100 richest cities in america

ALSO READ: The Healthiest County in Each State, 3. More than half the top 100 richest places in America were either in the New York City area or California. The area's high incomes are attributable to the presence of some of the most recognizable and innovative companies in the world. 25 of America's highest paying jobs. The wealth distribution in America is incredible for all the wrong reasons. 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. Scottsdale, Arizona, rounded out the top three fastest-growing cities in the U.S. for millionaires. California-Lexington Park is the wealthiest metro area in the wealthiest state. In all but two of the country's wealthiest cities, the high incomes are offset in part by a high cost of living. ALSO READ: The 20 Largest Private Companies in America. The Boston metro area is home to a number of higher education institutions including Boston University, Harvard University, and Northeastern University which awarded over 100,000 degrees in 2015 alone. These are the richest towns in the country. Some 42.7% of adults in Trenton have a bachelors degree or higher, compared to 31.3% of American adults nationwide. 20 Richest Towns in The US 2022 - The Wealthiest Towns in The truth is a complete 180 turn, with wealth inequality in the US being incredibly high. Like many other especially wealthy U.S. areas, financial well-being in Southlake is not shared by many other communities in the region. To determine the richest towns in the country, 24/7 Wall St. considered median household incomes from the U.S. Census Bureaus 2013 American Community Survey (ACS). Over 4 million people live in the MSA, and has 21 Fortune 1000 headquarters, providing excellent employment opportunities. where the concentration of wealthiest cities is the densest). No East Coast metro area has a more affluent population than the greater D.C. area. All Rights Reserved. Nearly 6,200 met the criteria. It would take almost three households combined in the Laredo, Texas metropolitan area the poorest in the country to earn as much money. 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. This however led to another problem. In the same year the region of Latin America and the Caribbean had over 100 billionaires (in USD).The countries with the most billionaires are: Brazil (65), Mexico (13), Chile (8), Peru Median salary in the city in 2019 in USD: 85,641, Median salary in the city in 2018 in USD: 79,478. In the wealthiest cities, median household incomes range from about $71,700 annually to well over $100,000. The metro area around Colorados capital city is the second wealthiest in the state and 23rd wealthiest in the country. Some of these wealthy towns are just a short drive away from the poorest areas in the country. Part of greater Boston, Wellesley is home to three collegesWellesley College, Babson College, and a campus of Massachusetts Bay Community Collegewhich makes it no surprise that the city has the fifth highest percentage of adults with at least a bachelors degree. 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. Whereas Saratoga is located below Los Altos, San Carlos is a touch above, situated on the western shore of San Francisco Bay. But even adjusting for the cost of living, Anchorage residents are still some of the wealthiest in the country. ALSO READ: 9 Oil and Gas Stocks Analysts Want You to Buy Now, 5. Riyadh in Saudi Arabia, Sharjah and Dubai in the United Arab Emirates, Lusaka in Zambia, and Luanda in Angola are in the lead. More than 30,000 people lived there as of 2019, with 68.3 percent of adults holding a bachelors degree. Napa's wealth is underscored by the relative scarcity of serious financial hardship. The most prosperous metro areas in the country often have relatively strong job markets, as evidenced by low unemployment. The 2022 median home value in the city is $2,895,125, according to Zillow. Moving from West to East, Americas second richest town is Scarsdale, New York, which is 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. According to the report, in December 2022, West Palm Beach was home to 9,400 millionaires, 64 centi-millionaires, and six billionaires. This was no different in Glen Ridge, where nearly three-quarters of households included a married couple, compared to less than half of households nationwide. And this isn't a common theme throughout history, it has actually increased significantly over time. The second San Francisco suburb to make this list is Piedmont, which shares Alameda County with Oakland, located just a few miles away. Lexington is northwest of Boston, just 10 miles from downtown. They also have a healthy job market and a concentration of industries that tend to pay higher wages. Despite being just outside San Francisco (a city known for its homelessness), Los Altos is proud to have the 24th lowest poverty rate of 1,775 cities, at a mere 2.8 percent. Located in Connecticut, Torrington has been rated as one of the highest rated cities in the US, and the high income is a great incentive. Median salary in the city in 2019 in USD: 80,754, Median salary in the city in 2018 in USD: 82,917. High housing costs drive up the overall cost of living. West University Place, Texas is a suburb of Houston and had an annual median household income of $205,135 and a poverty rate of just 2.3%. In addition to its proximity to NYC, Westfield has attractions of its own, including Lenape Park, a 450-acre nature reserve. Over 2.7 million people live in the MSA, which has seen a strong decrease in the salary over the previous year. Cost of living by metro area, or regional price parity, is for 2015 and came from the Bureau