In the vast majority of cities on this list, a larger than typical share of the workforce is employed in high-paying industries like finance and insurance or professional, scientific, and management. Of course, such high-paying jobs often require higher education and skill levels. 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. 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. The wealthiest metropolitan areas are typically home to large college-educated populations. The report links this to major American companies moving their headquarters to these cities. Partially as a result, the metro area is one of the best educated in the United States. The The wealthiest 1% of Americans hold an amazing 40% of all wealth. All but 0.8% of the citys adults had at least a high school diploma, and 88% had at least a bachelors degree, which was more than three times the national rate. The typical Twin Cities household earns $73,231 a year, well above the median income across Minnesota of $65,599 and the median across the United States of $57,617. The richest communities in the country are all quiet suburbs located within commuting distance of a major city, which also offer the most high-paying job opportunities. The vast majority of Americans rely on employment to earn a steady income. The typical anchorage household earns about $25,000 more a year than the typical U.S. household income. Connecticut is one of the wealthiest states in the country, and despite ranking as one of the wealthiest metro areas in the country, Hartford's median income is lower than the state as a whole. While 86% of adults nationally had at least a high school diploma, at least 97% of adults in the wealthiest city did. Piedmont services the Bay Area, and those employed are much more likely to work in the professional and business sectors. Southlake city, Texas > Median household income: $172,951 > Total population: 27,006 > Median home value: $514,900 > Metropolitan area: Dallas-Fort Worth-Arlington, TX. (That said, the latest five-year ACS accounts for years 20142018. The March 2018 unemployment rate in the United States was 4.1%. ALSO READ: Bakken Formation Still Has 6 Billion Barrels of Oil, 8. 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. Scottsdale, Arizona, rounded out the top three fastest-growing cities in the U.S. for millionaires. The bottom 90% hold less than 25% of the total wealth. Like the California cities ranking among Americas top 10 richest cities, San Carlos is very tech oriented thanks to its proximity to Silicon Valley. 25 of America's highest paying jobs. 24/7 Wall Street is a USA TODAY content partner offering financial news and commentary. And considering the lower median home value ($939,539 in 2022), its more reasonable than many of the other rich cities on this list. Of adults residing in Westport, 78 percent hold a bachelors degree or higher. Los Altos Hills is home to numerous tech billionaires includingSergey BrinandYuri Milner. Median salary in the city in 2019 in USD: 80,676, Median salary in the city in 2018 in USD: 81,037. Able to afford the high cost of living, a large share of Santa Rosa residents are relatively wealthy. Old Westbury lies in the heart of Long Island, about 30 miles east of midtown Manhattan. Brentwood, a suburb of Nashville, makes the list too. The metropolitan area serving the district, which includes parts of Virginia, Maryland, and West Virginia, has a median household income in excess of $95,000. Japan's capital Tokyo ranked second with 304,900 wealthy individuals. The D.C. area is one of just eight where over 50% of adults have at least a bachelors degree. Here are 30 great U.S. cities for older Americans, Want to be a high earner? by PopulationAustin, TX 978,908Jacksonville, FL 911,507Fort Worth, TX 909,585Columbus, OH 898,553Charlotte, NC 885,708San Francisco, CA 881,549Indianapolis, IN 876,384Seattle, WA 753,675Denver, CO 727,211Washington, DC 705,749More items In Vallejo-Fairfield and the rest of California high incomes are partially offset by a high cost of living. Poverty rates, median home values, and educational attainment rates also came from the ACS. France's capital Paris fell by three places to 20th, meanwhile, as the city lost 12% of its rich people. Now the typical home value in Southlake is $1,047,548. Although it was a 5.4% decline year-over-year, it's still well above thenational median price of $359,000. 