Atherton isn't the only town touting notable wealth, though. Indeed, if Nevada were a country, it would be the world's fourth-largest producer of gold behind China, Australia and Russia, according to the U.S. Geological Survey. The typical Winchester home is worth $893,700, more than double the median home value of $366,800 in Massachusetts. Pinecrest, Florida, is located a few miles south of Miami, just inland from Biscayne Bay. 10. If your ideal summer retreat is a lakeside getaway, you could hardly do better than Laconia. Most homes in Belvedere are worth more than $2 million. 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. The best healthcare stocks offer investors a defensive hedge in an uncertain market. All of the wealthiest neighborhoods in America on Bloomberg's Richest Places Index have average household incomes over $300,000. 3); and Cherry Hills Village, Colorado (No. 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. 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. Great Falls is just across the Potomac River from Maryland and a short commute away from Washington, D.C., giving residents access to the many high-paying jobs available in the area in government and with government contractors. Median household income: $106,288 (state: $48,059), Median home value: $295,600 (state: $166,800). Many residents likely commute to high-paying jobs in nearby Birmingham. Los Angeles, Chicago and Houston round out the top five . The median . March 6, 2018 9:00am by Barry Ritholtz. As we shall see, another area near Laconia makes this list of small towns with a high percentage of millionaires. Although Torrington might be hidden in the northwest corner of the state, millionaires can't escape Connecticut's onerous tax bite (opens in new tab). Horace is a small bedroom community located roughly 10 miles southwest of downtown Fargo. 30.0. People with higher educational attainment are more likely to hold higher-paying jobs. But the area offers much more than pricey lift tickets and celebrity spotting. But the state has a 4.95% flat income tax system, property taxes are low and sales taxes are average. The typical Montana City household earns $93,194 a year, the most of any small city or town in Montana and far more than the $52,559 state median household income. Kiplinger is part of Future plc, an international media group and leading digital publisher. Cashing in on George Floyd: T-shirts, pillows, running shoes and even underwear are being sold, Median household income: $151,055 (state: $48,486), Median home value: $441,000 (state: $137,200). Dickinson's number and percentage of millionaire households declined year-over-year. Inverness is a suburb located some 33 miles northwest of downtown Chicago in Cook County. Glencoe, IL. These commodity ETFs offer investors exposure to the diverse asset class, which is a helpful hedge against inflation. Some 39% of adults have a bachelor's degree or higher, well above the comparable 23.7% share of adults across the state as a whole. And don't forget the incomparable sunsets. High-income areas tend to have well-educated populations -- and Duvall is no exception. Most such agglomerations are economically, socially and culturally dominated by one city at their centre. 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. The typical Inverness household earns $180,541 a year, nearly three times the median household income of $63,575 across Illinois as a whole and the most of any small city or town in the state. Sponsored Content (opens in new tab) Previous Next 2/25 (Image credit: Getty Images) 24. More than 9% of Williston's households are considered to have millionaire status, but the absolute number of millionaire households actually declined from 2019. Today it has some of the most expensive homes in North Carolina. Indeed, benchmark U.S. crude oil is off about 35% over the past year. In comparison with most other states, Mississippi's most expensive neighborhood isn't actually all that expensive especially when you consider that the median home value in Florida is more than $8 million. A steep drop in oil prices first sparked pain across the Bakken about five years ago. Hard work is embedded in American culture. revealing the wealthiest towns in the US. Top 5 fastest-growing U.S. cities for millionaires. Subscribe and turn on notifications (?) Here is the list of top 14 wealthiest towns in America as of March 2023 1. Grant Suneson, Evan Comen and Samuel Stebbins. The typical home in University Park is worth $1.2 million, compared to the median home value of $161,700 statewide. Microsoft co-founder Paul Allen's estate sold for over $35 million in 2020. The allures of the Key West area are well known. Summary: The Wealthiest Cities in America For 2022. You might think Palm Beach would easily . Median household income: $141,533 (state: $65,627), Poverty rate: 1.8% (state: 11.9%), Median home value: $444,400 (state: $244,700). Oxnard-Thousand Oaks-Ventura, California. The typical household in Papillion earns $80,853 a year, the most of any small city or town in Nebraska and far more than the state median household income of $59,116. More than one in every five households in the area earn over $200,000 a year. Buckner is a Census-designated place located about 20 miles northeast of Louisville. Largely agricultural for most of its history, Weddington began to develop more residential housing in the 1970s in tandem with the expansion of the Charlotte metro area. For the fourth straight year, Atherton topped Bloomberg's Richest Places annual index. 