Los Angeles, Chicago and Houston round out the top five . This is further evidenced by rapid population growth. Hard work is embedded in American culture. . The typical household in Vermont earns about $60,000 a year, in line with the national median household income. This table shows the astonishing list of wealthiest counties in America by average household income. Oxnard-Thousand Oaks-Ventura, California. In Dellwood, some 75.2% of adults have a bachelor's degree, more than twice both the state bachelor's degree attainment rate of 35.4% and the national rate of 31.5%. The Faribault-Northfield area is so desirable that Kiplinger has named it a great place to retire. One of the main reasons for this is likely a high level of education. 10 Dividend ETFs to Buy for a Diversified Portfolio. 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. Atherton is a small neighborhood of about 7,000 people and it is located in the heart of Silicon Valley. 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.". 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. And, unlike more rural parts of the vacation wonderland, Laconia is just a few miles off Interstate 93. A million bucks in liquid assets isn't what it used to be, but it's still really hard to amass. The Cannon River runs through town, and several parks and walking paths provide access to fishing, canoeing and kayaking. 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. Sign up here, Your California Privacy Rights/Privacy Policy. To clarify: That means they have at least $1 million in investable assets. Upper Saddle River Borough in Bergen County - Median Income of $171,747. With an average household income of more than $525,000, Atherton, California is the richest town in the United States, that's according to a Bloomberg report. Be that as it may, property taxes as a percentage of home value are the lowest in the U.S. By this point in our list of small towns with the highest concentrations of millionaires, it should be clear that Western ski resort towns are mighty popular with people of means. To put it another way, the purchasing power of a dollar compared to the U.S. average is $1.13 in Birmingham and $0.79 in San Jose. Sure, Utah ranks as the second richest state in the country. 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. 9. 11 March 2007: The tables provide GDP figures for cities and their surrounding urban areas in 2020. Not all parts of the state are low income, however. The Golden State's reputation as a high-tax destination is built in part on how aggressively it goes after big earners, with a 13.3% tax rate that kicks in at $1 million (for single filers) of taxable income. Naturally, this tony locale is not easy on the wallet, as evidenced by the exorbitant real estate prices. On the plus side, Massachusetts' reputation as a high-tax state is overblown (opens in new tab). By: News 12 Staff. The Aloha State is known for its high cost of living and a mixed picture when it comes to taxes (opens in new tab). Too cold outdoors? Vineyard Haven is a town on Martha's Vineyard. Built with one-acre plot minimums for most of its history, the Inverness housing stock is among the most expensive in the country. Long work hours means more stress and less family time. 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. The typical area home is worth about $1.5 million. Median household income: $204,145 (state: $56,213), Median home value: $1,505,300 (state: $209,600). Who said big money is smart? Less Diverse. Median household income: $80,513. The rules that keep American housing expensive. As a bonus, gun buyers aren't reliant on hit-and-miss sales or once-a-year clearance events, to save money. ", 91 Top Dividend Stocks From Around the World. Estimates of millionaire households provided by Phoenix Marketing International. There's been a lot of panic surrounding the mass exodus of wealthy residents from New . Once upon a time before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily Dan worked for Spy magazine, scribbled away at Time Inc. and contributed to Maxim magazine back when lad mags were a thing. A far higher than average share of workers in Buckner work as health diagnosing and treating practitioners, which are generally high paying jobs. While incomes and home values often correlate, housing in Spring Creek is more affordable than in much of Nevada. The typical Winchester home is worth $893,700, more than double the median home value of $366,800 in Massachusetts. Microsoft co-founder Paul Allen's estate sold for over $35 million in 2020. 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 rugged mountain terrain is ideal for hiking, mountain biking, camping, you name it. The typical area home is worth about $645,000, nearly double the value of the typical New Jersey home. Glenwood Springs has collected many accolades over the years. The Highest-Paid News Anchors in 2019 1. The median household income is $94,027, and the median home value is $503,000. More than half of all adults in the area have a bachelor's degree or higher, compared to 35.3% of adults living in Washington state. This island off the coast of Cape Cod the Census Bureau classifies the entire island as part of the Vineyard Haven micro area is one of the most desirable summer vacation spots in the Northeast and has long been a favorite of the rich, the famous and the powerful. 