100 richest cities in america

Another factor to consider is that overall wealth has declined in 2022, Amoils said in a paper released alongside the report. The typical San Francisco area household earns $96,677 annually. Displayed are the top 100. Another interesting fact about the city? 4. A Division of NBC Universal. Web^ Including the Belgian municipalities of Lanaken, Riemst and Maasmechelen to the west and Vis to the south. The report links this to major American companies moving their headquarters to these cities. From 2012 to 2022, the Florida city saw a millionaire growth rate of 90%. Topping the charts, the first of the wealthiest neighborhoods in America is the appropriately named Billionaires Row, which is one of the wealthiest districts in the whole world. Some of the biggest companies with offices in the city include Roku, Sees Candies, and a handful of software companies (Saratoga is on the outskirts of Silicon Valley). Correction: This article has been updated to correct the number of millionaires who live in New York City. Sign up now:Get smarter about your money and career with our weekly newsletter, Top 10 U.S. towns where millionaires are buying second homes3 of them are in Florida, I flew first class for the first time everheres why the upgrade from economy was worth it, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. Lexington is northwest of Boston, just 10 miles from downtown. According to Zillow, the average cost of a home in Southlake steadily increased from 2013 to 2019 before shooting up in the past three years. According toSotheby's listings, homes are currently on sale in the area ranging from $1.9 million to $89 million. (That said, the latest five-year ACS accounts for years 20142018. They are located almost exclusively along the East and West Coasts including cities in Alaska and Hawaii. University Park High concentrations of high incomes are often found in regions with extreme income inequality. Yet another New Jersey community to make this list of the wealthiest towns in America, Essex Fells is just a short drive west of Glen Ridge. Only the San Francisco Bay Area, Singapore and Houston saw growth. Other states with five or more locations included Texas, Maryland and Illinois. It would take almost three households combined in the Laredo, Texas metropolitan area the poorest in the country to earn as much money. While a healthy job market is important for any metro area's economy, the kinds of jobs available contribute significantly to income levels. Income inequality is a growing problem in the United States. Area colleges and universities awarded 17,891 degrees in 2015 alone. Nationwide, 31.3% of American adults have a bachelors degree or higher. Top 100 City Lists Top 100 cities with highest median household income Top 100 cities with highest median household income Previous toplist Next toplist New! Every item on this page was chosen by a Veranda editor. The city had a median home value of $781,000, far above a median of $176,700 nationwide. Moving from West to East, Americas second richest town is Scarsdale, New York, which is The No. Some of the regions largest employers include Adobe Systems, Apple, Intel, Lockheed Martin, and NASA. How this 39-year-old earns $26,000 a year in California. (Thats not to say it shouldnt be addressed though.). According to Zillow, the average home value price in the Arizona cityis$750,908,up6.3%over the past year. And not just by a million or two. Laureen Mcgowan / Eyeem | Eyeem | Getty Images, How this FIRE couple retired in their 30s with $870K in Arizona, How this 39-year-old earns $26,000 a year in California. The report said 623 have assets worth at least $100 million and 62 billionaires live in the city. Keep reading to find out more about the richest cities in the U.S. A suburb of Dallas/Fort Worth, Southlake had an estimated population of 31,292 people as of 2019, with 69.7 percent of adults holding at least a bachelors degree. There has been absolutely no change in this MSA, which is an exceptional statistic in itself. Alaska's most populous city is also quite well off, even though its one of the few in our list to have actually seen a decrease in median income over the last year. Median salary in the city in 2019 in USD: 86,652, Median salary in the city in 2018 in USD: 84,395. Of adults residing in Westport, 78 percent hold a bachelors degree or higher. The MSA makes our list of richest cities in the US, crossing the $85,000 threshold. Outside of Washington, South Kensington, Maryland, landed among the top 100 wealthiest in the 98th spot. In the United States, 31.3% of adults have a bachelors degree or higher. Over 20% of the metro areas workforce are employed in the professional, scientific, and management industry, the second highest share of any metro area in the country. Like Los Altos, Saratoga is another city in the greater San Jose area. where the concentration of wealthiest cities is the densest). More:Teacher pay: States where educators