13 Best Vanguard Funds for the Next Bull Market. The median annual household income in Ocean Pointe is $114,801, more than in any other small city or town in Hawaii. 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. Every one of the top 20 towns have households that bring in at least $300,000 a year. Tiny Elko, Nevada, owes its high concentration of millionaires to its status as the capital of Nevada's gold mining industry. . Like all Floridians, Key West's millionaires save a bundle on taxes. Bloomberg released its annual list of the richest town . Hidden Valley is a private residential community on the eastern edge of Indiana, just across the Ohio border from Cincinnati. Future US, Inc. Full 7th Floor, 130 West 42nd Street, But as anyone who works in the oil patch knows, booms and busts are an integral part of the industry. 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. Median household income: $170,952 (state: $53,560), Poverty rate: 1.3% (state: 14.2%), Median home value: $629,200 (state: $151,600). Batten the hatches for continued market tumult without eating high fees with these six Vanguard ETFs and mutual funds. With its covered bridges, forests and rivers, the scenery is gorgeous. The city continues to attract some very educated people; about 44% of adults in the area have at least Bachelor's Degrees. The corporate leadership positions available to Centerton residents have likely helped raise the town's median household income to over $73,000 -- well above the statewide median of $45,726. 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. A Division of NBC Universal, A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. Millionaire households: 1,840; Vineyard Haven is a town on Martha's Vineyard. The median household income in Highland Lakes is more than triple the median income across Alabama as a whole. In others, a particular industry drives local wealth. Educational attainment is one of the largest determinants of income. Burlington, the largest city in the state, sits less than 10 miles west of Essex Junction. To determine America's richest towns, 24/7 Wall St. reviewed household income data from the U.S. Census Bureau's American Community Survey in every American town with a population of between . Sergey Brin. 24/7 Wall Street is a USA TODAY content partner offering financial news and commentary. In Avondale Estates, 74.8% of adults have at least a bachelor's degree, the largest share of any city in Georgia and more than twice the state college attainment rate of 30.7%. Reply. As a result, Hanover buzzes with a diverse mix of art, culture and outdoor sporting and recreational activities year-round. Naturally, this tony locale is not easy on the wallet, as evidenced by the exorbitant real estate prices. The Faribault-Northfield area is so desirable that Kiplinger has named it a great place to retire. 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. 2); Hillsborough, California (No. 9. AI stocks have been bloodied up in recent months, but the technology's relentlessly growing importance should see the sun shine on them again. For the fourth straight year, Atherton topped Bloomberg's Richest Places annual index. Across Missouri, 28.6% of adults have a four-year college education. To compiler their 2020 list of the 50 richest places, Bloomberg "evaluated . Real estate values in Winchester reflect the area's high incomes. 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. Elko's fortunes rise and fall with the price of gold, so one would hope that its millionaire population is properly diversified. A relatively low-income state, New Mexico is one of only seven states nationwide where most households earn less than $50,000 a year. Median household income: $228,836 (state: $71,564), Poverty rate: 2.8% (state: 10.9%), Median home value: $1,133,100 (state: $264,900). While incomes and home values often correlate, housing in Spring Creek is more affordable than in much of Nevada. Millionaires building second homes in the Steamboat Springs area have done more to push up house prices than wages. 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. Seattle-Tacoma-Bellevue. 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. Not only is there no state income tax, but the government actually pays residents an annual stipend. Median household income: $71,111 (state: $53,089), Poverty rate: 3.6% (state: 13.8%), Median home value: $364,600 (state: $192,300). The rugged mountain terrain is ideal for hiking, mountain biking, camping, you name it. This level of education qualifies Genesee residents for many of the high-paying jobs in the Denver area. A popular New England vacation destination, Hampton is home to some of the most expensive houses in New Hampshire. Median household income: $80,513. 10. 20 Dividend Stocks to Fund 20 Years of Retirement, Torrington is the largest town in Litchfield County, which has long been a popular retreat for Manhattan's wealthy and chic looking for a remote, mountainous retreat. 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). "Coupeville and Langley have higher incomes, swankier homes and older residents." Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016. 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? Its content is produced independently of USA TODAY. For the fourth year in a row, the suburb of Atherton, California topped Bloomberg's annual Richest Places Index. Destrehan is a Census-designated place with 11,000 residents, located about 20 miles west of downtown New Orleans. 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. 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. Honolulu in Hawaii is one of the 100 Richest Cities in America #8. The No. Another appealing aspect of the area for millionaires: It's a straight shot down Interstate 80 to reach Sacramento, the state capital, and San Francisco. More than three out of every four adults in the area have a bachelor's degree or higher, compared to 41.9% of adults in Massachusetts. 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). That helps explain its inclusion on the list of small towns with high concentrations of millionaires. Kip ETF 20: The Best Cheap ETFs You Can Buy. And the long, snowy winters are perfect for the numerous ski resorts in the vicinity of Truckee and Grass Valley. Real estate taxes are among the highest in the country, and the state has not only a luxury tax, but the country's only gift tax. Sure, Utah ranks as the second richest state in the country. August 25, 2020. The Wealth Report is Knight Frank's flagship annual publication, offering a unique perspective on global wealth, prime property and investment. Atherton is the richest town in America. Median household income: $133,768 (state: $68,374), Poverty rate: 2.6% (state: 10.3%), Median home value: $536,100 (state: $256,700). Corporate giants shouldn't be applauded for helping to solve crises their own policies have helped cause, writes Linsey McGoey. #2. Less Diverse. More importantly, it makes Laconia a relatively easy drive from points farther south where millionaires maintain their primary residences. A million bucks in liquid assets isn't what it used to be, but it's still really hard to amass. Heres how it works. Nevin Rudloff October 8, 2020 . We've rounded up the wealthiest citizens from 31 rich countries, including America, the UK, Canada, and Australia. Median homes prices top the U.S. median by more than $159,000. Atherton. Scarsdale, NYsales price of $1.2 million, Scarsdale is the richest town on the East Coast. The high incomes in the community are due in part to the presence of major companies. The county seat of Loudoun is in Leesburg, where most administration activities take place. As is typical among the cities and towns on this list, Essex Junction is within commuting distance of a larger urban area. Below are the 11 Chicago area towns that made the list with their rankings. One characteristic these towns have in common is a high level of education. And, unlike more rural parts of the vacation wonderland, Laconia is just a few miles off Interstate 93. Who said big money is smart? Median household income: $105,000 (state: $57,422), Poverty rate: 2.7% (state: 12.4%), Median home value: $352,200 (state: $145,400). The town's widespread prosperity suggests that Ocean Pointe is a desirable place to live. More than 10% of Alaska residents live in poverty, yet the poverty rate in Gateway is just 4.2%. By Jeff Reeves Tega Cay, South Carolina, is located on a peninsula along Lake Wylie, just south of the border with North Carolina. To clarify: That means they have at least $1 million in investable assets. These places aren't in the best states to move to in the USA, but a few are some of the wor. Reply. Glencoe - $308,625. Median household income: $129,081 (state: $58,580), Poverty rate: 0.7% (state: 11.7%), Median home value: $301,700 (state: $142,300). Laconia, New Hampshire. 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. Median household income: $174,750 (state: $54,938), Median home value: $856,700 (state: $146,200). Oak Hill is a small city of approximately 4,600 residents located about 7 miles south of downtown Nashville. 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. Dan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University. 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. All four have average incomes upwards of $400,000. Be that as it may, property taxes as a percentage of home value are the lowest in the U.S. By this point in our list of small towns with the highest concentrations of millionaires, it should be clear that Western ski resort towns are mighty popular with people of means. Accessibility to a city center is typically a key characteristic of the cities on the list. Here in Utah, things couldn't be more odd. 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. New York, Rock Springs has since transitioned from coal to an economy dependent on trona mines and oil and gas, and is today the wealthiest small town in Wyoming. Destrehan is a Census-designated place with 11,000 residents, located about 20 miles west of downtown New Orleans. The economy in Los Alamos is supported by the Los Alamos National Lab -- a research and development center for the Department of Energy and the National Nuclear Security Administration. Oak Harbor itself plays host to nearby Naval Air Station Whidbey Island. America's 100 Richest Places. Median household income: $176,528 (state: $68,411), Poverty rate: 0.3% (state: 10.1%), Median home value: $619,000 (state: $211,800). Most households in the area earn over $170,000 a year -- more than triple the median annual household income statewide of $55,000. Occasionally however, several cities of similar status and their suburbs make up an . Weddington is a small town of approximately 11,000 residents located 16 miles south of downtown Charlotte. Adjusted median household income: $103,100. All. 