Places like Dickinson, located in the oil-rich Bakken Formation, were mining millionaires. 2,047) Bloomberg created and ordered this list by annual household income. Unfortunately for millionaires and folks of lesser means, New York State taxes take a bite. An income of $0.88 in Birmingham equals an income of $1.27 in San Jose with the U.S as a whole having an average PCPI of $1.00. Once upon a time before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily Dan worked for Spy magazine, scribbled away at Time Inc. and contributed to Maxim magazine back when lad mags were a thing. Genesee is the most highly-educated small city or town in Colorado, as 79% of residents 25 and older hold at least a bachelor's degree. 13 Best Vanguard Funds for the Next Bull Market. Genesee has a median annual household income of nearly $160,000, more than double the state median. . T-shirts, pillows, running shoes and even underwear are being sold, Hertz is selling thousands of used cars in its fleet in bankruptcy at bargain prices, Money tips and advice delivered right to your inbox. 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). It became the first and only neighborhood in America to top the half-million-dollar mark. 12 Cheapest Small Towns in America 2020. It also has a trio of 18-hole golf courses. Percentage of global population: 1.2%. As we shall see, another area near Laconia makes this list of small towns with a high percentage of millionaires. Most households in the area earn over $170,000 a year -- more than triple the median annual household income statewide of $55,000. Since then, the 2020 median household income has been reported as $67,521, a 2.9 percent decrease since 2019, . Median household income: $92,052 (state: $47,942), Poverty rate: 3.6% (state: 19.4%), Median home value: $234,500 (state: $157,800). Scarsdale, NYsales price of $1.2 million, Scarsdale is the richest town on the East Coast. Boating, fishing, snorkeling, scuba diving and lazing on the beach are just some of Key West's draws. The median . To compiler their 2020 list of the 50 richest places, Bloomberg "evaluated . Arizona has one of the highest poverty rates of any U.S. state, at 16.1%, 2 percentage points higher than the U.S. rate. By Dan Burrows Adjusted median household income: $103,100. Water views, rolling hills and a verdant landscape (at least in the warmer months) make for many an idyllic scene. As a bonus, gun buyers aren't reliant on hit-and-miss sales or once-a-year clearance events, to save money. More than 9% of Williston's households are considered to have millionaire status, but the absolute number of millionaire households actually declined from 2019. Back out things such as the value of real estate (the bulk of most folks' wealth is tied up in their homes), employer-sponsored retirement plans and business partnerships, and only 6.7% of American households qualify as millionaires. CEOWORLD magazine - Top Stories - C-Suite Lifestyle - RANKED: These Are The 50 Richest Towns To Live In The United States, 2020. Austin, Texas. 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. Published 17 January 23. places to live Hot springs, rafting, kayaking, fishing, hiking, mountain biking and golf, among many other activities, make Glenwood Springs a year-round destination. The typical home in Horace is worth $293,800, the most of place in North Dakota and far more than the median home value statewide of $185,000. The wealthiest place in the state, New Albany has a median household income of $203,194, nearly four times the income the typical Ohio household earns annually. Dallas. Accessibility to a city center is typically a key characteristic of the cities on the list. 6. Glencoe, IL. 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. 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, Portugal Golden Visa Program. They have new homes, drive new cars, and have bright futures. Sign up here, Your California Privacy Rights/Privacy Policy. Median household income: $123,564 (state: $51,015), Median home value: $316,500 (state: $154,800). Topsham is a Census-designated place of approximately 6,100 residents located about 25 miles north of Portland, Maine. AI stocks have been bloodied up in recent months, but the technology's relentlessly growing importance should see the sun shine on them again. Duvall is a small city of about 8,000 people located 25 miles northeast of Seattle. The downside? Jim Walton is the last heir to the Walmart fortune. In Los Alamos, most households earn over $100,000 a year. 1 Bethany ($121,149) This town is the richest in the entire state of Oregon and it even has a larger population of 20,646. The states with the highest number of the richest cities are California with 23, New Jersey with 18, and New York with 13. Elko's fortunes rise and fall with the price of gold, so one would hope that its millionaire population is properly diversified. New Mexico's personal income tax rates top out at 4.9% on taxable income over $16,000 for single filers and over $24,000 for married couples filing jointly. Find the full list of America's 100 Richest Places on Bloomberg. The top 20 richest towns in America all boast average household incomes above $300,000, while the top five ring up above $400,000. 