The appeal of Key West to millionaires and heck, everyone is pretty self-evident. Greenville is a relatively short commute to New York City, providing its residents access to the many high-paying jobs. Median household income: $106,285 (state: $54,325), Poverty rate: 3.7% (state: 14.1%), Median home value: $196,800 (state: $135,400). Theres also a home for sale 6.8 times that size (15,300-square-foot) and more than 19 times that price, listed at $32 million. But the area offers much more than pricey lift tickets and celebrity spotting. 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. The typical home in University Park is worth $1.2 million, compared to the median home value of $161,700 statewide. Kip ETF 20: The Best Cheap ETFs You Can Buy. Pound Ridge, NY (pop. Tiny Elko, Nevada, owes its high concentration of millionaires to its status as the capital of Nevada's gold mining industry. The county seat of Loudoun is in Leesburg, where most administration activities take place. But for more modest incomes, the impact is far milder, and property taxes are low (opens in new tab). America is often known in the world as the . Fly fishing, hiking and whitewater rafting draw folks to town in the summer months. Median household income: $129,081 (state: $58,580), Poverty rate: 0.7% (state: 11.7%), Median home value: $301,700 (state: $142,300). 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? 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 high incomes in Glen Ridge are evident by real estate values. The Mount Washington weather station, Water views, rolling hills and a verdant landscape (at least in the warmer months) make for many an idyllic scene. 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. In fact, every season challenges the next for which is more beautiful.". Median household income: $106,288 (state: $48,059), Median home value: $295,600 (state: $166,800). Median household income: $235,669 (state: $81,868), Poverty rate: 1.6% (state: 9.4%), Median home value: $1,090,400 (state: $305,500). Rank Metropolitan statistical area Population Per capita income 1 Washington-Arlington-Alexandria, D.C-Virginia-Maryland MSA 5,949,178 $47,411 "Being only 20 minutes away from Silicon Valley and 45 minutes to downtown San Francisco, [Atherton] is where many billionaires and C-Suite executives choose to reside," Rachel Swann, real-estate brokerage The Agency San Francisco managing partner, told CNBC Make It. 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. Here are the 10 leading cities for the wealthy for 2019. In others, a particular industry drives local wealth. With a median income of $123,220, Buckner is the wealthiest place in Kentucky. Posted Mon, Feb 24, 2020 at 12:35 pm ET. The following list of cities is limited to "micropolitan" areas, which the Census Bureau defines as urban clusters with populations between 10,000 and 50,000, "plus adjacent territory that has a high degree of social and economic integration with the core as measured by commuting ties.". Sean Hannity is the wealthiest anchor on television. Spring Creek is a small suburb of approximately 14,000 residents in Elko County in northeast Nevada. In Los Alamos, most households earn over $100,000 a year. Microsoft co-founder Paul Allen's estate sold for over $35 million in 2020. The typical household earns $127,351 a year, more than double the $59,393 the typical Oregon household earns. The Evergreen State makes the cut because it doesn't have an income tax. Source: Bloomberg. Here is the list of top 14 wealthiest towns in America as of March 2023 1. . Rank City Income; 1. Settled by a diverse community of immigrant coal miners in the late 19th century, the population of Rock Springs has grown from 3,406 in 1890 to 23,633 today. 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: $131,354 (state: $63,473), Poverty rate: 1.5% (state: 10.9%), Median home value: $293,800 (state: $185,000). 2); Hillsborough, California (No. ", 91 Top Dividend Stocks From Around the World. Austin, Texas. The Aloha State is known for its high cost of living and a mixed picture when it comes to taxes (opens in new tab). The self-made hyper-rich say these things are the key to getting there. For the fourth year in a row, the suburb of Atherton, California topped Bloomberg's annual Richest Places Index. Small cities and towns are listed by percentage of millionaire households, from lowest to highest. ETFs The Cannon River runs through town, and several parks and walking paths provide access to fishing, canoeing and kayaking. Great Falls is the richest town in Virginia and one of the richest in the entire country. To ensure accuracy, we only considered places where the margin of error for population and median household income was less than 10%. The town is just outside of Anchorage, Alaska's largest city, providing residents access to many, likely higher-paying, employment opportunities. All of the wealthiest neighborhoods in America on Bloomberg's Richest Places Index have average household incomes over $300,000. As residents like to point out, few towns have a groomed ski area right in their downtown that is accessible to all. 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. 9. Much of Alaska's wealth is tied to the energy business. In Dellwood, some 75.2% of adults have a bachelor's degree, more than twice both the state bachelor's degree attainment rate of 35.4% and the national rate of 31.5%. 6. The typical Whitefish Bay household earns $117,300 a year, nearly twice the $59,209 state median household income and the $60,293 national figure. Los Angeles, Chicago and Houston round out the top five . A million bucks in liquid assets isn't what it used to be, but it's still really hard to amass. Indeed, former presidents Bill Clinton and Barack Obama have summered there, and Jacqueline Kennedy Onassis long maintained a home on the island. Too cold outdoors? 