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Where Women Are Most Successful – 2022 Edition

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SmartAsset: Where Women Are Most Successful - 2022 Edition

There are over two million women business owners, and that number is on the rise. In fact, data from the Census Bureau shows an increase of 17.63% between 2017 and 2021. Compared to 10 years ago, that’s more than a 51% increase.

Business ownership is not the only indicator of whether women are thriving, however. Earnings, education and employment are three other important factors. In this study, SmartAsset identified where women are most successful by comparing 200 of the largest U.S. cities across five metrics. For details on our data sources and how we put all the information together to create our final rankings, read the Data and Methodology section below.

This is SmartAsset’s fifth study on where women are most successful. Check out the previous version here.

Key Findings

  • DC area cities claim the No. 1 and No. 2 spots. Women in the nation’s capital and Alexandria, Virginia, have median earnings of more than $78,000. Additionally, more than 62% of women hold a bachelor’s degree in both cities. Another DMV city – Arlington, Virginia – ranks 26th-best in our study overall, also performing well on both earnings and education metrics.
  • A strong showing from the Pacific Northwest. Three of the top 10 cities where women are most successful are in Washington (Seattle and Bellevue) and Oregon (Portland). In all three cities, at least 57% of women hold a bachelor’s degree and more than 23% of women earn upwards of $100,000.
  • Women business owners outnumber their male counterparts in 17 cities. Salinas, California takes the No. 1 spot for this metric with women making up nearly 69% of all business owners. Augusta, Georgia (68.0%) and Rochester, New York (63.7%) follow as No. 2 and No. 3 cities, respectively. In comparison, nationally, only about one in three business owners is female.


1. Washington, D.C.

The nation’s capital retains its No. 1 spot for another year in a row. Here you can find the sixth-highest median earnings for full-time working women ($87,244) and sixth-highest percentage of women earning $100,000 or more (41.65%). Roughly 62% of women in Washington, D.C. have a bachelor's degree and more than half of business owners are women.

2. Alexandria, VA

Neighboring Washington, D.C. is Alexandria, Virginia. Alexandria ranks sixth-highest for both the percentage of business owners who are women (57.7%) and the percentage of women who have a bachelor’s degree (67.92%). In Alexandria, you will also find the eighth-highest percentage of women earning $100,000 or more (38.07%).

3. Cary, NC

Cary, North Carolina has the fifth-highest percentage of women with a bachelor’s degree (68.82%) in our study. The city also ranks in the top 25 cities for median earnings for women's median earning ($64,453), the percentage of business owners who are women (51.1%) and percentage of women earning $100,000 or more (25.50%).

4. Seattle, WA

More than 70% of the women in Seattle, Washington hold a bachelor’s degree (the third-highest rate overall). The city also has the seventh-highest median earnings for women ($85,372) and over 40% of women earn $100,000 or more.

5. Minneapolis, MN

Minneapolis, Minnesota ranks best for women's median earnings (roughly $60,100) and the percentage of business owners who are women (44.6%). Additionally, average housing costs make up less than 28% of women's median earnings - the 35th-best rate in our study.

6. Sunnyvale, CA

Median earnings for women are highest in Sunnyvale, California - at $103,080. Additionally, over 53% of women in this city earn at least $100,000 and Sunnyvale is home to the tenth-highest percentage of women with bachelor’s degrees (nearly 66%).

7. Durham, NC

Across all five metrics, Durham, North Carolina ranks best for the percentage of business owners who are women (61.2%), taking the No. 4 spot for this metric. Moreover, about 60% of women in the city hold a bachelor’s degree in the city (17th-highest).

8. Bellevue, WA

Bellevue, Washington ranks fourth-best for both median earnings for women ($93,878) and the percentage of working women who earn $100,000 or more (46.74%). Bellevue also has the seventh-highest concentration of women with a bachelor’s degree (66.76%).

9. Davis, CA

The city with the highest concentration of women with bachelor’s degrees (80.95%) is Davis, California. Davis also offers the 12th-highest median earnings for women (roughly $74,200) and the 15th-highest percentage of women who earn $100,000 or more (32.38%).

10. Portland, OR

Portland, Oregon rounds out our list of the top 10 cities where women are most successful. It ranks in the top 30 cities for three metrics: percentage of women with a bachelor’s degree (57.50%), percentage of women who earn $100,000 or more (23.65%) and median earnings for women ($62,698).

Data and Methodology

To find where women are most successful, SmartAsset analyzed data on the 200 of the largest U.S. cities. We compared cities across five metrics:

  • Percentage of women older than 25 with a bachelor’s degree.
  • Median annual earnings for full-time working women.
  • Percentage of business owners who are women.
  • Housing costs as a percentage of earnings for full-time working women. This is the median annual housing costs divided by the median earnings for full-time working women.
  • Percentage of full-time working women earning $100,000 or more.

Data for all metrics comes from the Census Bureau’s 2021 1-year American Community Survey.

We ranked each place in every metric, giving an equal weighting to all but one metric: percentage of full-time working women earning $100,000 or more, which was half-weighted. We then found each city’s average ranking. The city with the best average ranking places first in our study while the city with the lowest average ranking places last.

Tips for Maximizing Your Financial Success

  • Set yourself up for success in the future. Putting a plan in place for your retirement ensures that you will find success even as you age out of the workforce. Learn how much you’ll need in your 401(k) to retire and use our calculator to make sure you’re on track.
  • Don’t shoulder the burden of financial success by yourself. Work with an expert to help you maximize your money with guidance on savings, investments and retirement. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Questions about our study? Contact press@smartasset.com.

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