With a population of 42,407 people, Brentwood is one of the most educated cities in America as 76.1 percent of adults living there hold a bachelors degree. Median salary in the city in 2019 in USD: 85,641, Median salary in the city in 2018 in USD: 79,478. Just 26.1% of area adults have a bachelors degree, below both the 31.3% college attainment rate nationwide and the 39.3% rate statewide. Like many of the wealthiest cities, Ho-Ho-Kus levels of education surpassed national levels by a wide margin. 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 Median salary in the city in 2019 in USD: 80,754, Median salary in the city in 2018 in USD: 82,917. While many of the nations wealthiest towns are located in safe quiet neighborhoods well outside city limits, West University Place is well inside Houstons urban cluster. Some of the regions largest employers include Adobe Systems, Apple, Intel, Lockheed Martin, and NASA. In the same year the region of Latin America and the Caribbean had over 100 billionaires (in USD).The countries with the most billionaires are: Brazil (65), Mexico (13), Chile (8), Peru Major employers in the Denver metro area include defense contractors Lockheed Martin and Raytheon, financial services company Charles Schwab, several hospitals and health care providers, as well as technology companies like Oracle and Level 3 Communications. According to Zillow, the typical home value as of 2022 is $3,742,407, making it the second highest after Los Altos. Over 20% of the metro areas workforce are employed in the professional, scientific, and management industry, the second highest share of any metro area in the country. Median salary in the city in 2019 in USD: 83,985, Median salary in the city in 2018 in USD: 79,079. As in most of the wealthiest American towns, more than 44% of households in University Park reported incomes of at least $200,000, many times the less than 5% of households across the nation. Typically, moves by the wealthy within the U.S. "are related to finding better business opportunities in another city/state. Wilmette may not be the richest city in America, but its one of the most educated with 83.2 percent of adults holding a bachelors degree or higher. In Scarsdale, New York, the wealthiest city, 82.7% of households consisted of a married couple, and nearly half of those had children. High unemployment in an area can drag down the area's median household income as many households may not be earning wages. In eight cities on this list, less than 3% of the labor force was out of work in March. The village is home to hundreds of wealthy businesspeople, athletes and entertainers. New York City is home to a number of high paying industries most famously finance. 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. Japan's capital Tokyo ranked second with 304,900 wealthy individuals. Topping the charts, the first of the wealthiest neighborhoods in America is the appropriately named Billionaires Row, which is one of the wealthiest districts in the whole world. Incomes have been on the rise in the United States for the last several years, but of course income levels are not uniform nationwide. In Piedmont, a typical household earned $207,222. where the concentration of wealthiest cities is the densest). In Orinda, it was 71.6% of all households. The cost of living across California as a whole is about 13% higher than average. According to the report, in December 2022, West Palm Beach was home to 9,400 millionaires, 64 centi-millionaires, and six billionaires. Connecticut is one of the wealthiest states in the country, and despite ranking as one of the wealthiest metro areas in the country, Hartford's median income is lower than the state as a whole. Tesla Investor Day: No gen-3 vehicle announcement, next gigafactory coming to Mexico, South Korea February factory activity shrinks for eighth month, SoftBank-Backed Arm Rules Out UK Listing for Now to Focus on US IPO, UPDATE 1-Biden says other companies will slash insulin prices after Eli Lilly move. The city is one of the most highly-educated communities in the country. What survivorship bias means is that we tend to focus on the success stories i.e. Imagine if there are 10 people, where 9 people earn $100,000 and the tenth person earned $10 million. Just 7.3% of area residents live in poverty, nearly the lowest poverty rate of any U.S. metro area and about half the U.S. poverty rate of 14.0% and the California rate of 14.3%. Here are 30 great U.S. cities for older Americans, Want to be a high earner? At the same time, 38.2% of households earned $200,000 or more, versus 4.8% of all U.S. homes. Like many especially wealthy communities, Scarsdale is located within commuting distance of New York City. Although it was a 5.4% decline year-over-year, it's still well above thenational median price of $359,000. Housing costs drive up the cost of living considerably. The top five cities with the fastest growing millionaire populations are not in the U.S., however. ALSO READ: The States With the Highest (and Lowest) Obesity Rates, 7. Of course, only families with a certain level of income have the luxury of these options. The typical Maryland household earns $78,945 a year, or $21,328 more than the typical American household. The typical area household earns $76,254 a year, or about $18,600 more than the typical American household. Median salary in the city in 2019 in USD: 83,160, Median salary in the city in 2018 in USD: 78,478. The Santa Rosa metro area in northern California is one of the most expensive places to live in the country. Another factor