The index ranks the wealthiest communities in the US by average household income. (These are the most educated big cities in the country). Some notable Americans who have called the Essex County, New Jersey, town home include actress Anne Hathaway and fashion designer Rachel Zoe. Its located five miles north of Dallas. Our next stop, Fremont, California, probably won't come as a surprise to anyone who lives in the state. Now, the median home value in the once entirely agricultural Village of Indian Hill is just over $1.3 million, according to Zillow. One reason people are 'rich' in Fremont is the fact that salaries are so inflated because the cost of living is so high. A Division of NBC Universal, A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. 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. the cities with the most expensive homes. This Santa Clara County, California, town has maintained a rural character that evokes its agricultural past in spite of its recent infusion of Silicon Valley money. Opinions expressed by Forbes Contributors are their own. Population: 111,331Rank Last Year: 1 (Down 1)Median Income: $109,767 (13th best)Unemployment Rate: 3.6% (19th best)More on Centennial: Real Estate|Crime|Cost Of Living. Its oldest home, the Manor House, was built in 1797 by Peter Jay Munro, who was nephew of John Jay, the first chief justice of the U.S. Supreme Court. In these places, the typical household has an income that is three times, and occasionally even four times, that of the national median of $57,652. This might sound like a decent chunk of change, but when you think about how much it costs to live here, suddenly it might not seem like a lot. articles a month for anyone to read, even non-subscribers! 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. Do people work hard in this city? HomeSnacks is reader-supported. France has been crowned the trendiest country in the world for 2023, according to the CEOWORLD magazines annual ranking of Life away from the big cities can be magical. By clicking Sign up, you agree to receive marketing emails from Insider Population: 169,177Rank Last Year: 5 (Up 4)Median Income: $107,463 (18th best)Unemployment Rate: 3.3% (6th best)More on Cary: Real Estate|Crime|Cost Of Living. The 10 Biggest Fintech Companies In America, PODCAST: Why Cristiano Ronaldo Is The World's Highest-Earning Athlete, 2017 Grateful Grads Index: Top 200 Best-Loved Colleges, Full List: The World's Highest-Paid Actors And Actresses 2017, Meet The Richest Self-Made Women On Wall Street 2017, Forbes/Fridson Income Securities Investor, Machine Readable File: Transparency in Coverage. Doctors, lawyers, business owners and entrepreneurs. Los Altos Hills, California. We only included census place geographies that have populations of at least 25,000. Just about all households who live here earn well over $100,000 a year annually. This southern Westchester County, New York, town is just 15 miles from Midtown Manhattan, which means its residents have easy access to the city and all the trappings of wealthy small-town lifecharming residential architecture, a walkable town center, and great public schools. Highland Park TX (income: $365,025/ bailout: $4.5 million) The richest town in Texas, the median home price is $1.5 million. While big cities are often economic engines that produce considerable wealth, most of the richest places are the suburban areas that lie within the commuting orbit of major metropolises. Better-educated workers tend to make more money. They have to be doing something right in here. This Dallas suburb is home to Southern Methodist University, which was founded in 1915, and the George W. Bush Presidential Center. For the first time ever, Forbes reveals the richest person in each of Americas 50 largest cities. #8. According to a recent survey by Forbes.com, Atherton, a small town in the heart of silicon has been called the most expensive ZIP Code, 94027, in the nation, with a median home price of nearly $2.5 million in 2004 and has been attracting several Google employees who are taking advantage of hot company stock options. Average household income: $405,073. The recent five-year national median household income is 10% higher than the previous five-year period, 2012-2016, adjusted for inflation. Bronxville is 15 miles north of New York City, also in Westchester County. . Located 20 miles from Silicon Valley, the San Francisco suburb is home to the many tech titans of Google University Park is a suburb of Dallas. It's also the hometown of Claire Underwood, the fictional president of the United States in "House of Cards.". Microsoft co-founder Paul Allens estate in Atherton, CA, recently sold for a hefty $35.25 million. Yeah they are. Darien, CT (income: $352,839/ bailout: $10.7 million) A storied East Coast community, notable residents included Charles Lindberg, Vineyard Vines CEO and founder Ian Murray, and many actors, politicians, and CEOs. So lets take a look at the cities where you are more than likely to be well off, rather than not, starting with number 30: 30. There's a lot of old money here, too. The median home value in Cherry Hills Village is just shy of $2,612,468, according to Zillow. The national median household income reached $69,021, according to the U.S. Census Bureau December release of the 2021 American Community Survey five-year estimates. An 85-year Harvard study found the No. Should the American taxpayers from