" ranking was the average commute time. Gilbert, Chandler and Scottsdale saw average commute times of 27 minutes, 23 minutes and 21 minutes, respectively.
Hutchinson said East Valley cities are looking at opportunities to expand the light rail and other public-transit opportunities, which could help alleviate some of the commute times.
Daniels said Gilbert is interested in continuing conversations about alternative transportation, but the town has another idea to keep commute times low.
"We're also interested in making sure there's enough jobs and employment -- and the types of employment that people who live here want -- so they don't have to necessarily leave to go to work," Daniels said.
