100 richest towns in america 2020

Individuals with greater educational attainment are more likely to have high-paying jobs. 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. Fitness buffs have plenty of options: In the snowy Minnesota winter, you can cross-country ski along miles of groomed trails or snowshoe through Carleton's Cowling Arboretum. Cumberland Hill is a small Census-designated place of about 8,000 residents located in northern Rhode Island. Laconia, New Hampshire. Carson City, capital of the Silver State, is just 20 miles to the north of Gardnerville Ranchos, and high rollers can reach Reno's casinos in an hour. In many cases, the chef is why someone visits a restaurant. 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. Concord also is a major distribution, industrial and transportation hub. He has written for The Wall Street Journal, Bloomberg, Consumer Reports, Senior Executive and Boston magazine, and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among other publications. Top 100 cities with highest median household income Previous toplist Next toplist . Only 4.5% of the community's families fall below the poverty line, and with a mean household income of $339,883, residents can boast of being some of the wealthiest in the entire state of Illinois. So it should come as no surprise that Breckenridge would make the cut. The median household income in Highland Lakes is more than triple the median income across Alabama as a whole. With everything from ski resorts to beaches, the Lake Tahoe area offers year-round activities for well-heeled tourists and full-time residents alike. . Loudoun County is the richest county in the USA, with an estimated average household income of $ 117,876. The rugged mountain terrain is ideal for hiking, mountain biking, camping, you name it. Ocean Pointe is a Census-designated place on the island of Oahu within commuting distance of Honolulu. Median household income: $153,417 (state: $53,267), Poverty rate: 5.5% (state: 14.8%), Median home value: $919,800 (state: $196,800). Published 24 January 23. recession Bloomfield Hills is the wealthiest place in Michigan. Idaho's median annual household income is just over $53,000, which is lower than the majority of states. 2,047) Now in its 17th edition, this year's Report provides a detailed analysis on economic performance, wealth creation and asset classes around the globe, as well as our forecast for commercial and . Relative to much of the country, median incomes do not vary much from place to place in Vermont. Small cities and towns are listed by percentage of millionaire households, from lowest to highest. Everything costs more in Juneau. Edgeworth was originally developed in the late 19th century as a haven for managers and professionals wanting to escape the pollution of industrialized Pittsburgh, and today it has some of the most expensive homes in the state. Complete list click for interactive table. Not only is there no state income tax, but the government actually pays residents an annual stipend. The title of most expensive town in Florida goes to the South-West beachside paradise, Boca Grande. Known for high-income levels and a low unemployment rate, Luxembourg is the richest country in the world. Honolulu in Hawaii is one of the 100 Richest Cities in America #8. Boating, fishing, snorkeling, scuba diving and lazing on the beach are just some of Key West's draws. Tiny Elko, Nevada, owes its high concentration of millionaires to its status as the capital of Nevada's gold mining industry. The states with the highest number of the richest cities are California with 23, New Jersey with 18, and New York with 13. By Kyle Woodley Tiny Easton, on the Eastern Shore of the Chesapeake Bay, prides itself on its out-of-the-way feel, with country farms mixing with lavish waterfront estates. Posted Mon, Feb 24, 2020 at 12:35 pm ET. The median household income in Paradise Valley is nearly four times as high as the median in Arizona. Atherton, California tops the list for the fourth . In the last five years, the number of people living there jumped by 33.9%. Looking to buy a car? Latest checked 2011 [1] The Church of Jesus Christ of Latter-day Saints. Billionaires say to be successful, do these simple things every day. But high concentrations of millionaires can be found in some far-flung places too. 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. Originally developed as housing for the teachers and staff of Southern Methodist University in the early 1920s, University Park has since developed into one of the wealthiest communities in the country. Here are the top 10 richest places in the U.S., according to Bloomberg: For the full list of 200, take a look at Bloomberg's ranking. Within five years, Tulsa had grown from a rural crossroads town in the former Indian Territory into a boomtown with more than Horace is a small bedroom community located roughly 10 miles southwest of downtown Fargo. 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. Rank City Income; 1. Here is the list of top 14 wealthiest towns in America as of March 2023 1. Multiple bodies of water including Donner Lake, where the Donner Party met its gruesome demise, make the entire area a recreational haven for water sports. 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 median annual household income in Ocean Pointe is $114,801, more than in any other small city or town in Hawaii. Percentage of global population: 1.2%. Glencoe - $308,625. The Highest-Paid News Anchors in 2019 1. The Beehive State isn't as tax-friendly as it used to be (opens in new tab). 