A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. Warren Buffett Stocks Ranked: The Berkshire Hathaway Portfolio. "Oak Harbor is usually regarded as the poorer but more developed stepsister when compared to other Whidbey municipalities," notes the Whidbey News-Times. 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. It has long been a retreat for the well-to-do of the Mid-Atlantic seeking antique shops and solitude. This abandoned high school was converted into a 31-unit apartment building. Of all adults in the area, 38% have a bachelor's degree or higher, compared to 33.3% of adults statewide. 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: $106,285 (state: $54,325), Poverty rate: 3.7% (state: 14.1%), Median home value: $196,800 (state: $135,400). The typical Travilah home is worth $1.1 million, more than three times the $305,500 state median home value and more than five times the $204,900 national figure. 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 Tiny Elko, Nevada, owes its high concentration of millionaires to its status as the capital of Nevada's gold mining industry. 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. Fly fishing, hiking and whitewater rafting draw folks to town in the summer months. Burlington, the largest city in the state, sits less than 10 miles west of Essex Junction. Laconia, New Hampshire. Median household income: $213,801 (state: $79,363), Poverty rate: 3.9% (state: 10.4%), Median home value: $644,900 (state: $327,900). Advertisement - Continue Reading Below. 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. Occasionally however, several cities of similar status and their suburbs make up an . One of the main reasons for this is likely a high level of education. Martha's Vineyard has 17,000 or so year-round residents, but the population can swell to 200,000 during peak summer months. Oak Hill is a small city of approximately 4,600 residents located about 7 miles south of downtown Nashville. "The homes in Atherton are spectacular," Swann told CNBC Make It. No need to worry about health care, either. Known for high-income levels and a low unemployment rate, Luxembourg is the richest country in the world. The downside? Edgeworth is a small borough of approximately 1,600 residents located some 12 miles up the Ohio River from downtown Pittsburgh. The typical household earns $127,351 a year, more than double the $59,393 the typical Oregon household earns. And don't forget the incomparable sunsets. You might think Palm Beach would easily . In Topsham, 44.9% of adults have a bachelor's degree, one of the larger shares of any small city or town in Maine and far more than the state bachelor's degree attainment rate of 30.9%. It became the first and only neighborhood in America to top the half-million-dollar mark. Median household income: $97,143 (state: $57,598), Median home value: $225,400 (state: $242,400). . The Sunshine State is well known for its absence of a state income tax, which helps make it one of Kiplinger's 10 most tax-friendly states (opens in new tab). The typical home in Hampton is worth $358,300, far more than both the state median home value of $252,800 and the $204,900 national figure. Located in Washington County, Arkansas, the small town of Goshen is considered to be the wealthiest in the state. 2020 At 9:44 pm. Hard work is embedded in American culture. The typical area home is worth about $645,000, nearly double the value of the typical New Jersey home. Here are the 10 leading cities for the wealthy for 2019. But high concentrations of millionaires can be found in some far-flung places too. It also can get a bit crowded. It's less than an hour away from Annapolis, the state capital, while Washington, D.C., and Baltimore can be reached by car in about 90 minutes (traffic willing). Rank City Income; 1. Top 5 fastest-growing U.S. cities for millionaires. If you need access to specialists not available at Northfield Hospital & Clinics, the Mayo Clinic is about 60 miles away, in Rochester. The high incomes in Glen Ridge are evident by real estate values. By: News 12 Staff. One characteristic these towns have in common is a high level of education. The Mount Washington weather station, Median household income: $108,299 (state: $55,679), Median home value: $349,500 (state: $166,800). South Carolina has one of the higher poverty rates among states, at 16%. The typical actual cost that students . The Boston suburb of Winchester has a median household income of nearly $160,000 a year -- more than double the statewide median of $77,378, which itself is one of the highest among states. In Tega Cay, less than 1% of residents live below the poverty line. Boating, fishing, snorkeling, scuba diving and lazing on the beach are just some of Key West's draws. 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. High-end restaurants, plush lodges and spas are just some of the ways that millionaires can pamper themselves. 27 / 52. We've rounded up the wealthiest citizens from 31 rich countries, including America, the UK, Canada, and Australia. According to Niche, the national percentage is 20%. 9. Nevin Rudloff October 8, 2020 . As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange and hosted a weekly video segment on equities. Most homes in Belvedere are worth more than $2 million. 