lower-income areas be subsidizing the lifestyles of the rich and famous? In order to focus on cities, there is a 1,000-household minimum to be included in the study. Families earn the 3rd highest incomes in the whole state. Photographer: David Paul Morris/Bloomberg via Getty Images, A mansion-style home in Atherton, California, the most expensive ZIP code in the state, Why Finland and Denmark are the happiest countries in the world, How this 39-year-old earns $26,000 a year in California. Well, good schools and plenty of amenities, of course. According to a recent study, if you earn about $95,000 a year, you're optimally happy. Many of the richest suburbs also have very expensive homes. Knowing this, Americans would be right to ask why Nancy Pelosis Heroes Act shelled out $3.8 million in coronavirus aid money to Atherton. Below youll find the table of the poorest city in every state. Just 17 miles south of San Francisco in Californias San Mateo County, Hillsborough is home to several significant mansions in American architectural history, including: Carolands, built by Harriet Pullman Carolan, the Pullman railway heiress; the Western White House, built by George Randolph Hearst, son of William Randolph Hearst, and designed by Julia Morgan, of Hearst Castle fame; and the Sidney Bazett Residence, designed by Frank Lloyd Wright and lived in by Joseph Eichler for a time. Cherry Hills Village, CO (income: $406,314/ bailout: $3.3 million) With a median home price of $2 million, the community is located 10 miles from Denver. We mean, specifically, which parts of the country. Population: 146,145Rank Last Year: 6 (No Change)Median Income: $129,497 (4th best)Unemployment Rate: 3.5% (16th best)More on Bellevue: Real Estate|Crime|Cost Of Living. U.S. Census 2016-2020 American Community Survey. To score the cities, we ranked each one from 1 to 306 where 1 is the "richest" for that category. 4); and Los Altos Hills, California (No. Here's the top 34 1. Some small towns and suburbs are home to high amounts of concentrated wealth. Harwood Court in Scarsdale, Westchester county, New York State, USA. Highland Park is an affluent suburb of Dallas, just four miles north of downtown. Winnetka, IL (income: $353,700/ bailout: $6.1 million) Located next to Glencoe, the village is home to many notable persons. #2. For this study, we considered the following categories: The census just updated their data at the end of they ear, so we can take a fresh look at it. #10. The Silicon Valley town, which is just eight minutes from Stanford University, isnt only renowned for its wealthy tech entrepreneurs, though; its known for its large, private lots and lavish homes, too. Google cofounder Sergey Brin and Google CEO Sundar Pichai both call it home. Some parts of this area are just off the charts out of touch with reality. Incomes have risen for the majority of households since the Great Recession, but as income inequality increased across the country, some of the richest places in the country have gotten even wealthier. "Sprawling residences set amidst landscaped gardens and a beautiful backdrop.". 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. The community has at least nine country clubs. 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. Located in Virginias Fairfax County, Great Falls is less than 20 miles outside of Washington, DC. Hillsborough is a notoriously hilly neighborhood that is only 17 miles from San Francisco. We're climbing higher and higher up the money tree, as we visit the very wealthy city of Centennial, Colorado. 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. The typical home value in Palm Beach is just shy of $1.7 million, according to Zillow. It's a different type of place from the rest of the state. Access your favorite topics in a personalized feed while you're on the go. #4. Keep reading to learn more about the top 20 richest towns in America. Where do you go if you want to see the richest people in the nation? The economy and markets are "under surveillance". 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. While that might seem high, for an entire city, it's really low. Median home values in the 50 richest cities begin at $498,900, about double the median nationwide of $244,900, and reach over $2,000,000 among. 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. 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. The HomeSnacks money train takes its next stop in Olathe, Kansas. After all, it has a stereotype as being a very snobby city. Courtesy of City of West University Place, 9 Beautiful Tables from the 2023 Orchid Dinner, Your Privacy Choices: Opt Out of Sale/Targeted Ads. The typical Fairbanks household earns $77,328 a year, nearly 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. Or, you could just see where people like this live and try and get on their good side. Rebecca R. Norris is a full-time freelance writer living in the DC metro area. [+] According to a recent survey by Forbes.com, Atherton, a small town in the heart of silicon has been called the most expensive ZIP Code, 94027, in the nation, with a median home price of nearly $2.5 million in 2004 and has been attracting several Google employees who are taking advantage of hot company stock options. Households here vary between two-income homes when both parents have great jobs, or households where there's one primary earner in the top tier of their industry. Every item on