Median household income: $93,194 (state: $52,559), Poverty rate: 2.4% (state: 13.7%), Median home value: $331,900 (state: $219,600). They have new homes, drive new cars, and have bright futures. Large concentrations of high-net-worth households are found in surprising locales across the U.S. 10. The town is centered by Hidden Valley Lake. 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. Realtor. Oxnard-Thousand Oaks-Ventura, California. Grant Suneson, Evan Comen and Samuel Stebbins. tech stocks The states with the highest number of the richest cities are California with 23, New Jersey with 18, and New York with 13. The median household income in Highland Lakes is more than triple the median income across Alabama as a whole. While the economies of rural areas are believed to be less exposed to these effects, the virus has adversely affected all parts of the U.S. Problematic logos: Does it really matter if Aunt Jemima and Uncle Ben get retired? 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. Looking at the poorest cities in the U.S., there are certainly some geographic patterns that emerge. Genesee is the most highly-educated small city or town in Colorado, as 79% of residents 25 and older hold at least a bachelor's degree. Oak Hill is a small city of approximately 4,600 residents located about 7 miles south of downtown Nashville. Microsoft co-founder Paul Allens estate in Atherton, CA, recently sold for a hefty $35.25 million. The typical area home is worth about $645,000, nearly double the value of the typical New Jersey home. This level of education qualifies Genesee residents for many of the high-paying jobs in the Denver area. 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 Hudson, New York, micro area has emerged as an upstate hidey-hole for the well-heeled. Known for high-income levels and a low unemployment rate, Luxembourg is the richest country in the world. The 2014 slump in energy prices touched off the state's worst recession in three decades. The Cannon River runs through town, and several parks and walking paths provide access to fishing, canoeing and kayaking. Feb 25, 2020, 3:05pm Updated on Feb 25, 2020. Top 5 fastest-growing U.S. cities for millionaires. Corporate giants shouldn't be applauded for helping to solve crises their own policies have helped cause, writes Linsey McGoey. Pinecrest, Florida, is located a few miles south of Miami, just inland from Biscayne Bay. Median household income: $123,220 (state: $48,392), Poverty rate: 11.5% (state: 17.9%), Median home value: $328,000 (state: $135,300). By Jeff Reeves Percentage of global population: 1.2%. Miami, Florida. The small city has grown in tandem with SMU and the larger Dallas metro area, increasing from a population of 4,200 in 1930 to 24,954 today. The small resort city about 160 miles west of Denver is loaded with fun stuff to do and not just in winter, when skiing is the main attraction in the Colorado Rockies. Skiing, luxury shopping, world famous film festivals the Summit Park, Utah, area has everything a millionaire could ask for and more. In many cases, the chef is why someone visits a restaurant. The Hudson Historic District is listed with the National Register of Historic Places. South Carolina has one of the higher poverty rates among states, at 16%. 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 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. 4. 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. 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. Of all adults in the area, 38% have a bachelor's degree or higher, compared to 33.3% of adults statewide. Although Torrington might be hidden in the northwest corner of the state, millionaires can't escape Connecticut's onerous tax bite (opens in new tab). 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%. In Los Alamos, most households earn over $100,000 a year. His wealth has rocketed to $10.9 billion from $4.6 billion in 2020. Median household income: $132,587 (state: $52,413), Poverty rate: 1.7% (state: 15.4%), Median home value: $443,600 (state: $165,900). For the fourth year in a row, the suburb of Atherton, California topped Bloomberg's annual Richest Places Index. Indeed, it has been cutting income taxes for several years in a row to the point that they barely exist. 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. Its content is produced independently of USA TODAY. Median household income: $75,439 (state: $60,076), Poverty rate: 6.2% (state: 11.2%), Median home value: $283,400 (state: $223,700). It also can get a bit crowded. 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. Real estate values in Winchester reflect the area's high incomes. 