12. Here are . Click for the full list. Real estate values in Winchester reflect the area's high incomes. With its covered bridges, forests and rivers, the scenery is gorgeous. 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. Mountain biking, hiking and fly fishing are just a few of the allures for the millionaire who likes the great outdoors. A steep drop in oil prices first sparked pain across the Bakken about five years ago. Median household income: $228,836 (state: $71,564), Poverty rate: 2.8% (state: 10.9%), Median home value: $1,133,100 (state: $264,900). Median household income: $210,511 (state: $76,106), Median home value: $1,461,100 (state: $272,700). Median household income: $117,300 (state: $59,209), Poverty rate: 3.5% (state: 11.9%), Median home value: $373,200 (state: $173,600). Walmart is the largest employer in Benton County, where Centerton is located. Disclosure: Dan does not trade stocks or other securities. 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 Top 10 CHEAPEST Cities to live in the United States for 2020. It became the first and only neighborhood in America to top the half-million-dollar mark. Median household income: $159,536 (state: $77,378), Poverty rate: 2.5% (state: 10.8%), Median home value: $893,700 (state: $366,800). Median Home Value: $288,200. Property taxes are modest, but sales taxes lean high (opens in new tab). Future US, Inc. Full 7th Floor, 130 West 42nd Street, Built with one-acre plot minimums for most of its history, the Inverness housing stock is among the most expensive in the country. And don't forget the incomparable sunsets. A wealthy suburb of the Omaha metro area, Papillion has grown from approximately 1,000 residents in 1950 to more than 20,000 today. More than 10% of Alaska residents live in poverty, yet the poverty rate in Gateway is just 4.2%. And thanks to abundant revenue that the state collects from oil and mineral rights, Wyoming millionaires shoulder one of the lowest tax burdens in the U.S. For those living in Idaho, the tax situation is a bit more mixed (opens in new tab). 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. It became the first and only neighborhood in America to top the half-million-dollar mark. 1 city on the list is . Prince William County, Virginia $106,200 According to Forbes' Real-Time Billionaires Rankings, as of February 2020, New York City is the American city with the most billionaires, with 82 billionaires. These commodity ETFs offer investors exposure to the diverse asset class, which is a helpful hedge against inflation. Median household income: $141,533 (state: $65,627), Poverty rate: 1.8% (state: 11.9%), Median home value: $444,400 (state: $244,700). The North Star State hits hard with income tax and property taxes are on the high side, too. 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. The Wealth Report is Knight Frank's flagship annual publication, offering a unique perspective on global wealth, prime property and investment. Glenwood Springs has collected many accolades over the years. Estimates of millionaire households provided by Phoenix Marketing International. Median household income: $93,194 (state: $52,559), Poverty rate: 2.4% (state: 13.7%), Median home value: $331,900 (state: $219,600). But the state has a 4.95% flat income tax system, property taxes are low and sales taxes are average. West Virginia's median household income is one of the lowest among states, at just under $45,000. Its closest competitor, the quaint Hamptons village of Sagaponack, had a median price that, at $3.9 million, was about half of Atherton's. Keep reading for a closer look at the 27 most expensive . Winnetka - $311,902. 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. In this article we take a look at the 30 richest cities in the United States. Atherton is a small neighborhood of about 7,000 people and it is located in the heart of . Youll need that substantial a salary to afford to buy your way into Atherton, the cheapest current listing is a 2,270-square-foot home for $1.7 million. 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. Median household income: $180,541 (state: $63,575), Poverty rate: 1.2% (state: 13.1%), Median home value: $625,100 (state: $187,200). Median household income: $204,145 (state: $56,213), Median home value: $1,505,300 (state: $209,600). Pinecrest, Florida, is located a few miles south of Miami, just inland from Biscayne Bay. 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. The village was originally incorporated in 1892 as a means to organize a school system for the children of farmers, and today it is the wealthiest small town in Wisconsin. Vineyard Haven is a town on Martha's Vineyard. 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. Less than 2% of the town's 5,500 residents live below the poverty line, a fraction of the state poverty rate. The median . The sun-kissed island and nearby neighbors offer a tropical paradise in the good ol' U.S. of A. Click to skip ahead and jump to the 10 richest cities in the United States. Tega Cay, South Carolina, is located on a peninsula along Lake Wylie, just south of the border with North Carolina. 3); and Cherry Hills Village, Colorado (No. More importantly, it makes Laconia a relatively easy drive from points farther south where millionaires maintain their primary residences. In the first half of the 2010s, North Dakota had the fastest-growing economy in the nation, thanks to the explosion in shale oil drilling. Centerton is the fastest growing small city or town in Arkansas and one of the fastest growing places in the entire country. Raleigh-Durham International Airport. "Coupeville and Langley have higher incomes, swankier homes and older residents." Most households in the area earn over $170,000 a year -- more than triple the median annual household income statewide of $55,000. 