"Worldwide high-net-worth individual numbers were down by 5% in the six-month period to June 2022. Why Is Marie Antoinette Everywhere Again? Being near a major metropolitan area does not guarantee an affluent community. Median salary in the city in 2019 in USD: 85,152, Median salary in the city in 2018 in USD: 85,152. With a high median salary comes a high standard of living and a high cost of living, all of which is applicable completely to Boulder in Colorado. Located roughly 25 miles northwest of New York City, Ridgewood is home to 25,179 residents, many of whom commute into the city for work. Because many towns in the country are small, data can be unreliable. Typically, moves by the wealthy within the U.S. "are related to finding better business opportunities in another city/state. High housing costs drive up the overall cost of living. Like the California cities ranking among Americas top 10 richest cities, San Carlos is very tech oriented thanks to its proximity to Silicon Valley. In Scarsdale, New York, the wealthiest city, 82.7% of households consisted of a married couple, and nearly half of those had children. Old Westbury lies in the heart of Long Island, about 30 miles east of midtown Manhattan. The top 20 richest towns in America all boast average household incomes above $300,000, while the top five ring up above $400,000. Most of these wealthiest communities have large populations of highly-skilled workers. Median household income: $73,231 Households earning While 86% of adults nationally had at least a high school diploma, at least 97% of adults in the wealthiest city did. Together, these two factorshigh college education and low poverty ratesare common among Americas richest cities (which will be apparent in the slides ahead). According to Zillow, the average cost of a home in Southlake steadily increased from 2013 to 2019 before shooting up in the past three years. Goods and services in New York-Newark-Jersey City are about 22% more expensive than they are on average nationwide. Fairbanks is the second wealthiest metro area in Alaska and the 13th wealthiest nationwide. The metro area around Colorados capital city is the second wealthiest in the state and 23rd wealthiest in the country. The total private wealth held by New York residents was found to exceed $3 trillion. More:Thinking about where to retire? In the richest American cities, the large share of high-earning residents does not mean an absence of financial hardship. At one point or another, Dolly Parton, Taylor Swift, Keith Urban, Sheryl Crow, and Eli Manning have all called the upscale city home. Wise up with top Moving from West to East, Americas second richest town is Scarsdale, New York, which is The education levels in these communities are especially high. Amazon, Microsoft, Facebook, and Google all are major area employers. In five metro areas on this list, the poverty rate exceeds the poverty rate across the state as a whole. Median salary in the city in 2018 in USD: 80,469. This table includes only zip Up north is Wilmette, a suburb of Chicago situated on the western shore of Lake Michigan. The prize for the highest Gini on our list goes to Greenwich, Connecticut, with its 0.65 reading, suggesting a much higher proportion of its residents wealth were in the hands of far fewer households. Like its neighboring wealthy communities, very few Essex Fells households reported low incomes. While the state as a whole is relatively wealthy, Trenton is the only one of the four metro areas in New Jersey to rank among the wealthiest in the country. The richest counties in the U.S. are found about where one would expect. It has been home to many notable people, including John and Alice Coltrane. Unlike the other top 10 richest cities in America, the typical home value in Ridgewood is less than $1 million, coming in at $840,862 in 2022, according to Zillow. The average in Clarendon Hills, Illinois, about 25 miles west of downtown Chicago, jumped 15 percent in 2016 from the prior year to break into the top 100 for the first time with a tally of $199,325. Virtually the entire adult population of the town had at least a high school diploma compared to 86% of adults nationwide. However, the Bay Areas high incomes are more than enough to offset the high cost of living. Remarkably, that's more than the total private wealth held in most major G-20 countries. NEW ALBANY, OH A Bloomberg report identified the 100 richest towns in America, and three Ohio cities made the cut. In some U.S. cities, however, more than half of all households earn well over $70,000 per year. The To highlight some of the factors that create hyper-wealthy townships, 24/7 Wall St. reviewed income data from some of the wealthiest towns, cities, and boroughs around the country. While a healthy job market is important for any metro area's economy, the kinds of jobs available contribute significantly to income levels. Nicknamed The Insurance Capital of the World, Hartford is home to some of the largest health insurance companies by revenue, including Aetna and Cigna. About 63,000 people lived there as of 2019, and of the adult population 85.9 percent hold a bachelors degree, making Bethesda the second most educated city in the United States. 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. There are likely two reasons for this. An average household income closer to $200,000 is now required to break into the top 100 compared with about $190,000 in last years Bloomberg analysis. 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. Moving from West to East, 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%. More than 30,000 people lived there as of 2019, with 68.3 percent of adults holding a bachelors degree. It may have the most millionaires in the entire world, but the median salary is still not even in the top 10, and hence New York has to lay low in our list. However, the county is also home to Bridgeport, one of the poorest cities in the United States. The San Jose metro area is by far the wealthiest in the country. Median household income: $224,485. Austin, Miami, West Palm Beach and Greenwich are other U.S. cities that have seen a major year-to-date increase in wealthy people. Scarsdale village, New York > Median household income: $233,311 > Total population: 17,337 > Median home value: $1,000,000+ > Metropolitan area: New York-Newark-Jersey City, NY-NJ-PA Dollar Money Icon with Bag. According to Zillow, the typical home value as of 2022 is $3,742,407, making it the second highest after Los Altos. (Thats not to say it shouldnt be addressed though.). One reason for Southlake's wealth? In every metro area on this list, the typical home is worth more than $205,000 the national median home value. The typical metro area home is worth $712,800, or about three and a half times the value of a typical American home. The most prosperous metro areas in the country often have relatively strong job markets, as evidenced by low unemployment. The bucolic town of Los Altos Hills, California, climbed three spots to No. The top five cities with the fastest growing millionaire populations are not in the U.S., however. 