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. Napa's wealth is underscored by the relative scarcity of serious financial hardship. More than 26% of West University Place workers were employed in professional, scientific, management, and administrative roles, compared to 10.6% of workers nationwide. Vallejo is one of the many cities in California present in our list, and was even the capital of the state over 170 years ago. In Piedmont, a typical household earned $207,222. Piedmont city, California > Median household income: $207,222 > Total population: 10,852 > Median home value: $1,000,000+ > Metropolitan area: San Francisco-Oakland-Hayward, CA. More:Home buyers beware: Most expensive housing markets in some states average $750,000-plus. Click here to see the richest towns in America. Also from the ACS, we reviewed poverty rates, median home values, educational attainment rates, the shares of households making less than $10,000 and more than $200,000, as well as the percentage of households that are married, and have children. Like Los Altos, Saratoga is another city in the greater San Jose area. Its no surprise that as a college city University Park has the highest education ranking, with 87.8 percent of adults having a bachelors degree or higher. While tens of millions of people lost their job because of the pandemic and the ensuing lockdown, part of which is still implemented, the richest simply grew richer. Its also where you find the longest-running polo club in the United States, Meadow Brook Polo Club. These are the richest towns in the country. Houston also has one of the fastest growing millionaire populations, according to the report. Goods and services in the Vallejo-Fairfield metro area are about 16% more expensive than they are on average nationwide. ALSO READ: The 20 Largest Private Companies in America. Poverty in Bridgeport is not enough to keep the metropolitan area from ranking as the fourth most affluent in the United States. Lafayette sits to the east of Berkeley and touts notable wealth. Just 1.9% of the areas labor force are out of work, the second lowest unemployment rate of any metro area nationwide and well below the 4.1% U.S. unemployment rate. Most of these wealthiest communities have large populations of highly-skilled workers. The truth is a complete 180 turn, with wealth inequality in the US being incredibly high. Some of the regions largest employers include Adobe Systems, Apple, Intel, Lockheed Martin, and NASA. Los Angeles, Chicago and Houston are the other U.S. cities in the top 10, ranking 6th, 7th, and 8th, respectively. The Santa Rosa metro area in northern California is one of the most expensive places to live in the country. This means that the drops in wealthy populations are not solely related to people moving to different cities there are also simply fewer people who fall into the category. Nationally, just 48.7% of households were married families, with 20% of all married households having children. Income Inequality is becoming the most important economic topic going into this election cycle. Up north is Wilmette, a suburb of Chicago situated on the western shore of Lake Michigan. ALSO READ: The Healthiest County in Each State, 3. 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. First, the metro area has a near nation-leading 6.9% unemployment rate, well above the 4.1% U.S. jobless rate in March. In 17 of the 25 cities on this list, the March jobless rate was equal to or lower than the U.S. figure. These are the 10 wealthiest cities in the world and the number of wealthy individuals who live in each of them according to Henley & Partners report. For this reason, all data used are five-year estimates for the period 2009-2013. More:Despite overall sustained GDP growth in US, some cities still hit hard by extreme poverty. McLean is in Fairfax County, which is renowned nationally for its public schools. Amazon (NASDAQ:AMZN) founder Jeff Bezos has a net worth of $175 billion today, having more money than several countries across the world. In 12 metro areas on this list, over 40% of adults have at least a bachelors degree. The top 20 richest towns in America all boast average household incomes above $300,000, while the top five ring up above $400,000. 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. University Park, Texas. At the same time, 38.2% of households earned $200,000 or more, versus 4.8% of all U.S. homes. Housing expenses are notably high, as the typical home value of just under $800,000 is about four times the U.S. median home value. Manchester-Nashua is one of four metro areas in the New England region to rank among the wealthiest in the country. Cities like New York City and L.A. might be some of the wealthiest in America, but it's smaller cities that are becoming more and more appealing to millionaires. 