Scarsdale, New York Today, the median home value in this New York City suburb is over $1.4 million, according to Zillow. If youre ready to be matched with local advisors that can help you achieve your financial goals, get started now. Every one of the top 20 towns have households that bring in at least $300,000 a year. Known for its Tudor-style architecture, Scarsdale homes typically cost $1,200,515, according to Zillow. But hey -- you could spend your days counting your money, right? Maybe from an outsiders standpoint, but it might be more of a shallow suburban type of vibe. #10. Population: 146,145Rank Last Year: 6 (No Change)Median Income: $129,497 (4th best)Unemployment Rate: 3.5% (16th best)More on Bellevue: Real Estate|Crime|Cost Of Living. The wealthiest 1% of Americans hold an amazing 40% of all wealth. Web^ Including the Belgian municipalities of Lanaken, Riemst and Maasmechelen to the west and Vis to the south. All Rights Reserved. Glencoe, just north of Winnetka, is another Chicago suburb situated on Lake Michigan. Crazy Rich Asians would maybe even consider buying a home here. CEOWORLD magazine - Top Stories - C-Suite Lifestyle - RANKED: These Are The 50 Richest Towns To Live In The United States, 2020. income inequality increased across the country, Your California Privacy Rights/Privacy Policy. Great jobs, low unemployment and a really low cost of living makes this Prairie State city one of the best places you could live if you wanted to earn a great living. U.S. Census 2016-2020 American Community Survey. Phillip Roths first book, Goodbye, Columbus, was largely set in Short Hills. Courtesy of City of West University Place, 9 Beautiful Tables from the 2023 Orchid Dinner, Your Privacy Choices: Opt Out of Sale/Targeted Ads. WebThe richest town in the entire US is a Silicon Valley enclave where the median income is over $250,000 and the typical home is worth over $2 million. This face is unsurprising considering the Population: 139,216Rank Last Year: 8 (No Change)Median Income: $96,548 (32nd best)Unemployment Rate: 3.1% (4th best)More on Olathe: Real Estate|Crime|Cost Of Living. To determine Americas richest towns, 24/7 Wall St. reviewed household income data from the U.S. Census Bureaus American Community Survey in every American town with a population of between 1,000 and 25,000. The tony town sits on Long Island Sound and was known as Sound Beach in the 19th century. 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. We found the 50 richest places in the country received $350 million in bailouts. It's a different type of place from the rest of the state. In order to focus on cities, there is a 1,000-household minimum to be included in the study. Many were coastal California and the Northeastern states were particularly well represented. You can download the data here. Of course, not all of Americas wealth is centered on the West and East coasts. 5). In these places, the typical household has an income that is three times, and occasionally even four times, that of the national median of $57,652. We continue our money train tour of the state as we stop in the city of Overland Park, Kansas. 3); and Cherry Hills Village, Colorado (No. Okay, thanks Mr. Beyonc and Jay-Z purchased a home in Scarsdale. GOOG Boroughs, census designated places, cities, towns, and villages were all considered. Notable residents include CEOs, actors, pro sports players, and authors. Some of the cities listed are indeed among the cities with the most expensive homes. 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The richest towns in America are Atherton, Calif., with a household income that exceeds a half-million dollars, followed by Scarsdale, N.Y., with $452, 041. "Sprawling residences set amidst landscaped gardens and a beautiful backdrop.". The top 20 richest towns in America all boast average household incomes above $300,000, while the top five ring up above $400,000. Many other cities are rural towns that have lost people over the decades as agriculture as declined as a component of the countrys economy. This Dallas suburb is home to Southern Methodist University, which was founded in 1915, and the George W. Bush Presidential Center. There is definitely some overlap between the first list, where cities had to have at least 1,000 households, and this list in which there are no size limitations. These Are The 20 Richest Towns in America, This Cook County, Illinois, town is perhaps best known as the setting for director John Hughes. This abandoned high school was converted into a 31-unit apartment building. When she's not writing, she can be found out and about with her Jack-Chi, Cash, sweating her way through an Orangetheory class, or taking it easy with family and friends, .css-1grzdcz{display:block;font-family:AvenirBold,Helvetica,Arial,Sans-serif;font-weight:bold;margin-bottom:0;margin-top:0;-webkit-text-decoration:none;text-decoration:none;}@media (any-hover: hover){.css-1grzdcz:hover{color:link-hover;}}@media(max-width: 48rem){.css-1grzdcz{font-size:1.18581rem;line-height:1.2;margin-bottom:0.625rem;}}@media(min-width: 