With a median income of $123,220, Buckner is the wealthiest place in Kentucky. 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. Median household income: $204,145 (state: $56,213), Median home value: $1,505,300 (state: $209,600). Initially a mining camp in the 19th century, Montana City has since developed into a wealthy suburb of approximately 2,800 residents. The best healthcare stocks offer investors a defensive hedge in an uncertain market. Mississippi: Sherwood-Audubon Area, Jackson. Median household income: $222,115 (state: $65,323), Poverty rate: 3.3% (state: 14.6%), Median home value: $954,400 (state: $302,200). Bethany is the most affluent neighborhood in Oregon. 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. Median homes prices top the U.S. median by more than $159,000. Hefty income taxes and high property taxes make the Empire State one of Kiplinger's 10 least tax-friendly states. 27 / 52. North Star, Delaware, located about 10 miles west of Wilmington and 35 miles southwest of Philadelphia, has a median household income of $141,533, more than double the statewide median of $65,627. 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. But the state has a 4.95% flat income tax system, property taxes are low and sales taxes are average. Grant Suneson, Evan Comen and Samuel Stebbins. The town also has a poverty rate of 4.1%, less than a quarter of the state poverty rate which is 17.8%. 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). Tiny Elko, Nevada, owes its high concentration of millionaires to its status as the capital of Nevada's gold mining industry. In Oak Hill, some 78.2% of adults have at least a bachelor's degree -- about three times the 26.6% state college attainment rate and by far the most of any small city or town in Tennessee. So it should come as no surprise that Breckenridge would make the cut. Looking at the poorest cities in the U.S., there are certainly some geographic patterns that emerge. 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. By Dan Burrows West Palm Beach, Florida. As we shall see, another area near Laconia makes this list of small towns with a high percentage of millionaires. Each has an average household income of over $400,000. It's easy to see why Glenwood Springs is popular with millionaires. For the fourth straight year, Atherton toppedBloomberg'sRichestPlaces annual index. With pristine beaches, lush forests, soaring mountains and relatively few people, Kapaa (and the surrounding area) is an ideal place for a millionaire's tropical island nest. Greenville is a relatively short commute to New York City, providing its residents access to the many high-paying jobs. One characteristic these towns have in common is a high level of education. Raleigh-Durham International Airport. Hot springs, rafting, kayaking, fishing, hiking, mountain biking and golf, among many other activities, make Glenwood Springs a year-round destination. Unfortunately, some of the other state and local taxes aren't quite so taxpayer-friendly. All four have average incomes upwards of $400,000. It is worth noting that the data used for this story represents a time before the coronavirus pandemic. When you purchase through links on our site, we may earn an affiliate commission. This city in the oil-rich Bakken Formation soon found itself home to fracking millionaires. 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? Higher prices have been a major headache for investors, but these best inflation-proof stocks could help ease the impact. AI stocks have been bloodied up in recent months, but the technology's relentlessly growing importance should see the sun shine on them again. Connecticut's median annual household of $76,106 is about $26,000 more than the median nationwide. Incomes tend to rise with educational attainment, and not only is Cumberland Hill the wealthiest place in the state, it is also the best educated. 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. Warren Buffett Stocks Ranked: The Berkshire Hathaway Portfolio. Major employers in the area include Amazon, Boeing, and Microsoft. 9. Median income is more than $15,000 above the national level. NEW ALBANY, OH A Bloomberg report identified the 100 richest towns in America, and three Ohio cities made the cut. Loudoun County is the richest county in the USA, with an estimated average household income of $ 117,876. 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. Billionaires say to be successful, do these simple things every day. Avondale Estates is a small city of approximately 3,100 residents located seven miles east of downtown Atlanta. 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. Atherton, the upscale community south of San Francisco, has been home to the former chairman of Google Eric Schmidt and brokerage boss Charles Schwab. Places like Dickinson, located in the oil-rich Bakken Formation, were mining millionaires. A wealthy suburb of the Omaha metro area, Papillion has grown from approximately 1,000 residents in 1950 to more than 20,000 today. With a median home value of $316,500, the typical home in the town has a median value more than double the median home value across the state as a whole. In Tega Cay, less than 1% of residents live below the poverty line. View Slideshow. A popular New England vacation destination, Hampton is home to some of the most expensive houses in New Hampshire. Fairfax County, which includes the independent cities of Fairfax City and Falls Church, remains one of the . Heres how it works. 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. He's also written for Esquire magazine's Dubious Achievements Awards. 