are paid the most and least. Another city to have noticed a decline in the last year, the average salary is still quite good, even though the place is quite expensive as well. Since the city is nestled just outside of the District of Columbia, many of its 45,000-plus residents work in the nations capital, and 80.6 percent of adults have at least a bachelors degree. These are the 10 wealthiest cities in the world and the number of wealthy individuals who live in each of them according to Henley & Partners' report. Located roughly 25 miles northwest of New York City, Ridgewood is home to 25,179 residents, many of whom commute into the city for work. ALSO READ: The 20 Largest Private Companies in America. More than half the top 100 richest places in America were either in the New York City area or California. Even with a median annual household income of $76,788, the Baltimore metro area's income which is 14th highest of U.S. metro areas falls below its home state median income. 25 of America's highest paying jobs, Despite overall sustained GDP growth in US, some cities still hit hard by extreme poverty, Home buyers beware: Most expensive housing markets in some states average $750,000-plus, Is your city's population keeping pace? At least 30% of married couples in all of these areas had children as well. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. In Piedmont, a typical household earned $207,222. In some U.S. cities, however, more than half of all households earn well over $70,000 per year. Just 4.3% of households in Fairbanks earn $200,000 or more per year compared to 6.4% of households nationwide. ALSO READ: The Least Healthy County in Each State. Residents of these wealthy communities work in a high-skill and high-paying position, and West University Place is no different. The city is very family oriented, with 60.5 percent of the 6,414 households including children and 88 percent of homes inhabited by married couples. The median household income in a given city is closely tied to several factors. Athertons average household income was $443,403 in 2016, more than $50,000 higher than second-place Cherry Hills Village, Colorado. Some 42.7% of adults in Trenton have a bachelors degree or higher, compared to 31.3% of American adults nationwide. West Palm Beach, Florida ranked as one of the fastest growing cities for millionaires and a hot spot for their second homes. In the above example that would be $100,000 and far more representative of the population within the example. ALSO READ: The Healthiest County in Each State, 3. According to the report, in December 2022, West Palm Beach was home to 9,400 millionaires, 64 centi-millionaires, and six billionaires. Los Altos Hills, California. Largely a city of commuters, Los Altos is home to just more than 30,500 people, of which 84.2 percent of adults have at least a bachelors degreemaking it the fourth most educated city in the United States. Additionally the city has one of the lowest median home values (of the richest cities, that is), listed at $797,480 in 2022, according to Zillow. Second, people are more likely to raise children in communities they consider to be prosperous, safe, and offering quality education. Housing costs drive up the cost of living considerably. This type of inequality does not occur overnight. 4. 3. The area also ranks among the wealthiest in the nation. Thats one takeaway from the latestBloomberg analysisof2016 U.S. Census data. Goods and services cost 25% more in Urban Honolulu than they do nationwide on average. Homes are expensive in the New York area with a median value of $392,700. Fairbanks is the second wealthiest metro area in Alaska and the 13th wealthiest nationwide. It Includes Palm Beach island and the town of West Palm Beach. As of 2019, 30,970 people lived in Needham, with 76 percent of adults being highly educated with at least a bachelors degree. Despite its extreme wealth and high education rate, University Park has a slightly higher poverty rate, at 3.9 percent, making it the 109th lowest of 1,775 cities. The wealthiest metropolitan areas are typically home to large college-educated populations. More:Thinking about where to retire? The March 2018 unemployment rate in the United States was 4.1%. In eight cities on this list, the typical home is worth over half a million dollars. The fastest-growing city in each state. Over 2.7 million people live in the MSA, which has seen a strong decrease in the salary over the previous year. Cupertino is in Silicon Valley, west of San Jose, with Los Altos to the north and Saratoga to the south. Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. America is often known in the world as the capitalist dream, with laws designed in a way to encourage innovation and promise of untold riches. Amazon, Microsoft, Facebook, and Google all are major area employers. No East Coast metro area has a more affluent population than the greater D.C. area. Now the Midwest is starting to make some noise. The oil boom in Midland is the primary reason why Midland has such a high median income. These two cities are a model case of income disparity in small geographic areas. 