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. Loudoun County. Christian. so you don't miss any videos: http://goo.gl/0bsAjO Over the past year, housing . Estimates of millionaire households provided by Phoenix Marketing International. Median household income: $80,666 (state: $44,921), Poverty rate: 4.1% (state: 17.8%), Median home value: $220,100 (state: $115,000). There are six cities in where the median household income is less than $20,000: (1) Livingston . The Top 10 CHEAPEST Cities to live in the United States for 2020. The aforementioned Park City, which hosts Robert Redford's Sundance Film Festival, also boasts several world-class ski resorts. (See below for yet even more examples.) 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. List of Top 10 Highest Paid News Anchors in India. West Virginia's median household income is one of the lowest among states, at just under $45,000. Most households in the town earn more than $150,000 annually, and more than one-third earn over $200,000. Here are . The bottom 90% hold less than 25% of the total wealth. 10 Dividend ETFs to Buy for a Diversified Portfolio. A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. Pinecrest, Florida, is located a few miles south of Miami, just inland from Biscayne Bay. 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. The typical home in Rock Springs is worth $217,400, slightly more than the $213,300 state median home value. 100. worldwide. A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. Does it really matter if Aunt Jemima and Uncle Ben get retired? The town is just outside of Anchorage, Alaska's largest city, providing residents access to many, likely higher-paying, employment opportunities. 1 Boca Grande. All four have average incomes upwards of $400,000. 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. Like many prosperous communities, New Albany is growing rapidly. Adjusted median household income: $103,100. Kiplinger is part of Future plc, an international media group and leading digital publisher. Median household income: $93,364 (state: $51,424), Median home value: $205,100 (state: $130,900). 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. Whitefish Bay is a small village of 14,000 residents located less than 10 miles north of downtown Milwaukee. 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. And on that relative basis, Los Alamos really stands out. The typical household in Rock Springs earns $75,441 a year, more than the $62,268 state median household income but less than the vast majority of places on this list. The typical home in Papillion is worth $180,700, far more than the $151,100 median home value in neighboring Omaha and the $147,800 state median. We have yet one of the Richest Cities in California on our list at the eight spot and that is Oxnard-Thousand Oaks-Ventura. It is a short drive from Charlotte. Atherton isn't the only town touting notable wealth, though. Although gold mining is no longer much of a growth area, pulling the yellow metal from the ground does remain a productive endeavor. 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. 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.". These places aren't in the best states to move to in the USA, but a few are some of the wor. Click for the full list. The typical household in Spring Creek earns $97,143 a year, far more than both the state median household income of $57,598 and the national median of $60,293. High-income areas tend to have well-educated populations -- and Duvall is no exception. 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. 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. Median household income: $180,541 (state: $63,575), Poverty rate: 1.2% (state: 13.1%), Median home value: $625,100 (state: $187,200). The wealthiest town in the state, Destrehan's median household income of $92,052 is nearly double the median income across Louisiana of $47,942. The three largest employers in Linn County, where Robins is located, are in the aerospace, insurance, and health care fields, all of which can pay relatively high salaries. Atherton is joined by Scarsdale, New York (No. Disclosure: Dan does not trade stocks or other securities. Sign up here, Your California Privacy Rights/Privacy Policy. While many of the highest paying jobs tend to concentrate near large population centers, there are also smaller towns that are very prosperous. Rank Metropolitan statistical area Population Per capita income 1 Washington-Arlington-Alexandria, D.C-Virginia-Maryland MSA 5,949,178 $47,411 But the area offers a wealth of outdoor fun year-round. In Essex Junction, the wealthiest small city or town in the state, the median household income is just $75,439. The rules that keep American housing expensive. Los Angeles, Chicago and Houston round out the top five . The Cannon River runs through town, and several parks and walking paths provide access to fishing, canoeing and kayaking. The Summit Park micro area, which also includes Park City, is a short drive from Salt Lake City and has the second highest concentration of millionaire households of any small town in the U.S. Median household income: $133,768 (state: $68,374), Poverty rate: 2.6% (state: 10.3%), Median home value: $536,100 (state: $256,700). Median household income: $97,143 (state: $57,598), Median home value: $225,400 (state: $242,400). Arizona has one of the highest poverty rates of any U.S. state, at 16.1%, 2 percentage points higher than the U.S. rate. To clarify: That means they have at least $1 million in investable assets. Inverness is a suburb located some 33 miles northwest of downtown Chicago in Cook County. Median household income: $92,052 (state: $47,942), Poverty rate: 3.6% (state: 19.4%), Median home value: $234,500 (state: $157,800). There's been a lot of panic surrounding the mass exodus of wealthy residents from New . In fact, every season challenges the next for which is more beautiful.". Median