Most such agglomerations are economically, socially and culturally dominated by one city at their centre. Occasionally however, several cities of similar status and their suburbs make up an . 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. A million bucks in liquid assets isn't what it used to be, but it's still really hard to amass. 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. 24/7 Wall Street is a USA TODAY content partner offering financial news and commentary. 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 . Raleigh-Durham International Airport. The typical home in Papillion is worth $180,700, far more than the $151,100 median home value in neighboring Omaha and the $147,800 state median. . One characteristic these towns have in common is a high level of education. Lexington has become one of the wealthiest cities in America, with the typical home costing $1,361,431 in 2022, according to Zillow. It also helps that New Hampshire is a relatively tax-friendly state (opens in new tab). List of Top 10 Highest Paid News Anchors in India. A Division of NBC Universal, A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. 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. According to Niche, the national percentage is 20%. The typical actual cost that students . The median annual household income in Ocean Pointe is $114,801, more than in any other small city or town in Hawaii. A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. He's also written for Esquire magazine's Dubious Achievements Awards. Median household income: $159,536 (state: $77,378), Poverty rate: 2.5% (state: 10.8%), Median home value: $893,700 (state: $366,800). Median household income: $106,285 (state: $54,325), Poverty rate: 3.7% (state: 14.1%), Median home value: $196,800 (state: $135,400). Then oil prices collapsed in 2014 and some folks even started pulling up stakes. The Beehive State ranks well in every category we measured. For example, your friend asks you, "how much money do you have . Published 17 January 23. places to live Mountain biking, hiking and fly fishing are just a few of the allures for the millionaire who likes the great outdoors. 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? 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. 12 Cheapest Small Towns in America 2020. The micro area even holds a charming Swiss-themed village. Today it has some of the most expensive homes in North Carolina. Heres how it works. Known as the Garden Island, Kauai is one of the state's less developed locales. To ensure accuracy, we only considered places where the margin of error for population and median household income was less than 10%. 6. The Aloha State is known for its high cost of living and a mixed picture when it comes to taxes (opens in new tab). In Essex Junction, the wealthiest small city or town in the state, the median household income is just $75,439. 20. Burlington, the largest city in the state, sits less than 10 miles west of Essex Junction. In others, a particular industry drives local wealth. 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. A relatively low-income state, New Mexico is one of only seven states nationwide where most households earn less than $50,000 a year. Given the school's very highly selective . . The typical home in Rock Springs is worth $217,400, slightly more than the $213,300 state median home value. Scarsdale, NYsales price of $1.2 million, Scarsdale is the richest town on the East Coast. Cost of living: 21.1% above U.S. average. Loudoun County is the richest county in the USA, with an estimated average household income of $ 117,876. The typical home in New Albany is worth $494,600, more than three times the state median home value of $140,000. Its closest competitor, the quaint Hamptons village of Sagaponack, had a median price that, at $3.9 million, was about half of Atherton's. Keep reading for a closer look at the 27 most expensive . A college degree can provide the holder with a much wider range of job opportunities, and the jobs themselves tend to be higher income. 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. New York, 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 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. Seattle, Tacoma, and Bellevue combine to become some of the richest cities in America. Published 24 January 23. recession In Tega Cay, less than 1% of residents live below the poverty line. 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. . Unfortunately for millionaires and folks of lesser means, New York State taxes take a bite. Everything costs more in Juneau. That makes for easy access to the White Mountain National Forest about 30 miles to the north. Millionaire households: 1,840; 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. Dallas. At the same time, Hudson is chockablock with architectural gems. Laconia, New Hampshire. Connecticut's median annual household of $76,106 is about $26,000 more than the median nationwide. If your ideal summer retreat is a lakeside getaway, you could hardly do better than Laconia. Naturally, this tony locale is not easy on the wallet, as evidenced by the exorbitant real estate prices. It is worth noting that the data used for this story represents a time before the coronavirus pandemic. Centerton is situated next to Bentonville, the home to Walmart's corporate offices and its roughly 17,000 employees. That helps explain its inclusion on the list of small towns with high concentrations of millionaires. The typical Clarkson Valley household earns about $171,000 a year, more than three times the income the typical Missouri household earns. 18 Stocks Warren Buffett Is Selling (And 6 He's Buying). Visit our corporate site. Median household income: $88,199 (state: $63,296), Poverty rate: 5.3% (state: 13.1%), Median home value: $251,300 (state: $249,800). Horace is a small bedroom community located roughly 10 miles southwest of downtown Fargo. The town's widespread prosperity suggests that Ocean Pointe is a desirable place to live. Duvall is a small city of about 8,000 people located 25 miles northeast of Seattle. 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. Tiny Elko, Nevada, owes its high concentration of millionaires to its status as the capital of Nevada's gold mining industry. To compiler their 2020 list of the 50 richest places, Bloomberg "evaluated . Check out the latest list of American small towns teeming with well-to-dos. Median household income: $235,669 (state: $81,868), Poverty rate: 1.6% (state: 9.4%), Median home value: $1,090,400 (state: $305,500). 