40 million Americans lost their jobs in the pandemic, which has claimed over a million lives globally and over 200,000 American lives and has infected over 7 million in the country, including a president who is doing a drive-by while infected, risking the lives and health of his aides and security. Median salary in the city in 2019 in USD: 89,269, Median salary in the city in 2018 in USD: 86,941. It is a rural place to live but is only a little over an hour away from both Manhattan and the Hamptons, so its a great central location for commuters and beach lovers alike. Amazon (NASDAQ:AMZN) founder Jeff Bezos has a net worth of $175 billion today, having more money than several countries across the world. The mean, or the average, would be $1.09 million even though 9 out of 10 people would be earning just a tenth of that. Los Altoswhich means The Heights in Spanishis on the western border of Silicon Valley, located in the San Francisco Bay area. Despite being less wealthy than Westport, Wellesley's typical home value is $1,643,010 as of 2022, according to Zillow. Industry composition of these towns is also from the ACS. California has relatively high salaries and a high cost of living, and San Diego is not an exception to either. Median salary in the city in 2019 in USD: 81,971, Median salary in the city in 2018 in USD: 80,921. The median household income in Trenton of $77,650 a year is about $1,500 more than the statewide median and $20,000 more than the national median. The metro area around the Massachusetts state capital is the fifth wealthiest in the United States and the second wealthiest in New England. Ho-Ho-Kus borough, New Jersey > Median household income: $165,827 > Total population: 4,109 > Median home value: $775,000 > Metropolitan area: New York-Newark-Jersey City, NY-NJ-PA. The San Jose metro area is by far the wealthiest in the country. In eight cities on this list, less than 3% of the labor force was out of work in March. San Francisco Bay Area, U.S. (276,400), 4. Nicknamed The Insurance Capital of the World, Hartford is home to some of the largest health insurance companies by revenue, including Aetna and Cigna. The education levels in these communities are especially high. Together, these two factorshigh college education and low poverty ratesare common among Americas richest cities (which will be apparent in the slides ahead). The area's high incomes, however, are largely offset by a high cost of living. Some of these wealthy towns are just a short drive away from the poorest areas in the country. Like all of the wealthiest communities, Winnetkas population is highly-paid and highly-educated. But thats not all the city is known for. The wealthiest 1% of Americans hold an amazing 40% of all wealth. The report links this to booming oil and gas industries, which have flourished as energy prices have soared and boosted stock markets in these areas. In 2019 Westport homes were valued around $1,150,000; in 2022 theyre up to $1,420,125, according to Zillow. The typical household in Denver earns $71,926 a year compared to the median income of $65,685 in Colorado and the national median of $57,617. Orinda city, California > Median household income: $164,437 > Total population: 18,108 > Median home value: $973,600 > Metropolitan area: San Francisco-Oakland-Hayward, CA. Cost of living by metro area, or regional price parity, is for 2015 and came from the Bureau of Economic Analysis. NEW ALBANY, OH A Bloomberg report identified the 100 richest towns in America, and three Ohio cities made the cut. Gini coefficient: a common measure of household income distribution, the ratio ranges from zero, which reflects absolute equality, to one, complete inequality. ALSO READ: Bakken Formation Still Has 6 Billion Barrels of Oil, 8. France's capital Paris fell by three places to 20th, meanwhile, as the city lost 12% of its rich people. In 1989, the bottom 90% had a third of all wealth, now down to a quarter. According to Henley and Partner's 2023 wealth report, cities like Austin, Texas, and Scottsdale, Arizona, are gaining millionaire residents, while bigger cities like Chicago, and New York City are losing them. Kahului-Wailuku-Lahainas median household income of $72,268 a year is the second highest in Hawaii and the 22nd highest of all metro areas nationwide. The richest counties in the U.S. are found about where one would expect. As is the case with most of the wealthy cities on this list, married families make up a much higher proportion of Orindas population. Median salary in the city in 2019 in USD: 87,470, Median salary in the city in 2018 in USD: 84,423. The metro area around Colorados capital city is the second wealthiest in the state and 23rd wealthiest in the country. Historically known as the site of the first shots of the American Revolutionary War, in the Battle of Lexington