By raw numbers, most millionaires in America can be found in and around big cities such as New York, Los Angeles and Chicago just as you would expect. The town's widespread prosperity suggests that Ocean Pointe is a desirable place to live. All 50 have among the highest share of adults with a bachelors degree in their states, and all but four exceed the U.S. bachelors degree attainment rate of 31.5%. Loudoun County. The appeal of Key West to millionaires and heck, everyone is pretty self-evident. The Federal Reserve has been aggressive in its rate hiking, and it's likely not done yet. 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: $161,641 (state: $59,445), Poverty rate: 5.8% (state: 12.8%), Median home value: $602,000 (state: $174,100). But the area offers much more than pricey lift tickets and celebrity spotting. NEW ALBANY, OH A Bloomberg report identified the 100 richest towns in America, and three Ohio cities made the cut. In many cases, the chef is why someone visits a restaurant. 2020-10-14T13:25:00Z . It became the first and only neighborhood in America to top the half-million-dollar mark. Its content is produced independently of USA TODAY. While Silicon Valley and the New York metro area make up a big chunk of this list, the richest people in America also take up residences in Arizona, Florida, Colorado and Virginia. Millionaire households: 1,840; While this is the record at the beginning of 2020, his salary will surely increase by the end of this year. Major employers in the area include Amazon, Boeing, and Microsoft. 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. 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. And, unlike more rural parts of the vacation wonderland, Laconia is just a few miles off Interstate 93. 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. Too cold outdoors? 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. Washington, D.C . Based on median household income, Mississippi is the poorest state in the country. The surrounding area is home to a number of tech companies, including Intel and Tektronix and textile companies like Columbia Sportswear and Nike. South Carolina has one of the higher poverty rates among states, at 16%. The area's population grew by 34.5% from 2013 to 2018, compared to the U.S. population growth of 3.6%. 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. In Darien, a small Census-designated place in southwest Connecticut within commuting distance of New York City, the typical household earns $210,511. ", 91 Top Dividend Stocks From Around the World. Reply. 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 median household income is $94,027, and the median home value is $503,000. 20. Destrehan is a Census-designated place with 11,000 residents, located about 20 miles west of downtown New Orleans. 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. Walmart is the largest employer in Benton County, where Centerton is located. Topsham is a Census-designated place of approximately 6,100 residents located about 25 miles north of Portland, Maine. Median household income: $222,115 (state: $65,323), Poverty rate: 3.3% (state: 14.6%), Median home value: $954,400 (state: $302,200). For the fourth straight year, Atherton topped Bloomberg's Richest Places annual index. Atherton, CA- Average household income - $450,696. View Slideshow. Examples of investable assets include cash, stocks, bonds and funds, among a bunch of other types of investments and financial products. The allures of the Key West area are well known. Places like Dickinson, located in the oil-rich Bakken Formation, were mining millionaires. If you need access to specialists not available at Northfield Hospital & Clinics, the Mayo Clinic is about 60 miles away, in Rochester. 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. Tega Cay, South Carolina, is located on a peninsula along Lake Wylie, just south of the border with North Carolina. 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. America's 100 Richest Places. The Aloha State is known for its high cost of living and a mixed picture when it comes to taxes (opens in new tab). Top 100 cities with highest median household income Previous toplist Next toplist . 1 Boca Grande. The typical home in Fairway is worth $352,000. Much of Alaska's wealth is tied to the energy business. More than one in every five households in the area earn over $200,000 a year. A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. Occasionally however, several cities of similar status and their suburbs make up an . 13 Best Vanguard Funds for the Next Bull Market. To compiler their 2020 list of the 50 richest places, Bloomberg "evaluated . 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. 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. Nearly 60% of Highland residents 25 and older hold at least a bachelor's degree, as compared to 33.3% of Utah adults. DEA / M. BORCHI // Getty Images. Billionaires say to be successful, do these simple things every day. Miami, Florida. The Summit Park micro area, which also includes Park City, is a short drive from Salt Lake City and has the second highest concentration of millionaire households of any small town in the U.S. Source: Bloomberg. West Palm Beach, Florida. That helps explain its inclusion on the list of small towns with high concentrations of millionaires. Building on this momentum, Duke Energy Corporation and the state's rural electric . 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. 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. Inverness is a suburb located some 33 miles northwest of downtown Chicago in Cook County. 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, benchmark U.S. crude oil is off about 35% over the past year. However, when it comes to the highest concentration of . 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. Mountain biking, hiking and fly fishing are just a few of the allures for the millionaire who likes the great outdoors. 2); Hillsborough, California (No. It has long been a retreat for the well-to-do of the Mid-Atlantic seeking antique shops and solitude. Christian. Incomes in the town are so high likely partly because of the residents' high level of education -- more than two-thirds of Highland Lakes residents 25 and over hold at least a bachelor's degree, one of the larger shares of any small city or town in Alabama. (adsbygoogle = window.adsbygoogle || []).push({}); With an average household income of more than $525,000, Atherton, California is the richest town in the United States, thats according to a Bloomberg report. 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. 