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.". By: News 12 Staff. Within five years, Tulsa had grown from a rural crossroads town in the former Indian Territory into a boomtown with more than Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016. Published 17 January 23. places to live Buzz60's Tony Spitz has the details. The Top 10 CHEAPEST Cities to live in the United States for 2020. Only 4.5% of the community's families fall below the poverty line, and with a mean household income of $339,883, residents can boast of being some of the wealthiest in the entire state of Illinois. Median household income: $93,364 (state: $51,424), Median home value: $205,100 (state: $130,900). Prince William County, Virginia $106,200 These places aren't in the best states to move to in the USA, but a few are some of the wor. Chevy Chase Village, MD (pop. Building on this momentum, Duke Energy Corporation and the state's rural electric . The Phoenix suburb has a median home value of just over $1.5 million -- by far the highest of any small city or town in the state. Austin, Texas. Although median income in the micro area is roughly $12,000 above than the national level, median home value beats the U.S. median by a whopping $280,900. Centerton is situated next to Bentonville, the home to Walmart's corporate offices and its roughly 17,000 employees. Glencoe - $308,625. We added hundreds of new lists - see our top 101 city lists. Many residents likely commute to high-paying jobs in nearby Birmingham. 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 county seat of Loudoun is in Leesburg, where most administration activities take place. Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts. Looking to buy a car? Christian. Around 276,400 millionaires, 623 centimillionaires and 62 billionaires live in the San Francisco Bay area, which includes Silicon Valley. The average household income of people in this town is calculated as $450,696. 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. Median household income: $214,477 (state: $59,570), Poverty rate: 4.3% (state: 15.5%), Median home value: $1,230,200 (state: $161,700). Atherton, CA- Average household income - $450,696. 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. 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. More than 8,000 people call Upper Saddle River in Bergen County home. The city's great appeal is no secret. 30.0. The typical home in University Park is worth $1.2 million, compared to the median home value of $161,700 statewide. At the same time, the town offers easy access to several major cities. Oxnard-Thousand Oaks-Ventura, California. The median home value in Hidden Valley is $196,800, more than $60,000 higher than the median home value in Indiana as a whole. This helps qualify Highland residents for the many high paying jobs available in the area, such as those in higher education, health care, and tech. Atherton isn't the only town touting notable wealth, though. (adsbygoogle = window.adsbygoogle || []).push({}); With an average household income of more than $525,000, Atherton, California is the richest town in the United States, thats according to a Bloomberg report. Dickinson's number and percentage of millionaire households declined year-over-year. (STACKER) - In April 1934, the U.S. recorded its highest wind speed ever, a gust of 231 miles per hour at Mount Washington Observatory in New Hampshire. 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. The Aloha State is known for its high cost of living and a mixed picture when it comes to taxes (opens in new tab). Published 6 January 23. real estate Does it really matter if Aunt Jemima and Uncle Ben get retired? Property taxes are modest, but sales taxes lean high (opens in new tab). Published 24 January 23. recession Scarsdale, NYsales price of $1.2 million, Scarsdale is the richest town on the East Coast. The Hudson Historic District is listed with the National Register of Historic Places. He remains on the Walmart board of directors, and is also the CEO of his own company, Arvest Bank. Median household income: $176,528 (state: $68,411), Poverty rate: 0.3% (state: 10.1%), Median home value: $619,000 (state: $211,800). 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. Analysts say a tough 2022 has left these small-cap stocks priced for outperformance in the new year and beyond. All 30 Dow Stocks Ranked: The Pros Weigh In. "Oak Harbor is usually regarded as the poorer but more developed stepsister when compared to other Whidbey municipalities," notes the Whidbey News-Times. Genesee is a small Census designated place located less than 20 miles west of Denver. 24/7 Wall Street is a USA TODAY content partner offering financial news and commentary. A 35-minute train ride from New York City, the town sports quaint shops and top-rated schools . The area's population grew by 34.5% from 2013 to 2018, compared to the U.S. population growth of 3.6%. Tiny Easton, on the Eastern Shore of the Chesapeake Bay, prides itself on its out-of-the-way feel, with country farms mixing with lavish waterfront estates. Spring Creek is a small suburb of approximately 14,000 residents in Elko County in northeast Nevada. Everything costs more in Juneau. 50 Top Stock Picks That Billionaires Love. For context, the typical American home is worth about $205,000. Less than 2% of the town's 5,500 residents live below the poverty line, a fraction of the state poverty rate. Centerton is the fastest growing small city or town in Arkansas and one of the fastest growing places in the entire country. This island off the coast of Cape Cod the Census Bureau classifies the entire island as part of the Vineyard Haven micro area is one of the most desirable summer vacation spots in the Northeast and has long been a favorite of the rich, the famous and the powerful. But as anyone who works in the oil patch knows, booms and busts are an integral part of the industry. 10. Atherton is a small neighborhood of about 7,000 people and it is located in the heart of Silicon Valley. The Claremont-Lebanon micro area abuts Laconia and has plenty of its own attractions, as well. Educational attainment is one of the largest determinants of income. 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? His wealth has rocketed to $10.9 billion from $4.6 billion in 2020. 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. 12. Bloomberg created and ordered this list by annual household income. Source: Bloomberg. Glencoe, IL. . Accessibility to a city center is typically a key characteristic of the cities on the list. In Los Alamos, most households earn over $100,000 a year. 