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). This city in the oil-rich Bakken Formation soon found itself home to fracking millionaires. No need to worry about health care, either. Ocean Pointe is a Census-designated place on the island of Oahu within commuting distance of Honolulu. You can sum up the appeal of Edwards in one word: skiing. In this article we take a look at the 30 richest cities in the United States. New York, 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. 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. It's a small area with a small population but a large percentage of highly educated and highly trained engineers and scientists. What had fueled this remarkable growth was oil, specifically the discovery of the Glenn Pool oil field in 1905. Now in its 17th edition, this year's Report provides a detailed analysis on economic performance, wealth creation and asset classes around the globe, as well as our forecast for commercial and . Examples of investable assets include cash, stocks, bonds and funds, among a bunch of other types of investments and financial products. The typical household earns $214,477 a year, more than three times both the state median household income of $59,570 and the $60,293 national figure. The 150 richest cities in the world by GDP in 2020. One whistleblower estimated it at $200 billion. Median household income: $72,537 (state: $55,425), Poverty rate: 10.6% (state: 12.5%), Median home value: $218,800 (state: $184,500). Median household income: $204,145 (state: $56,213), Median home value: $1,505,300 (state: $209,600). It is a short drive from Charlotte. 10. And the long, snowy winters are perfect for the numerous ski resorts in the vicinity of Truckee and Grass Valley. Hudson boasts scores of antiques dealers, which led the charge in making the town attractive for new residents, tourists and wealthier folks in search of second homes. Seattle, Tacoma, and Bellevue combine to become some of the richest cities in America. Idaho's median annual household income is just over $53,000, which is lower than the majority of states. A far higher than average share of workers in Buckner work as health diagnosing and treating practitioners, which are generally high paying jobs. With a median income of $123,220, Buckner is the wealthiest place in Kentucky. Raleigh-Durham International Airport. 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). Real estate values in Winchester reflect the area's high incomes. 1 Boca Grande. 8. ; The 15 Richest Countries in the World With a median household income of $156,205, Duvall is the wealthiest small city or town in the state. 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 By Kyle Woodley Of all area residents 25 and older, 70.6% have a bachelor's degree or higher compared to 28.6% of adults across the state as a whole. Billionaires say to be successful, do these simple things every day. A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. 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. Unfortunately, some of the other state and local taxes aren't quite so taxpayer-friendly. The median annual household income is over $228,000 -- more than triple that of the state. Due in part to a warm climate, proximity to the ocean, and access to a major city, homes in Pinecrest are expensive compared to statewide home values. The small city has grown in tandem with SMU and the larger Dallas metro area, increasing from a population of 4,200 in 1930 to 24,954 today. And thanks to abundant revenue that the state collects from oil and mineral rights, Wyoming millionaires shoulder one of the lowest tax burdens in the U.S. For those living in Idaho, the tax situation is a bit more mixed (opens in new tab). The 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. West Virginia has the lowest bachelor's degree attainment rate of any state, at 20.3%. In many cases, the chef is why someone visits a restaurant. Its content is produced independently of USA TODAY. 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 . 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. The area sits between Lake Winnisquam and Lake Winnipesaukee in the middle of New Hampshire's famed Lakes Region. A million bucks in liquid assets isn't what it used to be, but it's still really hard to amass. The typical Clarkson Valley household earns about $171,000 a year, more than three times the income the typical Missouri household earns. 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. Median household income: $93,194 (state: $52,559), Poverty rate: 2.4% (state: 13.7%), Median home value: $331,900 (state: $219,600). Median household income: $106,285 (state: $54,325), Poverty rate: 3.7% (state: 14.1%), Median home value: $196,800 (state: $135,400). 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. A wealthy suburb of the Omaha metro area, Papillion has grown from approximately 1,000 residents in 1950 to more than 20,000 today. New! 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. Tega Cay, South Carolina, is located on a peninsula along Lake Wylie, just south of the border with North Carolina. Median household income: $117,300 (state: $59,209), Poverty rate: 3.5% (state: 11.9%), Median home value: $373,200 (state: $173,600). 