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. Scottsdale, Arizona. Heres how retirees can benefit from changes in required minimum distributions (RMDs), qualified longevity annuities and IRA catch-up contributions. The typical area home is worth about $1.5 million. . This helps qualify Highland residents for the many high paying jobs available in the area, such as those in higher education, health care, and tech. Genesee is a small Census designated place located less than 20 miles west of Denver. NY 10036. Much of Alaska's wealth is tied to the energy business. The top 20 richest towns in America all boast average household incomes above $300,000, while the top five ring up above $400,000. 10. The county seat of Loudoun is in Leesburg, where most administration activities take place. In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics and more. There's been a lot of panic surrounding the mass exodus of wealthy residents from New . More than 8,000 people call Upper Saddle River in Bergen County home. Reply. In winter, it's all about skiing. Idaho's median annual household income is just over $53,000, which is lower than the majority of states. 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. Whitefish Bay is a small village of 14,000 residents located less than 10 miles north of downtown Milwaukee. Median household income: $123,564 (state: $51,015), Median home value: $316,500 (state: $154,800). The No. 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). In this article we take a look at the 30 richest cities in the United States. Median household income: $131,354 (state: $63,473), Poverty rate: 1.5% (state: 10.9%), Median home value: $293,800 (state: $185,000). 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. By comparison, the median household income across Pennsylvania is $59,445. Elko's fortunes rise and fall with the price of gold, so one would hope that its millionaire population is properly diversified. Median household income: $71,111 (state: $53,089), Poverty rate: 3.6% (state: 13.8%), Median home value: $364,600 (state: $192,300). There are six cities in where the median household income is less than $20,000: (1) Livingston . All. (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. The typical Montana City household earns $93,194 a year, the most of any small city or town in Montana and far more than the $52,559 state median household income. Pound Ridge, NY (pop. 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. Median household income: $92,688 (state: $74,057), Poverty rate: 4.3% (state: 7.9%), Median home value: $358,300 (state: $252,800). 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. The self-made hyper-rich say these things are the key to getting there. Fully 8.7% of Heber's 9,567 households have at least $1 million in investable assets. Small cities and towns are listed by percentage of millionaire households, from lowest to highest. Kip ETF 20: The Best Cheap ETFs You Can Buy. Darien is the wealthiest small municipality in one of the wealthiest states. New Mexico's personal income tax rates top out at 4.9% on taxable income over $16,000 for single filers and over $24,000 for married couples filing jointly. 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. Indeed, it has been cutting income taxes for several years in a row to the point that they barely exist. In some cases, these locations benefit from being popular recreational areas or havens for wealthy retirees. In fact, every season challenges the next for which is more beautiful.". 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. 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. Residents seeking a break from quaint New England living can drive to Boston in less than 90 minutes. Most homes in Belvedere are worth more than $2 million. This is further evidenced by rapid population growth. Oxnard-Thousand Oaks-Ventura, California. Nearly 60% of Highland residents 25 and older hold at least a bachelor's degree, as compared to 33.3% of Utah adults. This abandoned high school was converted into a 31-unit apartment building. A wealthy suburb of the Omaha metro area, Papillion has grown from approximately 1,000 residents in 1950 to more than 20,000 today. Of all area residents 25 and older, 70.6% have a bachelor's degree or higher compared to 28.6% of adults across the state as a whole. Does it really matter if Aunt Jemima and Uncle Ben get retired? It is a short drive from Charlotte. The sun-kissed island and nearby neighbors offer a tropical paradise in the good ol' U.S. of A. 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. In Darien, a small Census-designated place in southwest Connecticut within commuting distance of New York City, the typical household earns $210,511. 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. By Dan Burrows West Virginia has the lowest bachelor's degree attainment rate of any state, at 20.3%. Hot springs, rafting, kayaking, fishing, hiking, mountain biking and golf, among many other activities, make Glenwood Springs a year-round destination. The high incomes in Glen Ridge are evident by real estate values. Hefty income taxes and high property taxes make the Empire State one of Kiplinger's 10 least tax-friendly states. Top 100 cities with highest median household income Previous toplist Next toplist . 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. Click to skip ahead and jump to the 10 richest cities in the United States. Median household income: $106,288 (state: $48,059), Median home value: $295,600 (state: $166,800). The median in Jenks is tens of thousands of dollars higher, at over $93,000. Winnetka - $311,902. Atherton is joined by Scarsdale, New York (No. 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. Pinecrest, Florida, is located a few miles south of Miami, just inland from Biscayne Bay. 27 / 52. The typical Whitefish Bay household earns $117,300 a year, nearly twice the $59,209 state median household income and the $60,293 national figure. Median household income: $153,417 (state: $53,267), Poverty rate: 5.5% (state: 14.8%), Median home value: $919,800 (state: $196,800). For the second year since Bloomberg started to compile the Richest 100, the nation's top spot is Atherton, California. 