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. Who said big money is smart? Of all adults in the area, 38% have a bachelor's degree or higher, compared to 33.3% of adults statewide. That helps explain its inclusion on the list of small towns with high concentrations of millionaires. He's also written for Esquire magazine's Dubious Achievements Awards. ), "There's something for everyone: art galleries, outdoor activities, shopping, great food. The 150 richest cities in the world by GDP in 2020. The corporate leadership positions available to Centerton residents have likely helped raise the town's median household income to over $73,000 -- well above the statewide median of $45,726. In Darien, a small Census-designated place in southwest Connecticut within commuting distance of New York City, the typical household earns $210,511. Income distibution for all U.S. cities. This table shows the astonishing list of wealthiest counties in America by average household income. Miami, Florida. Largely agricultural for most of its history, Weddington began to develop more residential housing in the 1970s in tandem with the expansion of the Charlotte metro area. Source: Bloomberg. 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. Multiple bodies of water including Donner Lake, where the Donner Party met its gruesome demise, make the entire area a recreational haven for water sports. The town is centered by Hidden Valley Lake. One characteristic these towns have in common is a high level of education. Fairfield County towns have made yet another list of the richest places in the U.S. 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 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. All of the wealthiest neighborhoods in America on Bloomberg's Richest Places Index have average household incomes over $300,000. Chevy Chase Village, MD (pop. Loudoun County is located in the Commonwealth Virginia, with a population of 375,000 people. A far higher than average share of workers in Buckner work as health diagnosing and treating practitioners, which are generally high paying jobs. Bloomberg created and ordered this list by annual household income. 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. List of Top 10 Highest Paid News Anchors in India. For the fourth straight year, Atherton topped Bloomberg's Richest Places annual index. As is often the case in wealthy communities, Fairway has high real estate values. Laconia, New Hampshire. 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. The 2014 slump in energy prices touched off the state's worst recession in three decades. 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. Real estate values in Winchester reflect the area's high incomes. Sign up here, Your California Privacy Rights/Privacy Policy. But the area offers a wealth of outdoor fun year-round. 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 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. 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. Median household income: $159,167 (state: $50,972), Poverty rate: 0.8% (state: 16.1%), Median home value: $649,000 (state: $158,600). Nearly 60% of Highland residents 25 and older hold at least a bachelor's degree, as compared to 33.3% of Utah adults. As for taxes, millionaires could do worse. For the fourth straight year, Atherton toppedBloomberg'sRichestPlaces annual index. 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. Reply. The New Hampshire state capital is home to a horde of state, county, local and federal agencies and the law firms and professional agencies that support them. Walmart is the largest employer in Benton County, where Centerton is located. Dickinson's number and percentage of millionaire households declined year-over-year. With an average household income of more than $525,000, Atherton, California is the richest town in the United States, that's according to a Bloomberg report. It has long been a retreat for the well-to-do of the Mid-Atlantic seeking antique shops and solitude. Does it really matter if Aunt Jemima and Uncle Ben get retired? Median household income: $114,801 (state: $78,084), Poverty rate: 4.2% (state: 9.9%), Median home value: $629,800 (state: $587,700). There are six cities in where the median household income is less than $20,000: (1) Livingston . Following Atherton is Scarsdale, New York, which is less than 25 miles away from Manhattan; Hillsborough, California, about 20 miles south of San Francisco; Cherry Hills Village, Colorado, a Denver suburb; and Los Altos Hills, California, near Silicon Valley. Maryland has the second most millionaires per capita of any state in the U.S., according to Phoenix Marketing International, but it's unfriendly when it comes to taxes (opens in new tab). Atherton is joined by Scarsdale, New York (No. 2020-10-14T13:25:00Z . A relatively low-income state, New Mexico is one of only seven states nationwide where most households earn less than $50,000 a year. 4. 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. Sean Hannity is the wealthiest anchor on television. The Kapaa micropolitan area includes the entirety of Kauai, Hawaii's fourth-largest island. A popular New England vacation destination, Hampton is home to some of the most expensive houses in New Hampshire. 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). Check out: The best credit cards of 2020 could earn you over $1,000 in 5 years, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. His wealth has rocketed to $10.9 billion from $4.6 billion in 2020. Although gold mining is no longer much of a growth area, pulling the yellow metal from the ground does remain a productive endeavor. On the plus side, Massachusetts' reputation as a high-tax state is overblown (opens in new tab). Find the full list of America's 100 Richest Places on Bloomberg. With a median home value of $316,500, the typical home in the town has a median value more than double the median home value across the state as a whole. 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 . 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. Most homes in Belvedere are worth more than $2 million. 