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. America's 50 richest towns: Silicon Valley community leads the list for the fourth year in a row with average household income of $525,000. The high incomes in the community are due in part to the presence of major companies. A far higher than average share of workers in Buckner work as health diagnosing and treating practitioners, which are generally high paying jobs. Its richest municipality, Dalton Gardens, has a median household income of just over $71,000, which is lower than that of any other municipality on this list. Kip ETF 20: The Best Cheap ETFs You Can Buy. Combined, the median household income is just over $171,000. 30.0. With only 3.53% of residents out of work, and the average household bringing in $79,133 a year, Utah is quite the rich place. Every one of the top 20 towns have households that bring in at least $300,000 a year. Mississippi: Sherwood-Audubon Area, Jackson. Inverness is a suburb located some 33 miles northwest of downtown Chicago in Cook County. 6. As a bonus, gun buyers aren't reliant on hit-and-miss sales or once-a-year clearance events, to save money. "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. Published 24 January 23. recession 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. 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. The boom times looked to be rolling again in North Dakota until COVID-19 gutted oil demand. By Kyle Woodley Individuals with greater educational attainment are more likely to have high-paying jobs. But the state has a 4.95% flat income tax system, property taxes are low and sales taxes are average. 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. View Slideshow. In Gateway, Alaska, most households earn more than $100,000 per year, compared to the statewide median income of $76,715. It's a small area with a small population but a large percentage of highly educated and highly trained engineers and scientists. Median household income: $75,441 (state: $62,268), Poverty rate: 11% (state: 11.1%), Median home value: $217,400 (state: $213,300). Dallas. 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. 10 Ridgewood, New Jersey . 20. Many residents likely commute to high-paying jobs in nearby Birmingham. West Virginia has the lowest bachelor's degree attainment rate of any state, at 20.3%. The small resort city about 160 miles west of Denver is loaded with fun stuff to do and not just in winter, when skiing is the main attraction in the Colorado Rockies. This unincorporated town in Essex County was founded by the inventor of the modern roller shade in the 1870s. 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. Median household income: $123,564 (state: $51,015), Median home value: $316,500 (state: $154,800). 4); and Los Altos Hills, California (No. By raw numbers, most millionaires in America can be found in and around big cities such as New York, Los Angeles and Chicago just as you would expect. 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. The typical home in Rock Springs is worth $217,400, slightly more than the $213,300 state median home value. Bloomberg released its annual list of the richest town . The Hudson, New York, micro area has emerged as an upstate hidey-hole for the well-heeled. 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. Latest checked 2011 [1] The Church of Jesus Christ of Latter-day Saints. 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. Phoenix Marketing International (opens in new tab), a firm that tracks the affluent market, annually ranks 933 urban areas, large and small, based on the percentage of millionaire households in each location. Median household income: $159,167 (state: $50,972), Poverty rate: 0.8% (state: 16.1%), Median home value: $649,000 (state: $158,600). Published 23 January 23. This city is in proximity to Los Angeles. And, hang in there until you're 100 and your income taxes are waived altogether. 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. It also helps that New Hampshire is a relatively tax-friendly state (opens in new tab). (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. Grant Suneson, Evan Comen and Samuel Stebbins. In some cases, these locations benefit from being popular recreational areas or havens for wealthy retirees. Dickinson's number and percentage of millionaire households declined year-over-year. With nearly a $12 million annual salary, Walters was one of the highest-paid news anchors . Some 22.6% of households earn $200,000 or more, more than five times the comparable 4.4% of households throughout Wisconsin. Hefty income taxes and high property taxes make the Empire State one of Kiplinger's 10 least tax-friendly states. Genesee is a small Census designated place located less than 20 miles west of Denver. The typical home in Fairway is worth $352,000. More than 10% of Alaska residents live in poverty, yet the poverty rate in Gateway is just 4.2%. 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. 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. Glenwood Springs has collected many accolades over the years. 