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. 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.". The town is centered by Hidden Valley Lake. According to Niche, the national percentage is 20%. 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. Launching and succeeding with an innovative, one-of-a-kind business is an exhilarating yet daunting journey. One whistleblower estimated it at $200 billion. NEW ALBANY, OH A Bloomberg report identified the 100 richest towns in America, and three Ohio cities made the cut. Here are . Clarkson Valley is the only small city or town in the state where more than 75% of the adult population has a bachelor's degree or higher. Major employers in the area include Amazon, Boeing, and Microsoft. Belvedere, California is just north of Richardson Bay, across the water from San Francisco -- the second richest metro area in the country -- and within driving distance of San Jose, which is the richest metro area. The top 20 richest towns in America all boast average household incomes above $300,000, while the top five ring up above $400,000. 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). The Evergreen State makes the cut because it doesn't have an income tax. Median household income: $159,536 (state: $77,378), Poverty rate: 2.5% (state: 10.8%), Median home value: $893,700 (state: $366,800). To ensure accuracy, we only considered places where the margin of error for population and median household income was less than 10%. But the town's signature draws are antiques and architecture. However, when it comes to the highest concentration of . Buzz60's Tony Spitz has the details. When you purchase through links on our site, we may earn an affiliate commission. Nearly 60% of Highland residents 25 and older hold at least a bachelor's degree, as compared to 33.3% of Utah adults. The typical Clarkson Valley household earns about $171,000 a year, more than three times the income the typical Missouri household earns. 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. Located along the Connecticut River bordering Vermont, this 50-square-mile town in the Upper Valley is home to Dartmouth College, the smallest of the eight Ivy League colleges. 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. Data on household incomes and home values come from the U.S. Census Bureau. 1 city on the list is . 2020-10-14T13:25:00Z . This unincorporated town in Essex County was founded by the inventor of the modern roller shade in the 1870s. Median household income: $132,587 (state: $52,413), Poverty rate: 1.7% (state: 15.4%), Median home value: $443,600 (state: $165,900). In the first half of the 2010s, North Dakota had the fastest-growing economy in the nation, thanks to the explosion in shale oil drilling. Median household income: $210,511 (state: $76,106), Median home value: $1,461,100 (state: $272,700). While many of the highest paying jobs tend to concentrate near large population centers, there are also smaller towns that are very prosperous. 50 Top Stock Picks That Billionaires Love. 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? The typical actual cost that students . Median household income: $97,143 (state: $57,598), Median home value: $225,400 (state: $242,400). Connecticut's median annual household of $76,106 is about $26,000 more than the median nationwide. Median household income: $153,417 (state: $53,267), Poverty rate: 5.5% (state: 14.8%), Median home value: $919,800 (state: $196,800). Estimates of millionaire households provided by Phoenix Marketing International. . While this is the record at the beginning of 2020, his salary will surely increase by the end of this year. Less than 2% of the town's 5,500 residents live below the poverty line, a fraction of the state poverty rate. 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. The typical home in New Albany is worth $494,600, more than three times the state median home value of $140,000. In Los Alamos, most households earn over $100,000 a year. The Beehive State ranks well in every category we measured. "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. For more sedentary folks, Breckenridge hosts the National Repertory Orchestra every summer and the Breckenridge Film Festival every autumn. A college degree can provide the holder with a much wider range of job opportunities, and the jobs themselves tend to be higher income. 5). Avondale Estates is a small city of approximately 3,100 residents located seven miles east of downtown Atlanta. Although gold mining is no longer much of a growth area, pulling the yellow metal from the ground does remain a productive endeavor. Pound Ridge, NY (pop. The typical area home is worth about $645,000, nearly double the value of the typical New Jersey home. Greenville's median home value is more than triple that of New York state, at over $950,000.