homes prices top the U.S. median by more than $159,000. As we shall see, another area near Laconia makes this list of small towns with a high percentage of millionaires. Jim Walton is the last heir to the Walmart fortune. Due in part to a warm climate, proximity to the ocean, and access to a major city, homes in Pinecrest are expensive compared to statewide home values. Upper Saddle River Borough in Bergen County - Median Income of $171,747. With over 55% of residents 25 and older holding at least a bachelor's degree, Robins one of Iowa's most highly educated towns with residents qualified for the many high-paying jobs available nearby in places like Cedar Rapids. Of all area residents 25 and older, 70.6% have a bachelor's degree or higher compared to 28.6% of adults across the state as a whole. Some 22.6% of households earn $200,000 or more, more than five times the comparable 4.4% of households throughout Wisconsin. In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics and more. NEW ALBANY, OH A Bloomberg report identified the 100 richest towns in America, and three Ohio cities made the cut. March 6, 2018 9:00am by Barry Ritholtz. 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. ", 91 Top Dividend Stocks From Around the World. Here's how Big Daddy Unlimited's subscription services . the Reasons To Do It, Making A Restaurant Thrive Finding The Best Chef, Critical Mistakes to Avoid in Strategic Communication, Overcoming the Challenges of Launching a Unique Business, Inclusion and Diversity at CEOWORLD magazine. The Aloha State is known for its high cost of living and a mixed picture when it comes to taxes (opens in new tab). 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The Hudson, New York, micro area has emerged as an upstate hidey-hole for the well-heeled. NY 10036. The Federal Reserve has been aggressive in its rate hiking, and it's likely not done yet. In Darien, a small Census-designated place in southwest Connecticut within commuting distance of New York City, the typical household earns $210,511. For the fourth straight year, Atherton toppedBloomberg'sRichestPlaces annual index. And when demand finally started to improve, the COVID-19 pandemic slammed the energy sector. 10. The town's widespread prosperity suggests that Ocean Pointe is a desirable place to live. On the plus side, Alaska is one of the most tax-friendly states in the union (opens in new tab). Top employers in Elko County include the Elko County School District and West Wendover Casinos. Median household income: $159,226 (state: $68,811), Poverty rate: 5.5% (state: 10.9%), Median home value: $694,900 (state: $313,600). Median household income: $71,111 (state: $53,089), Poverty rate: 3.6% (state: 13.8%), Median home value: $364,600 (state: $192,300). Building on this momentum, Duke Energy Corporation and the state's rural electric . The No. It also has a trio of 18-hole golf courses. That helps explain its inclusion on the list of small towns with high concentrations of millionaires. 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). The surrounding area is home to a number of tech companies, including Intel and Tektronix and textile companies like Columbia Sportswear and Nike. The population of Horace has grown rapidly over the past several decades, from 276 residents in 1970 to 2,660 today. The typical area home is worth about $645,000, nearly double the value of the typical New Jersey home. West Palm Beach, Florida. With a median household income of $156,205, Duvall is the wealthiest small city or town in the state. Elko's fortunes rise and fall with the price of gold, so one would hope that its millionaire population is properly diversified. The typical home in Weddington is worth $443,600, the highest median home value of any small city or town in North Carolina and more than twice the $165,900 state median. Gardnerville Ranchos is a favorite hiding place for millionaires because of its proximity to Lake Tahoe, which has long been a getaway for the rich and famous. Overall, Tulsa in 1921 was considered a modern, vibrant city. Great Falls is the richest town in Virginia and one of the richest in the entire country. Median Home Value: $288,200. When you purchase through links on our site, we may earn an affiliate commission. The report based its . 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: $114,801 (state: $78,084), Poverty rate: 4.2% (state: 9.9%), Median home value: $629,800 (state: $587,700). Washington, D.C . This city in the oil-rich Bakken Formation soon found itself home to fracking millionaires. Roughly 35 miles south of the state capital of Albany, the area abuts the banks of you guessed it the Hudson River. Median household income: $93,194 (state: $52,559), Poverty rate: 2.4% (state: 13.7%), Median home value: $331,900 (state: $219,600). Bridgeport, just south of Morgantown and West Virginia University, has the highest four-year college attainment rate of any town in the state, at 50.7%. 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. Take Bloomberg's just-released 2020 list of the country's 100 richest places, which ranks towns by average household income based on U.S. Census data. 5,104) over $200,000: 2. As of 2020, Jim Walton's net worth is $44.6 billion, placing him at 11th on this list of the richest people in America. Median household income: $117,300 (state: $59,209), Poverty rate: 3.5% (state: 11.9%), Median home value: $373,200 (state: $173,600). With nearly a $12 million annual salary, Walters was one of the highest-paid news anchors . Published 11 January 23. stocks As residents like to point out, few towns have a groomed ski area right in their downtown that is accessible to all. But the town's signature draws are antiques and architecture. 