24/7 Wall St. reviewed the median annual household income in over 2,600 cities, towns, villages, and census designated places to identify the richest town in every state. Washington, D.C . It has ranked in the top five of Outside magazine's best places to live in America, and Southern Methodist University once named it the "Most Vibrant Small Town Arts Environment in the United States. The median household income in Highland Lakes is more than triple the median income across Alabama as a whole. Jackson is a town in Wyoming's famed Jackson Hole valley. While Silicon Valley and the New York metro area make up a big chunk of this list, the richest people in America also take up residences in Arizona, Florida, Colorado and Virginia. The typical home in University Park is worth $1.2 million, compared to the median home value of $161,700 statewide. Driving time: 6 hours, 14 minutes. Incomes tend to rise with educational attainment, and as is often the case in other states, Missouri's wealthiest town is also its best educated. And, unlike more rural parts of the vacation wonderland, Laconia is just a few miles off Interstate 93. Spring Creek is a small suburb of approximately 14,000 residents in Elko County in northeast Nevada. His wealth has rocketed to $10.9 billion from $4.6 billion in 2020. All of the wealthiest neighborhoods in America on Bloomberg's Richest Places Index have average household incomes over $300,000. This abandoned high school was converted into a 31-unit apartment building. Kiplinger is part of Future plc, an international media group and leading digital publisher. And just when Alaska could see an end to the downturn, COVID-19 hammered the energy sector. Incomes in the town are so high likely partly because of the residents' high level of education -- more than two-thirds of Highland Lakes residents 25 and over hold at least a bachelor's degree, one of the larger shares of any small city or town in Alabama. Here are . The three largest employers in Linn County, where Robins is located, are in the aerospace, insurance, and health care fields, all of which can pay relatively high salaries. Built with one-acre plot minimums for most of its history, the Inverness housing stock is among the most expensive in the country. But the area offers a wealth of outdoor fun year-round. This idyllic town has all the charms of Old Florida--a thriving fishing industry, mom-and-pop eateries, and, of course, beaches built for casual strolling. The typical household in Vermont earns about $60,000 a year, in line with the national median household income. 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 . In winter, it's all about skiing. Tiny Elko, Nevada, owes its high concentration of millionaires to its status as the capital of Nevada's gold mining industry. Complete list click for interactive table. Centerton is situated next to Bentonville, the home to Walmart's corporate offices and its roughly 17,000 employees. 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. Median household income: $131,354 (state: $63,473), Poverty rate: 1.5% (state: 10.9%), Median home value: $293,800 (state: $185,000). Scottsdale, Arizona. 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. Less than 2% of the town's 5,500 residents live below the poverty line, a fraction of the state poverty rate. Here are the 20 richest counties in the U.S. and the average household incomes of each, according to DailyMail.com's report. Even in one of the wealthiest states, Greenville stands out as especially affluent. The Aloha State is known for its high cost of living and a mixed picture when it comes to taxes (opens in new tab). "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. 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. 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. Edgeworth was originally developed in the late 19th century as a haven for managers and professionals wanting to escape the pollution of industrialized Pittsburgh, and today it has some of the most expensive homes in the state. : Hertz is selling thousands of used cars in its fleet in bankruptcy at bargain prices, Save better, spend better: Money tips and advice delivered right to your inbox. With nearly a $12 million annual salary, Walters was one of the highest-paid news anchors . Reply. It is one of the most educated towns in the state, with 48% of the population holding a bachelor's degree. The wealthiest 1% of Americans hold an amazing 40% of all wealth. 10. Atherton is the richest town in America. Visit our corporate site. The typical home in New Albany is worth $494,600, more than three times the state median home value of $140,000. In Paradise Valley, just 5% of residents live in poverty. Many of those jobs in and around Fairway are high paying, as most households in the area earn over $100,000 a year, and more than one in five households earn $200,000 or more. The Federal Reserve has been aggressive in its rate hiking, and it's likely not done yet. "Oak Harbor is usually regarded as the poorer but more developed stepsister when compared to other Whidbey municipalities," notes the Whidbey News-Times. Millionaires in America 2020: All 50 States Ranked. The city continues to attract some very educated people; about 44% of adults in the area have at least Bachelor's Degrees. Hudson has become popular with millionaires and non-millionaires alike thanks to its myriad restaurants, art galleries and nightlife. Sponsored Content (opens in new tab) Previous Next 2/25 (Image credit: Getty Images) 24. 