The 150 richest cities in the world by GDP in 2020. The median household income in Paradise Valley is nearly four times as high as the median in Arizona. 5,104) over $200,000: 2. 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). The Kapaa micropolitan area includes the entirety of Kauai, Hawaii's fourth-largest island. However, also has some seriously luxurious mansions and impressively large . But for more modest incomes, the impact is far milder, and property taxes are low (opens in new tab). 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. But the town's signature draws are antiques and architecture. This unincorporated town in Essex County was founded by the inventor of the modern roller shade in the 1870s. Click to skip ahead and jump to the 10 richest cities in the United States. Indeed, it has been cutting income taxes for several years in a row to the point that they barely exist. The states with the highest number of the richest cities are California with 23, New Jersey with 18, and New York with 13. 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. Posted Mon, Feb 24, 2020 at 12:35 pm ET. 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. Inverness is a suburb located some 33 miles northwest of downtown Chicago in Cook County. Port Royal, Naples, Florida. Individuals with greater educational attainment are more likely to have high-paying jobs. Destrehan is a Census-designated place with 11,000 residents, located about 20 miles west of downtown New Orleans. stocks 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. Los Alamos sounds like an unlikely place to find a lot of millionaires, but we're talking about the concentration of millionaire households, not the total number of millionaires. Over the last five years, the number of people living Ocean Pointe jumped by 44%. Its content is produced independently of USA TODAY. They have new homes, drive new cars, and have bright futures. Top 5 fastest-growing U.S. cities for millionaires. 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. We have yet one of the Richest Cities in California on our list at the eight spot and that is Oxnard-Thousand Oaks-Ventura. Bloomberg created and ordered this list by annual household income. Known for high-income levels and a low unemployment rate, Luxembourg is the richest country in the world. As is often the case in wealthy communities, real estate is not cheap in Darien. America's 100 richest towns have been revealed by Bloomberg's annual index, with the highest-paid town averaging an income of over $500,000. Median household income: $127,351 (state: $59,393), Poverty rate: 4.8% (state: 14.1%), Median home value: $509,900 (state: $287,300). Watch on. Data on household incomes and home values come from the U.S. Census Bureau. Cost of living: 21.1% above U.S. average. In most states, the wealthiest town has a median household income that is two or three times higher than the median across the state as a whole. The Phoenix suburb has a median home value of just over $1.5 million -- by far the highest of any small city or town in the state. Scarsdale, NYsales price of $1.2 million, Scarsdale is the richest town on the East Coast. A Division of NBC Universal, A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. Thanks to its location on the Yampa river, Steamboat Springs is perfect for fishing, rafting, tubing and kayaking. Avondale Estates is a small city of approximately 3,100 residents located seven miles east of downtown Atlanta. Click for the full list. AI stocks have been bloodied up in recent months, but the technology's relentlessly growing importance should see the sun shine on them again. ETFs The median household income is $94,027, and the median home value is $503,000. High-income areas tend to have well-educated populations -- and Duvall is no exception. The Oak Harbor, Washington, micro area actually encompasses all of Whidbey Island. 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. In fact, according to the Organization for Economic Co-operation and Development, the U.S. ranks 10th in the number of hours worked per country (Mexico, C 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. This table shows the astonishing list of wealthiest counties in America by average household income. Median household income: $74,172 (state: $43,567), Poverty rate: 3.8% (state: 20.8%), Median home value: $177,900 (state: $114,500). But it's Colorado's status as a tax-friendly state for both retirees and working residents that helps make Edwards a great deal for year-round living. Median household income: $210,511 (state: $76,106), Median home value: $1,461,100 (state: $272,700). As residents like to point out, few towns have a groomed ski area right in their downtown that is accessible to all. 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, Portugal Golden Visa Program. 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. The median . 4); and Los Altos Hills, California (No. Median household income: $73,015 (state: $45,726), Poverty rate: 8.8% (state: 17.6%), Median home value: $170,700 (state: $123,300). Median household income: $92,052 (state: $47,942), Poverty rate: 3.6% (state: 19.4%), Median home value: $234,500 (state: $157,800). Median household income: $180,541 (state: $63,575), Poverty rate: 1.2% (state: 13.1%), Median home value: $625,100 (state: $187,200). One of the primary determinants of income is education. What started as a small farming community in the 1870s now has some the most expensive homes in North Dakota. In Essex Junction, the wealthiest small city or town in the state, the median household income is just $75,439. Hefty income taxes and high property taxes make the Empire State one of Kiplinger's 10 least tax-friendly states. Happily for residents, Washington is among the most friendly states for taxes (opens in new tab). Median household income: $84,075 (state: $56,499), Poverty rate: 2.5% (state: 13.6%), Median home value: $206,600 (state: $159,100). 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. The county seat of Loudoun is in Leesburg, where most administration activities take place. Feb 25, 2020, 3:05pm Updated on Feb 25, 2020. For the fourth straight year, Atherton topped Bloomberg's Richest Places annual index. 