of Economic Analysis. Of course, the South, East, and West coasts arent the only places where wealthy cities exist. High concentrations of high incomes are often found in regions with extreme income inequality. Its average household income of $219,654 paired with a low Gini indicates the majority of households are similarly well-off. Being near a major metropolitan area does not guarantee an affluent community. High-income areas often have a high cost of living, and Santa Cruz-Watsonville is one of the most expensive places to live in the United States. Half of all households in Vallejo-Fairfield earn at least $73,900 a year. In the United States, 31.3% of adults have a bachelors degree or higher. Various major cities in Europe and Asia also saw drops among their wealthy populations. The houses are quite notable, too, with median home values at $1,494,172 in 2022, according to Zillow. Vallejo is one of the many cities in California present in our list, and was even the capital of the state over 170 years ago. Wilmette may not be the richest city in America, but its one of the most educated with 83.2 percent of adults holding a bachelors degree or higher. The typical metro area home is worth $712,800, or about three and a half times the value of a typical American home. West Palm Beach, Florida ranked as one of the fastest growing cities for millionaires and a hot spot for their second homes. Like all of the wealthiest communities, Winnetkas population is highly-paid and highly-educated. Thanks to that influx, Austin has also become a growth market for luxury real estate, according to Henley and Partner's 2023 wealth report. This is despite the fact that the vast majority comprises of those who have not made it, and that there are unique conditions that have led to success in these cases, including a huge amount of luck, which has no logical explanation behind it. More:What's the best place to keep money you need to use soon? 10. The D.C. area is one of just eight where over 50% of adults have at least a bachelors degree. A number of the wealthiest metropolitan areas in the country can be found on the West Coast, and nearly all of these in California. Los Angeles, Chicago and Houston are the other U.S. cities in the top 10, ranking 6th, 7th, and 8th, respectively. We did not consider towns where the margin of error at 90% confidence was greater than 10% of the point estimate of both median household income and population. Located along the Long Island Sound, Westport is just 52 miles northeast of New York City, making it a popular destination for those looking to work in the city but live outside of it. Median salary in the city in 2019 in USD: 87,470, Median salary in the city in 2018 in USD: 84,423. While just 32.8% of Oakland households included a married couple, 76.9% of Piedmont households did. The typical household in the metro area earns $71,897 a year, more than in any other metro area in New York state and well above the national median household income of $57,617. Poverty rates, median home values, and educational attainment rates also came from the ACS. Amazon, Microsoft, Facebook, and Google all are major area employers. Median salary in the city in 2019 in USD: 85,152, Median salary in the city in 2018 in USD: 85,152. 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. Cities and towns in the tri-state area of Connecticut, New Jersey and New York accounted for 36 of the 100 top spots, the most concentrated area of wealth of any region. Now the Midwest is starting to make some noise. The richest communities in America for years have been in Silicon Valley and the New York City area. Use this visualizationNew York boasts the largest GDP of any metro area in the U.S. at $1.8T, the same size as the entire Canadian economy.Los Angeles also has a GDP over $1T, roughly the same size as Malaysia.Other large cities have enormous economies. Even smaller American cities have enormous economic weight. The city, which is home to 47,682 residents, is on the outskirts of Washington, D.C., and sits across the Potomac River from Potomac, Maryland (another one of the richest cities in America). The number drops significantly to 15,470 when assessing those who have more than $10 million in assets. Houston also has one of the fastest growing millionaire populations, according to the report. More:Want to be a high earner? Median household income: $73,231 Households earning While all but one other wealthy area on this list had a median home value of at least $750,000, Southlake had a relatively low median home value of $514,900. The areas median income is bolstered by one of the lowest jobless rates in the country. ALSO READ: The Least Healthy County in Each State. Goods and services in the Vallejo-Fairfield metro area are about 16% more expensive than they are on average nationwide. An 85-year Harvard study found the No. The rural community northwest of Washington sits along the Potomac River and is home to Bretton Woods Recreation Center, a country club for International Monetary Fund and World Bank staff. This table includes only zip The richest counties in the U.S. are found about where one would expect. Of course, that is still several hundred thousand dollars above the national median home value of $176,700. This abandoned high school was converted into a 31-unit apartment building, Hewlett-Packard Enterprise relocating to Houston. Moving from West to East, Gini coefficient: a common measure of household income distribution, the ratio ranges from zero, which reflects absolute equality, to one, complete inequality. The metro areas of Washington, D.C., New York City and San Francisco's Bay Area naturally dominate the top spots. The least richest city in our list still earns nearly $80,000 which is a solid salary almost anywhere. The area's high incomes, however, are largely offset by a high cost of living. The median household income in a given city is closely tied to several factors. Twenty-one of the cities were in California, with the majority in the San Francisco Bay area. Source: Bloomberg analysis of data by the U.S. Census Bureau. those who made it rather than those who did not because of a lack of visibility. Trump National Golf Club is directly across the Potomac River in Virginia. West Palm Beach also ranked as a top three city in the U.S. where millionaires are buying second homes. 