Median household income: $123,564 (state: $51,015), Median home value: $316,500 (state: $154,800). Median household income: $73,015 (state: $45,726), Poverty rate: 8.8% (state: 17.6%), Median home value: $170,700 (state: $123,300). In Paradise Valley, just 5% of residents live in poverty. With a median household income of $156,205, Duvall is the wealthiest small city or town in the state. We added hundreds of new lists - see our top 101 city lists. Oak Harbor itself plays host to nearby Naval Air Station Whidbey Island. 8. Cost of living: 21.1% above U.S. average. To ensure accuracy, we only considered places where the margin of error for population and median household income was less than 10%. 18 Stocks Warren Buffett Is Selling (And 6 He's Buying). Happily, for all of Elko's residents, Nevada is a no-income-tax haven, and one of Kiplinger's top 10 most tax-friendly states. In Los Alamos, most households earn over $100,000 a year. 12 Cheapest Small Towns in America 2020. Warren Buffett Stocks Ranked: The Berkshire Hathaway Portfolio. ETFs Median household income: $88,199 (state: $63,296), Poverty rate: 5.3% (state: 13.1%), Median home value: $251,300 (state: $249,800). Wealthy areas tend to be home to well-educated populations -- and Bloomfield Hills is no exception. 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. A relatively low-income state, New Mexico is one of only seven states nationwide where most households earn less than $50,000 a year. Places like Dickinson, located in the oil-rich Bakken Formation, were mining millionaires. 10. Median household income: $141,533 (state: $65,627), Poverty rate: 1.8% (state: 11.9%), Median home value: $444,400 (state: $244,700). In the last five years, the number of people living there jumped by 33.9%. No need to worry about health care, either. Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016. The typical Topsham household earns $72,537 a year, the most of any small city or town in the state and more than the statewide median household income of $55,425. In this article we take a look at the 30 richest cities in the United States. Median household income: $214,477 (state: $59,570), Poverty rate: 4.3% (state: 15.5%), Median home value: $1,230,200 (state: $161,700). However, also has some seriously luxurious mansions and impressively large . 3); and Cherry Hills Village, Colorado (No. This table shows the astonishing list of wealthiest counties in America by average household income. Number of individuals with a net worth of $5 million or more: 36,515. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019. NY 10036. Atherton is the richest town in America. Speaking of wealth, Atherton's average household income is a mind-boggling $525,324, up $74,638 since 2017, when it was last recorded by Bloomberg. New York, The mansions of America's wealthiest could just be a short trip from where you live although you might need a boat to get there. The median household income in Edgeworth is $161,641, making it the wealthiest municipality in Pennsylvania. The typical home is worth $625,100, more than three times both the state median home value of $187,200 and the national value of $204,900. Avondale Estates is a small city of approximately 3,100 residents located seven miles east of downtown Atlanta. Greenville is a relatively short commute to New York City, providing its residents access to the many high-paying jobs. The Wealth Report is Knight Frank's flagship annual publication, offering a unique perspective on global wealth, prime property and investment. Atherton, California tops the list for the fourth . Heber boasts world-class recreational activities for the wealthy and regular Joes alike. West Palm Beach, Florida. Water views, rolling hills and a verdant landscape (at least in the warmer months) make for many an idyllic scene. In Essex Junction, the wealthiest small city or town in the state, the median household income is just $75,439. Every one of the top 20 towns have households that bring in at least $300,000 a year. Settled by a diverse community of immigrant coal miners in the late 19th century, the population of Rock Springs has grown from 3,406 in 1890 to 23,633 today. The Evergreen State makes the cut because it doesn't have an income tax. The facility has a nearly $3billion annual budget and employs some 13,000 people -- about two-thirds of whom have a college degree. The population of Horace has grown rapidly over the past several decades, from 276 residents in 1970 to 2,660 today. The Aloha State is known for its high cost of living and a mixed picture when it comes to taxes (opens in new tab). The high incomes in the community are due in part to the presence of major companies. It also can get a bit crowded. Below are the 11 Chicago area towns that made the list with their rankings. Atherton, CA- Average household income - $450,696. It's easy to see why Glenwood Springs is popular with millionaires. And, unlike more rural parts of the vacation wonderland, Laconia is just a few miles off Interstate 93. 