His wealth has rocketed to $10.9 billion from $4.6 billion in 2020. In Oak Hill, some 78.2% of adults have at least a bachelor's degree -- about three times the 26.6% state college attainment rate and by far the most of any small city or town in Tennessee. Real estate taxes are among the highest in the country, and the state has not only a luxury tax, but the country's only gift tax. He's also written for Esquire magazine's Dubious Achievements Awards. Over the last five years, the number of people living Ocean Pointe jumped by 44%. One whistleblower estimated it at $200 billion. Atherton, CA- Average household income - $450,696. Dickinson's number and percentage of millionaire households declined year-over-year. New Mexico's personal income tax rates top out at 4.9% on taxable income over $16,000 for single filers and over $24,000 for married couples filing jointly. Vineyard Haven is a town on Martha's Vineyard. Clarkson Valley is a small Missouri city of less than 3,000 people. (See below for yet even more examples.) The typical area home is worth about $645,000, nearly double the value of the typical New Jersey home. West Virginia's median household income is one of the lowest among states, at just under $45,000. As a bonus, gun buyers aren't reliant on hit-and-miss sales or once-a-year clearance events, to save money. It is one of the most educated towns in the state, with 48% of the population holding a bachelor's degree. In Gateway, Alaska, most households earn more than $100,000 per year, compared to the statewide median income of $76,715. Less than 2% of the town's 5,500 residents live below the poverty line, a fraction of the state poverty rate. Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016. Top employers in Elko County include the Elko County School District and West Wendover Casinos. The high incomes in the community are due in part to the presence of major companies. Christian. Like all Floridians, Key West's millionaires save a bundle on taxes. 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. By Louis Navellier Batten the hatches for continued market tumult without eating high fees with these six Vanguard ETFs and mutual funds. The typical household in Vermont earns about $60,000 a year, in line with the national median household income. Mississippi: Sherwood-Audubon Area, Jackson. It's a small area with a small population but a large percentage of highly educated and highly trained engineers and scientists. A popular New England vacation destination, Hampton is home to some of the most expensive houses in New Hampshire. Median household income: $80,666 (state: $44,921), Poverty rate: 4.1% (state: 17.8%), Median home value: $220,100 (state: $115,000). The largest companies in the area include government tech contractor Booz Allen Hamilton, Inova Health System, and government-sponsored finance giant Freddie Mac. 2,047) 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. 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. Some 22.6% of households earn $200,000 or more, more than five times the comparable 4.4% of households throughout Wisconsin. New York, 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. Since then, the 2020 median household income has been reported as $67,521, a 2.9 percent decrease since 2019, . All 30 Dow Stocks Ranked: The Pros Weigh In. Horace is a small bedroom community located roughly 10 miles southwest of downtown Fargo. 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. It's a good thing, too, considering the high price of homes in the area. Bridgeport's median is just over $80,000, which is the highest of any municipality in the state but one of the lowest on this list. We added hundreds of new lists - see our top 101 city lists. Boating, fishing, snorkeling, scuba diving and lazing on the beach are just some of Key West's draws. Median household income: $180,541 (state: $63,575), Poverty rate: 1.2% (state: 13.1%), Median home value: $625,100 (state: $187,200). The typical household earns $127,351 a year, more than double the $59,393 the typical Oregon household earns. Hefty income taxes and high property taxes make the Empire State one of Kiplinger's 10 least tax-friendly states. The rules that keep American housing expensive. Winnetka - $311,902. . Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts. Reply. Median household income: $73,015 (state: $45,726), Poverty rate: 8.8% (state: 17.6%), Median home value: $170,700 (state: $123,300). NY 10036. Median household income: $80,853 (state: $59,116), Poverty rate: 4.1% (state: 11.6%), Median home value: $180,700 (state: $147,800). If your ideal summer retreat is a lakeside getaway, you could hardly do better than Laconia. 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. When folks think of Steamboat Springs, its reputation as one of the best ski resort towns in the world is likely what first comes to mind. A million bucks in liquid assets isn't what it used to be, but it's still really hard to amass. What started as a small farming community in the 1870s now has some the most expensive homes in North Dakota. More importantly, it makes Laconia a relatively easy drive from points farther south where millionaires maintain their primary residences. Great Falls is the richest town in Virginia and one of the richest in the entire country. Watch on. Known as the Garden Island, Kauai is one of the state's less developed locales. Pound Ridge, NY (pop. The U.S. poverty rate is 14.1%. Less Diverse. Disclosure: Dan does not trade stocks or other securities. Sean Hannity is the wealthiest anchor on television. 