[1] As of October 2020, there were 614 [2] billionaires in the United States. Empleos Highland Park TX (income: $365,025/ bailout: $4.5 million) The richest town in Texas, the median home price is $1.5 million. In addition, this city has a low unemployment rate, and one of the state's lowest poverty rates. The prize for the highest Gini on our list goes to Greenwich, Connecticut, with its 0.65 reading, suggesting a much higher proportion of its residents wealth were in the hands of far fewer households. 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. Pennsylvania. Despite being home to more than a third of the countrys richest cities, California is not the richest stateMaryland, with a median household income of $86,738, isnor is it home to the richest city. MINNEAPOLIS--(BUSINESS WIRE)--Ameriprise Financial Inc. (NYSE: AMP) today announced that 135 of its financial advisors were named to the Forbes "Top Women Wealth Advisors Best-In-State" list . There are very little liquor stores or smoke shops. Other NYC newcomers include the first NFT billionaires identified by Forbes: Devin Finzer and Alex Atallah, the cofounders of the buzzy blockchain startup OpenSea. (Photo by Justin Sullivan/Getty Images). The Richest Women in America in One Graphic The majority of the world's billionaires hail from the United States. Some of the biggest companies with offices in the city include Roku, Sees Candies, and a handful of software companies (Saratoga is on the outskirts of Silicon Valley). 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). We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. Combining these, we generated lists of the richest city and poorest city in each state were then identified. 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. So, you're not as 'rich' in Fremont as you would be in, say, Cary, NC. Of course, the South, East, and West coasts arent the only places where wealthy cities exist. Is Prince Andrew Moving to Frogmore Cottage? We then averaged the three rankings into a rich score with the lowest overall score being crowned richest in America. Residents can head down to places like Baylands Park, stare across the water, and plot their next venture capital strategy. Hearst Magazine Media, Inc. All Rights Reserved. (That said, the latest five-year ACS accounts for years 20142018. While that might seem high, for an entire city, it's really low. Atherton, CA (income: $525,324/ bailout: $3.8 million) - With a median home price of. Los Altos- $326,456. Allowing cities with less than 1,000 households to be included generated a list of cities that are even more extreme in their incomes, though many of these places have less than a hundred households or just a few hundred. (Thats not to say it shouldnt be addressed though.). In 2019, Apple invested $1 billion to build a new campus. But money does indeed buy happiness. Does being rich make you a happier person? Another interesting fact about the city? Cities like New York City and L.A. might be some of the wealthiest in America, but it's smaller cities that are becoming more and more appealing to millionaires. A new report ranks the friendliest cities and regions in the world . Just about all households who live here earn well over $100,000 a year annually. Cary is just a perfect little slice of heaven outside of Raleigh. Moving from West to East, Americas second richest town is Scarsdale, New York, which is just 35 minutes outside of New York City. So, while your little small town might be rollin' in the dough, we're only looking at the most populated areas. In fact, most have bigger bank account than you will ever have. So, what's the richest big city in America according to the data? According to a recent study, if you earn about $95,000 a year, you're optimally happy. The richest communities in America for years have been in Silicon Valley and the New York City area. Musk's estimated net worth is $251 billion, which is over 13 times richer than Dalio, the richest person in Connecticut. Using data from the U.S. Census Bureaus 2019 American Community Survey five-year estimates, we analyzed nearly 30,000 U.S. cities, towns, villages, boroughs and Census-Designated Places (CDPs) in terms of their median household income and mean household income. For a table of the richest and poorest cities in every state with no size restriction, go to the end of the article. 5. When you click through real estate links on our site, we earn an affiliate commission. Abu Mubarik . with a median household income of $250,001. Of Potomac residents with a minimum 10-figure net worth, Mitchell Rales is the wealthiest, worth an estimated $1.4 billion. The South Korean capital is back on the list for the first time since 2019. Together, these two factorshigh college education and low poverty ratesare common among Americas richest cities (which will be apparent in the slides ahead). Frankly speaking, Kansas is one of the best places you can live. . Lying at the midway point between San Francisco and San Jose, the city is one of the wealthiest in the entire country (not just the state!) Obvious. Considering this city has its very own television show centered around wealthThe Real Housewives of Potomacits no surprise that its one of the richest places in America. Bloomberg released its annual Richest Places index, revealing the wealthiest towns in the US. At one point or another, Dolly Parton, Taylor Swift, Keith Urban, Sheryl Crow, and Eli Manning have all called the upscale city home. The median home value in Darien is $1,637,673, according to Zillow. Displayed are the top 100. The town of 152569 high-priced residents has a median income of $150,464 and a median home value of $1397200.0. Surprisingly, three of the 20 richest towns in America are in the Midwest, two are in Texas, and one is in Colorado. We're climbing higher and higher up the money tree, as we visit the very wealthy city of Centennial, Colorado. The tony town sits on Long Island Sound and was known as Sound Beach in the 19th century. Crazy Rich Asians would maybe even consider buying a home here. Bloomberg released its annual list of the richest town . The COVID-19 pandemic has affected both high- and low-income communities, but its unclear why such wealthy neighborhoods need so much money to weather the storm. Population: 139,216Rank Last Year: 8 (No Change)Median Income: $96,548 (32nd best)Unemployment Rate: 3.1% (4th best)More on Olathe: Real Estate|Crime|Cost Of Living. As New York thrived, Beijing and other Chinese cities floundered amid regulatory crackdowns by Chinas government on industries ranging from ecommerce to after-school tutoring. They also get an excellent location by the bay. These GMP per capita figures help uncover underlying economic trends, which are often masked by the population inflows and outflows that affect . The HomeSnacks money train takes its next stop in Olathe, Kansas. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. The 10 Richest Cities In The US For 2022 Cary, NC Centennial, CO Frisco, TX Sunnyvale, CA Fremont, CA Bellevue, WA Pearland, TX Olathe, KS Overland Park, KS League City, TX Is everyone in these places loaded? Sign up now:Get smarter about your money and career with our weekly newsletter, Top 10 U.S. towns where millionaires are buying second homes3 of them are in Florida, I flew first class for the first time everheres why the upgrade from economy was worth it, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. Welcome to Bellevue, Washington, our 6th most richest city in America. There's a lot of old money here, too. #5. Lafayette sits to the east of Berkeley and touts notable wealth. Does being rich make you out of touch with reality? PalmBeach, Floridahome of President Donald Trumps Mar-a-Lago country clubranked second. The average income is $76,000 and the average house price is $207,000. Keep reading to learn more about the top 20 richest towns in America. You may opt-out by. Hearst Magazine Media, Inc. All Rights Reserved. Just ask someone without it. What? Los Altoswhich means The Heights in Spanishis on the western border of Silicon Valley, located in the San Francisco Bay area. Surprised by that? Los Altos Hills might've lost the title of "Wealthiest Town in the U.S." to Atherton, but the town is still one of the most desirable places to live in California. There are six cities in where the median household income is less than $20,000: (1). Thats one takeaway from the latestBloomberg analysisof2016 U.S. Census data. 4 top billionaire city in 2021 to No. The median household income is $94,027, and the median home value is $503,000. While the wealth of the city is high, the poverty rate is notably low, at just 2.5 percentthe 11th lowest of 1,775 cities. We were. One look at the real estate in the area, and its safe to say that Atherton is a sanctuary for the mega-wealthy. Its located five miles north of Dallas. You can get just about any demographic on just about any city center. Forbes in Boydton, VA Expand search. Speaking of wealth, Athertons average household income is a mind-boggling $525,324, up $74,638 since 2017, when it was last recorded by Bloomberg. Phillip Roths first book, Goodbye, Columbus, was largely set in Short Hills. The greater San Jose area isnt the only place where affluence is centered in California though. One reason for Southlake's wealth? 9 Beautiful Tables from the 2023 Orchid Dinner, Yoko Ono Is Moving to a Farm in Upstate New York, 6 Auction Etiquette Tips Everyone Should Know, Inside the Mansion from Netflix's Outer Banks, Queen Elizabeth Inspired Kate's Opera Gloves, Kate Middleton's Most Iconic Jewelry Moments. Below youll find a table including the richest cities in every U.S. state as of 2021. #4. It then ranked each by average household income. 9 Beautiful Tables from the 2023 Orchid Dinner, Yoko Ono Is Moving to a Farm in Upstate New York, 6 Auction Etiquette Tips Everyone Should Know, Inside the Mansion from Netflix's Outer Banks, Queen Elizabeth Inspired Kate's Opera Gloves, Kate Middleton's Most Iconic Jewelry Moments. Scarsdale, NY (income: $452,041/ bailout: $8.8 million) With a median home sales price of $1.2 million, Scarsdale is the richest town on the East Coast. Shenzhens richest person, Tencent chairman and CEO Ma Huateng, also took a hit. All these cities have at least 1,000 households. Diogenes the Cynic may well have had much to teach Elon Musk, the modern day Alexander the Great, write Massimo Pigliucci and Existential Comic creator Corey Mohler. where the concentration of wealthiest cities is the densest). Yeah they are. Of course, the citys homes arent too shabby either, with typical values around $1,800,000 in 2022, according to Zillow. Our next stop, Fremont, California, probably won't come as a surprise to anyone who lives in the state. Better-educated workers tend to make more money. The 10 Richest Towns in America. Figure 3. This North Shore Chicago suburb in Illinois Cook County is home to the Chicago Botanic Garden, a 385-acre living plant museum with 27 gardens, 4 natural areas, and six miles of lake shoreline.