And on that relative basis, Los Alamos really stands out. This time the list is from Bloomberg. The typical Mississippi household earns just $43,567 a year, about $17,000 less than the typical American household. To compiler their 2020 list of the 50 richest places, Bloomberg "evaluated . Tourism is a key contributor to the local economy, thanks to the nearby New Hampshire International Speedway, as is the state's increasing emergence as a center of high-tech manufacturing. Median household income: $105,000 (state: $57,422), Poverty rate: 2.7% (state: 12.4%), Median home value: $352,200 (state: $145,400). 4. Heber boasts world-class recreational activities for the wealthy and regular Joes alike. For each location in the U.S., Bloomberg evaluated inflation-adjusted household income data from the past 12 months, with a minimum of 2,000 households, and ranked each by average household income. Places like Dickinson, located in the oil-rich Bakken Formation, were mining millionaires. Highland, Utah, is located between Salt Lake City, the largest metro area in the state, and Provo, home to Brigham Young University, the state's largest college. Incomes tend to rise with educational attainment, and in North Star, about two-thirds of adults have a bachelor's degree or higher, compared to fewer than one in every three adults across Delaware as a whole. We added hundreds of new lists - see our top 101 city lists. High-income areas tend to have well-educated populations -- and Duvall is no exception. The typical household earns $214,477 a year, more than three times both the state median household income of $59,570 and the $60,293 national figure. Atherton. Largely agricultural for most of its history, Weddington began to develop more residential housing in the 1970s in tandem with the expansion of the Charlotte metro area. Tech billionaires, like former Google CEO Eric Schmidt, Facebook COO Sheryl Sandberg and late Microsoft co-founder Paul Allen, have called the richest town in America home where the average household income is more than $500,000 a year. New York, It is one of the most educated towns in the state, with 48% of the population holding a bachelor's degree. Published 17 January 23. places to live From metro areas on both coasts to the middle of the Pacific Ocean, these are the priciest cities in the U.S. to call home. Located in Washington County, Arkansas, the small town of Goshen is considered to be the wealthiest in the state. Median household income: $97,143 (state: $57,598), Median home value: $225,400 (state: $242,400). More than one in every five households in the area earn over $200,000 a year. But the area offers much more than pricey lift tickets and celebrity spotting. 5). In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics and more. Median household income: $80,513. It has a higher share of wealthy residents than any other small city or town in New York, with 56.9% of households earning at least $200,000 per year. This level of education qualifies Genesee residents for many of the high-paying jobs in the Denver area. By Louis Navellier With a population of around 9000, Glencoe is one of the most popular (and exclusive) suburbs of Chicago. The Top 10 CHEAPEST Cities to live in the United States for 2020. To clarify: That means they have at least $1 million in investable assets. Like all Floridians, Key West's millionaires save a bundle on taxes. Oak Hill is a small city of approximately 4,600 residents located about 7 miles south of downtown Nashville. 10. Median Home Value: $288,200. All four have average incomes upwards of $400,000. Atherton, CA- Average household income - $450,696. However, also has some seriously luxurious mansions and impressively large . 12. Median household income: $235,669 (state: $81,868), Poverty rate: 1.6% (state: 9.4%), Median home value: $1,090,400 (state: $305,500). By Jeff Reeves Not all parts of the state are low income, however. Property taxes are modest, but sales taxes lean high (opens in new tab). It's a good thing, too, considering the high price of homes in the area. The 2014 slump in energy prices touched off the state's worst recession in three decades. The self-made hyper-rich say these things are the key to getting there. Situated on the northeast shore of White Bear Lake some 20 miles from downtown Minneapolis, Dellwood is one of the wealthiest suburbs in the Midwest. Unfortunately for millionaires and folks of lesser means, New York State taxes take a bite. Warren Buffett Stocks Ranked: The Berkshire Hathaway Portfolio. Lexington has become one of the wealthiest cities in America, with the typical home costing $1,361,431 in 2022, according to Zillow. Some 22.6% of households earn $200,000 or more, more than five times the comparable 4.4% of households throughout Wisconsin. With only 3.53% of residents out of work, and the average household bringing in $79,133 a year, Utah is quite the rich place. Rank City Income; 1. Naturally, this tony locale is not easy on the wallet, as evidenced by the exorbitant real estate prices. The three largest employers in Linn County, where Robins is located, are in