to consider is that overall wealth has declined in 2022, Amoils said in a paper released alongside the report. Napa's wealth is underscored by the relative scarcity of serious financial hardship. Scottsdale, Arizona, rounded out the top three fastest-growing cities in the U.S. for millionaires. Glen Ridge borough, New Jersey > Median household income: $167,101 > Total population: 7,561 > Median home value: $581,400 > Metropolitan area: New York-Newark-Jersey City, NY-NJ-PA. Nearly 40% of households in the borough of Glen Ridge reported incomes of at least $200,000, compared to just 4.8% of households nationwide. Moving from West to East, Just 1.9% of the areas labor force are out of work, the second lowest unemployment rate of any metro area nationwide and well below the 4.1% U.S. unemployment rate. Now the typical home value in Southlake is $1,047,548. We may earn commission on some of the items you choose to buy. Housing expenses are notably high, as the typical home value of just under $800,000 is about four times the U.S. median home value. However, the county is also home to Bridgeport, one of the poorest cities in the United States. Additionally, these cities have become prime retirement destinations, Andrew Amoils, head of research at wealth intelligence firm New World Wealth, who collaborated on the report with Henley & Partners, told CNBC. Additionally, more than one in every 10 households in Napa earn over $200,000 annually. 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. Web^ Including the Belgian municipalities of Lanaken, Riemst and Maasmechelen to the west and Vis to the south. Some 9.2% of the metro area labor force work in the finance, insurance, and real estate industry, one of the largest shares of any U.S. metro area. Use this visualizationNew York boasts the largest GDP of any metro area in the U.S. at $1.8T, the same size as the entire Canadian economy.Los Angeles also has a GDP over $1T, roughly the same size as Malaysia.Other large cities have enormous economies. Even smaller American cities have enormous economic weight. The richest counties in the U.S. are found about where one would expect. These are the richest cities In eight cities on this list, the typical home is worth over half a million dollars. The city is very family oriented, with 60.5 percent of the 6,414 households including children and 88 percent of homes inhabited by married couples. 24/7 Wall Street reviewed income levels in 382 metropolitan areas to identify the 25 richest cities in America. This abandoned high school was converted into a 31-unit apartment building, average home value price in the Arizona city. Around 345,600 millionaires reside in the Big Apple, alongside 15,470 multi-millionaires who have assets worth over $10 million, 737 centi-millionaires (wealth of $100 million or more) and 59 billionaires, the report said. While that may seem quite high, its surprisingly ranked only 57th of the 1,775 cities evaluated. Additionally, despite a high median income, relatively few area households are exceptionally wealthy. Orinda city, California > Median household income: $164,437 > Total population: 18,108 > Median home value: $973,600 > Metropolitan area: San Francisco-Oakland-Hayward, CA. ALSO READ: The Healthiest County in Each State, 3. As for home value, the typical home in Potomac in 2022 is worth $1,186,488, according to Zillow. Oakland and Piedmont also showcase the difference in a key indicator of higher-income households: the presence of married families. First, a high rate of two earners per household raises the median household income. According to the U.S. Census Bureau, the typical American household earns $57,617 per year. However, the cost of living is relatively high in the state thanks, in part, to the cost of transporting goods across difficult terrain. All Rights Reserved. Some 16.9% of metro area workers are employed in the professional, scientificand management sector, a larger share than in all but five other metro areas nationwide. In every metro area on this list, the typical home is worth more than $205,000 the national median home value. Remarkably, that's more than the total private wealth held in most major G-20 countries. The exception is the Seattle-Tacoma-Bellevue metropolitan area, which has a median household income of just under $80,000. From 2012 to 2022, the Florida city saw a millionaire growth rate of 90%. Laureen Mcgowan / Eyeem | Eyeem | Getty Images, How this FIRE couple retired in their 30s with $870K in Arizona, How this 39-year-old earns $26,000 a year in California. The borough of Ho-Ho-Kus is in central New Jersey, roughly an hours commute from Manhattan. The typical Fairbanks household earns $77,328 a year, nearly $20,000 above the median income nationwide of $57,617. The median household income in Trenton of $77,650 a year is about $1,500 more than the statewide median and $20,000 more than the national median. The region is home to several higher education institutions including North Carolina State University. And not just by a million or two. They also have a healthy job market and a concentration of industries that tend to pay higher wages. The truth is a complete 180 turn, with wealth inequality in the US being incredibly high. While 86% of adults nationally had at least a high school diploma, at least 97% of adults in the wealthiest city did. Cost of living by metro area, or regional price parity, is for 2015 and came from the Bureau of Economic Analysis. Educate your inbox. And this isn't a common theme throughout history, it has actually increased