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. You might think Palm Beach would easily . Across Missouri, 28.6% of adults have a four-year college education. 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. Too cold outdoors? Great Falls is the richest town in Virginia and one of the richest in the entire country. It's a good thing, too, considering the high price of homes in the area. Here are . Find the full list of America's 100 Richest Places on Bloomberg. Indeed, it's one of the more expensive cities in the U.S. Chalk it up to the remote location of Alaska's capital, which is tucked away in the southeast corner of the state hard against the Canadian border. A Division of NBC Universal, A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. Sign up here, Median household income: $203,194 (state: $54,533), Poverty rate: 2.5% (state: 14.5%), Median home value: $494,600 (state: $140,000). Destrehan is a Census-designated place with 11,000 residents, located about 20 miles west of downtown New Orleans. There are six cities in where the median household income is less than $20,000: (1) Livingston . Of all adults in the area, 38% have a bachelor's degree or higher, compared to 33.3% of adults statewide. Today it has some of the most expensive homes in North Carolina. 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. The Cannon River runs through town, and several parks and walking paths provide access to fishing, canoeing and kayaking. A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. : 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. Laconia, New Hampshire. 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. High-end restaurants, plush lodges and spas are just some of the ways that millionaires can pamper themselves. Hard work is embedded in American culture. Batten the hatches for continued market tumult without eating high fees with these six Vanguard ETFs and mutual funds. Less than 1% of people in Robins, Iowa, live below the poverty line, and more than 22% of households in the town earn more than $200,000 annually. The net impact of accounting for differences in the purchasing power of a dollar in . Top 100 cities with highest median household income Previous toplist Next toplist . Jenks, Oklahoma, is located just south of Tulsa, so residents have access to the many high-paying jobs in the bigger city, in sectors like health care and aerospace engineering. Boating, fishing, snorkeling, scuba diving and lazing on the beach are just some of Key West's draws. Median household income: $170,952 (state: $53,560), Poverty rate: 1.3% (state: 14.2%), Median home value: $629,200 (state: $151,600). And when demand finally started to improve, the COVID-19 pandemic slammed the energy sector. The typical Winchester home is worth $893,700, more than double the median home value of $366,800 in Massachusetts. (It's an in-state draw for all the millionaires from the Stamford area, too. ", 91 Top Dividend Stocks From Around the World. Lexington has become one of the wealthiest cities in America, with the typical home costing $1,361,431 in 2022, according to Zillow. America's 100 richest towns have been revealed by Bloomberg's annual index, with the highest-paid town averaging an income of over $500,000. By Louis Navellier For the second year since Bloomberg started to compile the Richest 100, the nation's top spot is Atherton, California. 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. The typical household earns $176,528 a year, more than twice the $68,411 state median household income and nearly three times the $60,293 national figure. Port Royal, Naples, Florida. A million bucks in liquid assets isn't what it used to be, but it's still really hard to amass. Easton's proximity to the beach, abundance of parks and good schools make for an idyllic small-town experience for residents. 2020-10-14T13:25:00Z . A Bloomberg report is out on the 100 richest towns in America, and four towns in Connecticut made the list. Kip ETF 20: The Best Cheap ETFs You Can Buy. He has written for The Wall Street Journal, Bloomberg, Consumer Reports, Senior Executive and Boston magazine, and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among other publications. Feb 25, 2020, 3:05pm Updated on Feb 25, 2020. However, when it comes to the highest concentration of . Median household income: $74,172 (state: $43,567), Poverty rate: 3.8% (state: 20.8%), Median home value: $177,900 (state: $114,500). In fact, every season challenges the next for which is more beautiful.". Median household income: $80,513. Median household income: $131,354 (state: $63,473), Poverty rate: 1.5% (state: 10.9%), Median home value: $293,800 (state: $185,000). 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. Concord also benefits from being within easy reach of Laconia and the state's famed Lakes Region, as noted earlier. With a median household income of $156,205, Duvall is the wealthiest small city or town in the state. The sun-kissed island and nearby neighbors offer a tropical paradise in the good ol' U.S. of A. People with higher educational attainment are more likely to hold higher-paying jobs. 6. There are obviously more than a few high rollers in this area as the median household income is $121,149 and housing isn't much better at a median cost of $479,700. Kiplinger is part of Future plc, an international media group and leading digital publisher. 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. Atherton. Large concentrations of high-net-worth households are found in surprising locales across the U.S. 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). Median household income: $93,194 (state: $52,559), Poverty rate: 2.4% (state: 13.7%), Median home value: $331,900 (state: $219,600). To compiler their 2020 list of the 50 richest places, Bloomberg "evaluated . The typical Spring Creek home is worth $225,400, less than the $242,400 state median home value. 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. Concord also is a major distribution, industrial and transportation hub. Cost of living: 21.1% above U.S. average.

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