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. When you purchase through links on our site, we may earn an affiliate commission. With an average household income of more than $525,000, it became the first and so far only community to . One of the wealthiest states in the country, New Jersey has a median household income of $79,363, about $29,000 more than the national median. The Beehive State isn't as tax-friendly as it used to be (opens in new tab). Less than 1% of people in Robins, Iowa, live below the poverty line, and more than 22% of households in the town earn more than $200,000 annually. Reply. And, hang in there until you're 100 and your income taxes are waived altogether. Its richest municipality, Dalton Gardens, has a median household income of just over $71,000, which is lower than that of any other municipality on this list. The tiny town about 35 miles northwest of Santa Fe is home to a government nuclear weapons laboratory and a number of chemists, engineers and physicists. The typical home in Weddington is worth $443,600, the highest median home value of any small city or town in North Carolina and more than twice the $165,900 state median. With over 55% of residents 25 and older holding at least a bachelor's degree, Robins one of Iowa's most highly educated towns with residents qualified for the many high-paying jobs available nearby in places like Cedar Rapids. Glenwood Springs has collected many accolades over the years. Located along the Connecticut River bordering Vermont, this 50-square-mile town in the Upper Valley is home to Dartmouth College, the smallest of the eight Ivy League colleges. You'll find the Truckee-Grass Valley area on the California side of Lake Tahoe, with Truckee proper situated near the shore of the famed lake itself and Grass Valley sitting farther to the west. This is further evidenced by rapid population growth. 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 . Seattle-Tacoma-Bellevue. There are obviously more than a few high rollers in this area as the median household income is $121,149 and housing isn't much better at a median cost of $479,700. 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. Mountain biking, hiking and fly fishing are just a few of the allures for the millionaire who likes the great outdoors. Unfortunately for millionaires and folks of lesser means, New York State taxes take a bite. 10 Ridgewood, New Jersey . Loudoun County is located in the Commonwealth Virginia, with a population of 375,000 people. Complete list click for interactive table. Located less than 25 miles west of St. Louis, Clarkson Valley residents have access to employment opportunities in the nearby city, many of them high paying. The bottom 90% hold less than 25% of the total wealth. Montana City is also home to some of the most expensive homes in the state. Billionaires say to be successful, do these simple things every day. Around 276,400 millionaires, 623 centimillionaires and 62 billionaires live in the San Francisco Bay area, which includes Silicon Valley. AI stocks have been bloodied up in recent months, but the technology's relentlessly growing importance should see the sun shine on them again. But the state has a 4.95% flat income tax system, property taxes are low and sales taxes are average. On the plus side, Alaska is one of the most tax-friendly states in the union (opens in new tab). The surrounding area is home to a number of tech companies, including Intel and Tektronix and textile companies like Columbia Sportswear and Nike. The Cannon River runs through town, and several parks and walking paths provide access to fishing, canoeing and kayaking. Cumberland Hill is a small Census-designated place of about 8,000 residents located in northern Rhode Island. List of Top 10 Highest Paid News Anchors in India. In Glen Ridge, New Jersey, about 15 miles west of Manhattan, the typical household earns $213,801 a year, more than in any other small city or town in the state, and among the most anywhere nationwide. On the downside, Minnesota is not a friendly state (opens in new tab) when it comes to taxes. Even in one of the wealthiest states, Greenville stands out as especially affluent. For example, giant brands like The Coca-Cola Company (NYSE: KO ), Walmart Inc. (NYSE: WMT ), oil companies like Exxon Mobil Corporation (NYSE: XOM ), and many U.S.-based airlines, American . With everything from ski resorts to beaches, the Lake Tahoe area offers year-round activities for well-heeled tourists and full-time residents alike. Sean Hannity is the wealthiest anchor on television. In fact, every season challenges the next for which is more beautiful.". Sure, Utah ranks as the second richest state in the country. Much of Alaska's wealth is tied to the energy business. Driving time: 6 hours, 14 minutes. 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. 5,104) over $200,000: 2. 