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. Each has an average household income of over $400,000. As is often the case in the small cities and towns on this list, Winchester residents tend to be well educated. The U.S. poverty rate is 14.1%. Glencoe, IL. Hot springs, rafting, kayaking, fishing, hiking, mountain biking and golf, among many other activities, make Glenwood Springs a year-round destination. Clarkson Valley is a small Missouri city of less than 3,000 people. Microsoft co-founder Paul Allen's estate sold for over $35 million in 2020. Here are the 20 richest counties in the U.S. and the average household incomes of each, according to DailyMail.com's report. Tech billionaires, like former Google CEO Eric Schmidt, Facebook COO Sheryl Sandberg and late Microsoft co-founder Paul Allen, have called the richest town in America home where the average household income is more than $500,000 a year. Estimates of millionaire households provided by Phoenix Marketing International. Destrehan is a Census-designated place with 11,000 residents, located about 20 miles west of downtown New Orleans. To compiler their 2020 list of the 50 richest places, Bloomberg "evaluated . Major employers in the area include Amazon, Boeing, and Microsoft. Happily for residents, Washington is among the most friendly states for taxes (opens in new tab). We added hundreds of new lists - see our top 101 city lists. Hampton is a small seaside Census-designated place of approximately 9,000 residents in Rockingham County. Bloomfield Hills is the wealthiest place in Michigan. The median household income is $94,027, and the median home value is $503,000. 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. 24/7 Wall Street is a USA TODAY content partner offering financial news and commentary. What started as a small farming community in the 1870s now has some the most expensive homes in North Dakota. But for more modest incomes, the impact is far milder, and property taxes are low (opens in new tab). Median household income: $117,300 (state: $59,209), Poverty rate: 3.5% (state: 11.9%), Median home value: $373,200 (state: $173,600). This city in the oil-rich Bakken Formation soon found itself home to fracking millionaires. 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. High-income areas tend to have well-educated populations -- and Duvall is no exception. 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. #2. The rules that keep American housing expensive. ; The 15 Richest Countries in the World Too cold outdoors? With an average household income of more than $525,000, it became the first and so far only community to . As we shall see, another area near Laconia makes this list of small towns with a high percentage of millionaires. Winnetka - $311,902. Adjusted median household income: $103,100. 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. Revealed: Countries With The Fastest Internet Speeds, 2020, Why Acting Like An Entrepreneur May Be Killing Your Business, Best Universities For Doctor of Business Administration (DBA), 2022, Worlds Best Hospitality & Hotel Management Schools, 2022, Antigua and Barbuda Citizenship by Investment Program (CIP), St. Lucia CIP: Saint Lucia Citizenship By Investment Program, Vanuatu CIP: Vanuatu Citizenship By Investment Program, Montenegro Citizenship By Investment Program (CIP), Moldova CIP: Moldova Citizenship By Investment Program, Turkey CIP: Turkey Citizenship By Investment Program, These are the worlds trendiest countries, 2023, Living in the Countryside? Jenks, Oklahoma, is located just south of Tulsa, so residents have access to the many high-paying jobs in the bigger city, in sectors like health care and aerospace engineering. 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. Then oil prices collapsed in 2014 and some folks even started pulling up stakes. Watch on. 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. There's been a lot of panic surrounding the mass exodus of wealthy residents from New . More than 9% of Williston's households are considered to have millionaire status, but the absolute number of millionaire households actually declined from 2019. All four have average incomes upwards of $400,000. When you purchase through links on our site, we may earn an affiliate commission. Tourism is a key contributor to the local economy, thanks to the nearby New Hampshire International Speedway, as is the state's increasing emergence as a center of high-tech manufacturing. [2] Sree Venkateswara Swamy Temple. He remains on the Walmart board of directors, and is also the CEO of his own company, Arvest Bank. Pinecrest, Florida, is located a few miles south of Miami, just inland from Biscayne Bay. Looking to buy a car? So it should come as no surprise that Breckenridge would make the cut. 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%. Run, swim or take exercise classes at the YMCA Community Center. 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. By Jeff Reeves Centerton is situated next to Bentonville, the home to Walmart's corporate offices and its roughly 17,000 employees. 10. 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. Median household income: $235,669 (state: $81,868), Poverty rate: 1.6% (state: 9.4%), Median home value: $1,090,400 (state: $305,500). In most of these cities, people have it made, financially. 11 March 2007: The tables provide GDP figures for cities and their surrounding urban areas in 2020. The rugged mountain terrain is ideal for hiking, mountain biking, camping, you name it. Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016. The 25 Best Low-Fee Mutual Funds You Can Buy. Mountain biking, hiking and fly fishing are just a few of the allures for the millionaire who likes the great outdoors. Not only is there no state income tax, but the government actually pays residents an annual stipend. The Hudson Historic District is listed with the National Register of Historic Places. Genesee has a median annual household income of nearly $160,000, more than double the state median. More importantly, it makes Laconia a relatively easy drive from points farther south where millionaires maintain their primary residences. By Louis Navellier For example, your friend asks you, "how much money do you have . Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts. 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. Maryland has the second most millionaires per capita of any state in the U.S., according to Phoenix Marketing International, but it's unfriendly when it comes to taxes (opens in new tab). Perhaps best known is Hanover, N.H., which forms the northern tip of this urban agglomeration. Jackson is a town in Wyoming's famed Jackson Hole valley. Find the full list of America's 100 Richest Places on Bloomberg. Millionaires in America 2020: All 50 States Ranked. 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. Around 276,400 millionaires, 623 centimillionaires and 62 billionaires live in the San Francisco Bay area, which includes Silicon Valley. "Sprawling residences set amidst landscaped gardens and a beautiful backdrop.". Concord also is a major distribution, industrial and transportation hub. Published 21 December 22. small cap stocks In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics and more. Lexington has become one of the wealthiest cities in America, with the typical home costing $1,361,431 in 2022, according to Zillow. The sun-kissed island and nearby neighbors offer a tropical paradise in the good ol' U.S. of A. The self-made hyper-rich say these things are the key to getting there. The poverty rate in Dalton Gardens is 3.6%, a fraction of Idaho's 13.8% poverty rate. With an average household income of more than $525,000, it became the first and so far only community to top the half-million dollar mark since Bloomberg started compiling the index in 2017. 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. The typical Weddington household earns $132,587 a year, more than twice the median household income of $60,886 in Charlotte and the state median of $52,413. 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. All 30 Dow Stocks Ranked: The Pros Weigh In. A relatively low-income state, New Mexico is one of only seven states nationwide where most households earn less than $50,000 a year. Brandon is a small city in eastern South Dakota, just outside of Sioux Falls -- a city home to several major companies that offer high-paying employment opportunities. By the end of the last decade, fortunes were once again looking up, but that came to a halt with the coronavirus. The aforementioned Park City, which hosts Robert Redford's Sundance Film Festival, also boasts several world-class ski resorts. Percentage of global population: 1.2%. Places like Dickinson, located in the oil-rich Bakken Formation, were mining millionaires. The typical Hampton household earns $92,688 a year, the most of any small town in New Hampshire and far more than the $74,057 state median household income. Median household income: $176,528 (state: $68,411), Poverty rate: 0.3% (state: 10.1%), Median home value: $619,000 (state: $211,800). This is followed by Los Angeles with 52 billionaires, and San Francisco and Chicago, who each have 44 billionaires. Median household income: $170,952 (state: $53,560), Poverty rate: 1.3% (state: 14.2%), Median home value: $629,200 (state: $151,600). 5). Median household income: $222,115 (state: $65,323), Poverty rate: 3.3% (state: 14.6%), Median home value: $954,400 (state: $302,200). The typical home is worth $625,100, more than three times both the state median home value of $187,200 and the national value of $204,900. In winter, it's all about skiing. Built with one-acre plot minimums for most of its history, the Inverness housing stock is among the most expensive in the country. Most homes in Pinecrest are worth over $900,000, while most Florida homes are worth less than $200,000. Atherton, California tops the list for the fourth . Click to skip ahead and jump to the 10 richest cities in the United States. Complete list click for interactive table. For more sedentary folks, Breckenridge hosts the National Repertory Orchestra every summer and the Breckenridge Film Festival every autumn. Based on median household income, Mississippi is the poorest state in the country. Atherton. In Paradise Valley, just 5% of residents live in poverty. 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). The Beehive State ranks well in every category we measured. 4. Hidden Valley is a private residential community on the eastern edge of Indiana, just across the Ohio border from Cincinnati. Most households in the town earn more than $150,000 annually, and more than one-third earn over $200,000. Since then, the 2020 median household income has been reported as $67,521, a 2.9 percent decrease since 2019, . After the analysis was over, we crowned Cary as the richest city in America for 2022. Corporate giants shouldn't be applauded for helping to solve crises their own policies have helped cause, writes Linsey McGoey. 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 .
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