100 richest cities in america

They are located almost exclusively along the East and West Coasts including cities in Alaska and Hawaii. There are likely two reasons for this. 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. It Includes Palm Beach island and the town of West Palm Beach. The top 20 richest towns in America all boast average household incomes above $300,000, while the top five ring up above $400,000. While a healthy job market is important for any metro area's economy, the kinds of jobs available contribute significantly to income levels. Here are 30 great U.S. cities for older Americans, Want to be a high earner? The metropolitan area serving the district, which includes parts of Virginia, Maryland, and West Virginia, has a median household income in excess of $95,000. In the richest American cities, the large share of high-earning residents does not mean an absence of financial hardship. 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. Amazon (NASDAQ:AMZN) founder Jeff Bezos has a net worth of $175 billion today, having more money than several countries across the world. Area colleges and universities awarded 17,891 degrees in 2015 alone. 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. This abandoned high school was converted into a 31-unit apartment building, Hewlett-Packard Enterprise relocating to Houston. A Division of NBC Universal. Nationwide, 31.3% of American adults have a bachelors degree or higher. According to Zillow, homes in San Carlos cost around $2,400,000 as of 2022. The wealthiest cities in the country also tend be geographically concentrated. In eight cities on this list, the typical home is worth over half a million dollars. Homes in Orinda cost even more than properties in San Francisco, which is already one of the most expensive housing markets in the country. Poverty in Bridgeport is not enough to keep the metropolitan area from ranking as the fourth most affluent in the United States. Glen Ridge borough, New Jersey > Median household income: $167,101 > Total population: 7,561 > Median home value: $581,400 > Metropolitan area: New York-Newark-Jersey City, NY-NJ-PA. Nearly 40% of households in the borough of Glen Ridge reported incomes of at least $200,000, compared to just 4.8% of households nationwide. The absolute extremes of wealth and poverty are often found in the same area. More:What's the best place to keep money you need to use soon? However, the cost of living is relatively high in the state thanks, in part, to the cost of transporting goods across difficult terrain. The richest communities in America for years have been in Silicon Valley and the New York City area. Cupertino is in Silicon Valley, west of San Jose, with Los Altos to the north and Saratoga to the south. Here is the list. ALSO READ: The Least Healthy County in Each State. With more than half of all households in the metro area earning at least $75,000 a year, Napa, Calif., is one of the wealthiest metro areas in the United States. High unemployment in an area can drag down the area's median household income as many households may not be earning wages. WebAn income of $0.88 in Birmingham equals an income of $1.27 in San Jose with the U.S as a whole having an average PCPI of $1.00. And three out of four area adults had at least a bachelors degree, compared with 28.8% of residents 25 or older nationwide. Thanks to that influx, Austin has also become a growth market for luxury real estate, according to Henley and Partner's 2023 wealth report. Hearst Magazine Media, Inc. All Rights Reserved. The typical San Francisco area household earns $96,677 annually. WebBillionaires Row. What's the best place to keep money you need to use soon? Effectively every adult had at least a high school diploma, and 86.5% had at least a bachelors degree compared to 28.8% of American adults. Until after World War II, Dix Hills was largely a farming area. 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 two cities are a model case of income disparity in small geographic areas. Over the years, Austin has emerged as a tech hub. 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. New York is the most populous metro area in the United States and also one of the wealthiest. Of the top 10 cities with the largest number of wealthy people, seven saw a decline. 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. Since then, the 2020 median household income has been reported as $67,521, a 2.9 percent decrease since 2019, which is due largely in part to the COVID-19 pandemic.). Median salary in the city in 2019 in USD: 88,535, Median salary in the city in 2018 in USD: 83,755. The MSA makes our list of richest cities in the US, crossing the $85,000 threshold. The typical household in the state capital earns $71,685 a year about $21,000 more than what the typical North Carolina household earns and $14,000 more than what the typical American household earns. There are dozens of success stories of companies starting from garages, and becoming some of the biggest companies in the world, such as Apple (NASDAQ:AAPL), Google (NASDAQ:GOOG) and Amazon. The region is home to several higher education institutions including North Carolina State University. With a median household income of $240,248, Southlakes population earns shockingly more than the average American household, which posted a median income of $69,560 in 2019 (a 15.3 percent increase from the 2017 median of $60,336, which we had previously reported on). Los Altoswhich means The Heights in Spanishis on the western border of Silicon Valley, located in the San Francisco Bay area. For the second year since Bloomberg started to compile the Richest 100, the nations top spot is Atherton, California. The climate of Alaska is not for everyone, with its frigid and dark winters and lukewarm summers. 