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. Although gold mining is no longer much of a growth area, pulling the yellow metal from the ground does remain a productive endeavor. This time the list is from Bloomberg. Microsoft co-founder Paul Allens estate in Atherton, CA, recently sold for a hefty $35.25 million. Bethany is the most affluent neighborhood in Oregon. For example, your friend asks you, "how much money do you have . 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.". Heres how retirees can benefit from changes in required minimum distributions (RMDs), qualified longevity annuities and IRA catch-up contributions. This is followed by Los Angeles with 52 billionaires, and San Francisco and Chicago, who each have 44 billionaires. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange and hosted a weekly video segment on equities. Chevy Chase Village, MD (pop. Median household income: $222,115 (state: $65,323), Poverty rate: 3.3% (state: 14.6%), Median home value: $954,400 (state: $302,200). The bottom 90% hold less than 25% of the total wealth. The boom times looked to be rolling again in North Dakota until COVID-19 gutted oil demand. . Just 4% of Gateway households have an annual income of less than $10,000, while 12% of households have an annual income greater than $200,000. Atherton is a small neighborhood of about 7,000 people and it is located in the heart of Silicon Valley. All of the wealthiest neighborhoods in America on Bloomberg's Richest Places Index have average household incomes over $300,000. . Boating, fishing, snorkeling, scuba diving and lazing on the beach are just some of Key West's draws. 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? Due in part to a warm climate, proximity to the ocean, and access to a major city, homes in Pinecrest are expensive compared to statewide home values. As we shall see, another area near Laconia makes this list of small towns with a high percentage of millionaires. 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. Median household income: $123,564 (state: $51,015), Median home value: $316,500 (state: $154,800). 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. Lexington has become one of the wealthiest cities in America, with the typical home costing $1,361,431 in 2022, according to Zillow. 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. "Sprawling residences set amidst landscaped gardens and a beautiful backdrop.". The city's great appeal is no secret. The population of Horace has grown rapidly over the past several decades, from 276 residents in 1970 to 2,660 today. 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. Investable assets include education/custodial accounts, individually owned retirement accounts, stocks, options, bonds, mutual funds, managed accounts, hedge funds, structured products, ETFs, cash accounts, annuities and cash value life insurance policies. Atherton, CA- Average household income - $450,696. The micro area even holds a charming Swiss-themed village. ; The 15 Richest Countries in the World Microsoft co-founder Paul Allen's estate sold for over $35 million in 2020. Greenville's median home value is more than triple that of New York state, at over $950,000. Launching and succeeding with an innovative, one-of-a-kind business is an exhilarating yet daunting journey. Median household income: $100,641 (state: $76,715), Median home value: $296,500 (state: $265,200). Places like Dickinson, located in the oil-rich Bakken Formation, were mining millionaires. (STACKER) - In April 1934, the U.S. recorded its highest wind speed ever, a gust of 231 miles per hour at Mount Washington Observatory in New Hampshire. Winnetka - $311,902. Located in Washington County, Arkansas, the small town of Goshen is considered to be the wealthiest in the state. Duvall is a small city of about 8,000 people located 25 miles northeast of Seattle. Median household income: $129,081 (state: $58,580), Poverty rate: 0.7% (state: 11.7%), Median home value: $301,700 (state: $142,300). 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%. The typical actual cost that students . Relative to much of the country, median incomes do not vary much from place to place in Vermont. 6. Jim Walton is the last heir to the Walmart fortune. The median annual household income in Ocean Pointe is $114,801, more than in any other small city or town in Hawaii. Most households in the town earn more than $150,000 annually, and more than one-third earn over $200,000. The aforementioned Park City, which hosts Robert Redford's Sundance Film Festival, also boasts several world-class ski resorts. Nearly 60% of Highland residents 25 and older hold at least a bachelor's degree, as compared to 33.3% of Utah adults. Looking to buy a car? Indeed, benchmark U.S. crude oil is off about 35% over the past year. Income distibution for all U.S. cities. 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. It became the first and only neighborhood in America to top the half-million-dollar mark. His wealth has rocketed to $10.9 billion from $4.6 billion in 2020. Median household income: $176,528 (state: $68,411), Poverty rate: 0.3% (state: 10.1%), Median home value: $619,000 (state: $211,800). NY 10036. Rents jumped nationwide over the past year, but these big U.S. cities remain comparatively affordable for apartment dwellers. One of the main reasons for this is likely a high level of education. The nearby world-class resorts of Vail and Beaver Creek draw big-spending skiers hoping to see and be seen all winter long. A 35-minute train ride from New York City, the town sports quaint shops and top-rated schools . Horace is a small bedroom community located roughly 10 miles southwest of downtown Fargo. 