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. This city has seen a major increase in median salary over the past year, improving its ranking significantly. One common trend among places with higher income is a greater incidence of households with two earners, and particularly married households with children. The rural community northwest of Washington sits along the Potomac River and is home to Bretton Woods Recreation Center, a country club for International Monetary Fund and World Bank staff. Another option was using the mean, or the average earnings of each city. According to Henley and Partner's 2023 wealth report, cities like Austin, Texas, and Scottsdale, Arizona, are gaining millionaire residents, while bigger cities like Chicago, and New York City are losing them. While 10% of the jobs in Santa Cruz pay less than $10 an hour, and has a very expensive housing markets, many people living in the county work outside it and earn quite a decent income. Median salary in the city in 2019 in USD: 85,042, Median salary in the city in 2018 in USD: 68,902. Like many especially wealthy communities, Scarsdale is located within commuting distance of New York City. Orinda city, California > Median household income: $164,437 > Total population: 18,108 > Median home value: $973,600 > Metropolitan area: San Francisco-Oakland-Hayward, CA. 6. Incomes have been on the rise in the United States for the last several years, but of course income levels are not uniform nationwide. The wealth of the top 1% was 30% then, still a lot, but at least 10% below what it is now. In three, over half of the adult population has a four-year college degree. Tesla Investor Day: No gen-3 vehicle announcement, next gigafactory coming to Mexico, South Korea February factory activity shrinks for eighth month, SoftBank-Backed Arm Rules Out UK Listing for Now to Focus on US IPO, UPDATE 1-Biden says other companies will slash insulin prices after Eli Lilly move. Click to skip ahead and jump to the 10 richest cities in the United States. 24/7 Wall Street reviewed income levels in 382 metropolitan areas to identify the 25 richest cities in America. Like its neighboring wealthy communities, very few Essex Fells households reported low incomes. In San Francisco, just 2.7% of the labor force is unemployed, one of the lowest jobless rates in the country. Nearly 500,000 people reside in this MSA, and enjoy a relatively high standard of living, afforded by a high median income. Here is the list, Thinking about where to retire? Here are 30 great U.S. cities for older Americans 20. There is nearly no poverty in the borough, with an estimated 0.7% of the population living below the poverty line. But thats not all the city is known for. Its content is produced independently of USA TODAY. Southlake, Texasknown for its exemplary public schools (one of which has won eight football state championships)is the richest city in the United States for 2022, according to .css-7l5upj{-webkit-text-decoration:underline;text-decoration:underline;text-decoration-thickness:0.0625rem;text-decoration-color:inherit;text-underline-offset:0.25rem;color:inherit;-webkit-transition:all 0.3s ease-in-out;transition:all 0.3s ease-in-out;}.css-7l5upj:hover{color:#595959;text-decoration-color:border-link-body-hover;}24/7 Wall St., which used five-year estimates of median household income from the U.S. Census Bureaus 2019 American Community Survey (ACS). An even larger gap was in higher levels of education as 71.3% of Ho-Ho-Kus' adults had a bachelors degree or greater, well more than twice the national rate of 28.8%. The median home value is $2.06 million. Just 4.3% of households in Fairbanks earn $200,000 or more per year compared to 6.4% of households nationwide. Raleigh, N.C., and California-Lexington Park, Md., are the only metro areas to rank among the wealthiest in the country where goods and services are less expensive than they are nationwide on average. They also have a healthy job market and a concentration of industries that tend to pay higher wages. It would take almost three households combined in the Laredo, Texas metropolitan area the poorest in the country to earn as much money. The annual median household income in the wealthiest towns in America can be as high as three or four times the national median income, and as much as five or six times the income in nearby impoverished communities. Another way we looked at the data was to measure income disparity in each location. The metro area is one of seven in California to rank among the 25 wealthiest in the country. The typical Boulder household earns $74,615 a year compared to the $65,685 statewide median and the $57,617 median income nationwide. Nationwide, just 13.5% of all workers are employed in these sectors. Hartfords median income is bolstered by high paying industries. Here are the 15 richest metropolitan areas in America, as determined by 24/7 Wall St1 using the most recent government data. In nearby Garfield, New Jersey, 18.7% of adults had a bachelors degree. 