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. 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. High-income areas tend to have well-educated populations -- and Duvall is no exception. A 35-minute train ride from New York City, the town sports quaint shops and top-rated schools . The 150 richest cities in the world by GDP in 2020. Seattle-Tacoma-Bellevue. The median . 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. Posted Mon, Feb 24, 2020 at 12:35 pm ET. A steep drop in oil prices first sparked pain across the Bakken about five years ago. 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 Faribault-Northfield area is so desirable that Kiplinger has named it a great place to retire. 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. With nearly a $12 million annual salary, Walters was one of the highest-paid news anchors . The area's population grew by 34.5% from 2013 to 2018, compared to the U.S. population growth of 3.6%. 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. Most homes in Pinecrest are worth over $900,000, while most Florida homes are worth less than $200,000. The boom times looked to be rolling again in North Dakota until COVID-19 gutted oil demand. 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. Port Royal, Naples, Florida. Median household income: $180,541 (state: $63,575), Poverty rate: 1.2% (state: 13.1%), Median home value: $625,100 (state: $187,200). Wealthy areas tend to be home to well-educated populations -- and Bloomfield Hills is no exception. Walmart is the largest employer in Benton County, where Centerton is located. 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. But the area offers a wealth of outdoor fun year-round. The surrounding area is home to a number of tech companies, including Intel and Tektronix and textile companies like Columbia Sportswear and Nike. A far higher than average share of workers in Buckner work as health diagnosing and treating practitioners, which are generally high paying jobs. Less Diverse. Grant Suneson, Evan Comen and Samuel Stebbins. Fitness buffs have plenty of options: In the snowy Minnesota winter, you can cross-country ski along miles of groomed trails or snowshoe through Carleton's Cowling Arboretum. 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). Clarkson Valley is the only small city or town in the state where more than 75% of the adult population has a bachelor's degree or higher. Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts. Prince William County, Virginia $106,200 The 2014 slump in energy prices touched off the state's worst recession in three decades. 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. 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. The typical Spring Creek home is worth $225,400, less than the $242,400 state median home value. Spring Creek is a small suburb of approximately 14,000 residents in Elko County in northeast Nevada. Here is the list of top 14 wealthiest towns in America as of March 2023 1. 12. As we shall see, another area near Laconia makes this list of small towns with a high percentage of millionaires. Median household income: $93,364 (state: $51,424), Median home value: $205,100 (state: $130,900). ETFs 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 . Its content is produced independently of USA TODAY. 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%. Median household income: $74,172 (state: $43,567), Poverty rate: 3.8% (state: 20.8%), Median home value: $177,900 (state: $114,500). With its covered bridges, forests and rivers, the scenery is gorgeous. Analysts say a tough 2022 has left these small-cap stocks priced for outperformance in the new year and beyond. For the fourth year in a row, the suburb of Atherton, California topped Bloomberg's annual Richest Places Index. But high concentrations of millionaires can be found in some far-flung places too. You might think Palm Beach would easily . This city in the oil-rich Bakken Formation soon found itself home to fracking millionaires. All of the wealthiest neighborhoods in America on Bloomberg's Richest Places Index have average household incomes over $300,000. 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. All 30 Dow Stocks Ranked: The Pros Weigh In. 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. 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. And don't forget the incomparable sunsets. Number of individuals with a net worth of $5 million or more: 36,515. By Kyle Woodley 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 Cannon River runs through town, and several parks and walking paths provide access to fishing, canoeing and kayaking. Loudoun County. In Los Alamos, most households earn over $100,000 a year. But the area offers much more than pricey lift tickets and celebrity spotting. Median household income: $127,351 (state: $59,393), Poverty rate: 4.8% (state: 14.1%), Median home value: $509,900 (state: $287,300). Five-star skiing at the Deer Valley and Sundance ski resorts is roughly a half-hour away. This is followed by Los Angeles with 52 billionaires, and San Francisco and Chicago, who each have 44 billionaires. "Oak Harbor is usually regarded as the poorer but more developed stepsister when compared to other Whidbey municipalities," notes the Whidbey News-Times. 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. Disclosure: Dan does not trade stocks or other securities. For year-round activities, the Heber Valley features five 18-hole championship golf courses, three state parks and a historic tourism railroad. Here in Utah, things couldn't be more odd. Median household income: $100,641 (state: $76,715), Median home value: $296,500 (state: $265,200). The net impact of accounting for differences in the purchasing power of a dollar in . America's 100 Richest Places. New Albany is a suburb of the Columbus metro area, located less than 15 miles northeast of the Ohio state capital. While this is the record at the beginning of 2020, his salary will surely increase by the end of this year. Median household income: $159,226 (state: $68,811), Poverty rate: 5.5% (state: 10.9%), Median home value: $694,900 (state: $313,600). Median household income: $223,182 (state: $71,228), Poverty rate: 2.3% (state: 14.3%), Median home value: $2,000,000+ (state: $475,900). More than 10% of Alaska residents live in poverty, yet the poverty rate in Gateway is just 4.2%.