30.0. The typical household in Oak Hill earns $159,167 a year, more than triple the median household income of $50,927 across Tennessee as a whole and the most of any small city or town in the state. The Faribault-Northfield area is so desirable that Kiplinger has named it a great place to retire. As for taxes, millionaires could do worse. Known for high-income levels and a low unemployment rate, Luxembourg is the richest country in the world. The small city has grown in tandem with SMU and the larger Dallas metro area, increasing from a population of 4,200 in 1930 to 24,954 today. Median household income: $132,587 (state: $52,413), Poverty rate: 1.7% (state: 15.4%), Median home value: $443,600 (state: $165,900). 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. This level of education qualifies Genesee residents for many of the high-paying jobs in the Denver area. While incomes and home values often correlate, housing in Spring Creek is more affordable than in much of Nevada. To ensure accuracy, we only considered places where the margin of error for population and median household income was less than 10%. 24/7 Wall St. reviewed the median annual household income in over 2,600 cities, towns, villages, and census designated places to identify the richest town in every state. The Mount Washington weather station, 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. . This island off the coast of Cape Cod the Census Bureau classifies the entire island as part of the Vineyard Haven micro area is one of the most desirable summer vacation spots in the Northeast and has long been a favorite of the rich, the famous and the powerful. Median household income: $129,081 (state: $58,580), Poverty rate: 0.7% (state: 11.7%), Median home value: $301,700 (state: $142,300). New Albany boasts 53 miles of walking trails, more than 2,000 acres of parkland, and a 5,000 acre business park. The mansions of America's wealthiest could just be a short trip from where you live although you might need a boat to get there. Median household income: $92,052 (state: $47,942), Poverty rate: 3.6% (state: 19.4%), Median home value: $234,500 (state: $157,800). Published 21 December 22. small cap stocks The county seat of Loudoun is in Leesburg, where most administration activities take place. Hudson has become popular with millionaires and non-millionaires alike thanks to its myriad restaurants, art galleries and nightlife. 6. Atherton is a small neighborhood of about 7,000 people and it is located in the heart of . 2020-10-14T13:25:00Z . 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.". That makes for easy access to the White Mountain National Forest about 30 miles to the north. The median household income is $94,027, and the median home value is $503,000. Rank City Income; 1. Most homes in Belvedere are worth more than $2 million. 20. Percentage of global population: 1.2%. The typical home in New Albany is worth $494,600, more than three times the state median home value of $140,000. 65 Best Dividend Stocks You Can Count On in 2020. More than three out of every four adults in the area have a bachelor's degree or higher, compared to 41.9% of adults in Massachusetts. "Sprawling residences set amidst landscaped gardens and a beautiful backdrop.". Let's break out of Northern California and talk about an expensive Florida neighborhood - Port Royal, located in Naples. The Oak Harbor, Washington, micro area actually encompasses all of Whidbey Island. 12 Cheapest Small Towns in America 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 fact, every season challenges the next for which is more beautiful.". In winter, it's all about skiing. They have new homes, drive new cars, and have bright futures. 1 Boca Grande. A suburb of Detroit, Bloomfield Hills is located less than 30 miles from Hamtramck, the poorest community in the state where most households earn less than $26,000 a year. In most of these cities, people have it made, financially. 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. This abandoned high school was converted into a 31-unit apartment building. The typical Montana City household earns $93,194 a year, the most of any small city or town in Montana and far more than the $52,559 state median household income. By Jeff Reeves Glenwood Springs has collected many accolades over the years. An 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. South Carolina has one of the higher poverty rates among states, at 16%. tech stocks Most households in the town earn more than $150,000 annually, and more than one-third earn over $200,000. The downside? A far higher than average share of workers in Buckner work as health diagnosing and treating practitioners, which are generally high paying jobs. 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. List of Top 10 Highest Paid News Anchors in India. With nearly a $12 million annual salary, Walters was one of the highest-paid news anchors . Seattle, Tacoma, and Bellevue combine to become some of the richest cities in America. The economy in Los Alamos is supported by the Los Alamos National Lab -- a research and development center for the Department of Energy and the National Nuclear Security Administration. Reply. In some cases, these locations benefit from being popular recreational areas or havens for wealthy retirees. : Hertz is selling thousands of used cars in its fleet in bankruptcy at bargain prices, Save better, spend better: Money tips and advice delivered right to your inbox. Whitefish Bay is a small village of 14,000 residents located less than 10 miles north of downtown Milwaukee. So it should come as no surprise that Breckenridge would make the cut. And when demand finally started to improve, the COVID-19 pandemic slammed the energy sector. 