1 Boca Grande. More than half of the 100 richest cities in the United States were in the New York City area or California. Hidden Valley is a private residential community on the eastern edge of Indiana, just across the Ohio border from Cincinnati. Revealed: Countries With The Fastest Internet Speeds, 2020, Why Acting Like An Entrepreneur May Be Killing Your Business, Best Universities For Doctor of Business Administration (DBA), 2022, Worlds Best Hospitality & Hotel Management Schools, 2022, Antigua and Barbuda Citizenship by Investment Program (CIP), St. Lucia CIP: Saint Lucia Citizenship By Investment Program, Vanuatu CIP: Vanuatu Citizenship By Investment Program, Montenegro Citizenship By Investment Program (CIP), Moldova CIP: Moldova Citizenship By Investment Program, Turkey CIP: Turkey Citizenship By Investment Program, These are the worlds trendiest countries, 2023, Living in the Countryside? Washington, D.C . 13 Best Vanguard Funds for the Next Bull Market. In Brandon, most households earn over $84,000 a year, about $28,000 more than the typical South Dakota household. If there's a silver lining, it's that North Dakota is one of the nation's more tax-friendly states (opens in new tab). At the same time, the town offers easy access to several major cities. By Dan Burrows Many of those jobs in and around Fairway are high paying, as most households in the area earn over $100,000 a year, and more than one in five households earn $200,000 or more. 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. Median household income: $123,220 (state: $48,392), Poverty rate: 11.5% (state: 17.9%), Median home value: $328,000 (state: $135,300). The typical home in University Park is worth $1.2 million, compared to the median home value of $161,700 statewide. The Kapaa micropolitan area includes the entirety of Kauai, Hawaii's fourth-largest island. While many of the highest paying jobs tend to concentrate near large population centers, there are also smaller towns that are very prosperous. In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics and more. Click for the full list. Published 24 January 23. recession The median annual household income is over $228,000 -- more than triple that of the state. Median household income: $180,541 (state: $63,575), Poverty rate: 1.2% (state: 13.1%), Median home value: $625,100 (state: $187,200). This level of education qualifies Genesee residents for many of the high-paying jobs in the Denver area. Gardnerville Ranchos is a favorite hiding place for millionaires because of its proximity to Lake Tahoe, which has long been a getaway for the rich and famous. The poverty rate in Dalton Gardens is 3.6%, a fraction of Idaho's 13.8% poverty rate. If you need access to specialists not available at Northfield Hospital & Clinics, the Mayo Clinic is about 60 miles away, in Rochester. Reply. Initially a mining camp in the 19th century, Montana City has since developed into a wealthy suburb of approximately 2,800 residents. A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. Rank Metropolitan statistical area Population Per capita income 1 Washington-Arlington-Alexandria, D.C-Virginia-Maryland MSA 5,949,178 $47,411 Photographer: David Paul Morris/Bloomberg via Getty Images, A mansion-style home in Atherton, California, the most expensive ZIP code in the state, Why Finland and Denmark are the happiest countries in the world, How this 39-year-old earns $26,000 a year in California. For context, the typical American home is worth about $205,000. Median homes prices top the U.S. median by more than $159,000. The typical home in Montana City is worth $331,900, the most of any city with a population between 1,000 and 25,000 in Montana and far more than the $219,600 state median. The corporate leadership positions available to Centerton residents have likely helped raise the town's median household income to over $73,000 -- well above the statewide median of $45,726. Los Angeles, Chicago and Houston round out the top five . Vineyard Haven is a town on Martha's Vineyard. The typical home in Rock Springs is worth $217,400, slightly more than the $213,300 state median home value. Glencoe, IL. Given the school's very highly selective . America is often known in the world as the . Let's break out of Northern California and talk about an expensive Florida neighborhood - Port Royal, located in Naples. Median household income: $153,417 (state: $53,267), Poverty rate: 5.5% (state: 14.8%), Median home value: $919,800 (state: $196,800). The Sunshine State is well known for its absence of a state income tax, which helps make it one of Kiplinger's 10 most tax-friendly states (opens in new tab). The median annual household income in Ocean Pointe is $114,801, more than in any other small city or town in Hawaii. Source: Bloomberg. Dalton Gardens is north of Coeur d'Alene, Idaho, and across the border from Spokane, Washington, giving its residents access to two major population centers where they can find employment. August 25, 2020. 6. The best healthcare stocks offer investors a defensive hedge in an uncertain market. Clarkson Valley is a small Missouri city of less than 3,000 people. Median household income: $80,666 (state: $44,921), Poverty rate: 4.1% (state: 17.8%), Median home value: $220,100 (state: $115,000). Median household income: $210,511 (state: $76,106), Median home value: $1,461,100 (state: $272,700). Buzz60's Tony Spitz has the details. 