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. ALSO READ: The Healthiest County in Each State, 3. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Now the Midwest is starting to make some noise. Median salary in the city in 2019 in USD: 88,535, Median salary in the city in 2018 in USD: 83,755. The March 2018 unemployment rate in the United States was 4.1%. It is a rural place to live but is only a little over an hour away from both Manhattan and the Hamptons, so its a great central location for commuters and beach lovers alike. You would think the biggest superpower in the world and one of the most developed countries would also have a high level of equality among the masses. Scottsdale, Arizona, rounded out the top three fastest-growing cities in the U.S. for millionaires. 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. Orinda city, California > Median household income: $164,437 > Total population: 18,108 > Median home value: $973,600 > Metropolitan area: San Francisco-Oakland-Hayward, CA. As for home value, the typical home in Potomac in 2022 is worth $1,186,488, according to Zillow. ALSO READ: 9 Oil and Gas Stocks Analysts Want You to Buy Now, 5. McLean is in Fairfax County, which is renowned nationally for its public schools. Over 2.7 million people live in the MSA, which has seen a strong decrease in the salary over the previous year. Winnetka village, Illinois > Median household income: $211,250 > Total population: 12,273 > Median home value: $936,200 > Metropolitan area: Chicago-Naperville-Elgin, IL-IN-WI. There has been absolutely no change in this MSA, which is an exceptional statistic in itself. The typical Connecticut household earns $73,433 a year nearly $1,000 more than the typical Hartford metro area household. The wealth of the top 1% was 30% then, still a lot, but at least 10% below what it is now. The area's high incomes may be necessary as a dollar spent there does not go as far as it does in the United States as a whole. The typical area household earns $80,513 a year, more than the median income in all but six other U.S. cities. The richest cities in each state: Some of wealthiest are in California, Maryland, New York and Virginia Grant Suneson, Evan Comen and Samuel Stebbins Median salary in the city in 2019 in USD: 80,676, Median salary in the city in 2018 in USD: 81,037. A number of the wealthiest metropolitan areas in the country can be found on the West Coast, and nearly all of these in California. While high-paying jobs in certain geographic areas will help you live large, there are ways to measure whether your wealth stays large no matter where you reside. The fastest-growing city in each state. 25 of America's highest paying jobs. This trend is especially common in the tech sector, with Oracle and Tesla moving from California to Austin, and Hewlett-Packard Enterprise relocating to Houston earlier this year. Maryland is the wealthiest state in the country. Nationwide, just 13.5% of all workers are employed in these sectors. And considering the lower median home value ($939,539 in 2022), its more reasonable than many of the other rich cities on this list. While all but one other wealthy area on this list had a median home value of at least $750,000, Southlake had a relatively low median home value of $514,900. More than 26% of West University Place workers were employed in professional, scientific, management, and administrative roles, compared to 10.6% of workers nationwide. The typical household in the metro area earns $71,897 a year, more than in any other metro area in New York state and well above the national median household income of $57,617. The area's high incomes, however, are largely offset by a high cost of living. Total Wine & More is the biggest company to work for in Potomac, as its situated just a few miles down the road from the center of town in Bethesda, Maryland, another of Americas richest cities. The wealthiest cities in the country also tend be geographically concentrated. Over the years, Austin has emerged as a tech hub. Now the typical home value in Southlake is $1,047,548. And, as a fun fact, once upon a time F. Scott Fitzgerald lived in Westport, as did Martha Stewartboth of whom only add to the citys lavish appeal. In addition to its proximity to NYC, Westfield has attractions of its own, including Lenape Park, a 450-acre nature reserve. The U.K.'s London, for example, recorded a 9% drop, causing the city to fall to fourth in the overall ranking. Average household income excluded households without any type of income. West Palm Beach, Florida, ranked second on the list. More:Despite overall sustained GDP growth in US, some cities still hit hard by extreme poverty. Located along the Long Island Sound, Westport is just 52 miles northeast of New York City, making it a popular destination for those looking to work in the city but live outside of it. What's the best place to keep money you need to use soon? Goods and services cost 25% more in Urban Honolulu than they do nationwide on average. Twenty-one of the cities were in California, with the majority in the San Francisco Bay area. More:Is your city's population keeping pace? Cost of living by metro area, or regional price parity, is for 2015 and came from the Bureau of Economic Analysis. Yet another New Jersey community to make this list of the wealthiest towns in America, Essex Fells is just a short drive west of Glen Ridge. Since the city is nestled just outside of the District of Columbia, many of its 45,000-plus residents work in the nations capital, and 80.6 percent of adults have at least a bachelors degree.

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