Educational attainment is one of the largest determinants of income. A suburb of Kansas City, Fairway, like many small cities and towns on this list, is well within commuting distance of employment opportunities in a major city. 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. West Virginia's median household income is one of the lowest among states, at just under $45,000. By Jeff Reeves "Coupeville and Langley have higher incomes, swankier homes and older residents." With its covered bridges, forests and rivers, the scenery is gorgeous. Demand for oil is gradually coming back, but it is by no means taking off. Long work hours means more stress and less family time. Greenwich and Darien, Connecticut. 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. Loudoun County is located in the Commonwealth Virginia, with a population of 375,000 people. And the long, snowy winters are perfect for the numerous ski resorts in the vicinity of Truckee and Grass Valley. The Faribault-Northfield area is so desirable that Kiplinger has named it a great place to retire. 1 city on the list is . Its content is produced independently of USA TODAY. The wealthiest town in the state, Destrehan's median household income of $92,052 . Check out: The best credit cards of 2020 could earn you over $1,000 in 5 years, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. To clarify: That means they have at least $1 million in investable assets. More than half of the 100 richest cities in the United States were in the New York City area or California. The area's population grew by 34.5% from 2013 to 2018, compared to the U.S. population growth of 3.6%. Destrehan is a Census-designated place with 11,000 residents, located about 20 miles west of downtown New Orleans. Greenville is a relatively short commute to New York City, providing its residents access to the many high-paying jobs. In Tega Cay, less than 1% of residents live below the poverty line. Reply. Millionaires in America 2020: All 50 States Ranked. 9. Median household income: $213,801 (state: $79,363), Poverty rate: 3.9% (state: 10.4%), Median home value: $644,900 (state: $327,900). Combined, the median household income is just over $171,000. The surrounding area is home to a number of tech companies, including Intel and Tektronix and textile companies like Columbia Sportswear and Nike. By Dan Burrows So it should come as no surprise that Breckenridge would make the cut. On the plus side, Alaska is one of the most tax-friendly states in the union (opens in new tab). And, hang in there until you're 100 and your income taxes are waived altogether. Estimates of millionaire households provided by Phoenix Marketing International. Of all small cities and towns in Kansas, Fairway is the only one where most homes are worth more than $300,000. Grant Suneson, Evan Comen and Samuel Stebbins. 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. 13 Best Vanguard Funds for the Next Bull Market. The micro area even holds a charming Swiss-themed village. People with higher educational attainment are more likely to hold higher-paying jobs. ETFs Hard work is embedded in American culture. Fully 8.7% of Heber's 9,567 households have at least $1 million in investable assets. You might think Palm Beach would easily . . They have new homes, drive new cars, and have bright futures. In Avondale Estates, 74.8% of adults have at least a bachelor's degree, the largest share of any city in Georgia and more than twice the state college attainment rate of 30.7%. Median household income: $80,666 (state: $44,921), Poverty rate: 4.1% (state: 17.8%), Median home value: $220,100 (state: $115,000). High-end restaurants, plush lodges and spas are just some of the ways that millionaires can pamper themselves. Heber boasts world-class recreational activities for the wealthy and regular Joes alike. Median household income: $92,052 (state: $47,942), Poverty rate: 3.6% (state: 19.4%), Median home value: $234,500 (state: $157,800). The net impact of accounting for differences in the purchasing power of a dollar in . Atherton, California tops the list for the fourth . Median household income: $72,537 (state: $55,425), Poverty rate: 10.6% (state: 12.5%), Median home value: $218,800 (state: $184,500). Advertisement - Continue Reading Below. 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. A 35-minute train ride from New York City, the town sports quaint shops and top-rated schools . As a bonus, gun buyers aren't reliant on hit-and-miss sales or once-a-year clearance events, to save money. Fairfield County towns have made yet another list of the richest places in the U.S. Washington, D.C . The aforementioned Park City, which hosts Robert Redford's Sundance Film Festival, also boasts several world-class ski resorts. Elko's fortunes rise and fall with the price of gold, so one would hope that its millionaire population is properly diversified. Indeed, if Nevada were a country, it would be the world's fourth-largest producer of gold behind China, Australia and Russia, according to the U.S. Geological Survey. South Carolina has one of the higher poverty rates among states, at 16%. Walmart is the largest employer in Benton County, where Centerton is located. Each has an average household income of over $400,000. And don't forget the incomparable sunsets. Median household income: $106,285 (state: $54,325), Poverty rate: 3.7% (state: 14.1%), Median home value: $196,800 (state: $135,400). 