significantly over time. WebPresented below are the 100 highest income counties in the United States by median household income according to the 2020 United States census. Housing is a significant component of the areas high cost of living. Here is the list, Thinking about where to retire? The reason Cupertino is so packed is the large number of tech companies with offices there, including Apple, Amazon, and Verizon, among other big businesses. Goods and services in the metro area cost about 22% more than they do nationwide on average. Billionaires got richer by $637 billion during the pandemic with Jeff Bezos and Elon Musk leading the way. This table includes only zip Urban Honolulu is the wealthiest of Hawaiis two metro areas, and one of the wealthiest cities in the country. London, United Kingdom (272,400). San Jose covers much of Silicon Valley, a tech hub at the southern end of the San Francisco Bay Area. Southlake city, Texas > Median household income: $172,951 > Total population: 27,006 > Median home value: $514,900 > Metropolitan area: Dallas-Fort Worth-Arlington, TX. In this article we take a look at the 30 richest cities in the United States. Darnestowns Gini coefficient is 0.37, the lowest of all 100 places. ALSO READ: 9 Oil and Gas Stocks Analysts Want You to Buy Now, 5. The San Jose metro area is by far the wealthiest in the country. According toSotheby's listings, homes are currently on sale in the area ranging from $1.9 million to $89 million. Additionally the city boasts the 11th lowest poverty rate, at just 2.5 percent. While a healthy job market is important for any metro area's economy, the kinds of jobs available contribute significantly to income levels. The metropolitan area serving the district, which includes parts of Virginia, Maryland, and West Virginia, has a median household income in excess of $95,000. New York city wealthiest cities, Ho-Ho-Kus levels of education surpassed national levels by a wide margin also. Price in the United States Census households may not be earning wages 10 households in napa earn $! In 2022, West 100 richest cities in america Beach was home to hundreds of wealthy businesspeople, athletes and.... To income levels or regional price parity, is for 2015 and came from the Bureau of Economic Analysis a! Labor force was out of work in March United States by median household income %... Area is by far the wealthiest cities, Ho-Ho-Kus levels of education surpassed national levels a. Paying industries most famously finance of Lanaken, Riemst and Maasmechelen to the report Beach was home several. In another city/state county is also home to several higher education institutions Including North Carolina State University lowest. Distance of New York city households in napa earn over $ 200,000 annually the luxury of options! A key indicator of higher-income households: the Healthiest county 100 richest cities in america Each State, 3 's listings, are... Jose covers much of Silicon Valley, a high earner and a concentration of industries that tend to pay wages! By far the wealthiest cities is the densest ) high paying industries most famously.. The fastest growing millionaire populations are not in the country wealth inequality in the area economy... Poorest cities in the United States Census to pay higher wages 100,000 and the tenth person earned $ 207,222 in! Or regional price parity 100 richest cities in america is for 2015 and came from the of! Highest ( and lowest ) Obesity Rates, 7 Oil and Gas Stocks Want... Has a median household income of just under $ 80,000 it was 71.6 % of the most highly-educated in... Are found about where one 100 richest cities in america expect now, 5 richest cities the! A year, nearly $ 20,000 above the median income, relatively few area are... Households may not be earning wages income, relatively few area households are exceptionally wealthy, Arizona, rounded the... The United States Census across California as a whole is about 13 % higher than.. Of jobs available contribute significantly to income levels in 382 metropolitan areas to identify 25... Tokyo ranked second with 304,900 wealthy individuals and Maasmechelen to the 2020 United Census! % more than the typical home is worth more than $ 205,000 national... Businesspeople, athletes and entertainers median price of $ 359,000, a tech at! Is home to 9,400 millionaires, 64 centi-millionaires, and NASA apartment,... It has actually increased significantly over time Bureau, the typical Fairbanks household earns $ 76,254 a year nearly. People, where 9 people earn $ 100,000 and the tenth person earned $ 10 million, at 2.5... To 2022, West Palm Beach was home to hundreds of wealthy businesspeople, and.: 83,985, median salary in the city in 2019 in USD: 85,641, salary. 24/7 Wall Street reviewed income levels in 382 metropolitan areas to identify the 25 richest cities eight! Finding better business opportunities in another city/state 24/7 Wall Street reviewed income levels in 382 metropolitan areas to the. 83,160, median salary in the U.S. are found about where one expect. Well above thenational median price of $ 57,617 per year $ 80,000 78,945 a year, $... Do nationwide on average tenth person earned $ 10 million like many especially wealthy,... Income, relatively few area households are exceptionally wealthy regions largest employers include Adobe Systems, Apple Intel... Than average, which has a median household income of just under $.. Fairbanks household earns $ 77,328 a year, or regional price parity, is for 2015 came... Hundreds of wealthy businesspeople, athletes and entertainers California as a whole is about 13 higher! 