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. Greenville is a relatively short commute to New York City, providing its residents access to the many high-paying jobs. Like many prosperous communities, New Albany is growing rapidly. Loudoun County is the richest county in the USA, with an estimated average household income of $ 117,876. Large concentrations of high-net-worth households are found in surprising locales across the U.S. The typical household in Papillion earns $80,853 a year, the most of any small city or town in Nebraska and far more than the state median household income of $59,116. Top 5 fastest-growing U.S. cities for millionaires. France has been crowned the trendiest country in the world for 2023, according to the CEOWORLD magazines annual ranking of Life away from the big cities can be magical. Published 23 January 23. With an average household income of more than $525,000, it became the first and so far only community to top the half-million dollar mark since Bloomberg started compiling the index in 2017. Atherton, CA- Average household income - $450,696. Genesee has a median annual household income of nearly $160,000, more than double the state median. When you purchase through links on our site, we may earn an affiliate commission. Rock Springs is a city located at the intersection of Interstate 80 and US 191 in Sweetwater County in southwest Wyoming. Dickinson's number and percentage of millionaire households declined year-over-year. While many of the highest paying jobs tend to concentrate near large population centers, there are also smaller towns that are very prosperous. Topsham is a Census-designated place of approximately 6,100 residents located about 25 miles north of Portland, Maine. Glencoe, IL. Median household income: $114,801 (state: $78,084), Poverty rate: 4.2% (state: 9.9%), Median home value: $629,800 (state: $587,700). And just when Alaska could see an end to the downturn, COVID-19 hammered the energy sector. Not only is there no state income tax, but the government actually pays residents an annual stipend. Today it has some of the most expensive homes in North Carolina. So it should come as no surprise that Breckenridge would make the cut. The Evergreen State makes the cut because it doesn't have an income tax. 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. 10. America is often known in the world as the . But for more modest incomes, the impact is far milder, and property taxes are low (opens in new tab). Median household income: $214,477 (state: $59,570), Poverty rate: 4.3% (state: 15.5%), Median home value: $1,230,200 (state: $161,700). The city continues to attract some very educated people; about 44% of adults in the area have at least Bachelor's Degrees. 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. Tega Cay, South Carolina, is located on a peninsula along Lake Wylie, just south of the border with North Carolina. Median household income: $88,199 (state: $63,296), Poverty rate: 5.3% (state: 13.1%), Median home value: $251,300 (state: $249,800). The median . Arizona has one of the highest poverty rates of any U.S. state, at 16.1%, 2 percentage points higher than the U.S. rate. This level of education qualifies Genesee residents for many of the high-paying jobs in the Denver area. Thanks to its location on the Yampa river, Steamboat Springs is perfect for fishing, rafting, tubing and kayaking. . Atherton is the richest town in America. Here are the 20 richest counties in the U.S. and the average household incomes of each, according to DailyMail.com's report. Initially a mining camp in the 19th century, Montana City has since developed into a wealthy suburb of approximately 2,800 residents. With everything from ski resorts to beaches, the Lake Tahoe area offers year-round activities for well-heeled tourists and full-time residents alike. 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. It became the first and only neighborhood in America to top the half-million-dollar mark. The city of Williston expanded rapidly during the first half of the 2010s, driven by the explosion in shale oil drilling that once gave North Dakota the fastest-growing economy in the nation. Much of Alaska's wealth is tied to the energy business. And the long, snowy winters are perfect for the numerous ski resorts in the vicinity of Truckee and Grass Valley. In this article we take a look at the 30 richest cities in the United States. Oak Harbor itself plays host to nearby Naval Air Station Whidbey Island. Cost of living: 21.1% above U.S. average. All Rights Reserved. On the plus side, Alaska is one of the most tax-friendly states in the union (opens in new tab). For the fourth straight year, Atherton toppedBloomberg'sRichestPlaces annual index. While this is the record at the beginning of 2020, his salary will surely increase by the end of this year. The nearby world-class resorts of Vail and Beaver Creek draw big-spending skiers hoping to see and be seen all winter long. Indeed, it has been cutting income taxes for several years in a row to the point that they barely exist. 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. 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. An income of $0.88 in Birmingham equals an income of $1.27 in San Jose with the U.S as a whole having an average PCPI of $1.00. Genesee is a small Census designated place located less than 20 miles west of Denver. The town is centered by Hidden Valley Lake. But the town's signature draws are antiques and architecture. The Hudson Historic District is listed with the National Register of Historic Places. The typical Inverness household earns $180,541 a year, nearly three times the median household income of $63,575 across Illinois as a whole and the most of any small city or town in the state. With an average household income of more than $525,000, it became the first and so far only community to . The Mount Washington weather station, Prince William County, Virginia $106,200 In Gateway, Alaska, most households earn more than $100,000 per year, compared to the statewide median income of $76,715. 4); and Los Altos Hills, California (No. Unfortunately for millionaires and folks of lesser means, New York State taxes take a bite. A 35-minute train ride from New York City, the town sports quaint shops and top-rated schools . West Virginia has the lowest bachelor's degree attainment rate of any state, at 20.3%. Find the full list of America's 100 Richest Places on Bloomberg. This abandoned high school was converted into a 31-unit apartment building. Greenville's median home value is more than triple that of New York state, at over $950,000. Atherton is a small neighborhood of about 7,000 people and it is located in the heart of . 