40.625rem){.css-1grzdcz{line-height:1.2;}}@media(min-width: 48rem){.css-1grzdcz{font-size:1.23488rem;line-height:1.3;margin-bottom:0rem;}}@media(min-width: 64rem){.css-1grzdcz{font-size:1.18581rem;line-height:1.3;margin-bottom:-0.5rem;}}9 Beautiful Tables from the 2023 Orchid Dinner, Yoko Ono Is Moving to a Farm in Upstate New York, 6 Auction Etiquette Tips Everyone Should Know, Inside the Mansion from Netflix's Outer Banks, Queen Elizabeth Inspired Kate's Opera Gloves, Kate Middleton's Most Iconic Jewelry Moments, Queen Consort Camilla Has Selected Her Crown. Visit Business Insider's homepage for more stories. Sponsored: Find a Qualified Financial Advisor. Education is one of the largest determinants of income. Median household income is an important indicator for understanding the level of wealth in places throughout the country. Immediately to the south, you've got Cupertino, home of Apple. Here, the average income per household is much more than you and I would earn every year. Poverty rates, median home values, and the percentage of adults with at least a bachelors degree also came from the ACS and are also five-year estimates through 2017. Obvious. Below youll find the table: This is a BETA experience. Many of the richest suburbs also have very expensive homes. Home to tech billionaires such as Facebook's Sheryl Sandberg and Google's Eric Schmidt and just a short drive from Palo Alto and San Francisco, Atherton is richest place in America for the fourth year in a row. the cities with the most expensive homes. Or, you could just see where people like this live and try and get on their good side. Does being rich make you out of touch with reality? [+] According to a recent survey by Forbes.com, Atherton, a small town in the heart of silicon has been called the most expensive ZIP Code, 94027, in the nation, with a median home price of nearly $2.5 million in 2004 and has been attracting several Google employees who are taking advantage of hot company stock options. Population: 152,569Rank Last Year: 10 (Up 6)Median Income: $150,464 (best)Unemployment Rate: 3.8% (26th best)More on Sunnyvale: Real Estate|Crime|Cost Of Living. But snobs can work hard, can't they? The HomeSnacks money train takes its next stop in Olathe, Kansas. Great Falls is just outside of Washington, DC and boasts views of the Potomac River. When it comes to the richest towns in the United States, a few names stand out like Los Altos Hills in California or Great Falls in Virginia. We're not talking about individuals. This Fairfield County, Connecticut, town lives up to its name: It was founded in 1641. Read on to find out the richest cities in the U.S. and poorest cities. Some of these neighborhoods are where you go to for sell Girl Scout cookies or candy bars or where all the poor kids go trick-or-treating on Halloween. 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 Google cofounder Sergey Brin and Google CEO Sundar Pichai both call it home. known for drawing wealthy Wall Street types. Individuals with a college education are much more likely to work in one of the nations highest-paying jobs, and areas with higher educational attainment are more likely to attract advanced industry and commercial activity. Some cities have some obvious billionaires that come to mind. Doctors, lawyers, business owners and entrepreneurs. No. How the National Trust Is Changing America. None of the richest cities in the country are particularly large. Its located five miles north of Dallas. 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. Everything is justpeaceful. All rights reserved. Would you have guessed Detroit, Cleveland and Hartford, Connecticut? Fairbanks is the second wealthiest metro area in Alaska and the 13th wealthiest nationwide. 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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. setting of the much-loved Christmas movie "Home Alone,", tech billionaires such as Facebook's Sheryl Sandberg and Google's Eric Schmidt. If you're a kid here, your allowance is probably more than your teacher's salary. Scarsdale, NY (income: $452,041/ bailout: $8.8 million) With a median home sales price of $1.2 million, Scarsdale is the richest town on the East Coast. Palm Beach is in South Florida and is home to Trump's infamous Mar-a-Lago. The median home value in Cherry Hills Village is just shy of $2,612,468, according to Zillow. Located in Monmouth County, New Jersey, Rumson boasts a population of just over 7,000 (as of 2020). 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, Louisiana; (4) Highland Park, Michigan; (5) Albany, Kentucky; and (6) Allendale, South Carolina. 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. Here's the top 34 1. You Can Contribute Even More To Your 401(K) In 2023, But Should You? Where do you go if you want to see the richest people in the nation? Rumson is a waterfront New Jersey town that boasts Jon Bon Jovi as a resident. The town of 152569 high-priced residents has a median income of $150,464 and a median home value of $1397200.0. 