the aerospace, insurance, and health care fields, all of which can pay relatively high salaries. Top 5 fastest-growing U.S. cities for millionaires. Atherton, California tops the list for the fourth . A relatively low-income state, New Mexico is one of only seven states nationwide where most households earn less than $50,000 a year. These include financial companies Citi and Wells Fargo as well as the biomedical companies Avera Health and Sanford Health -- each of which employs thousands of people. Bloomberg released its annual list of the richest town . Analysts say a tough 2022 has left these small-cap stocks priced for outperformance in the new year and beyond. The wealthiest place in the state, New Albany has a median household income of $203,194, nearly four times the income the typical Ohio household earns annually. The typical home in Horace is worth $293,800, the most of place in North Dakota and far more than the median home value statewide of $185,000. The typical household in the area earns $88,199 a year, a higher median income than in every other small city or town in the state. Idaho's median annual household income is just over $53,000, which is lower than the majority of states. And just when Alaska could see an end to the downturn, COVID-19 hammered the energy sector. Median household income: $159,167 (state: $50,972), Poverty rate: 0.8% (state: 16.1%), Median home value: $649,000 (state: $158,600). The town is centered by Hidden Valley Lake. And while it helps to be a millionaire to live in Juneau, it's increasingly difficult to become one. Driving time: 6 hours, 14 minutes. Concord also benefits from being within easy reach of Laconia and the state's famed Lakes Region, as noted earlier. Top 100 cities with highest median household income Previous toplist Next toplist . 2,047) No need to worry about health care, either. Los Angeles, Chicago and Houston round out the top five . To determine America's richest towns, 24/7 Wall St. reviewed household income data from the U.S. Census Bureau's American Community Survey in every American town with a population of between . Published 24 January 23. recession With nearly a $12 million annual salary, Walters was one of the highest-paid news anchors . Median household income: $117,300 (state: $59,209), Poverty rate: 3.5% (state: 11.9%), Median home value: $373,200 (state: $173,600). Tiny Easton, on the Eastern Shore of the Chesapeake Bay, prides itself on its out-of-the-way feel, with country farms mixing with lavish waterfront estates. Median household income: $71,111 (state: $53,089), Poverty rate: 3.6% (state: 13.8%), Median home value: $364,600 (state: $192,300). Complete list click for interactive table. A Division of NBC Universal, A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. The typical household earns $176,528 a year, more than twice the $68,411 state median household income and nearly three times the $60,293 national figure. Microsoft co-founder Paul Allens estate in Atherton, CA, recently sold for a hefty $35.25 million. It's less than an hour away from Annapolis, the state capital, while Washington, D.C., and Baltimore can be reached by car in about 90 minutes (traffic willing). On the plus side, Alaska is one of the most tax-friendly states in the union (opens in new tab). A suburb of Detroit, Bloomfield Hills is located less than 30 miles from Hamtramck, the poorest community in the state where most households earn less than $26,000 a year. Cost of living: 21.1% above U.S. average. Oak Harbor itself plays host to nearby Naval Air Station Whidbey Island. When folks think of Steamboat Springs, its reputation as one of the best ski resort towns in the world is likely what first comes to mind. The wealthiest town in the state, Destrehan's median household income of $92,052 is nearly double the median income across Louisiana of $47,942. Phoenix Marketing International (opens in new tab), a firm that tracks the affluent market, annually ranks 933 urban areas, large and small, based on the percentage of millionaire households in each location. So it should come as no surprise that Breckenridge would make the cut. . In Oak Hill, some 78.2% of adults have at least a bachelor's degree -- about three times the 26.6% state college attainment rate and by far the most of any small city or town in Tennessee. Five-star skiing at the Deer Valley and Sundance ski resorts is roughly a half-hour away. Carson City, capital of the Silver State, is just 20 miles to the north of Gardnerville Ranchos, and high rollers can reach Reno's casinos in an hour. Following Atherton is Scarsdale, New York, which is less than 25 miles away from Manhattan; Hillsborough, California, about 20 miles south of San Francisco; Cherry Hills Village, Colorado, a Denver suburb; and Los Altos Hills, California, near Silicon Valley. 20 Dividend Stocks to Fund 20 Years of Retirement, Torrington is the largest town in Litchfield County, which has long been a popular retreat for Manhattan's wealthy and chic looking for a remote, mountainous retreat. The median annual household income in America is just over $60,000. Scottsdale, Arizona. It became the first and only neighborhood in America to top the half-million-dollar mark. Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts. What started as a small farming community in the 1870s now has some the most expensive homes in North Dakota. As is typical among the cities and towns on this list, Essex Junction is within commuting distance of a larger urban area. Cumberland Hill is a small Census-designated place of about 8,000 residents located in northern Rhode Island. For context, the typical American home is worth about $205,000. Hidden Valley is a private residential community on the eastern edge of Indiana, just across the Ohio border from Cincinnati. (It's an in-state draw for all the millionaires from the Stamford area, too. With roots dating back to the early 1800s, Travilah is home to a large number of historic homes with large tracts of land, and it has some of the most expensive houses in the country. Here are the 20 richest counties in the U.S. and the average household incomes of each, according to DailyMail.com's report. 12 Cheapest Small Towns in America 2020. The typical Spring Creek home is worth $225,400, less than the $242,400 state median home value. The facility has a nearly $3billion annual budget and employs some 13,000 people -- about two-thirds of whom have a college degree. Median household income: $72,537 (state: $55,425), Poverty rate: 10.6% (state: 12.5%), Median home value: $218,800 (state: $184,500). Known as the Garden Island, Kauai is one of the state's less developed locales. Perhaps best known is Hanover, N.H., which forms the northern tip of this urban agglomeration. Brandon is a small city in eastern South Dakota, just outside of Sioux Falls -- a city home to several major companies that offer high-paying employment opportunities. The Beehive State isn't as tax-friendly as it used to be (opens in new tab). The report based its . Incomes in the town are so high likely partly because of the residents' high level of education -- more than two-thirds of Highland Lakes residents 25 and over hold at least a bachelor's degree, one of the larger shares of any small city or town in Alabama. Many residents likely commute to high-paying jobs in nearby Birmingham. By Jeff Reeves His wealth has rocketed to $10.9 billion from $4.6 billion in 2020. The city's great appeal is no secret. As we shall see, another area near Laconia makes this list of small towns with a high percentage of millionaires. 30.0. 10. Thanks to its location on the Yampa river, Steamboat Springs is perfect for fishing, rafting, tubing and kayaking. One of the main reasons for this is likely a high level of education. 13 Best Vanguard Funds for the Next Bull Market. The area's population grew by 34.5% from 2013 to 2018, compared to the U.S. population growth of 3.6%. Since then, the 2020 median household income has been reported as $67,521, a 2.9 percent decrease since 2019, . Greenville's median home value is more than triple that of New York state, at over $950,000. Some 39% of adults have a bachelor's degree or higher, well above the comparable 23.7% share of adults across the state as a whole. Genesee has a median annual household income of nearly $160,000, more than double the state median. The Oak Harbor, Washington, micro area actually encompasses all of Whidbey Island. Median household income: $106,288 (state: $48,059), Median home value: $295,600 (state: $166,800). The median household income in Edgeworth is $161,641, making it the wealthiest municipality in Pennsylvania. Like many prosperous communities, New Albany is growing rapidly. The net impact of accounting for differences in the purchasing power of a dollar in . Median household income: $180,541 (state: $63,575), Poverty rate: 1.2% (state: 13.1%), Median home value: $625,100 (state: $187,200). The Kapaa micropolitan area includes the entirety of Kauai, Hawaii's fourth-largest island. In Gateway, Alaska, most households earn more than $100,000 per year, compared to the statewide median income of $76,715. If your ideal summer retreat is a lakeside getaway, you could hardly do better than Laconia. The typical area home is worth about $645,000, nearly double the value of the typical New Jersey home. Median household income: $92,688 (state: $74,057), Poverty rate: 4.3% (state: 7.9%), Median home value: $358,300 (state: $252,800). For the fourth straight year, Atherton toppedBloomberg'sRichestPlaces annual index. The best healthcare stocks offer investors a defensive hedge in an uncertain market. Gabe Kaminsky of the Washington Examiner reports an ethic watchdog's critique of high-profile congressional Democrats known as "The Squad." Democratic members of the "Squad" in Congress continue to raise ethics concerns and red flags among watchdog groups, who have often urged government bodies to investigate their alleged misconduct.The latest situation earning the ire of watchdogs Port Royal, Naples, Florida. Indeed, benchmark U.S. crude oil is off about 35% over the past year. That helps explain its inclusion on the list of small towns with high concentrations of millionaires. Sean Hannity