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. In eight of the 10 wealthiest towns and cities, at least 70% of households consisted of a married couple. Maryland is the wealthiest state in the country. The top 10 wealthiest cities in America. Nationwide, just 13.5% of all workers are employed in these sectors. The total private wealth held by New York residents was found to exceed $3 trillion. Housing costs drive up the cost of living considerably. Fairbanks is the second wealthiest metro area in Alaska and the 13th wealthiest nationwide. An average household income closer to $200,000 is now required to break into the top 100 compared with about $190,000 in last years Bloomberg analysis. Its no surprise that as a college city University Park has the highest education ranking, with 87.8 percent of adults having a bachelors degree or higher. If you want to learn more about how the billionaires got richer, you should consider taking a look at the top 20 richest people in the world. Nationally, less than half of all households included a married couple. More:Which town in your state is the poorest? According to Zillow, the average home value price in the Arizona cityis$750,908,up6.3%over the past year. At the same time, 38.2% of households earned $200,000 or more, versus 4.8% of all U.S. homes. In Winnetka, however, the median home value was $936,200. New York City is home to a number of high paying industries most famously finance. 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. As of March 2018, just 2.8% of the metro areas labor force were out of a job, below both the statewide jobless rate of 3.0% and the national rate of 4.1%. Vector. Housing is a significant component of the areas high cost of living. A recent Bankrate report states that the median sale price for a home in Austin as of January 2023 was $530,000, according to Redfin data. Just 1.9% of the areas labor force are out of work, the second lowest unemployment rate of any metro area nationwide and well below the 4.1% U.S. unemployment rate. Among the largest movers on the list was Highland Park, Texas, which moved up to No. 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. Virtually the entire adult population of the town had at least a high school diploma compared to 86% of adults nationwide. In Orinda, it was 71.6% of all households. Piedmont services the Bay Area, and those employed are much more likely to work in the professional and business sectors. An even larger gap was in higher levels of education as 71.3% of Ho-Ho-Kus' adults had a bachelors degree or greater, well more than twice the national rate of 28.8%. 3. More than 30,000 people lived there as of 2019, with 68.3 percent of adults holding a bachelors degree. 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. First, a high rate of two earners per household raises the median household income. Living in the city will cost you though. New York, for example, has already seen a 12% drop in wealthy individuals in 2022, while Los Angeles saw a 6% decline and Chicago's proportion of ultra-wealthy citizens fell by 4%. The Los Angeles, Chicago and Houston are the other U.S. cities in the top 10, ranking 6th, 7th, and 8th, respectively. Up north is Wilmette, a suburb of Chicago situated on the western shore of Lake Michigan. ^ Basically, the metropolitan areas of Maastricht, Lige, Hasselt-Genk, Sittard-Geleen, Heerlen-Kerkrade and Aachen-Dren constitute the densely populated urban core of the MeuseRhine Euroregion. Homes are expensive in the New York area with a median value of $392,700. The city boasts a population in which 69.7 percent of adult residents have at least a bachelors degree. These Are the 25 Richest Cities in America, U.S. Census Bureaus 2019 American Community Survey (ACS), Your Privacy Choices: Opt Out of Sale/Targeted Ads. This however led to another problem. While the median home value in the San Francisco metro area was just over $600,000, it was $973,600 in Orinda. Taking things inside, the median home value in Westfield is $906,521 in 2022, according to Zillow. 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 typical area household earns $76,254 a year, or about $18,600 more than the typical American household. The area's median income surpasses incomes in the next wealthiest metro area nearby San Francisco by over $13,000. Of adults residing in Westport, 78 percent hold a bachelors degree or higher. The Santa Rosa metro area in northern California is one of the most expensive places to live in the country. Imagine if there are 10 people, where 9 people earn $100,000 and the tenth person earned $10 million. 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! Like many other especially wealthy U.S. areas, financial well-being in Southlake is not shared by many other communities in the region. 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. 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. 10. The San Francisco Bay Area which includes Silicon Valley rounds out the top three wealthiest cities, with 276,400 rich individuals, 12,890 of whom are multi-millionaires. While 86% of adults nationally had at least a high school diploma, at least 97% of adults in the wealthiest city did. Also from the ACS, we reviewed poverty rates, median home values, educational attainment rates, the shares of households making less than $10,000 and more than $200,000, as well as the percentage of households that are married, and have children. Oxnard-Thousand Oaks-Ventura is one of only eight U.S. metro areas where the majority of households earn over $80,000 per year. Goods and services in New York-Newark-Jersey City are about 22% more expensive than they are on average nationwide. Median household income: $224,485. The typical Maryland household earns $78,945 a year, or $21,328 more than the typical American household. The borough of Ho-Ho-Kus is in central New Jersey, roughly an hours commute from Manhattan. University Park is best known for being home to Southern Methodist University, a nationally ranked private university in the suburbs of Dallas. West Palm Beach, Florida, ranked second on the list. In Scarsdale, New York, the wealthiest city, 82.7% of households consisted of a married couple, and nearly half of those had children. The second San Francisco suburb to make this list is Piedmont, which shares Alameda County with Oakland, located just a few miles away. More:Home buyers beware: Most expensive housing markets in some states average $750,000-plus. According toSotheby's listings, homes are currently on sale in the area ranging from $1.9 million to $89 million. The richest cities in each state: Some of wealthiest are in California, Maryland, New York and Virginia Grant Suneson, Evan Comen and Samuel Stebbins ALSO READ: Top Analyst Upgrades and Downgrades: AOL, Cisco, Etsy, GoDaddy, MannKind, Virtu, Caterpillar, Nokia and More. So let's take a look at the cities where you are more than likely to be well off, rather than not, starting with number 30: Median salary in the city in 2019 in USD: 79,251, Median salary in the city in 2018 in USD: 76,653. 