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. Jim Walton is the last heir to the Walmart fortune. Most such agglomerations are economically, socially and culturally dominated by one city at their centre. The average household income of people in this town is calculated as $450,696. Access to these two hubs for high-paying jobs is likely a major contributing factor in Belvedere's high incomes -- the city has a median household income of over $223,000 -- the highest in California and one of the highest in the nation. With its covered bridges, forests and rivers, the scenery is gorgeous. Austin, Texas. Wanna be a billionaire? Warren Buffett Stocks Ranked: The Berkshire Hathaway Portfolio. Genesee has a median annual household income of nearly $160,000, more than double the state median. The typical household in the area earns $88,199 a year, a higher median income than in every other small city or town in the state. Even in Brandon, the wealthiest place in the state, the typical household earns $74,172 annually -- which, while high in the context of Mississippi, is less than the median income in half a dozen states, including Alaska, Connecticut, and New Jersey. 12. Building on this momentum, Duke Energy Corporation and the state's rural electric . Median household income: $92,688 (state: $74,057), Poverty rate: 4.3% (state: 7.9%), Median home value: $358,300 (state: $252,800). 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. Naturally, this tony locale is not easy on the wallet, as evidenced by the exorbitant real estate prices. Upper Saddle River Borough in Bergen County - Median Income of $171,747. With a median household income of $156,205, Duvall is the wealthiest small city or town in the state. 1 city on the list is . Located along the Connecticut River bordering Vermont, this 50-square-mile town in the Upper Valley is home to Dartmouth College, the smallest of the eight Ivy League colleges. The typical Inverness household earns $180,541 a year, nearly three times the median household income of $63,575 across Illinois as a whole and the most of any small city or town in the state. Heres how it works. Advertisement - Continue Reading Below. The area sits between Lake Winnisquam and Lake Winnipesaukee in the middle of New Hampshire's famed Lakes Region. 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. 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. For year-round activities, the Heber Valley features five 18-hole championship golf courses, three state parks and a historic tourism railroad. Roughly 35 miles south of the state capital of Albany, the area abuts the banks of you guessed it the Hudson River. Weddington is a small town of approximately 11,000 residents located 16 miles south of downtown Charlotte. 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. The wealthiest 1% of Americans hold an amazing 40% of all wealth. Much of Alaska's wealth is tied to the energy business. Fly fishing, hiking and whitewater rafting draw folks to town in the summer months. Published 11 January 23. stocks The self-made hyper-rich say these things are the key to getting there. Given the school's very highly selective . Median household income: $204,145 (state: $56,213), Median home value: $1,505,300 (state: $209,600). 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. More than 10% of Alaska residents live in poverty, yet the poverty rate in Gateway is just 4.2%. Oklahoma has one of the lower median household incomes among states, at $51,424. The 25 Best Low-Fee Mutual Funds You Can Buy. Here in Utah, things couldn't be more odd. 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. 11 March 2007: The tables provide GDP figures for cities and their surrounding urban areas in 2020. Duvall is a small city of about 8,000 people located 25 miles northeast of Seattle. Median homes prices top the U.S. median by more than $159,000. But this comes at a cost. The net impact of accounting for differences in the purchasing power of a dollar in . Wealthy areas tend to be home to well-educated populations -- and Bloomfield Hills is no exception. More than one in every five households in the area earn over $200,000 a year. 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. The Cannon River runs through town, and several parks and walking paths provide access to fishing, canoeing and kayaking. Chevy Chase Village, MD (pop. The median annual household income in Ocean Pointe is $114,801, more than in any other small city or town in Hawaii. Destrehan is a Census-designated place with 11,000 residents, located about 20 miles west of downtown New Orleans. 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. A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. But the state has a 4.95% flat income tax system, property taxes are low and sales taxes are average. Rank Metropolitan statistical area Population Per capita income 1 Washington-Arlington-Alexandria, D.C-Virginia-Maryland MSA 5,949,178 $47,411 While many of the highest paying jobs tend to concentrate near large population centers, there are also smaller towns that are very prosperous. Median household income: $100,641 (state: $76,715), Median home value: $296,500 (state: $265,200). All of the wealthiest neighborhoods in America on Bloomberg's Richest Places Index have average household incomes over $300,000. An 85-year Harvard study found the No. Adjusted median household income: $103,100. Dalton Gardens is north of Coeur d'Alene, Idaho, and across the border from Spokane, Washington, giving its residents access to two major population centers where they can find employment. 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 . The Hudson Historic District is listed with the National Register of Historic Places. At the same time, the town offers easy access to several major cities. Oak Harbor itself plays host to nearby Naval Air Station Whidbey Island. 