is the wealthiest anchor on television. It is worth noting that the data used for this story represents a time before the coronavirus pandemic. Rents jumped nationwide over the past year, but these big U.S. cities remain comparatively affordable for apartment dwellers. Belvedere, California is just north of Richardson Bay, across the water from San Francisco -- the second richest metro area in the country -- and within driving distance of San Jose, which is the richest metro area. High paying jobs typically require a college degree, and Destrehan residents are far more likely than the typical Louisiana resident to have a college education. In many cases, the chef is why someone visits a restaurant. Most homes in Pinecrest are worth over $900,000, while most Florida homes are worth less than $200,000. By Dan Burrows Click to skip ahead and jump to the 10 richest cities in the United States. Indeed, if Nevada were a country, it would be the world's fourth-largest producer of gold behind China, Australia and Russia, according to the U.S. Geological Survey. Building on this momentum, Duke Energy Corporation and the state's rural electric . Burlington, the largest city in the state, sits less than 10 miles west of Essex Junction. This table shows the astonishing list of wealthiest counties in America by average household income. The typical Weddington household earns $132,587 a year, more than twice the median household income of $60,886 in Charlotte and the state median of $52,413. Maryland has the second most millionaires per capita of any state in the U.S., according to Phoenix Marketing International, but it's unfriendly when it comes to taxes (opens in new tab). By raw numbers, most millionaires in America can be found in and around big cities such as New York, Los Angeles and Chicago just as you would expect. Sign up here, Your California Privacy Rights/Privacy Policy. 1 Boca Grande. Bloomfield Hills is the wealthiest place in Michigan. Avondale Estates is a small city of approximately 3,100 residents located seven miles east of downtown Atlanta. SECURE 2.0 Act Lets Retirees Defer Some Taxes Longer, Best AI Stocks to Buy: Smart Artificial Intelligence Investments, The 6 Safest Vanguard Funds to Own in a Bear Market, 10 Big U.S. Cities With the Cheapest Apartment Rents, 7 Best Small-Cap Stocks to Buy for 2023 and Beyond, New Hampshire is a relatively tax-friendly state, North Dakota is one of the nation's more tax-friendly states, But for more modest incomes, the impact is far milder, and property taxes are low, reputation as a high-tax state is overblown. The downside? West Palm Beach, Florida. With three major ski resorts and an abundance of other year-round recreational activities, it's easy to see the appeal for those with means. Oklahoma has one of the lower median household incomes among states, at $51,424. More than three out of every four adults in the area have a bachelor's degree or higher, compared to 41.9% of adults in Massachusetts. This is further evidenced by rapid population growth. Built with one-acre plot minimums for most of its history, the Inverness housing stock is among the most expensive in the country. The largest companies in the area include government tech contractor Booz Allen Hamilton, Inova Health System, and government-sponsored finance giant Freddie Mac. And, unlike more rural parts of the vacation wonderland, Laconia is just a few miles off Interstate 93. Of all adults in the area, 38% have a bachelor's degree or higher, compared to 33.3% of adults statewide. Kiplinger is part of Future plc, an international media group and leading digital publisher. Honolulu in Hawaii is one of the 100 Richest Cities in America #8. 27 / 52. 11 March 2007: The tables provide GDP figures for cities and their surrounding urban areas in 2020. In the first half of the 2010s, North Dakota had the fastest-growing economy in the nation, thanks to the explosion in shale oil drilling. revealing the wealthiest towns in the US. Great Falls is the richest town in Virginia and one of the richest in the entire country. Tega Cay, South Carolina, is located on a peninsula along Lake Wylie, just south of the border with North Carolina. Most households in the town earn more than $150,000 annually, and more than one-third earn over $200,000. Even in Brandon, the wealthiest place in the state, the typical household earns $74,172 annually -- which, while high in the context of Mississippi, is less than the median income in half a dozen states, including Alaska, Connecticut, and New Jersey. On the downside, Minnesota is not a friendly state (opens in new tab) when it comes to taxes. Within five years, Tulsa had grown from a rural crossroads town in the former Indian Territory into a boomtown with more than Austin, Texas. All 30 Dow Stocks Ranked: The Pros Weigh In. Median household income: $88,199 (state: $63,296), Poverty rate: 5.3% (state: 13.1%), Median home value: $251,300 (state: $249,800). Sign up here, Median household income: $203,194 (state: $54,533), Poverty rate: 2.5% (state: 14.5%), Median home value: $494,600 (state: $140,000). The high incomes in Glen