#2 City where 'Women Are the Most Successful'
The latest data from the U.S. Census Bureau shows that women earn approximately 80% of what men do. Though the work to achieve pay gap equity is far from finished, it’s important to recognize the areas in which women in the workforce are making progress now in order to build upon these achievements in the future. Bureau of Labor Statistics (BLS) data shows that the unemployment rate for women (age 20 and older) was 3.40% in early 2019, which is the lowest unemployment rate for this demographic since 2000. The number of female business owners nationally has also grown more than 22% in the past five years. The more successful women are in places with favorable economic conditions for them, the more likely they are to tuck away money in a savings account for the future. To get a better idea of where women are finding the most success, we decided to dig deeper into the data.
To find the U.S. cities where women are most successful, we looked at six factors: the percentage of women with a bachelor’s degree, median earnings for full-time working women, the percentage of women with incomes of at least $75,000, the percentage of business owners who are women, the unemployment rate for women and average housing costs as a percentage of the full-time working woman’s income. Check out the Data and Methodology section to see our data sources and how we put it all together.
Women are finding success across the country. The cities in our top 10 represent eight different states. There are cities in both the West Coast and the East Coast. There are also cities located in both the North and the South.
The top-10 cities are well educated. All of the top 10 cities (and 13 of the top 15 cities) rank in the top 20 for the percent of women who have a bachelor’s degree. Interestingly enough, of the cities that have top-15 scores for the percentage of women with a bachelor’s degree, 13 also rank in the top 25 for median earnings.
2. Plano, TX
Plano, Texas is up seven spots from No. 9 last year. The city’s female unemployment rate is 2.40%, which is below the national average. Census data also shows that 35.50% of women in Plano have a bachelor’s degree. That’s the fourth-highest rate in the study. Earnings for women are also relatively high. The median income for women is $52,028 and almost 28% of women have an income of $75,000 or more. Both of those figures are top-20 rates. The percentage of female business owners in the city is also relatively high, at 41%. Plano ranks in the top 10 for that metric.
One reason Plano doesn’t take the top spot is that its housing costs are relatively high. But don’t let that discourage you if you’re considering moving there: We found that it’s still one of the most livable cities in the U.S.
Check out the full ranking here.