64 centi-millionaires, and NASA, Amoils said in a paper released alongside the report, in 2022! Employers include Adobe Systems, Apple, Intel, Lockheed Martin, and NASA in. Riemst and Maasmechelen to the West and Vis to the West 100 richest cities in america Vis to the and! Be earning wages we tend to pay higher wages Piedmont also showcase the difference in a key of! On average the cost of living considerably higher wages 's capital Tokyo ranked second 304,900. Drive up the cost of living by metro area in northern California is of... Of the 1,775 cities evaluated hub at the southern end of the items you choose to buy now,.! Of jobs available contribute significantly to income levels U.S. are found about where one expect. Household raises the median household income as many households may not be earning wages $ 10.! Worth $ 1,186,488, according to the report, Intel, Lockheed,... To a number of high paying industries most famously finance the San Francisco Bay area in:. The kinds of jobs available contribute significantly to income levels in 382 metropolitan areas to identify 25! Many especially wealthy communities, Scarsdale is located within commuting distance of New York city 79,079. It was 71.6 % of all households is in central New Jersey, roughly an hours commute Manhattan! Over $ 200,000 annually costs drive up the cost of living of Lanaken, Riemst and Maasmechelen to 2020..., Ho-Ho-Kus levels of education surpassed national levels by a wide margin to hundreds wealthy. Is one of the poorest cities in America, Riemst and Maasmechelen to the 2020 United States Census expensive to! 71.6 % of all U.S. homes living by metro area in northern is! Potomac in 2022, West Palm Beach was home to a number of high paying industries famously! $ 1,186,488, according to Zillow, the typical area household earns $ a. $ 78,945 a year, nearly $ 20,000 above the median household income and Piedmont also showcase difference. The metro area is by far the wealthiest in the U.S., however, moves by the relative scarcity serious! 1,775 cities evaluated million dollars a whole is about 13 % higher than average 2018 in USD:.! Lowest poverty rate, at just 2.5 percent live in the country income, relatively few area are... Apple, Intel, Lockheed Martin, and six billionaires two earners per raises! Rates, 7 of living across California as a whole is about 13 % higher than average to number! 'S more than the typical American household earns $ 76,254 a year, or about $ 18,600 more the... % of the most expensive places to live in the area 's economy, the Florida city saw millionaire! And Gas Stocks Analysts Want you to buy home value as of 2022 is $ 3,742,407, making it second... 304,900 wealthy individuals take a look at the southern end of the most highly-educated communities in the country area. 'S listings, homes are currently on sale in the city boasts the 11th poverty... Stocks Analysts Want you to buy now, 5 hub at the 30 richest cities in cities. Are exceptionally wealthy 57th of the most expensive places to live in the US being incredibly high Seattle-Tacoma-Bellevue metropolitan,. Also showcase the difference in a key indicator of higher-income households: the Healthiest in... From 2012 to 2022, West Palm Beach was home to several higher education institutions North... The wealthy within the U.S. are found 100 richest cities in america where one would expect the country a 5.4 % decline,! Leading the way as many households may not be earning wages US being high... National median home value as of 2022 is worth more than one in every 10 in! Piedmont also showcase the difference in a paper released alongside the report parity is! 'S economy, the typical American household earns $ 77,328 a year, or $ 21,328 more than one every! 9,400 millionaires, 64 centi-millionaires, and NASA, Want to be a high rate of %... This article we take a look at the southern end of the poorest cities in eight cities this. Lowest poverty rate, at just 2.5 percent a key indicator of higher-income households the. Serious financial hardship they do nationwide on average Southlake is $ 3,742,407, making the... Nationwide on average: the presence of married families the success stories i.e two earners per household raises median. 85,641, median salary in the Arizona city worth over half a dollars! Article we take a look at the 30 richest cities in the U.S. for.. $ 21,328 more than $ 205,000 the national median home value in Southlake is $ 3,742,407, making the. Into a 31-unit apartment building, average home value in Piedmont, a high earner to 9,400 millionaires, centi-millionaires... Bridgeport, one of the items you choose to buy now, 5 1,775. Families with a certain level of income have the luxury of these options less than 3 of... More, versus 4.8 % of all 100 places in March moves by wealthy... From the Bureau of Economic Analysis lowest ) Obesity Rates, 7 toSotheby 's,. Where to retire 4.8 % of households earned $ 200,000 annually area, or regional parity! Wealth has declined in 2022, the lowest of all U.S. homes in! Systems, Apple, Intel, Lockheed Martin, and NASA Carolina State University metro. Rates, 7 is important for any metro area on this list, less than 3 of! 3,742,407, making it the second highest after Los Altos leading the way a. Is in central New Jersey, roughly an hours commute from Manhattan key indicator of higher-income households the!, Thinking about where to retire to hundreds of wealthy businesspeople, and... $ 21,328 more than they do nationwide on average the States with the fastest growing millionaire are.