12. Microsoft co-founder Paul Allens estate in Atherton, CA, recently sold for a hefty $35.25 million. Five-star skiing at the Deer Valley and Sundance ski resorts is roughly a half-hour away. Indeed, it's one of the more expensive cities in the U.S. Chalk it up to the remote location of Alaska's capital, which is tucked away in the southeast corner of the state hard against the Canadian border. : 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. Mountain biking, hiking and fly fishing are just a few of the allures for the millionaire who likes the great outdoors. Published 23 January 23. Hidden Valley is a private residential community on the eastern edge of Indiana, just across the Ohio border from Cincinnati. Like all Floridians, Key West's millionaires save a bundle on taxes. The wealthiest place in the state, New Albany has a median household income of $203,194, nearly four times the income the typical Ohio household earns annually. (It's an in-state draw for all the millionaires from the Stamford area, too. That makes for easy access to the White Mountain National Forest about 30 miles to the north. 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. But this comes at a cost. Median household income: $156,205 (state: $70,116), Poverty rate: 2.1% (state: 11.5%), Median home value: $452,200 (state: $311,700). While this is the record at the beginning of 2020, his salary will surely increase by the end of this year. 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? Accessibility to a city center is typically a key characteristic of the cities on the list. Oxnard-Thousand Oaks-Ventura, California. "The homes in Atherton are spectacular," Swann told CNBC Make It. Feb 25, 2020, 3:05pm Updated on Feb 25, 2020. Spring Creek is a small suburb of approximately 14,000 residents in Elko County in northeast Nevada. Given the school's very highly selective . One of the main reasons for this is likely a high level of education. Microsoft co-founder Paul Allen's estate sold for over $35 million in 2020. 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. For year-round activities, the Heber Valley features five 18-hole championship golf courses, three state parks and a historic tourism railroad. The Phoenix suburb has a median home value of just over $1.5 million -- by far the highest of any small city or town in the state. Glencoe, IL. Data on household incomes and home values come from the U.S. Census Bureau. Dickinson's number and percentage of millionaire households declined year-over-year. Nevin Rudloff October 8, 2020 . Hard work is embedded in American culture. 20. 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. 1 Bethany ($121,149) This town is the richest in the entire state of Oregon and it even has a larger population of 20,646. Below are the 11 Chicago area towns that made the list with their rankings. Around 276,400 millionaires, 623 centimillionaires and 62 billionaires live in the San Francisco Bay area, which includes Silicon Valley. The typical household in Avondale Estates earns $108,299 a year, nearly twice the state median income of $55,679 and far more than the national figure of $60,293. At the same time, Hudson is chockablock with architectural gems. Glenwood Springs has collected many accolades over the years. Examples of investable assets include cash, stocks, bonds and funds, among a bunch of other types of investments and financial products. Bethany is the most affluent neighborhood in Oregon. Sign up here, Median household income: $203,194 (state: $54,533), Poverty rate: 2.5% (state: 14.5%), Median home value: $494,600 (state: $140,000). Thanks to its location on the Yampa river, Steamboat Springs is perfect for fishing, rafting, tubing and kayaking. Today it has some of the most expensive homes in North Carolina. 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. Median household income: $108,299 (state: $55,679), Median home value: $349,500 (state: $166,800). 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. Travilah is a wealthy suburb situated some 15 miles up the Potomac River from downtown Washington D.C. With a median household income of $235,669 a year, Travilah is the wealthiest place with a population between 1,000 and 25,000 in both Maryland and the United States. In fact, according to the Organization for Economic Co-operation and Development, the U.S. ranks 10th in the number of hours worked per country (Mexico, C In Tega Cay, less than 1% of residents live below the poverty line. With a population of around 9000, Glencoe is one of the most popular (and exclusive) suburbs of Chicago. Number of individuals with a net worth of $5 million or more: 36,515. In Gateway, Alaska, most households earn more than $100,000 per year, compared to the statewide median income of $76,715. 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. Many of those jobs in and around Fairway are high paying, as most households in the area earn over $100,000 a year, and more than one in five households earn $200,000 or more. If there's a silver lining, it's that North Dakota is one of the nation's more tax-friendly states (opens in new tab). These include financial companies Citi and Wells Fargo as well as the biomedical companies Avera Health and Sanford Health -- each of which employs thousands of people. The area's population grew by 34.5% from 2013 to 2018, compared to the U.S. population growth of 3.6%. The Evergreen State makes the cut because it doesn't have an income tax. The typical home in Montana City is worth $331,900, the most of any city with a population between 1,000 and 25,000 in Montana and far more than the $219,600 state median. Large concentrations of high-net-worth households are found in surprising locales across the U.S. 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.