18 Stocks Warren Buffett Is Selling (And 6 He's Buying). For the fourth year in a row, the suburb of Atherton, California topped Bloomberg's annual Richest Places Index. Honolulu in Hawaii is one of the 100 Richest Cities in America #8. In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics and more. The median household income in Edgeworth is $161,641, making it the wealthiest municipality in Pennsylvania. Glencoe - $308,625. The greater area we're talking about here spills over into Idaho, too, and includes Grand Teton National Park, as well as parts of Yellowstone National Park and The Teton Wilderness Area. Median household income: $123,220 (state: $48,392), Poverty rate: 11.5% (state: 17.9%), Median home value: $328,000 (state: $135,300). Here are the 10 leading cities for the wealthy for 2019. Miami, Florida. Here is the list of top 14 wealthiest towns in America as of March 2023 1. The median annual household income is over $228,000 -- more than triple that of the state. Here are the 20 richest counties in the U.S. and the average household incomes of each, according to DailyMail.com's report. If you need access to specialists not available at Northfield Hospital & Clinics, the Mayo Clinic is about 60 miles away, in Rochester. Microsoft co-founder Paul Allens estate in Atherton, CA, recently sold for a hefty $35.25 million. The Evergreen State makes the cut because it doesn't have an income tax. Across Missouri, 28.6% of adults have a four-year college education. The Hudson, New York, micro area has emerged as an upstate hidey-hole for the well-heeled. The Golden State's reputation as a high-tax destination is built in part on how aggressively it goes after big earners, with a 13.3% tax rate that kicks in at $1 million (for single filers) of taxable income. For the fourth straight year, Atherton topped Bloomberg's Richest Places annual index. And the long, snowy winters are perfect for the numerous ski resorts in the vicinity of Truckee and Grass Valley. ), "There's something for everyone: art galleries, outdoor activities, shopping, great food. Spring Creek is a small suburb of approximately 14,000 residents in Elko County in northeast Nevada. In Brandon, most households earn over $84,000 a year, about $28,000 more than the typical South Dakota household. Rock Springs is a city located at the intersection of Interstate 80 and US 191 in Sweetwater County in southwest Wyoming. More than 8,000 people call Upper Saddle River in Bergen County home. 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). Future US, Inc. Full 7th Floor, 130 West 42nd Street, 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. And just when Alaska could see an end to the downturn, COVID-19 hammered the energy sector. Los Alamos sounds like an unlikely place to find a lot of millionaires, but we're talking about the concentration of millionaire households, not the total number of millionaires. You'll find the Truckee-Grass Valley area on the California side of Lake Tahoe, with Truckee proper situated near the shore of the famed lake itself and Grass Valley sitting farther to the west. Higher prices have been a major headache for investors, but these best inflation-proof stocks could help ease the impact. As a result, Hanover buzzes with a diverse mix of art, culture and outdoor sporting and recreational activities year-round. Income distibution for all U.S. cities. Edgeworth is a small borough of approximately 1,600 residents located some 12 miles up the Ohio River from downtown Pittsburgh. 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. Rents jumped nationwide over the past year, but these big U.S. cities remain comparatively affordable for apartment dwellers. (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. Real estate values in Winchester reflect the area's high incomes. All 50 have among the highest share of adults with a bachelors degree in their states, and all but four exceed the U.S. bachelors degree attainment rate of 31.5%. High paying jobs typically require a college degree, and Destrehan residents are far more likely than the typical Louisiana resident to have a college education. . Some 39% of adults have a bachelor's degree or higher, well above the comparable 23.7% share of adults across the state as a whole. Here's how Big Daddy Unlimited's subscription services . These commodity ETFs offer investors exposure to the diverse asset class, which is a helpful hedge against inflation. Median household income: $108,299 (state: $55,679), Median home value: $349,500 (state: $166,800). By: News 12 Staff. Median household income: $72,537 (state: $55,425), Poverty rate: 10.6% (state: 12.5%), Median home value: $218,800 (state: $184,500). High-income areas tend to have well-educated populations -- and Duvall is no exception. 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. Heber boasts world-class recreational activities for the wealthy and regular Joes alike. You can sum up the appeal of Edwards in one word: skiing. Median Home Value: $288,200. In Los Alamos, most households earn over $100,000 a year. 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. 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Median household income: $84,075 (state: $56,499), Poverty rate: 2.5% (state: 13.6%), Median home value: $206,600 (state: $159,100). What had fueled this remarkable growth was oil, specifically the discovery of the Glenn Pool oil field in 1905. Seattle-Tacoma-Bellevue. According to Niche, the national percentage is 20%. Not only is there no state income tax, but the government actually pays residents an annual stipend. Does it really matter if Aunt Jemima and Uncle Ben get retired?