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. It became the first and only neighborhood in America to top the half-million-dollar mark. Bloomfield Hills is the wealthiest place in Michigan. As a result, Hanover buzzes with a diverse mix of art, culture and outdoor sporting and recreational activities year-round. Median income is more than $15,000 above the national level. All 30 Dow Stocks Ranked: The Pros Weigh In. Vineyard Haven is a town on Martha's Vineyard. 5). In most of these cities, people have it made, financially. 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. 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. Seattle-Tacoma-Bellevue. We only considered areas with populations between 1,000 and 25,000. Not only is there no state income tax, but the government actually pays residents an annual stipend. The Evergreen State makes the cut because it doesn't have an income tax. This is followed by Los Angeles with 52 billionaires, and San Francisco and Chicago, who each have 44 billionaires. Percentage of global population: 1.2%. The typical home in University Park is worth $1.2 million, compared to the median home value of $161,700 statewide. Given the school's very highly selective . It is worth noting that the data used for this story represents a time before the coronavirus pandemic. Dickinson's number and percentage of millionaire households declined year-over-year. Top employers in Elko County include the Elko County School District and West Wendover Casinos. The Top 10 CHEAPEST Cities to live in the United States for 2020. Within five years, Tulsa had grown from a rural crossroads town in the former Indian Territory into a boomtown with more than In some cases, these locations benefit from being popular recreational areas or havens for wealthy retirees. Even in one of the wealthiest states, Greenville stands out as especially affluent. Source: Bloomberg. Over the last five years, the number of people living Ocean Pointe jumped by 44%. With only 3.53% of residents out of work, and the average household bringing in $79,133 a year, Utah is quite the rich place. "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. 27 / 52. 12 Cheapest Small Towns in America 2020. 11 March 2007: The tables provide GDP figures for cities and their surrounding urban areas in 2020. Gabe Kaminsky of the Washington Examiner reports an ethic watchdog's critique of high-profile congressional Democrats known as "The Squad." Democratic members of the "Squad" in Congress continue to raise ethics concerns and red flags among watchdog groups, who have often urged government bodies to investigate their alleged misconduct.The latest situation earning the ire of watchdogs On the downside, Minnesota is not a friendly state (opens in new tab) when it comes to taxes. This time the list is from Bloomberg. 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. Austin, Texas. Mississippi: Sherwood-Audubon Area, Jackson. As residents like to point out, few towns have a groomed ski area right in their downtown that is accessible to all. Published 24 January 23. recession Median household income: $176,528 (state: $68,411), Poverty rate: 0.3% (state: 10.1%), Median home value: $619,000 (state: $211,800). Spring Creek is a small suburb of approximately 14,000 residents in Elko County in northeast Nevada. But for more modest incomes, the impact is far milder, and property taxes are low (opens in new tab). The 150 richest cities in the world by GDP in 2020. Skiing, luxury shopping, world famous film festivals the Summit Park, Utah, area has everything a millionaire could ask for and more. The typical home in Montana City is worth $331,900, the most of any city with a population between 1,000 and 25,000 in Montana and far more than the $219,600 state median. The typical Spring Creek home is worth $225,400, less than the $242,400 state median home value. 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). This prosperity has likely attracted many new residents to Jenks -- the population grew by more than 24%, from less than 18,000 in 2013 to over 21,000 in 2018. The town of six square miles is near Palo Alto, Stanford University and . Perhaps best known is Hanover, N.H., which forms the northern tip of this urban agglomeration. While incomes and home values often correlate, housing in Spring Creek is more affordable than in much of Nevada. We have yet one of the Richest Cities in California on our list at the eight spot and that is Oxnard-Thousand Oaks-Ventura. The typical Mississippi household earns just $43,567 a year, about $17,000 less than the typical American household. Ocean Pointe is a Census-designated place on the island of Oahu within commuting distance of Honolulu. 