According to a recent study, if you earn about $95,000 a year, you're optimally happy. The very best groundskeepers and gated-subdivision on-call security guards around. 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. Allowing cities with less than 1,000 households to be included generated a list of cities that are even more extreme in their incomes, though many of these places have less than a hundred households or just a few hundred. Less than 15 miles outside of Cincinnati, this Hamilton County, Ohio, town was developed in the early 20th-century by a handful of wealthy businessmen who already owned property there. We only included census place geographies that have populations of at least 25,000. How the National Trust Is Changing America. What do these folks get for their money? In order to focus on cities, there is a 1,000-household minimum to be included in the study. None of the richest cities in the country are particularly large. Cherry Hills Village, CO Cherry Hills Village, Colorado scrapes into the top 3 with an average household income of $394,259. Rich people can spend all their money and then they're broke. For the rest of America, we can feel better about ourselves when we define rich as love, friends, health or the little things in life. Boroughs, census designated places, cities, towns, and villages were all considered. The 10 Richest Cities In The US For 2022 Cary, NC Centennial, CO Frisco, TX Sunnyvale, CA Fremont, CA Bellevue, WA Pearland, TX Olathe, KS Overland Park, 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. Population: 125,817Rank Last Year: 3 (Down 4)Median Income: $102,764 (19th best)Unemployment Rate: 3.8% (29th best)More on Pearland: Real Estate|Crime|Cost Of Living. And while there are wealthy towns all across the country (these are the richest town in each state), the very richest can be found in just a few states. Knowing this, Americans would be right to ask why Nancy Pelosis Heroes Act shelled out $3.8 million in coronavirus aid money to Atherton. #9. Combining these, we generated lists of the richest city and poorest city in each state were then identified. We aim to deliver bite-sized pieces of infotainment about where you live. Notable residents have included former AOL CEO Steve Case and Redskins owner Dan Snyder. Some parts of this area are just off the charts out of touch with reality. So, we mapped $400 billion in HEROES Act monies that are allocated to 39,000 local governments. Located in Monmouth County, New Jersey, Rumson boasts a population of just over 7,000 (as of 2020). WebAn 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. 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. the cities with the most expensive homes. It's safe. Overall, the average households bring in pretty big salaries every year. Some notable Americans who have called the Essex County, New Jersey, town home include actress Anne Hathaway and fashion designer Rachel Zoe. 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. These Are The 20 Richest Towns in America, This Cook County, Illinois, town is perhaps best known as the setting for director John Hughes. The median home value in this New York City suburb is just under $1,750,000, according to Zillow. Notable residents include CEOs, actors, pro sports players, and authors. Los Altos Hills is a Silicon 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. Do people work hard in this city? The leafy town on the Long Island Sound boasts 11 parks and has easy public transport links to Manhattan. For some, it's the only way to live. While that might seem high, for an entire city, it's really low. 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. This Phoenix suburb is the hometown of several celebrities, including Emma Stone, and is best known for its luxury resorts, such as the Camelback Inn, and golf courses. University Park is a suburb of Dallas. 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. 10 Most Affordable Cities To Buy A Home. All rights reserved. And while it might be easy to scoff at the success of folks here, you have to remember, just about everyone here worked their butts off to get to where they are. We use data, analytics, and a sense of humor to determine quality of life for places across the nation. Visit Business Insider's homepage for more stories. 