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%. The typical household earns $214,477 a year, more than three times both the state median household income of $59,570 and the $60,293 national figure. Over the last five years, the number of people living Ocean Pointe jumped by 44%. Small cities and towns are listed by percentage of millionaire households, from lowest to highest. The No. We have yet one of the Richest Cities in California on our list at the eight spot and that is Oxnard-Thousand Oaks-Ventura. Median household income: $180,541 (state: $63,575), Poverty rate: 1.2% (state: 13.1%), Median home value: $625,100 (state: $187,200). Edgeworth is a small borough of approximately 1,600 residents located some 12 miles up the Ohio River from downtown Pittsburgh. Nevin Rudloff October 8, 2020 . Rents jumped nationwide over the past year, but these big U.S. cities remain comparatively affordable for apartment dwellers. Click to skip ahead and jump to the 10 richest cities in the United States. West Palm Beach, Florida. In Gateway, Alaska, most households earn more than $100,000 per year, compared to the statewide median income of $76,715. 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. 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. 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. Hefty income taxes and high property taxes make the Empire State one of Kiplinger's 10 least tax-friendly states. Subscribe and turn on notifications (?) However, when it comes to the highest concentration of . 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. Destrehan is a Census-designated place with 11,000 residents, located about 20 miles west of downtown New Orleans. Loudoun County is located in the Commonwealth Virginia, with a population of 375,000 people. You might think Palm Beach would easily . What started as a small farming community in the 1870s now has some the most expensive homes in North Dakota. Fairfax County, which includes the independent cities of Fairfax City and Falls Church, remains one of the . However, also has some seriously luxurious mansions and impressively large . A Division of NBC Universal, A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. Some 22.6% of households earn $200,000 or more, more than five times the comparable 4.4% of households throughout Wisconsin. Median household income: $174,750 (state: $54,938), Median home value: $856,700 (state: $146,200). 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 . For the fourth straight year, Atherton toppedBloomberg'sRichestPlaces annual index. He's also written for Esquire magazine's Dubious Achievements Awards. The nearby world-class resorts of Vail and Beaver Creek draw big-spending skiers hoping to see and be seen all winter long. Although median income in the micro area is roughly $12,000 above than the national level, median home value beats the U.S. median by a whopping $280,900. Then oil prices collapsed in 2014 and some folks even started pulling up stakes. (It's an in-state draw for all the millionaires from the Stamford area, too. 18 Stocks Warren Buffett Is Selling (And 6 He's Buying). 5). Median household income: $80,853 (state: $59,116), Poverty rate: 4.1% (state: 11.6%), Median home value: $180,700 (state: $147,800). Only 4.5% of the community's families fall below the poverty line, and with a mean household income of $339,883, residents can boast of being some of the wealthiest in the entire state of Illinois. AI stocks have been bloodied up in recent months, but the technology's relentlessly growing importance should see the sun shine on them again. 25% of the total families in US don't even have $10,000. Median household income: $204,145 (state: $56,213), Median home value: $1,505,300 (state: $209,600). The Beehive State ranks well in every category we measured. 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. All 30 Dow Stocks Ranked: The Pros Weigh In. Reply. 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. This idyllic town has all the charms of Old Florida--a thriving fishing industry, mom-and-pop eateries, and, of course, beaches built for casual strolling. Austin, Texas. The Wealth Report is Knight Frank's flagship annual publication, offering a unique perspective on global wealth, prime property and investment. The typical Mississippi household earns just $43,567 a year, about $17,000 less than the typical American household. While this is the record at the beginning of 2020, his salary will surely increase by the end of this year. People with higher educational attainment are more likely to hold higher-paying jobs. Millionaires building second homes in the Steamboat Springs area have done more to push up house prices than wages. Around 276,400 millionaires, 623 centimillionaires and 62 billionaires live in the San Francisco Bay area, which includes Silicon Valley. 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. In Paradise Valley, just 5% of residents live in poverty. 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. The median household income in Edgeworth is $161,641, making it the wealthiest municipality in Pennsylvania. 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. Click for the full list. Based on median household income, Mississippi is the poorest state in the country. The best healthcare stocks offer investors a defensive hedge in an uncertain market.