this page was chosen by a Veranda editor. Excellent tennis instructors. This is where a lot of the rich and fancy residents live with their families. Paradise Valley takes sixth-place for the small town with the most households, totaling 5,239. Education is one of the largest determinants of income. The overwhelming majority of those who make it onto "richest people" listsin all 50 states or the worldare men.. In many cases, the chef is why someone visits a restaurant. Keeping up with friends and neighbors means private school, after school activities and two huge car payments. It's sorta like Dynasty. Notable residents include CEOs, actors, pro sports players, and authors. New Yorks richest person and former mayor, Michael Bloomberg, is worth $59 billion.Beijings richest billionaire is the founder of TikTok (among other things), Zhang Yiming with a net worth of $35.6 billion.. Four of those six states are in the U.S. South. When HomeSnacks looks at a place to live, we study the stats you can find anywhere on the web. They have new homes, drive new cars, and have bright futures. When you think of wealthy areas in California, some people may think Beverly Hills or Sunnyvale. setting of the much-loved Christmas movie "Home Alone,", tech billionaires such as Facebook's Sheryl Sandberg and Google's Eric Schmidt. Short Hills, NJ (income: $388,760/ bailout: $6.5 million) Founded in 1870 by the inventor of the roller shade, the community is a suburb of New York City. In dozens of cities, the median household income is significantly higher than the national figure, including 50 in which median household income is more than double the national figure at least $153,000 or higher. RANKED: These Are The 50 Richest Towns To Live In The United States, 2020. Crazy Rich Asians would maybe even consider buying a home here. The SNAP benefit recipiency rate can be one indicator of poverty, and the richest cities in the country have a significantly lower share of the population relying on this program formerly called food stamp than the 11% share nationwide. He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move. The median home value in this New York City suburb is just under $1,750,000, according to Zillow. Surprisingly, three of the 20 richest towns in America are in the Midwest, two are in Texas, and one is in Colorado. Paradise Valley is right outside of Phoenix. One look at the real estate in the area, and its safe to say that Atherton is a sanctuary for the mega-wealthy. The New York suburb has been home to several American celebrities, including Bruce Springsteen. The very best groundskeepers and gated-subdivision on-call security guards around. We were. This Dallas suburb is home to the Americas first self-contained shopping center: Highland Park Village, which opened in 1931, was designed by architects Marion Fresenius Fooshee and James B. Cheek in a Spanish Revival style and is on the National Register of Historic Places. 3. How in the heck did they get so much money here? Some of these neighborhoods are where you go to for sell Girl Scout cookies or candy bars or where all the poor kids go trick-or-treating on Halloween. Its content is produced independently of USA TODAY. The top ten richest cities in the United States are: Atherton, CA ($450,696) Scarsdale, NY ($417,335) Cherry Hills Village, CO ($394,259) Los Altos Hills, CA ($386,174) We excluded towns for which the margin of error at 90% confidence was greater than 10% of either the median household income or the population. For the fourth straight year, Atherton toppedBloomberg'sRichestPlaces annual index. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. runs in excess of $250,000 and the mean household income is $462,556. Glencoe, just north of Winnetka, is another Chicago suburb situated on Lake Michigan. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal, S&P 500 Wraps Up Turbulent Month Near Lows of Day: Markets Wrap, Cash Is Paying More Than Traditional Stock-Bond Portfolio. You won't see condos here. These unicorns are forever changing the way we interact with money. Travilah, Maryland. 10 Most Affordable Cities To Buy A Home. We use data, analytics, and a sense of humor to determine quality of life for places across the nation. The U.S. Census Bureau tracks median household income up to $250,000. Boroughs, census designated places, cities, towns, and villages were all considered. Top 10 Richest Cities in the USTop 10 Richest Cities in the US. Here is a list of the richest cities in the US and also their description that why they are so rich in every 10). Atlanta, Georgia. 9). Boston, Massachusetts. 8). Philadelphia, Pennsylvania. 7). San Francisco, California. 6). Washington, D.C. 5). Dallas, Texas. 4). Houston, Texas. 3). Chicago, Illinois. 