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. Originally developed as housing for the teachers and staff of Southern Methodist University in the early 1920s, University Park has since developed into one of the wealthiest communities in the country. Walmart is the largest employer in Benton County, where Centerton is located. 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. The typical household in Rock Springs earns $75,441 a year, more than the $62,268 state median household income but less than the vast majority of places on this list. The typical area home is worth about $645,000, nearly double the value of the typical New Jersey home. Educational attainment is one of the largest determinants of income. Port Royal, Naples, Florida. 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. It became the first and only neighborhood in America to top the half-million-dollar mark. It has long been a retreat for the well-to-do of the Mid-Atlantic seeking antique shops and solitude. The town's widespread prosperity suggests that Ocean Pointe is a desirable place to live. The U.S. poverty rate is 14.1%. All of the wealthiest neighborhoods in America on Bloomberg's Richest Places Index have average household incomes over $300,000. The rugged mountain terrain is ideal for hiking, mountain biking, camping, you name it. Incomes tend to rise with educational attainment, and not only is Cumberland Hill the wealthiest place in the state, it is also the best educated. Sure, the loss of the federal personal exemption due to the new tax law means that many Utahns, particularly those with multiple dependents, will pay higher state taxes than before. 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. Fully 8.7% of Heber's 9,567 households have at least $1 million in investable assets. And while it helps to be a millionaire to live in Juneau, it's increasingly difficult to become one. 20. The median household income in Paradise Valley is nearly four times as high as the median in Arizona. And on that relative basis, Los Alamos really stands out. 65 Best Dividend Stocks You Can Count On in 2020. (See below for yet even more examples.) The states with the highest number of the richest cities are California with 23, New Jersey with 18, and New York with 13. 2020 At 9:44 pm. All 30 Dow Stocks Ranked: The Pros Weigh In. Incomes tend to rise with educational attainment, and as is often the case in other states, Missouri's wealthiest town is also its best educated. While this is the record at the beginning of 2020, his salary will surely increase by the end of this year. #2. Winnetka - $311,902. A 35-minute train ride from New York City, the town sports quaint shops and top-rated schools . South Carolina has one of the higher poverty rates among states, at 16%. So it should come as no surprise that Breckenridge would make the cut. New Albany is a suburb of the Columbus metro area, located less than 15 miles northeast of the Ohio state capital. The economy in Los Alamos is supported by the Los Alamos National Lab -- a research and development center for the Department of Energy and the National Nuclear Security Administration. Heres how it works. This is followed by Los Angeles with 52 billionaires, and San Francisco and Chicago, who each have 44 billionaires. Groceries alone cost almost 40% more than the U.S. national average, according to the Council for Community and Economic Research's Cost of Living Index. 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). 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. 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. 1 Bethany ($121,149) This town is the richest in the entire state of Oregon and it even has a larger population of 20,646. But the area offers much more than pricey lift tickets and celebrity spotting. Concord also is a major distribution, industrial and transportation hub. As a bonus, gun buyers aren't reliant on hit-and-miss sales or once-a-year clearance events, to save money. Indeed, it's one of the more expensive cities in the U.S. Chalk it up to the remote location of Alaska's capital, which is tucked away in the southeast corner of the state hard against the Canadian border. The typical household in Avondale Estates earns $108,299 a year, nearly twice the state median income of $55,679 and far more than the national figure of $60,293. stocks . It is one of the most educated towns in the state, with 48% of the population holding a bachelor's degree. Today it has some of the most expensive homes in North Carolina. Atherton isn't the only town touting notable wealth, though. Advertisement - Continue Reading Below. For the fourth year in a row, the suburb of Atherton, California topped Bloomberg's annual Richest Places Index. 2,047) The typical home in Fairway is worth $352,000. Millionaires building second homes in the Steamboat Springs area have done more to push up house prices than wages. 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 He remains on the Walmart board of directors, and is also the CEO of his own company, Arvest Bank. View Slideshow. Analysts say a tough 2022 has left these small-cap stocks priced for outperformance in the new year and beyond. This abandoned high school was converted into a 31-unit apartment building. 