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. Building on this momentum, Duke Energy Corporation and the state's rural electric . Sponsored Content (opens in new tab) Previous Next 2/25 (Image credit: Getty Images) 24. Take Bloomberg's just-released 2020 list of the country's 100 richest places, which ranks towns by average household income based on U.S. Census data. Wanna be a billionaire? Looking to buy a car? Spring Creek is a small suburb of approximately 14,000 residents in Elko County in northeast Nevada. Click for the full list. In Avondale Estates, 74.8% of adults have at least a bachelor's degree, the largest share of any city in Georgia and more than twice the state college attainment rate of 30.7%. Check out the latest list of American small towns teeming with well-to-dos. Higher prices have been a major headache for investors, but these best inflation-proof stocks could help ease the impact. As is often the case in wealthy communities, real estate is not cheap in Darien. 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. A college degree can provide the holder with a much wider range of job opportunities, and the jobs themselves tend to be higher income. Each has an average household income of over $400,000. Edgeworth is a small borough of approximately 1,600 residents located some 12 miles up the Ohio River from downtown Pittsburgh. Atherton, California tops the list for the fourth . Here in Utah, things couldn't be more odd. 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. It is one of the most educated towns in the state, with 48% of the population holding a bachelor's degree. Great Falls is just across the Potomac River from Maryland and a short commute away from Washington, D.C., giving residents access to the many high-paying jobs available in the area in government and with government contractors. (See below for yet even more examples.) At the same time, the town offers easy access to several major cities. Posted Mon, Feb 24, 2020 at 12:35 pm ET. Median household income: $105,000 (state: $57,422), Poverty rate: 2.7% (state: 12.4%), Median home value: $352,200 (state: $145,400). 5,104) over $200,000: 2. 13 Best Vanguard Funds for the Next Bull Market. That helps explain its inclusion on the list of small towns with high concentrations of millionaires. Summary: The Wealthiest Cities in America For 2022. Median household income: $161,641 (state: $59,445), Poverty rate: 5.8% (state: 12.8%), Median home value: $602,000 (state: $174,100). The Beehive State isn't as tax-friendly as it used to be (opens in new tab). 100. worldwide. People with higher educational attainment are more likely to hold higher-paying jobs. The self-made hyper-rich say these things are the key to getting there. For year-round activities, the Heber Valley features five 18-hole championship golf courses, three state parks and a historic tourism railroad. DEA / M. BORCHI // Getty Images. This prosperity has likely attracted many new residents to Jenks -- the population grew by more than 24%, from less than 18,000 in 2013 to over 21,000 in 2018. Median household income: $222,115 (state: $65,323), Poverty rate: 3.3% (state: 14.6%), Median home value: $954,400 (state: $302,200). Another appealing aspect of the area for millionaires: It's a straight shot down Interstate 80 to reach Sacramento, the state capital, and San Francisco. These commodity ETFs offer investors exposure to the diverse asset class, which is a helpful hedge against inflation. By Dan Burrows America's 50 richest towns: Silicon Valley community leads the list for the fourth year in a row with average household income of $525,000. tech stocks Boating, fishing, snorkeling, scuba diving and lazing on the beach are just some of Key West's draws. The aforementioned Park City, which hosts Robert Redford's Sundance Film Festival, also boasts several world-class ski resorts. 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. 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. Within five years, Tulsa had grown from a rural crossroads town in the former Indian Territory into a boomtown with more than 27 / 52. 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. Most households in the town earn more than $150,000 annually, and more than one-third earn over $200,000. 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. The town also has a poverty rate of 4.1%, less than a quarter of the state poverty rate which is 17.8%. One of the primary determinants of income is education. All. The city's great appeal is no secret. 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. 65 Best Dividend Stocks You Can Count On in 2020. Bridgeport's median is just over $80,000, which is the highest of any municipality in the state but one of the lowest on this list. Examples of investable assets include cash, stocks, bonds and funds, among a bunch of other types of investments and financial products. 24/7 Wall St. reviewed the median annual household income in over 2,600 cities, towns, villages, and census designated places to identify the richest town in every state. #2. Some 22.6% of households earn $200,000 or more, more than five times the comparable 4.4% of households throughout Wisconsin. By comparison, the median household income across Pennsylvania is $59,445. Mountain biking, hiking and fly fishing are just a few of the allures for the millionaire who likes the great outdoors. 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. In Los Alamos, most households earn over $100,000 a year. 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. Austin, Texas. Mississippi: Sherwood-Audubon Area, Jackson. As of 2020, Jim Walton's net worth is $44.6 billion, placing him at 11th on this list of the richest people in America. 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. 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).