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. This is further evidenced by rapid population growth. As for taxes, millionaires could do worse. The city continues to attract some very educated people; about 44% of adults in the area have at least Bachelor's Degrees. Either way, these are the 25 smallest cities and towns boasting the highest concentrations of millionaire households in the U.S. And just for good measure, we're also providing some important tax and cost-of-living information. The typical Hampton household earns $92,688 a year, the most of any small town in New Hampshire and far more than the $74,057 state median household income. So it should come as no surprise that Breckenridge would make the cut. Who said big money is smart? It also helps that New Hampshire is a relatively tax-friendly state (opens in new tab). By Dan Burrows Here are . That makes for easy access to the White Mountain National Forest about 30 miles to the north. The facility has a nearly $3billion annual budget and employs some 13,000 people -- about two-thirds of whom have a college degree. High-end restaurants, plush lodges and spas are just some of the ways that millionaires can pamper themselves. Less than 2% of the town's 5,500 residents live below the poverty line, a fraction of the state poverty rate. Connecticut's median annual household of $76,106 is about $26,000 more than the median nationwide. On the plus side, Alaska is one of the most tax-friendly states in the union (opens in new tab). While the median income in Essex Junction is about $15,000 more than the statewide median, it falls below the overall median in several other states, including neighboring Massachusetts and nearby Connecticut. 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. Pound Ridge, NY (pop. 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). Every one of the top 20 towns have households that bring in at least $300,000 a year. With a population of around 9000, Glencoe is one of the most popular (and exclusive) suburbs of Chicago. The 25 Best Low-Fee Mutual Funds You Can Buy. 10. Published 11 January 23. stocks Buzz60's Tony Spitz has the details. August 25, 2020. In comparison with most other states, Mississippi's most expensive neighborhood isn't actually all that expensive especially when you consider that the median home value in Florida is more than $8 million. Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts. Residents seeking a break from quaint New England living can drive to Boston in less than 90 minutes. 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. 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. More than 9% of Williston's households are considered to have millionaire status, but the absolute number of millionaire households actually declined from 2019. Greenville is a relatively short commute to New York City, providing its residents access to the many high-paying jobs. And, unlike more rural parts of the vacation wonderland, Laconia is just a few miles off Interstate 93. Weddington is a small town of approximately 11,000 residents located 16 miles south of downtown Charlotte. The Top 10 CHEAPEST Cities to live in the United States for 2020. 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%. Walmart is the largest employer in Benton County, where Centerton is located. The typical household earns $127,351 a year, more than double the $59,393 the typical Oregon household earns. People with higher educational attainment are more likely to hold higher-paying jobs. Visit our corporate site. One whistleblower estimated it at $200 billion. Let's break out of Northern California and talk about an expensive Florida neighborhood - Port Royal, located in Naples. 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. Built with one-acre plot minimums for most of its history, the Inverness housing stock is among the most expensive in the country. Wealthy areas tend to be home to well-educated populations -- and Bloomfield Hills is no exception. All four have average incomes upwards of $400,000. 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. Subscribe and turn on notifications (?) All 30 Dow Stocks Ranked: The Pros Weigh In. Latest checked 2011 [1] The Church of Jesus Christ of Latter-day Saints. The median annual household income is over $228,000 -- more than triple that of the state. Hard work is embedded in American culture. He has written for The Wall Street Journal, Bloomberg, Consumer Reports, Senior Executive and Boston magazine, and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among other publications. Median household income: $214,477 (state: $59,570), Poverty rate: 4.3% (state: 15.5%), Median home value: $1,230,200 (state: $161,700). 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. Seattle, Tacoma, and Bellevue combine to become some of the richest cities in America. In many cases, the chef is why someone visits a restaurant. Realtor. Martha's Vineyard has 17,000 or so year-round residents, but the population can swell to 200,000 during peak summer months. Given the school's very highly selective . 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. Summary: The Wealthiest Cities in America For 2022. The typical home in University Park is worth $1.2 million, compared to the median home value of $161,700 statewide. The average household income of people in this town is calculated as $450,696. It also has a trio of 18-hole golf courses. Sure, Utah ranks as the second richest state in the country. Unfortunately for millionaires and folks of lesser means, New York State taxes take a bite. The typical Winchester home is worth $893,700, more than double the median home value of $366,800 in Massachusetts. Darien is the wealthiest small municipality in one of the wealthiest states. It has ranked in the top five of Outside magazine's best places to live in America, and Southern Methodist University once named it the "Most Vibrant Small Town Arts Environment in the United States. 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. 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. 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). 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. The Federal Reserve has been aggressive in its rate hiking, and it's likely not done yet. Median homes prices top the U.S. median by more than $159,000. 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. Hot springs, rafting, kayaking, fishing, hiking, mountain biking and golf, among many other activities, make Glenwood Springs a year-round destination. Skiing, luxury shopping, world famous film festivals the Summit Park, Utah, area has everything a millionaire could ask for and more. Edgeworth was originally developed in the late 19th century as a haven for managers and professionals wanting to escape the pollution of industrialized Pittsburgh, and today it has some of the most expensive homes in the state. America's 100 Richest Places.