You know, I've always heard that and thought it seemed reasonable, but when I actually started looking through the data I noticed that the top tier cities often have significantly lower median incomes.
The top tier cities also have higher mean incomes. The top tier cities tend to attract the outliers. If you are Mark Zuckerberg, you probably live in a top tier city. But almost nobody is able to say they are earning like Mark Zuckerberg. And if you are earning like Mark Zuckerberg, the cost of housing is the least of your concerns.
It seems for the normal every day average person, they actually make less money in a top tier city.
The top tier cities also have higher mean incomes. The top tier cities tend to attract the outliers. If you are Mark Zuckerberg, you probably live in a top tier city. But almost nobody is able to say they are earning like Mark Zuckerberg. And if you are earning like Mark Zuckerberg, the cost of housing is the least of your concerns.
It seems for the normal every day average person, they actually make less money in a top tier city.