Ridge are evident by real estate values. [2] Sree Venkateswara Swamy Temple. What had fueled this remarkable growth was oil, specifically the discovery of the Glenn Pool oil field in 1905. Another attractive aspect of the area is that the City of Lebanon operates Storrs Hill, a 20-acre ski area that hosts three ski trails, two ski jumps, a surface lift and ski lodge. Although median income in the micro area is roughly $12,000 above than the national level, median home value beats the U.S. median by a whopping $280,900. The typical Travilah home is worth $1.1 million, more than three times the $305,500 state median home value and more than five times the $204,900 national figure. The typical household in Oak Hill earns $159,167 a year, more than triple the median household income of $50,927 across Tennessee as a whole and the most of any small city or town in the state. ; The 15 Richest Countries in the World Launching and succeeding with an innovative, one-of-a-kind business is an exhilarating yet daunting journey. Median household income: $214,477 (state: $59,570), Poverty rate: 4.3% (state: 15.5%), Median home value: $1,230,200 (state: $161,700). Check out: The best credit cards of 2020 could earn you over $1,000 in 5 years, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. The No. Median household income: $75,441 (state: $62,268), Poverty rate: 11% (state: 11.1%), Median home value: $217,400 (state: $213,300). Data on household incomes and home values come from the U.S. Census Bureau. . And don't forget the incomparable sunsets. As is often the case in wealthy communities, Fairway has high real estate values. It also has a trio of 18-hole golf courses. For the fourth straight year, Atherton topped Bloomberg's Richest Places annual index. Edgeworth is a small borough of approximately 1,600 residents located some 12 miles up the Ohio River from downtown Pittsburgh. Reply. The appeal of Key West to millionaires and heck, everyone is pretty self-evident. The median annual household income in Ocean Pointe is $114,801, more than in any other small city or town in Hawaii. Skiing, luxury shopping, world famous film festivals the Summit Park, Utah, area has everything a millionaire could ask for and more. Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016. Too cold outdoors? The Cannon River runs through town, and several parks and walking paths provide access to fishing, canoeing and kayaking. Millionaires in America 2020: All 50 States Ranked. Median household income: $92,052 (state: $47,942), Poverty rate: 3.6% (state: 19.4%), Median home value: $234,500 (state: $157,800). Atherton, the upscale community south of San Francisco, has been home to the former chairman of Google Eric Schmidt and brokerage boss Charles Schwab. By comparison, the median household income across Pennsylvania is $59,445. We have yet one of the Richest Cities in California on our list at the eight spot and that is Oxnard-Thousand Oaks-Ventura. Large concentrations of high-net-worth households are found in surprising locales across the U.S. Visit our corporate site. Real estate taxes are among the highest in the country, and the state has not only a luxury tax, but the country's only gift tax. As is often the case in wealthy communities, real estate is not cheap in Darien. More than 8,000 people call Upper Saddle River in Bergen County home. Median household income: $106,285 (state: $54,325), Poverty rate: 3.7% (state: 14.1%), Median home value: $196,800 (state: $135,400). Ireland, on the rise thanks to favorable corporate tax policies, is projected to hit #1 by 2027.; The resource-rich land with the world's biggest economy, the United States, ranks 9th on the list. (See below for yet even more examples.) North Star, Delaware, located about 10 miles west of Wilmington and 35 miles southwest of Philadelphia, has a median household income of $141,533, more than double the statewide median of $65,627. 10 Ridgewood, New Jersey . The Claremont-Lebanon micro area abuts Laconia and has plenty of its own attractions, as well. Median household income: $123,220 (state: $48,392), Poverty rate: 11.5% (state: 17.9%), Median home value: $328,000 (state: $135,300). Bridgeport, just south of Morgantown and West Virginia University, has the highest four-year college attainment rate of any town in the state, at 50.7%. Rock Springs has since transitioned from coal to an economy dependent on trona mines and oil and gas, and is today the wealthiest small town in Wyoming. The small resort city about 160 miles west of Denver is loaded with fun stuff to do and not just in winter, when skiing is the main attraction in the Colorado Rockies. Future US, Inc. Full 7th Floor, 130 West 42nd Street, Overall, Tulsa in 1921 was considered a modern, vibrant city. Greenwich and Darien, Connecticut. With pristine beaches, lush forests, soaring mountains and relatively few people, Kapaa (and the surrounding area) is an ideal place for a millionaire's tropical island nest. There are six cities in where the median household income is less than $20,000: (1) Livingston .
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