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 village is home to hundreds of wealthy businesspeople, athletes and entertainers. While 86% of adults nationally had at least a high school diploma, at least 97% of adults in the wealthiest city did. Median salary in the city in 2019 in USD: 85,042, Median salary in the city in 2018 in USD: 68,902. 24/7 Wall Street reviewed income levels in 382 metropolitan areas to identify the 25 richest cities in America. We found the 50 richest places in the country received $350 million in bailouts. In nearby Garfield, New Jersey, 18.7% of adults had a bachelors degree. The wealthiest metropolitan areas are typically home to large college-educated populations. Darnestowns Gini coefficient is 0.37, the lowest of all 100 places. ALSO READ: Top Analyst Upgrades and Downgrades: AOL, Cisco, Etsy, GoDaddy, MannKind, Virtu, Caterpillar, Nokia and More. In eight cities on this list, the typical home is worth over half a million dollars. Goods and services in Kahului-Wailuku-Lahaina are about 7% more expensive than they are on average nationwide. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. California has relatively high salaries and a high cost of living, and San Diego is not an exception to either. West Palm Beach, Florida, ranked second on the list. (That said, the latest five-year ACS accounts for years 20142018. However, Fairbanks differs from most other cities on this list in some notable ways. According to Zillow, homes in San Carlos cost around $2,400,000 as of 2022. Hence, we used the median income of each city for both 2019 and 2018, and calculated the average ranking for the same, with the data having been obtained from the US Census. McLean has a low poverty rate (2.7 percent) and a high median home value ($1,031,200 in 2019 and $1,226,956 in 2022, according to Zillow) and has been home to many high-ranking public officials, including President Joseph R. Biden, Jr. and First Lady Dr. Jill Biden. 1 city on the list is Austin, Texas. Here are 30 great U.S. cities for older Americans 20. Hartford is one of two metro areas in Connecticut to rank among the highest earning in the nation. Billionaires got richer by $637 billion during the pandemic with Jeff Bezos and Elon Musk leading the way. Together, these two factorshigh college education and low poverty ratesare common among Americas richest cities (which will be apparent in the slides ahead). Less than 20 miles southwest of New York City, Westfield is considered a bedroom community for Manhattanin that many of its 29,877 residents live in New Jersey but work in the city. They are located almost exclusively along the East and West Coasts including cities in Alaska and Hawaii. What is the richest city in the US?Atherton, California. Average household income: $525,324.Scarsdale, New York.Hillsborough, California.Cherry Hills Village, Colorado.Los Altos Hills, California.Short Hills, New Jersey.Highland Park, Texas.Glencoe, Illinois. Of adults living in Ridgewood, 76 percent hold a bachelors degree. Taking things inside, the median home value in Westfield is $906,521 in 2022, according to Zillow. Hartfords median income is bolstered by high paying industries. Another option was using the mean, or the average earnings of each city. While that may seem quite high, its surprisingly ranked only 57th of the 1,775 cities evaluated. At one point or another, Dolly Parton, Taylor Swift, Keith Urban, Sheryl Crow, and Eli Manning have all called the upscale city home. by PopulationAustin, TX 978,908Jacksonville, FL 911,507Fort Worth, TX 909,585Columbus, OH 898,553Charlotte, NC 885,708San Francisco, CA 881,549Indianapolis, IN 876,384Seattle, WA 753,675Denver, CO 727,211Washington, DC 705,749More items The March 2018 unemployment rate in the United States was 4.1%. However, the cost of living is relatively high in the state thanks, in part, to the cost of transporting goods across difficult terrain. The typical Oxnard-Thousand Oaks-Ventura area home is worth about $561,400, more than double the median home value of $205,000 across the United States as a whole. Raleigh is by far the wealthiest metro area in North Carolina and the 25th wealthiest in the United States. More:Is your city's population keeping pace? Essex Fells is a very small community with a population of 2,115. Was converted into a 31-unit apartment building, Hewlett-Packard Enterprise relocating to houston 2019 in USD: 85,042, salary... D.C., New York city 100 richest cities in america, according to Zillow York city area or California by one of two areas! D.C. area is one of the 1,775 cities evaluated were either in the country salary! Of a lack of visibility of serious financial hardship including Lenape Park, a division of Gannett Satellite Network... Income of $ 219,654 paired with a low Gini indicates the majority households... Street reviewed income levels in 382 metropolitan areas to identify the 25 cities... 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