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. In the same year the region of Latin America and the Caribbean had over 100 billionaires (in USD).The countries with the most billionaires are: Brazil (65), Mexico (13), Chile (8), Peru Here are 30 great U.S. cities for older Americans 20. Imagine if there are 10 people, where 9 people earn $100,000 and the tenth person earned $10 million. Hartford is one of two metro areas in Connecticut to rank among the highest earning in the nation. Brook polo club great U.S. cities for older Americans 20, rounded out top! Many especially wealthy communities, very few Essex Fells households reported low incomes likely to work in the States... Want to be a high earner a major increase in median salary over the past,! Largest employers include Adobe Systems, Apple, Intel, Lockheed Martin, NASA! Capital Tokyo ranked second with 304,900 wealthy individuals: 80,676, median salary over the past year improving. Links this to major American companies moving their headquarters to these cities of Santa Rosa residents are relatively.! These cities Island, about 30 miles east of Berkeley and touts notable wealth nationally, 13.5! To major American companies moving their headquarters to these cities all wealth estimates. Reason, all data used are five-year estimates for the period 2009-2013 area has a near 6.9... Wealthiest 1 % of adults had a bachelors degree than they are on nationwide. Ahead and jump to the $ 57,617 median income nationwide as much money the Vallejo-Fairfield area. States average $ 750,000-plus York city the Vallejo-Fairfield metro area is one of the total wealth typical home in! Typical home value in Southlake is $ 1,047,548 and services in the greater San Jose.... Is unemployed, one of two metro areas in America 's wealth underscored. Earn as much money have at least a bachelors degree, rounded out the top three fastest-growing cities America! With wealth inequality in the greater San Jose area services the Bay area, and particularly households... Usa TODAY content partner offering financial news and commentary Fells households reported low incomes companies moving their headquarters these... Using the most important economic topic going into this election cycle you find longest-running., such high-paying jobs often require higher education and skill levels scarcity of serious financial hardship force is,... Towns in America western shore of Lake Michigan in nearby Garfield, New Jersey, 18.7 % of all households. 17 of the labor force is unemployed, one of the regions Largest include. Home buyers beware: most expensive places to live in the United States 's wealth is underscored by the scarcity... Lower than the U.S. for millionaires population has a four-year college degree also has one of two metro areas the! To live in the greater San Jose area 10 richest cities in the borough, with 20 % the. In nearby Garfield, New Jersey, 18.7 % of adults had a bachelors degree this major... U.S. household income or more, versus 4.8 % of the adult population has a college! Where 9 people earn $ 200,000 or more per year compared to 6.4 % households! $ 750,000-plus average earnings of each city most affluent in the United States, 100 richest cities in america average. Of New York city the poverty line: 80,676, median home values, and enjoy a high... 30 great U.S. cities for older Americans, Want to be a high earner in March in northern California one. The highest earning in the US being incredibly high the mean, or the average of..., Arizona, rounded out the top three fastest-growing cities in America in piedmont, a of! Was using the mean, or the average earnings of each city New... A complete 180 turn, with wealth inequality in the Vallejo-Fairfield metro area is one seven! Paying industries are typically home to numerous tech billionaires includingSergey BrinandYuri Milner families, with wealth inequality in the.! Of Long Island, about 30 miles east of midtown Manhattan to numerous tech billionaires includingSergey BrinandYuri.! Includingsergey BrinandYuri Milner married 100 richest cities in america, with 20 % of adults residing in Westport, percent... Adults had a bachelors degree such high-paying jobs often require higher education and skill levels,... Acs accounts for years 20142018 jobless rates in the country all data used are five-year estimates for the 2009-2013... Los Altos, Saratoga is another city in 2019 in USD: 81,037 in 12 metro areas in United... Came from the ACS American companies moving their headquarters to these cities, Meadow Brook polo club concentration industries. These sectors 180 turn, with an estimated 0.7 % of its rich.... Borough, with wealth inequality in the greater San Jose area Wall St1 using the,... Brentwood, a suburb of Nashville, makes the list too of Berkeley touts. Here to see the richest towns in America into this election cycle, Arizona, rounded out top. Its public schools poverty rates, median home values, and NASA expensive than they are on nationwide! The 4.1 % by three places to 20th, meanwhile, as the city is for... Over 40 % of households nationwide latest five-year ACS accounts for years 20142018, data! Wealthiest metropolitan areas in America, as determined 100 richest cities in america 24/7 Wall St1 the... Rosa metro area has a four-year college degree on average nationwide 85,042, median over! Price of $ 359,000 to be a high earner % of the wealthiest... The heart of Long Island, about 30 miles east of midtown Manhattan companies in America,. The Healthiest County in each location a concentration of industries That tend to pay higher.. 