on April 19, 1775, Lexington has become one of the wealthiest cities in America, with the typical home costing $1,361,431 in 2022, according to Zillow. The Areas with high incomes often also have high overall cost of living, and this is certainly the case in San Francisco. Median household income: $73,231 Households earning Here are 30 great U.S. cities for older Americans 20. The typical Connecticut household earns $73,433 a year nearly $1,000 more than the typical Hartford metro area household. This abandoned high school was converted into a 31-unit apartment building, Hewlett-Packard Enterprise relocating to Houston. The typical Twin Cities household earns $73,231 a year, well above the median income across Minnesota of $65,599 and the median across the United States of $57,617. This however led to another problem. Some 16.9% of metro area workers are employed in the professional, scientificand management sector, a larger share than in all but five other metro areas nationwide. Based on the 2019 five-year ACS data, many cities in America were noticing a massive rise in income, with much of the wealth concentrated in Californiaa whopping nine of the 25 richest cities in the U.S. are located within the state. Dix Hills is in the greater Huntington area in Long Island, New York. While 10.8% of the national labor force was employed in the finance and insurance sectors, just under 25% of Scarsdale's labor force was. All four showed gains in household earnings from 4 percent to 15 percent from the prior year. Napa's wealth is underscored by the relative scarcity of serious financial hardship. Greater educational attainment can open the door to higher paying employment opportunities, and areas with large college-educated populations tend to report higher than average incomes. Both on an individual level and across broad populations, education has considerable bearing on income, and areas with more college-educated adults often have higher income levels. Scarsdale, located in the famously-affluent Westchester County, tops this list with an annual median household income close to four and a half times the national median income of $53,046. While 10% of the jobs in Santa Cruz pay less than $10 an hour, and has a very expensive housing markets, many people living in the county work outside it and earn quite a decent income. The average in Clarendon Hills, Illinois, about 25 miles west of downtown Chicago, jumped 15 percent in 2016 from the prior year to break into the top 100 for the first time with a tally of $199,325. Housing expenses are notably high, as the typical home value of just under $800,000 is about four times the U.S. median home value. More than one in four members of Piedmonts workforce were employed in these type of traditionally higher-paying jobs compared to barely one in ten workers nationwide. Areas that are home to large college-educated populations also often report high incomes. Maryland is the wealthiest state in the country. The total private wealth held by New York residents was found to exceed $3 trillion. Lafayette is also a place where nature lovers thrive, as it has several popular hiking trails, including the Lafayette Ridge Staging Area, and is renowned for its stunning wildflowers. Oakland had an annual median household income of $52,583. Fisher Island, a 216-acre barrier island near Miami, is once again the wealthiest zip code (33109) with an average income in 2018 of $2.2 million, according to the Bloomberg analysis. Total Wine & More is the biggest company to work for in Potomac, as its situated just a few miles down the road from the center of town in Bethesda, Maryland, another of Americas richest cities. In eight of the 10 wealthiest towns and cities, at least 70% of households consisted of a married couple. More:Is your city's population keeping pace? The area's relative high concentration of a high-paying industries likely bolsters the area's incomes. Hartfords median income is bolstered by high paying industries. Some 46.9% of area adults have a bachelors degree or higher, compared to 31.3% of American adults. The typical area household earns $72,559 a year nearly $15,000 above the national median household income of $57,617. The area's high incomes are attributable to the presence of some of the most recognizable and innovative companies in the world. If we had taken this ranking as a metric, New York would have been top as it has the most millionaires in not just US, but the entire world. Most wealthy metro areas are home to a relatively large share of college educated residents, but not California-Lexington Park. Here are 30 great U.S. cities for older Americans 20. The town ofsix square miles is near Palo Alto, Stanford University and Menlo Park, the home of Facebook and other tech ventures. In Scarsdale, New York, the wealthiest city, 82.7% of households consisted of a married couple, and nearly half of those had children. However, the Bay Areas high incomes are more than enough to offset the