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. Property taxes are modest, but sales taxes lean high (opens in new tab). It also can get a bit crowded. Looking at the poorest cities in the U.S., there are certainly some geographic patterns that emerge. Median household income: $72,537 (state: $55,425), Poverty rate: 10.6% (state: 12.5%), Median home value: $218,800 (state: $184,500). Click to skip ahead and jump to the 10 richest cities in the United States. Median household income: $132,587 (state: $52,413), Poverty rate: 1.7% (state: 15.4%), Median home value: $443,600 (state: $165,900). Horace is a small bedroom community located roughly 10 miles southwest of downtown Fargo. Connecticut's median annual household of $76,106 is about $26,000 more than the median nationwide. Inverness is a suburb located some 33 miles northwest of downtown Chicago in Cook County. Cashing in on George Floyd: T-shirts, pillows, running shoes and even underwear are being sold, Median household income: $151,055 (state: $48,486), Median home value: $441,000 (state: $137,200). Cumberland Hill is a small Census-designated place of about 8,000 residents located in northern Rhode Island. Idaho's median annual household income is just over $53,000, which is lower than the majority of states. Burlington, the largest city in the state, sits less than 10 miles west of Essex Junction. 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%. Most households in the area earn over $170,000 a year -- more than triple the median annual household income statewide of $55,000. Billionaires say to be successful, do these simple things every day. (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. Median household income: $131,354 (state: $63,473), Poverty rate: 1.5% (state: 10.9%), Median home value: $293,800 (state: $185,000). It is one of the most educated towns in the state, with 48% of the population holding a bachelor's degree. Prince William County, Virginia $106,200 Building on this momentum, Duke Energy Corporation and the state's rural electric . 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. Median household income: $204,145 (state: $56,213), Median home value: $1,505,300 (state: $209,600). Median household income: $106,288 (state: $48,059), Median home value: $295,600 (state: $166,800). (It's an in-state draw for all the millionaires from the Stamford area, too. 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 . There's been a lot of panic surrounding the mass exodus of wealthy residents from New . Oak Hill is a small city of approximately 4,600 residents located about 7 miles south of downtown Nashville. Bethany is the most affluent neighborhood in Oregon. Median household income: $80,853 (state: $59,116), Poverty rate: 4.1% (state: 11.6%), Median home value: $180,700 (state: $147,800). In some cases, these locations benefit from being popular recreational areas or havens for wealthy retirees. Gabe Kaminsky of the Washington Examiner reports an ethic watchdog's critique of high-profile congressional Democrats known as "The Squad." Democratic members of the "Squad" in Congress continue to raise ethics concerns and red flags among watchdog groups, who have often urged government bodies to investigate their alleged misconduct.The latest situation earning the ire of watchdogs North Star, Delaware, located about 10 miles west of Wilmington and 35 miles southwest of Philadelphia, has a median household income of $141,533, more than double the statewide median of $65,627. 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. One of the wealthiest states in the country, New Jersey has a median household income of $79,363, about $29,000 more than the national median. Median income is more than $15,000 above the national level. 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. In Los Alamos, most households earn over $100,000 a year. Cost of living: 21.1% above U.S. average. The No. #2. Greenville is a relatively short commute to New York City, providing its residents access to the many high-paying jobs. 10 Ridgewood, New Jersey . Heber boasts world-class recreational activities for the wealthy and regular Joes alike. 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. 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. Port Royal, Naples, Florida. The typical Winchester home is worth $893,700, more than double the median home value of $366,800 in Massachusetts. 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. Median household income: $228,836 (state: $71,564), Poverty rate: 2.8% (state: 10.9%), Median home value: $1,133,100 (state: $264,900). Number of individuals with a net worth of $5 million or more: 36,515. Happily for residents, Washington is among the most friendly states for taxes (opens in new tab). All. The downside? But for more modest incomes, the impact is far milder, and property taxes are low (opens in new tab). Less than 2% of the town's 5,500 residents live below the poverty line, a fraction of the state poverty rate. For example, your friend asks you, "how much money do you have . The self-made hyper-rich say these things are the key to getting there. 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. Bloomberg released its annual list of the richest town . Known for high-income levels and a low unemployment rate, Luxembourg is the richest country in the world. New! Rock Springs is a city located at the intersection of Interstate 80 and US 191 in Sweetwater County in southwest Wyoming. Weddington is a small town of approximately 11,000 residents located 16 miles south of downtown Charlotte. But the town's signature draws are antiques and architecture. Ireland, on the rise thanks to favorable corporate tax policies, is projected to hit #1 by 2027.; The resource-rich land with the world's biggest economy, the United States, ranks 9th on the list. Below are the 11 Chicago area towns that made the list with their rankings. 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. 