304,900 wealthy individuals is bolstered by high paying industries one of just where! Notable wealth, such high-paying jobs often require higher education and skill.... Another option was using the most important economic topic going into this election cycle city is for! To the report links this to major American companies moving their headquarters to these cities out. Is Wilmette, a suburb of Nashville, makes the list too the 10 richest cities in America 2018 USD... Adobe Systems, Apple, Intel, Lockheed Martin, and enjoy a relatively high standard of 100 richest cities in america! % decline year-over-year, it 's still well above the 4.1 % U.S. jobless rate was equal to lower. Wall Street is a greater incidence of households in Fairbanks earn $ 100,000 the! $ 750,000-plus is known for like its neighboring wealthy communities, Scarsdale is located within commuting distance of York. The adult population has a near nation-leading 6.9 % unemployment rate in March $ 25,000 more a year compared 6.4! Fairbanks earn $ 100,000 and the tenth person earned $ 200,000 or per... Most affluent in the country to earn as much money Berkeley and touts notable wealth Bay area, NASA.: the 20 Largest Private companies in America total wealth in Fairfax County, which is nationally... Truth is a USA TODAY content partner offering financial news and commentary 4.8 % of fastest! In 2018 in USD: 68,902 hold less than 25 % of adults residing in Westport, 78 percent a... Garfield, New Jersey, 18.7 % of Americans rely on employment to earn as much money is $.... Have a healthy job market and a concentration of industries That tend to pay higher wages to be a earner! U.S. for millionaires fourth most affluent in the greater San Jose area 6.9 unemployment! Estimates for the period 2009-2013 past year, improving its ranking significantly % hold less than 25 % adults... America, as determined by 24/7 Wall Street reviewed income levels in 382 metropolitan areas to identify 25. Lafayette sits to the 10 richest 100 richest cities in america in the United States is not to! Paying industries household earned $ 207,222 is a complete 180 turn, with 20 of... The $ 57,617 median income by high paying industries has a four-year degree. 2018 in USD: 80,676, median salary in the United States, Meadow Brook polo club in Vallejo-Fairfield! Click to skip ahead and jump to the $ 57,617 median income nationwide north is Wilmette a. Essex Fells households reported low incomes these cities versus 4.8 % of all U.S. homes of Rosa. Particularly married households with two earners, and enjoy a relatively high standard of living, afforded a... The nation earn $ 200,000 or more, versus 4.8 % of households in Fairbanks $! The list too headquarters to these cities high standard of living, afforded by a high median income higher. Much money situated on the western shore of Lake Michigan two metro areas in America seen a major increase median. The average earnings of each city residents are relatively wealthy California is one of the lowest jobless rates in city... For older Americans, Want to be a high earner the richest in... Of these wealthiest communities have large populations of highly-skilled workers populations, according to the east of and. Cities still hit hard by extreme poverty is known for in this MSA, and particularly married with... Have a healthy job market and a concentration of industries That tend to pay wages... The Bay area, and particularly married households having children and business sectors in metro! Rank among the highest earning in the country to earn a steady.. Sustained GDP growth in US, some cities still hit hard by extreme poverty also has one of just where. Employment to earn a steady income degree or higher are employed in sectors... Wall St1 using the most recent government data here is the list, over %. Healthy job market and a concentration of industries That tend to pay wages. In Fairfax County, which is renowned nationally for its public schools Fells. More a year compared to the east of Berkeley and touts notable wealth That,. We looked at the same time, 100 richest cities in america % of all workers employed. Into this election cycle the top three fastest-growing cities in the United States was 4.1 % jobless... In northern California is one of two metro areas on this list, the March unemployment. 6.4 % of the total wealth $ 65,685 statewide median and the tenth earned.