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. Is it snobby here? But are most of their bank accounts pretty fat? It is home to Sarah Lawrence College. . You may opt-out by. Several of these cities, such as Johnstown, Pennsylvania, were once bustling centers of industry, namely iron, coal and steel, those materials so central to Americas economy from the Industrial Revolution through much of the post-World War II period. Most of the neighborhoods featured on the list are ritzy suburbs of major cities. To identify Americas richest cities, 24/7 Wall St. reviewed the recently released five-year estimates of median household income from the U.S. Census Bureaus 2021 American Community Survey. Rebecca R. Norris is a full-time freelance writer living in the DC metro area. Arizona: Paradise Valley. Keep reading to learn more about the top 20 richest towns in America. Population: 234,829Rank Last Year: 2 (Down 3)Median Income: $142,374 (2nd best)Unemployment Rate: 4.0% (36th best)More on Fremont: Real Estate|Crime|Cost Of Living. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'homesnacks_com-medrectangle-3','ezslot_1',143,'0','0'])};__ez_fad_position('div-gpt-ad-homesnacks_com-medrectangle-3-0');The general assumption is going to be suburbs of major cities where people live in big homes, away from the grimy, packed downtown areas. Sponsored: Find a Qualified Financial Advisor. Folks here rank 19th for income levels, and 2nd-lowest for number of people living in poverty (3.51%). While you may see people in this city driving around in fancy cars, odds are people you meet there are really comfortable. Now, the median home value in the once entirely agricultural Village of Indian Hill is just over $1.3 million, according to Zillow. But hey -- you could spend your days counting your money, right? Travilah, Maryland. 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. We continue our money train tour of the state as we stop in the city of Overland Park, Kansas. In Americas Richest Town, $500k a Year Is Now Below Average Silicon Valley area towns take three of the top five spots Texas gets two more towns on The typical home value in Palm Beach is just shy of $1.7 million, according to Zillow. The setting of the much-loved Christmas movie "Home Alone," Winnetka is a suburb of Chicago, just north of the city on Lake Michigan. 24/7 Wall Street is a USA TODAY content partner offering financial news and commentary. They have to be doing something right in here. CEOWORLD magazine - Top Stories - C-Suite Lifestyle - RANKED: These Are The 50 Richest Towns To Live In The United States, 2020. Or, you could just see where people like this live and try and get on their good side. Higher levels of education are correlated with higher incomes, and Americas 50 richest cities have significantly more educated populations than the population nationwide. So, you're not as 'rich' in Fremont as you would be in, say, Cary, NC. Its content is produced independently of USA TODAY. 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. Notable figures who have called Scarsdale home include actress Judy Garland, actress Susan Lucci, director and actor Rob Reiner, NPR legal correspondent Nina Totenberg, and former U.S. Attorney for the Southern District of New York Preet Bharara. With one of the most economically tumultuous years coming to a close, its a chance to take stock and look at the financial landscape of American households as 2021 begins. The San Francisco Bay Area which includes Silicon Valley rounds out the top three wealthiest cities, with 276,400 rich individuals, 12,890 of whom are multi-millionaires. Hillsborough is a notoriously hilly neighborhood that is only 17 miles from San Francisco. California Has 12 Of The 50 Richest Towns In America: Bloomberg - Burlingame-Hillsborough, CA - A Bloomberg report identified the 50 richest towns in Here's the top 34 1. Below youll find the table: This is a BETA experience. But money does indeed buy happiness. Saturday, feb 25 23. Highland Park is an affluent suburb of Dallas, just four miles north of downtown. After the analysis was over, we crowned Cary as the richest city in America for 2022. 2015-2023 Chasing Chains, LLC. The wealthiest 1% of Americans hold an amazing 40% of all wealth. You can see their impact on the stats. Great Falls is just outside of Washington, DC and boasts views of the Potomac River. You won't see condos here. Every item on this page was chosen by a Veranda editor. HomeSnacks is reader-supported. You Can Contribute Even More To Your 401(K) In 2023, But Should You? Its located five miles north of Dallas. 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. 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. 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. Launching and succeeding with an innovative, one-of-a-kind business is an exhilarating yet daunting journey. Just ask someone without it. This Fairfield County, Connecticut, town lives up to its name: It was founded in 1641. There's a lot of old money here, too. There are six cities in where the median household income is less than $20,000: (1) Livingston, Alabama; (2) Hawaiian Ocean View, Hawaii; (3) Homer, Bloomberg Surveillance, covering the latest news in finance, economics and investments. 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