1. Additionally, these cities have become prime retirement destinations, Andrew Amoils, head of research at wealth intelligence firm New World Wealth, who collaborated on the report with Henley & Partners, told CNBC. Los Altos Hills, California. Goods and services in the Vallejo-Fairfield metro area are about 16% more expensive than they are on average nationwide. Although Los Altos isnt the wealthiest city in the U.S., it does boast the highest median home value. All Rights Reserved. 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. The top five cities with the fastest growing millionaire populations are not in the U.S., however. Some of these wealthy towns are just a short drive away from the poorest areas in the country. In the Baltimore metro area, 39.5% of adults have a bachelors degree, in line with the 39.3% bachelors degree attainment rate across Maryland. Like Los Altos, Saratoga is another city in the greater San Jose area. 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. Top 5 fastest-growing U.S. cities for millionaires Austin, Texas West Palm Beach, Florida Scottsdale, Arizona Miami, Florida Greenwich and Darien, Connecticut The No. where the concentration of wealthiest cities is the densest). In the Minneapolis metro area, 40.5% of adults have a bachelors degree or higher, well above the 31.3% of American adults and the 34.8% of adults across the state with comparable education. The city had a median home value of $781,000, far above a median of $176,700 nationwide. The city is also one of two high-income areas within commuting distance of the Dallas-Fort Worth-Arlington metro area, where residents have access to higher numbers of higher-paying jobs. Moreover, while 28.8% of adults nationally had at least a bachelors degree, more than 70% of adults in nine of the 10 wealthiest cities did. All but 0.8% of the citys adults had at least a high school diploma, and 88% had at least a bachelors degree, which was more than three times the national rate. Japan's capital Tokyo ranked second with 304,900 wealthy individuals. As is the case with most cities on this list, a large share of adults in Raleigh 47.2% have a bachelors degree. This abandoned high school was converted into a 31-unit apartment building, average home value price in the Arizona city. Raleigh is by far the wealthiest metro area in North Carolina and the 25th wealthiest in the United States. Outside of Washington, South Kensington, Maryland, landed among the top 100 wealthiest in the 98th spot. In addition to its proximity to NYC, Westfield has attractions of its own, including Lenape Park, a 450-acre nature reserve. Essex Fells borough, New Jersey > Median household income: $171,681 > Total population: 2,115 > Median home value: $820,800 > Metropolitan area: New York-Newark-Jersey City, NY-NJ-PA. Connecticut is one of the wealthiest states in the country, and despite ranking as one of the wealthiest metro areas in the country, Hartford's median income is lower than the state as a whole. The most prosperous metro areas in the country often have relatively strong job markets, as evidenced by low unemployment. ALSO READ: The 20 Largest Privately Held Companies in America, 2. 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. Compared to New York, a much smaller proportion of them have assets worth over $10 million. Here are 30 great U.S. cities for older Americans. For most residents, high incomes are necessary to afford the areas high cost of living. [3] Virginia has the most counties in the top 100 with 18. In that sense, its a bedroom community for the nations capital. 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. 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. France's capital Paris fell by three places to 20th, meanwhile, as the city lost 12% of its rich people. Around 345,600 millionaires reside in the Big Apple, alongside 15,470 multi-millionaires who have assets worth over $10 million, 737 centi-millionaires (wealth of $100 million or more) and 59 billionaires, the report said. Average household income: $405,073. ALSO READ: The 20 Largest Private Companies in America. ALSO READ: Bakken Formation Still Has 6 Billion Barrels of Oil, 8. The nearby city of Newark, for example, had a nearly 30% poverty rate, 15.6% of households earned less than $10,000, and just 1% earned $200,000 or more. Just under 98% of adults had at least a high school diploma, compared to 86% of adults nationwide. Some 46.9% of area adults have a bachelors degree or higher, compared to 31.3% of American adults. Another factor to consider is that overall wealth has declined in 2022, Amoils said in a paper released alongside the report. While that may seem quite high, its surprisingly ranked only 57th of the 1,775 cities evaluated. Median Home Value only includes owner-occupied units. More than 26% of West University Place workers were employed in professional, scientific, management, and administrative roles, compared to 10.6% of workers nationwide. Three other western Chicago suburbs made the top 100: Burr Ridge, Oak Brook and Hinsdale. Areas with high incomes often also have high overall cost of living, and this is certainly the case in San Francisco. Los Altos Hills is home to numerous tech billionaires includingSergey BrinandYuri Milner. A Division of NBC Universal. Web100 wealthiest cities (according to zip code) in the United States What are the wealthiest cities in the U.S.? 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. 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. However, the county is also home to Bridgeport, one of the poorest cities in the United States. 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