10 Dividend ETFs to Buy for a Diversified Portfolio. And when demand finally started to improve, the COVID-19 pandemic slammed the energy sector. The village was originally incorporated in 1892 as a means to organize a school system for the children of farmers, and today it is the wealthiest small town in Wisconsin. 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. It became the first and only neighborhood in America to top the half-million-dollar mark. As of 2020, Jim Walton's net worth is $44.6 billion, placing him at 11th on this list of the richest people in America. More than half of all adults in the area have a bachelor's degree or higher, compared to 35.3% of adults living in Washington state. To clarify: That means they have at least $1 million in investable assets. Mississippi: Sherwood-Audubon Area, Jackson. 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: $71,111 (state: $53,089), Poverty rate: 3.6% (state: 13.8%), Median home value: $364,600 (state: $192,300). West Palm Beach, Florida. The median annual household income in Ocean Pointe is $114,801, more than in any other small city or town in Hawaii. The allures of the Key West area are well known. However, when it comes to the highest concentration of . Here are nine of the best stocks for rising interest rates. 6. 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. For each location in the U.S., Bloomberg evaluated inflation-adjusted household income data from the past 12 months, with a minimum of 2,000 households, and ranked each by average household income. Connecticut's median annual household of $76,106 is about $26,000 more than the median nationwide. Genesee is a small Census designated place located less than 20 miles west of Denver. 11 March 2007: The tables provide GDP figures for cities and their surrounding urban areas in 2020. The boom times looked to be rolling again in North Dakota until COVID-19 gutted oil demand. Heres how retirees can benefit from changes in required minimum distributions (RMDs), qualified longevity annuities and IRA catch-up contributions. Destrehan is a Census-designated place with 11,000 residents, located about 20 miles west of downtown New Orleans. Pound Ridge, NY (pop. A relatively low-income state, New Mexico is one of only seven states nationwide where most households earn less than $50,000 a year. Another attractive aspect of the area is that the City of Lebanon operates Storrs Hill, a 20-acre ski area that hosts three ski trails, two ski jumps, a surface lift and ski lodge. Over the last five years, the number of people living Ocean Pointe jumped by 44%. South Carolina has one of the higher poverty rates among states, at 16%. We've rounded up the wealthiest citizens from 31 rich countries, including America, the UK, Canada, and Australia. Dan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University. The median in Jenks is tens of thousands of dollars higher, at over $93,000. 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. A popular New England vacation destination, Hampton is home to some of the most expensive houses in New Hampshire. Of all adults in the area, 38% have a bachelor's degree or higher, compared to 33.3% of adults statewide. 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. Seattle-Tacoma-Bellevue. List of Top 10 Highest Paid News Anchors in India. Theres also a home for sale 6.8 times that size (15,300-square-foot) and more than 19 times that price, listed at $32 million. The town also has a poverty rate of 4.1%, less than a quarter of the state poverty rate which is 17.8%. Bridgeport, just south of Morgantown and West Virginia University, has the highest four-year college attainment rate of any town in the state, at 50.7%. Given the school's very highly selective . Demand for oil is gradually coming back, but it is by no means taking off. Source: Bloomberg. 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. Clarkson Valley is a small Missouri city of less than 3,000 people. Median household income: $92,688 (state: $74,057), Poverty rate: 4.3% (state: 7.9%), Median home value: $358,300 (state: $252,800). For context, the typical American home is worth about $205,000. 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. Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts. Bethany is the most affluent neighborhood in Oregon. The nearby world-class resorts of Vail and Beaver Creek draw big-spending skiers hoping to see and be seen all winter long. The campus covers over 8,693 acres of land of three adjoining campuses in Durham and in Beaufort, there is a marine lab for students to explore. As is often the case in wealthy communities, Fairway has high real estate values. Major employers in the area include Amazon, Boeing, and Microsoft. With its covered bridges, forests and rivers, the scenery is gorgeous. With everything from ski resorts to beaches, the Lake Tahoe area offers year-round activities for well-heeled tourists and full-time residents alike. The town's widespread prosperity suggests that Ocean Pointe is a desirable place to live. With three major ski resorts and an abundance of other year-round recreational activities, it's easy to see the appeal for those with means.
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