10. The area's high incomes are supported by access to high-paying jobs in nearby urban centers, which in addition to New York City, include Norwalk and Stamford in Connecticut. Median household income: $228,836 (state: $71,564), Poverty rate: 2.8% (state: 10.9%), Median home value: $1,133,100 (state: $264,900). Who said big money is smart? Not all parts of the state are low income, however. The top 20 richest towns in America all boast average household incomes above $300,000, while the top five ring up above $400,000. Median household income: $75,441 (state: $62,268), Poverty rate: 11% (state: 11.1%), Median home value: $217,400 (state: $213,300). (It's an in-state draw for all the millionaires from the Stamford area, too. Oxnard-Thousand Oaks-Ventura, California. Published 6 January 23. real estate The following list of cities is limited to "micropolitan" areas, which the Census Bureau defines as urban clusters with populations between 10,000 and 50,000, "plus adjacent territory that has a high degree of social and economic integration with the core as measured by commuting ties.". 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. Elko's fortunes rise and fall with the price of gold, so one would hope that its millionaire population is properly diversified. Perhaps best known is Hanover, N.H., which forms the northern tip of this urban agglomeration. The median household income is $94,027, and the median home value is $503,000. 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. But as anyone who works in the oil patch knows, booms and busts are an integral part of the industry. Edgeworth is a small borough of approximately 1,600 residents located some 12 miles up the Ohio River from downtown Pittsburgh. Destrehan is a Census-designated place with 11,000 residents, located about 20 miles west of downtown New Orleans. The largest companies in the area include government tech contractor Booz Allen Hamilton, Inova Health System, and government-sponsored finance giant Freddie Mac. After the analysis was over, we crowned Cary as the richest city in America for 2022. That makes for easy access to the White Mountain National Forest about 30 miles to the north. Long work hours means more stress and less family time. Median household income: $92,688 (state: $74,057), Poverty rate: 4.3% (state: 7.9%), Median home value: $358,300 (state: $252,800). Hudson boasts scores of antiques dealers, which led the charge in making the town attractive for new residents, tourists and wealthier folks in search of second homes. 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. 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. With a population of around 9000, Glencoe is one of the most popular (and exclusive) suburbs of Chicago. . Adjusted median household income: $103,100. Estimates of millionaire households provided by Phoenix Marketing International. By Jeff Reeves Some 22.6% of households earn $200,000 or more, more than five times the comparable 4.4% of households throughout Wisconsin. According to Forbes' Real-Time Billionaires Rankings, as of February 2020, New York City is the American city with the most billionaires, with 82 billionaires. One whistleblower estimated it at $200 billion. The typical household in Spring Creek earns $97,143 a year, far more than both the state median household income of $57,598 and the national median of $60,293. 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. Latest checked 2011 [1] The Church of Jesus Christ of Latter-day Saints. The median in Jenks is tens of thousands of dollars higher, at over $93,000. Greenwich and Darien, Connecticut. In Topsham, 44.9% of adults have a bachelor's degree, one of the larger shares of any small city or town in Maine and far more than the state bachelor's degree attainment rate of 30.9%. Published 21 December 22. small cap stocks "Being only 20 minutes away from Silicon Valley and 45 minutes to downtown San Francisco, [Atherton] is where many billionaires and C-Suite executives choose to reside," Rachel Swann, real-estate brokerage The Agency San Francisco managing partner, told CNBC Make It. Posted Mon, Feb 24, 2020 at 12:35 pm ET. New! In some cases, these locations benefit from being popular recreational areas or havens for wealthy retirees. Based on median household income, Mississippi is the poorest state in the country. Pound Ridge, NY (pop. Horace is a small bedroom community located roughly 10 miles southwest of downtown Fargo. 4. The boom times looked to be rolling again in North Dakota until COVID-19 gutted oil demand. A million bucks in liquid assets isn't what it used to be, but it's still really hard to amass. Mississippi: Sherwood-Audubon Area, Jackson. And thanks to abundant revenue that the state collects from oil and mineral rights, Wyoming millionaires shoulder one of the lowest tax burdens in the U.S. For those living in Idaho, the tax situation is a bit more mixed (opens in new tab).