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. As a result, Hanover buzzes with a diverse mix of art, culture and outdoor sporting and recreational activities year-round. Of all small cities and towns in Kansas, Fairway is the only one where most homes are worth more than $300,000. As is often the case in wealthy communities, real estate is not cheap in Darien. Top employers in Elko County include the Elko County School District and West Wendover Casinos. Across Missouri, 28.6% of adults have a four-year college education. Published 23 January 23. The typical household in Vermont earns about $60,000 a year, in line with the national median household income. Even in one of the wealthiest states, Greenville stands out as especially affluent. Published 6 January 23. real estate Dallas. Perhaps best known is Hanover, N.H., which forms the northern tip of this urban agglomeration. 25% of the total families in US don't even have $10,000. 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. Atherton, the upscale community south of San Francisco, has been home to the former chairman of Google Eric Schmidt and brokerage boss Charles Schwab. "The homes in Atherton are spectacular," Swann told CNBC Make It. Fairfax County, which includes the independent cities of Fairfax City and Falls Church, remains one of the . The typical Winchester home is worth $893,700, more than double the median home value of $366,800 in Massachusetts. With nearly a $12 million annual salary, Walters was one of the highest-paid news anchors . Belvedere, California is just north of Richardson Bay, across the water from San Francisco -- the second richest metro area in the country -- and within driving distance of San Jose, which is the richest metro area. Unfortunately for millionaires and folks of lesser means, New York State taxes take a bite. That helps explain its inclusion on the list of small towns with high concentrations of millionaires. 5). Situated on the northeast shore of White Bear Lake some 20 miles from downtown Minneapolis, Dellwood is one of the wealthiest suburbs in the Midwest. Median household income: $80,853 (state: $59,116), Poverty rate: 4.1% (state: 11.6%), Median home value: $180,700 (state: $147,800). With pristine beaches, lush forests, soaring mountains and relatively few people, Kapaa (and the surrounding area) is an ideal place for a millionaire's tropical island nest. What had fueled this remarkable growth was oil, specifically the discovery of the Glenn Pool oil field in 1905. 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. The median household income in Paradise Valley is nearly four times as high as the median in Arizona. 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. On the downside, Minnesota is not a friendly state (opens in new tab) when it comes to taxes. You can sum up the appeal of Edwards in one word: skiing. 13 Best Vanguard Funds for the Next Bull Market. The top 20 richest towns in America all boast average household incomes above $300,000, while the top five ring up above $400,000. Topsham is a Census-designated place of approximately 6,100 residents located about 25 miles north of Portland, Maine. Median household income: $80,135. Whitefish Bay is a small village of 14,000 residents located less than 10 miles north of downtown Milwaukee. He remains on the Walmart board of directors, and is also the CEO of his own company, Arvest Bank. Large concentrations of high-net-worth households are found in surprising locales across the U.S. Here are the 20 richest counties in the U.S. and the average household incomes of each, according to DailyMail.com's report. In Tega Cay, less than 1% of residents live below the poverty line. Located less than 25 miles west of St. Louis, Clarkson Valley residents have access to employment opportunities in the nearby city, many of them high paying. A suburb of Kansas City, Fairway, like many small cities and towns on this list, is well within commuting distance of employment opportunities in a major city. This table shows the astonishing list of wealthiest counties in America by average household income. 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. Either way, these are the 25 smallest cities and towns boasting the highest concentrations of millionaire households in the U.S. And just for good measure, we're also providing some important tax and cost-of-living information. The typical home is worth $602,000, the most of any small town in Pennsylvania and more than triple the $174,1000 state median home value. The facility has a nearly $3billion annual budget and employs some 13,000 people -- about two-thirds of whom have a college degree. The area sits between Lake Winnisquam and Lake Winnipesaukee in the middle of New Hampshire's famed Lakes Region. The 25 Best Low-Fee Mutual Funds You Can Buy. . When you purchase through links on our site, we may earn an affiliate commission. For example, your friend asks you, "how much money do you have . (See below for yet even more examples.) SECURE 2.0 Act Lets Retirees Defer Some Taxes Longer, Best AI Stocks to Buy: Smart Artificial Intelligence Investments, The 6 Safest Vanguard Funds to Own in a Bear Market, 10 Big U.S. Cities With the Cheapest Apartment Rents, 7 Best Small-Cap Stocks to Buy for 2023 and Beyond, New Hampshire is a relatively tax-friendly state, North Dakota is one of the nation's more tax-friendly states, But for more modest incomes, the impact is far milder, and property taxes are low, reputation as a high-tax state is overblown.