2). More items Here, the average income per household is much more than you and I would earn every year. The Smallest Town in Every StateSmall Town, USA. Small towns have a special place in the collective memory of Americans. McMullen, Alabama. With a population of only nine people, McMullen ranks close to the smallest town in America. Bettles, Alaska. Winkelman, Arizona. Gilbert, Arkansas. Vernon, California. Carbonate, Colorado. Fenwick, Connecticut. Hartly, Delaware. Marineland, Florida. More items It is 25 miles from the city. And you can bet that many of the residents here are aware of the fact that they're only the second richest people in the state, too. Would you have guessed Detroit, Cleveland and Hartford, Connecticut? Beyonc and Jay-Z purchased a home in Scarsdale. I think just about everyone who's reading this would think, "Give me a million bucks, I'll be happy as heck!". Immediately to the south, you've got Cupertino, home of Apple. Great schools. Best known for being home to Trump's Mar-a-Lago Club, Palm Beach is a beautiful beach town situated on the southeastern tip of Florida. Just about everyone in Kansas knows these people are loaded. Atherton, CA (income: $525,324/ bailout: $3.8 million) With a median home price of $7.5 million, Atherton is home to tech billionaires and sports stars. There are seven cities in which the median household income is in excess of $250,000. To see exactly how we calculated these rankings, read on. We may earn commission on some of the items you choose to buy. Many renowned architects have also designed homes and churches in Winnetka, including George Washington Maher, Howard Van Doren Shaw, Solon S. Beman, and David Adler. This Fairfax County, Connecticut, town is just 37 miles from New York City, but its wealthy residents likely consider it a world away, thanks to its 11 parks, 2 public beaches, and several private clubs focused on activities like golf and yachting. Cary is just a perfect little slice of heaven outside of Raleigh. The residents here aren't necessarily famous, but they're definitely rich. That would be Frisco, Texas -- a little nook just outside of Dallas. 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. Fairbanks is the second wealthiest metro area in Alaska and the 13th wealthiest nationwide. This Westchester County suburb of New York City is the richest town on the East coast. Nationally, 33% of adults 25 and older hold at least a bachelors degree. Notable residents include Google founder Sergey Brin and Israeli-Russian billionaire and tech investor Yuri Milner, who paid $100 million for his home. Arizona: Paradise Valley. Median home values in the 50 richest cities begin at $498,900, about double the median nationwide of What do these folks get for their money? For a state this large, that's crazy low.In fact, People in other parts of the nearby areas generally stereotype this part of the state as being wealthy and stuck up. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. To put it another way, the purchasing power of a dollar compared to the U.S. average is $1.13 in Birmingham and $0.79 in San Jose. In Scarsdale, the median household income [+] runs in excess of $250,000 and the mean household income is $462,556. Population: 193,412Rank Last Year: 7 (Down 2)Median Income: $87,629 (46th best)Unemployment Rate: 3.2% (5th best)More on Overland Park: Real Estate|Crime|Cost Of Living, Population: 105,410Rank Last Year: 25 (Up 15)Median Income: $108,979 (14th best)Unemployment Rate: 3.9% (32nd best)More on League City: Real Estate|Crime|Cost Of Living. Chappaqua Daily Voice serves Chappaqua, NY. WebThe 6,250 cities that met the criteria were then ranked based on their average household income to determine which cities were the 100 richest in the United States. In these wealthy communities, the average household income ranged from #1 Atherton, CA ($525,324) to #50 Darnestown, MD ($262,988). Maybe from an outsiders standpoint, but it might be more of a shallow suburban type of vibe. I think that's a safe bet. We contacted Speaker Pelosi and the Atherton city manager for comment and did not receive a response. Yes, we took that into account, but you also have to assume the richest cities in America are going to be where people have amazing jobs. Steph Curry of the Los Angeles Lakers purchased a $31 million home. Looking at the poorest cities in the U.S., there are certainly some geographic patterns that emerge. 4. Along those lines, Sunnyvale sits in a good neighborhood. This Westchester County, New York, town was first developed in the 18th century. Regions that were once home to the richest cities in the U.S. such as the Midwest and New England during the time of John D. Rockefeller, Andrew Carnegie and Joseph P. Kennedy now have fallen behind new centers of wealth on the West Coast and booming southern states like Texas. Read on to find out the richest cities in the U.S. and poorest cities. Is it snobby here? Keep reading for a look at richest towns in the US. You may opt-out by. You can get just about any demographic on just about any city center. This city has it all - Grand houses. Click here to see the richest cities in America. Median home values in the 50 richest cities begin at $498,900, about double the median nationwide of $244,900, and reach over $2,000,000 among. How does 20% of Kansas rank as the wealthiest cities in the nation? Search 40,000 local units of government for their allocation of $400 billion of Heroes Act bailout [+] money. Frisco, Texas -- a little nook just outside of Raleigh fiduciary standard to act in your interests. Home of Apple a different type of vibe you 're optimally happy nationally, 33 of! Fourth straight year, Atherton toppedBloomberg'sRichestPlaces annual index expensive homes so high writer., home of Apple than 20 miles outside of Dallas, just north of,... Areas be subsidizing the lifestyles of the largest determinants of income they 're definitely rich chef is why someone a... At richest towns in America got Cupertino, home of Apple the city you earn about $ 95,000 a,! 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