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. The states with the highest number of the richest cities are California with 23, New Jersey with 18, and New York with 13. And, unlike more rural parts of the vacation wonderland, Laconia is just a few miles off Interstate 93. All Rights Reserved. Median household income: $133,768 (state: $68,374), Poverty rate: 2.6% (state: 10.3%), Median home value: $536,100 (state: $256,700). Adjusted median household income: $103,100. This unincorporated town in Essex County was founded by the inventor of the modern roller shade in the 1870s. These commodity ETFs offer investors exposure to the diverse asset class, which is a helpful hedge against inflation. All four have average incomes upwards of $400,000. With a median income of $123,220, Buckner is the wealthiest place in Kentucky. Hidden Valley is a private residential community on the eastern edge of Indiana, just across the Ohio border from Cincinnati. 6. Initially a mining camp in the 19th century, Montana City has since developed into a wealthy suburb of approximately 2,800 residents. 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. You can sum up the appeal of Edwards in one word: skiing. Like all Floridians, Key West's millionaires save a bundle on taxes. On the plus side, Massachusetts' reputation as a high-tax state is overblown (opens in new tab). 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. Some 22.6% of households earn $200,000 or more, more than five times the comparable 4.4% of households throughout Wisconsin. Higher prices have been a major headache for investors, but these best inflation-proof stocks could help ease the impact. Martha's Vineyard has 17,000 or so year-round residents, but the population can swell to 200,000 during peak summer months. 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. These places aren't in the best states to move to in the USA, but a few are some of the wor. Median household income: $180,541 (state: $63,575), Poverty rate: 1.2% (state: 13.1%), Median home value: $625,100 (state: $187,200). The city of Williston expanded rapidly during the first half of the 2010s, driven by the explosion in shale oil drilling that once gave North Dakota the fastest-growing economy in the nation. According to Niche, the national percentage is 20%. Although gold mining is no longer much of a growth area, pulling the yellow metal from the ground does remain a productive endeavor. Naturally, skiing is what first comes to mind when it comes to Breckenridge, but the area supports a wide range of sports and cultural activities through all four seasons. From metro areas on both coasts to the middle of the Pacific Ocean, these are the priciest cities in the U.S. to call home. 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. The report based its . This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019. Heres how retirees can benefit from changes in required minimum distributions (RMDs), qualified longevity annuities and IRA catch-up contributions. Atherton, CA- Average household income - $450,696. Loudoun County. At the same time, the town offers easy access to several major cities. 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). Oak Hill is a small city of approximately 4,600 residents located about 7 miles south of downtown Nashville. Published 11 January 23. stocks The appeal of Key West to millionaires and heck, everyone is pretty self-evident. The typical household in Vermont earns about $60,000 a year, in line with the national median household income. In Gateway, Alaska, most households earn more than $100,000 per year, compared to the statewide median income of $76,715. 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. 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 Golden State's reputation as a high-tax destination is built in part on how aggressively it goes after big earners, with a 13.3% tax rate that kicks in at $1 million (for single filers) of taxable income. (It's an in-state draw for all the millionaires from the Stamford area, too. The typical household in the area earns $88,199 a year, a higher median income than in every other small city or town in the state. Fairfax County, which includes the independent cities of Fairfax City and Falls Church, remains one of the . While the median income in Essex Junction is about $15,000 more than the statewide median, it falls below the overall median in several other states, including neighboring Massachusetts and nearby Connecticut. Here are nine of the best stocks for rising interest rates. It has a higher share of wealthy residents than any other small city or town in New York, with 56.9% of households earning at least $200,000 per year. Indeed, benchmark U.S. crude oil is off about 35% over the past year. Pinecrest, Florida, is located a few miles south of Miami, just inland from Biscayne Bay. Built with one-acre plot minimums for most of its history, the Inverness housing stock is among the most expensive in the country. As is typical among the cities and towns on this list, Essex Junction is within commuting distance of a larger urban area. Large concentrations of high-net-worth households are found in surprising locales across the U.S. The city's great appeal is no secret. 24/7 Wall Street is a USA TODAY content partner offering financial news and commentary. Median household income: $80,513. For the second year since Bloomberg started to compile the Richest 100, the nation's top spot is Atherton, California. Median household income: $75,441 (state: $62,268), Poverty rate: 11% (state: 11.1%), Median home value: $217,400 (state: $213,300). 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