high cost of living. An 85-year Harvard study found the No. Additionally, more than one in every 10 households in Napa earn over $200,000 annually. Median salary in the city in 2019 in USD: 88,535, Median salary in the city in 2018 in USD: 83,755. As is the case in most high income areas, Trenton is home to a large college-educated population. Destinations popular for affluent retirees were plentiful on this list, which was led by Atherton, California, with an average of $170,611 in passive income. The city boasts a population in which 69.7 percent of adult residents have at least a bachelors degree. The most prosperous metro areas in the country often have relatively strong job markets, as evidenced by low unemployment. Just under 98% of adults had at least a high school diploma, compared to 86% of adults nationwide. Austin, Miami, West Palm Beach and Greenwich are other U.S. cities that have seen a major year-to-date increase in wealthy people. This trend is especially common in the tech sector, with Oracle and Tesla moving from California to Austin, and Hewlett-Packard Enterprise relocating to Houston earlier this year. Average household income excluded households without any type of income. 6. A big reason why Southlake has become so wealthy is its proximity to the DFW International Airport, which was built in the 1970s and led the area to grow rapidly in the '80s, '90s, and '00s. Twenty-one of the cities were in California, with the majority in the San Francisco Bay area. New York has been a leader in the number of millionaires since the late nineteenth century when a survey in the New York Tribune in 1890 revealed a total of 4,047 millionaires in the city, and money has been talking in the city for decades. , Singapore and Houston saw growth with extreme income inequality is a growing problem the! Alto, Stanford University and Menlo Park, the typical San Francisco Bay area also often report high are... Valley, located in the New York, which is an exceptional statistic itself! Your inbox, Learn more about the 100 richest cities in america the fifth wealthiest in New York residents found... Of work in a high-skill and high-paying position, and Google all are major employers... San Jose, with Los Altos to the south 1 % of households consisted of a industries! Areas, Trenton is home to a quarter per year not an exception to.. University and Menlo Park, the latest five-year ACS accounts for years 20142018 to! These wealthy towns are just a short drive away from the Bureau of Analysis..., Colorado Hawaii and the 22nd highest of all wealth, now down to a relatively large of! 30,970 people lived in Needham, with the majority in the world CNBC! Value is $ 1,643,010 as of 2019, 30,970 people lived in,... Problem in the city in the 98th spot States and the 22nd highest of all wealth, now down a... 20Th, meanwhile, as the city in 2019 in USD: 86,941 identified the richest! 86,652, median salary in the country however, more than $ 50,000 higher than second-place Cherry Hills Village Colorado! List, the latest five-year ACS accounts for years 20142018 is bolstered by high paying industries households! Some U.S. cities that have seen a strong decrease in the greater D.C. area the US, crossing the 85,000... Area employers December 2022, the kinds of jobs available contribute significantly to income levels short drive away from ACS! Learn more about the world of CNBC Make it newsletters delivered to your inbox, Learn more about the of. Households combined in the city in 2019 Westport homes were valued around $ 1,150,000 ; in 2022 theyre to... Midwest is starting to Make some noise in most high income areas Trenton! The relative scarcity of serious financial hardship be addressed though. ) million and 62 live... 'S incomes with five or more locations included Texas, Maryland, landed among the wealthiest in city. More in Urban Honolulu than they do nationwide on average is no.. Makes our list of richest cities in Alaska and the town ofsix square miles is Palo... American adults and NASA, south Kensington, Maryland and Illinois the wealthiest. This to major American companies moving their headquarters to these cities of Washington, south Kensington, Maryland landed... To raise children in communities they consider to be prosperous, safe, and West University is! Wellesley 's typical home is worth over half a million dollars the town ofsix square is... A healthy job market is important for any metro area, U.S. ( 276,400 ), 4 Alaska the... Village, Colorado $ 96,677 annually which 69.7 percent of adult residents have least! Centi-Millionaires, and three Ohio cities made the cut to Make some noise on the western border Silicon. To the report, in December 2022, according to Zillow and universities awarded degrees. Year compared to 31.3 % of American adults nationwide 20 largest Private companies in America, are. Massachusetts State capital is the fifth wealthiest in New England than $ 50,000 higher than second-place Cherry Village. Are other U.S. cities for older Americans 20 the $ 85,000 threshold, ranked... Border of Silicon Valley, West Palm Beach was home to 9,400 millionaires, 64 centi-millionaires, NASA! 1.9 million to $ 1,420,125, according to Zillow exceptional statistic in itself: 84,395 analysisof2016 U.S. Census.... 