18 Stocks Warren Buffett Is Selling (And 6 He's Buying). Millionaires building second homes in the Steamboat Springs area have done more to push up house prices than wages. The typical actual cost that students . Perhaps best known is Hanover, N.H., which forms the northern tip of this urban agglomeration. Around 276,400 millionaires, 623 centimillionaires and 62 billionaires live in the San Francisco Bay area, which includes Silicon Valley. The 25 Best Low-Fee Mutual Funds You Can Buy. Median household income: $153,417 (state: $53,267), Poverty rate: 5.5% (state: 14.8%), Median home value: $919,800 (state: $196,800). Heres how retirees can benefit from changes in required minimum distributions (RMDs), qualified longevity annuities and IRA catch-up contributions. The net impact of accounting for differences in the purchasing power of a dollar in . 5). Median household income: $108,299 (state: $55,679), Median home value: $349,500 (state: $166,800). Since then, the 2020 median household income has been reported as $67,521, a 2.9 percent decrease since 2019, . 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). More than half of the 100 richest cities in the United States were in the New York City area or California. Scottsdale, Arizona. This city in the oil-rich Bakken Formation soon found itself home to fracking millionaires. 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. Median household income: $129,081 (state: $58,580), Poverty rate: 0.7% (state: 11.7%), Median home value: $301,700 (state: $142,300). Whitefish Bay is a small village of 14,000 residents located less than 10 miles north of downtown Milwaukee. Destrehan is a Census-designated place with 11,000 residents, located about 20 miles west of downtown New Orleans. 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. 20. The median home value in Hidden Valley is $196,800, more than $60,000 higher than the median home value in Indiana as a whole. revealing the wealthiest towns in the US. 50 Top Stock Picks That Billionaires Love. Mountain biking, hiking and fly fishing are just a few of the allures for the millionaire who likes the great outdoors. By Jeff Reeves In Paradise Valley, just 5% of residents live in poverty. Small cities and towns are listed by percentage of millionaire households, from lowest to highest. A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. The Wealth Report is Knight Frank's flagship annual publication, offering a unique perspective on global wealth, prime property and investment. 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. Jim Walton is the last heir to the Walmart fortune. Feb 25, 2020, 3:05pm Updated on Feb 25, 2020. The typical home in New Albany is worth $494,600, more than three times the state median home value of $140,000. Median household income: $75,441 (state: $62,268), Poverty rate: 11% (state: 11.1%), Median home value: $217,400 (state: $213,300). 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? For context, the typical American home is worth about $205,000. March 6, 2018 9:00am by Barry Ritholtz. In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics and more. With everything from ski resorts to beaches, the Lake Tahoe area offers year-round activities for well-heeled tourists and full-time residents alike. The facility has a nearly $3billion annual budget and employs some 13,000 people -- about two-thirds of whom have a college degree. Located in Washington County, Arkansas, the small town of Goshen is considered to be the wealthiest in the state. Loudoun County. Median household income: $170,952 (state: $53,560), Poverty rate: 1.3% (state: 14.2%), Median home value: $629,200 (state: $151,600). Median household income: $141,533 (state: $65,627), Poverty rate: 1.8% (state: 11.9%), Median home value: $444,400 (state: $244,700). tech stocks 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. Destrehan is a Census-designated place with 11,000 residents, located about 20 miles west of downtown New Orleans. The median household income is $94,027, and the median home value is $503,000. The typical Spring Creek home is worth $225,400, less than the $242,400 state median home value. The Federal Reserve has been aggressive in its rate hiking, and it's likely not done yet. 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. Edgeworth is a small borough of approximately 1,600 residents located some 12 miles up the Ohio River from downtown Pittsburgh. Now in its 17th edition, this year's Report provides a detailed analysis on economic performance, wealth creation and asset classes around the globe, as well as our forecast for commercial and . As we shall see, another area near Laconia makes this list of small towns with a high percentage of millionaires. What started as a small farming community in the 1870s now has some the most expensive homes in North Dakota. 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. 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. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019. Back out things such as the value of real estate (the bulk of most folks' wealth is tied up in their homes), employer-sponsored retirement plans and business partnerships, and only 6.7% of American households qualify as millionaires. A 35-minute train ride from New York City, the town sports quaint shops and top-rated schools . Nevin Rudloff October 8, 2020 . Raleigh-Durham International Airport. High-income areas tend to have well-educated populations -- and Duvall is no exception. Unfortunately, some of the other state and local taxes aren't quite so taxpayer-friendly. 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. Published 24 January 23. recession 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%. The median annual household income in America is just over $60,000. Pinecrest, Florida, is located a few miles south of Miami, just inland from Biscayne Bay. 1 Boca Grande. Lexington has become one of the wealthiest cities in America, with the typical home costing $1,361,431 in 2022, according to Zillow. The city's great appeal is no secret. Disclosure: Dan does not trade stocks or other securities. The typical home in Hampton is worth $358,300, far more than both the state median home value of $252,800 and the $204,900 national figure.
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