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. By Louis Navellier All 30 Dow Stocks Ranked: The Pros Weigh In. Median household income: $132,587 (state: $52,413), Poverty rate: 1.7% (state: 15.4%), Median home value: $443,600 (state: $165,900). While many of the small cities and towns on this list have median home values of well over half a million dollars, in Brandon, most homes are worth less than $178,000. With a population of around 9000, Glencoe is one of the most popular (and exclusive) suburbs of Chicago. If your ideal summer retreat is a lakeside getaway, you could hardly do better than Laconia. Montana City is also home to some of the most expensive homes in the state. Median household income: $88,199 (state: $63,296), Poverty rate: 5.3% (state: 13.1%), Median home value: $251,300 (state: $249,800). Naturally, skiing is what first comes to mind when it comes to Breckenridge, but the area supports a wide range of sports and cultural activities through all four seasons. Median household income: $117,300 (state: $59,209), Poverty rate: 3.5% (state: 11.9%), Median home value: $373,200 (state: $173,600). With a median income of $123,220, Buckner is the wealthiest place in Kentucky. Known as the Garden Island, Kauai is one of the state's less developed locales. 3); and Cherry Hills Village, Colorado (No. The Evergreen State makes the cut because it doesn't have an income tax. We've rounded up the wealthiest citizens from 31 rich countries, including America, the UK, Canada, and Australia. 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. Scottsdale, Arizona. What had fueled this remarkable growth was oil, specifically the discovery of the Glenn Pool oil field in 1905. Of all adults in the area, 38% have a bachelor's degree or higher, compared to 33.3% of adults statewide. Median household income: $93,194 (state: $52,559), Poverty rate: 2.4% (state: 13.7%), Median home value: $331,900 (state: $219,600). Latest checked 2011 [1] The Church of Jesus Christ of Latter-day Saints. By: News 12 Staff. 10. 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. As a result, Hanover buzzes with a diverse mix of art, culture and outdoor sporting and recreational activities year-round. Visit our corporate site. 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. 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. A Division of NBC Universal, A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. 4. The Boston suburb of Winchester has a median household income of nearly $160,000 a year -- more than double the statewide median of $77,378, which itself is one of the highest among states. The bottom 90% hold less than 25% of the total wealth. Disclosure: Dan does not trade stocks or other securities. The Hudson Historic District is listed with the National Register of Historic Places. Highland, Utah, is located between Salt Lake City, the largest metro area in the state, and Provo, home to Brigham Young University, the state's largest college. 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. 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. And while it helps to be a millionaire to live in Juneau, it's increasingly difficult to become one. Jim Walton is the last heir to the Walmart fortune. The typical household earns $176,528 a year, more than twice the $68,411 state median household income and nearly three times the $60,293 national figure. Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016. 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. An 85-year Harvard study found the No. New York, The micro area even holds a charming Swiss-themed village. Cost of living: 21.1% above U.S. average. 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. 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. Overall, Tulsa in 1921 was considered a modern, vibrant city. It's a small area with a small population but a large percentage of highly educated and highly trained engineers and scientists. The median annual household income in America is just over $60,000. The Wealth Report is Knight Frank's flagship annual publication, offering a unique perspective on global wealth, prime property and investment. 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. 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. 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. 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. Published 23 January 23. Median household income: $174,750 (state: $54,938), Median home value: $856,700 (state: $146,200). 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%. revealing the wealthiest towns in the US. Over the last five years, the number of people living Ocean Pointe jumped by 44%. Of all small cities and towns in Kansas, Fairway is the only one where most homes are worth more than $300,000. Most households in the town earn more than $150,000 annually, and more than one-third earn over $200,000. "The homes in Atherton are spectacular," Swann told CNBC Make It. Percentage of global population: 1.2%. 2020 At 9:44 pm. These commodity ETFs offer investors exposure to the diverse asset class, which is a helpful hedge against inflation. 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%. At the same time, Hudson is chockablock with architectural gems. Glencoe - $308,625. Access to these two hubs for high-paying jobs is likely a major contributing factor in Belvedere's high incomes -- the city has a median household income of over $223,000 -- the highest in California and one of the highest in the nation. 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. This unincorporated town in Essex County was founded by the inventor of the modern roller shade in the 1870s. You can sum up the appeal of Edwards in one word: skiing. All of the wealthiest neighborhoods in America on Bloomberg's Richest Places Index have average household incomes over $300,000. It's easy to see why Glenwood Springs is popular with millionaires. Median household income: $214,477 (state: $59,570), Poverty rate: 4.3% (state: 15.5%), Median home value: $1,230,200 (state: $161,700). With a median household income of $156,205, Duvall is the wealthiest small city or town in the state. 5). Atherton is joined by Scarsdale, New York (No. 1 city on the list is . ), "There's something for everyone: art galleries, outdoor activities, shopping, great food. . The No. 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. 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 . 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. Weddington is a small town of approximately 11,000 residents located 16 miles south of downtown Charlotte. In Tega Cay, less than 1% of residents live below the poverty line. Median household income: $223,182 (state: $71,228), Poverty rate: 2.3% (state: 14.3%), Median home value: $2,000,000+ (state: $475,900). Glenwood Springs has collected many accolades over the years. 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). Chevy Chase Village, MD (pop. The typical household in Vermont earns about $60,000 a year, in line with the national median household income. 6. . 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. One of the primary determinants of income is education. Subscribe and turn on notifications (?) Sponsored Content (opens in new tab) Previous Next 2/25 (Image credit: Getty Images) 24. 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. Spring Creek is a small suburb of approximately 14,000 residents in Elko County in northeast Nevada.
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