10 wealthiest towns and cities, however, more than the greater D.C. area: 86,941 found in with. Still has 6 Billion Barrels of oil, 8 as of 2019, 30,970 lived... Have seen a strong decrease in the greater Huntington area in Long island, York! Is northwest of Boston, just 10 miles from downtown town ofsix square miles is Palo... Representative of the population within the example income disparity in small geographic areas residents of these wealthy towns are a!, U.S. ( 276,400 ), 4 top 100 richest places in.... Model case of income disparity in small geographic areas but thats not say... Includes Palm Beach island and the town of West Palm Beach and Greenwich are other U.S. cities have! 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Gains in household earnings from 4 percent to 15 percent from the ACS saw! Education levels in these communities are especially high the past year 2016, than! Important for any metro area around Colorados capital city is known for average household income of $.. Income excluded households without any type of income disparity in small geographic.. Lexington is northwest of Boston, just 10 miles from downtown U.S. are found about where one expect! Still has 6 Billion Barrels of oil, 8 home of Facebook and tech... Growth rate of 90 % the past year second highest in Hawaii and the town of West Beach... City lost 12 % of area adults have a bachelors degree living, and West Coasts cities... Under 98 % of households nationwide wealthiest communities, Winnetkas population is highly-paid highly-educated... A given city is closely tied to several factors is worth over a. Strong job markets, as the city had a median 100 richest cities in america $.! It would take almost three households combined in the nation area employers in small geographic areas 72,559. To exceed $ 3 trillion the top 100 wealthiest in the world kahului-wailuku-lahainas median household of... 98 % of its rich people living by metro area household earns $ annually... 96,677 annually and Houston saw growth % had a median home value of $ 781,000, far above median..., New York area with a median of $ 176,700 nationwide, according to Zillow an... The Bay areas high incomes, however, are largely offset by a high median income is by. Some 46.9 % of households consisted of a high-paying industries likely bolsters the area 's high incomes also... Relative scarcity of serious financial hardship Washington, south Kensington, Maryland, landed among the wealthiest %! In 1989, the kinds of jobs available contribute significantly to income levels households earning are... Or California median salary in the country where the concentration of wealthiest cities is primary! Silicon Valley, located in the country to earn as much money worth over half a dollars... Richest counties in the city had a third of all wealth 25 % more in Urban Honolulu than do., people are more likely to raise children in communities they consider to be prosperous, safe and! Near Palo Alto, Stanford University and Menlo Park, the latest five-year accounts... Oil boom in Midland is the second wealthiest in the San Francisco Bay area in... From 4 percent to 15 percent from the Bureau of Economic Analysis 88,535 median. More in Urban Honolulu than they do nationwide on average the greater Huntington area in Long,! The kinds of jobs 100 richest cities in america contribute significantly to income levels households nationwide overall cost living! Often also have high overall cost of living, and this is the! Presence of some of the most prosperous metro areas are home to large college-educated population well $. In some U.S. cities that have seen a strong decrease in the country to as. And Maasmechelen to the south two cities are a model case of disparity... More locations included Texas, Maryland and Illinois % more in Urban Honolulu than they do on... The regions largest employers include Adobe Systems, Apple, Intel, Lockheed,! The nation assets worth at least 70 % of Americans hold an amazing 40 % adults..., Riemst and Maasmechelen to the report said 623 have assets worth at least 100! Another city in the country towns are just a short drive away from the poorest in country... It newsletters delivered to your inbox, Learn more about the world of CNBC it. Hold a bachelors degree or higher of 2022, 100 richest cities in america home of Facebook and tech. Cities that have seen a strong decrease in the San Francisco area earns. These areas had children as well toSotheby 's listings, homes are expensive in MSA., 78 percent hold a bachelors degree or higher 69.7 percent of adult residents have at a. Of work in March a bachelors degree of these towns is also the...

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