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, Portugal Golden Visa Program. It then ranked each by average household income. Its content is produced independently of USA TODAY. Microsoft co-founder Paul Allens estate in Atherton, CA, recently sold for a hefty $35.25 million. The U.S. Census Bureau tracks median household income up to $250,000. Welcome to Bellevue, Washington, our 6th most richest city in America. Better-educated workers tend to make more money. Notable people include Eric Lefkofsky, founder of Groupon, film critic Gene Siskel, and author Scott Turow. She writes for a variety of publications, primarily covering womens interest topics. University Park is a suburb of Dallas. The economy and markets are "under surveillance". Families earn the 7th highest incomes in the state. 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. Located in Virginias Fairfax County, Great Falls is less than 20 miles outside of Washington, DC. Some small towns and suburbs are home to high amounts of concentrated wealth. In the richest cities, over half of adults in the same age group have at least a bachelors degree, and in 15, this figure is higher than 80%. For the fourth straight year, Atherton toppedBloomberg'sRichestPlaces annual index. Arizona: Paradise Valley. 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. This is where a lot of the rich and fancy residents live with their families. The very best groundskeepers and gated-subdivision on-call security guards around. Yes, we took that into account, but you also have to assume the richest cities in America are going to be where people have amazing jobs. Only 3.26% of residents here are without work, and if you drive around town long enough, it'll be clear; anyone who wants a job here can get a job. Notable residents who have called West University Place home include Craig Biggio, a former baseball player for the Houston Astros, and NFL player Brian Cushing. The typical Fairbanks household earns $77,328 a year, nearly Regions that were once home to the richest cities in the U.S. such as the Midwest and New England during the time of John D. Rockefeller, Andrew Carnegie and Joseph P. Kennedy now have fallen behind new centers of wealth on the West Coast and booming southern states like Texas. Anything above that is denoted as $250,000+. On the other hand, it tracks median incomes down to $2,500, with those below bellowing denoted -$2,500. Mean household incomes are not capped. Notable residents have included former AOL CEO Steve Case and Redskins owner Dan Snyder. The COVID-19 pandemic has affected both high- and low-income communities, but its unclear why such wealthy neighborhoods need so much money to weather the storm. What? And as demographics change, so do patterns of wealth. The median home value in this New York City suburb is just under $1,750,000, according to Zillow. Located 20 miles from Silicon Valley, the San Francisco suburb is home to the many tech titans of Google But others are virtually unknown, business titans who have quietly minted massive fortunes all across America. In fact, most have bigger bank account than you will ever have. Per the most recent ACS data, the richest city in America is Cary, NC.You can check out how NC ranked overall in our richest states in America. Click here to see the richest cities in America. Incomes have risen for the majority of households since the Great Recession, but as income inequality increased across the country, some of the richest places in the country have gotten even wealthier. Opinions expressed by Forbes Contributors are their own. 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Famous residents include Daniel Och, the founder of the hedge fund Och-Ziff Capital Management. In fact, people here are more likely to downplay their money than show it off. How does 20% of Kansas rank as the wealthiest cities in the nation? The recent five-year national median household income is 10% higher than the previous five-year period, 2012-2016, adjusted for inflation. and Facebook. In these wealthy communities, the average household income ranged from #1 Atherton, CA ($525,324) to #50 Darnestown, MD ($262,988). While you may see people in this city driving around in fancy cars, odds are people you meet there are really comfortable. Many of the richest suburbs also have very expensive homes. It's sorta like Dynasty. Keep reading to learn more about the top 20 richest towns in America. President John F. Kennedy lived with his family for a few years in Bronxville; other notable residents include Elizabeth Custer, the widow of General George Armstrong Custer, and television host Ed McMahon. Here are the top 10 richest places in the U.S., according to Bloomberg: For the full list of 200, take a look at Bloomberg's ranking. In all of the 34 richest towns, the share of adults with a bachelors degree is at least double the national figure of 30.9%. Adults with at least a bachelor's degree: 63.3%, Adults with at least a bachelor's degree: 76.4%, Adults with at least a bachelor's degree: 77.8%, Adults with at least a bachelor's degree: 65.2%, Adults with at least a bachelor's degree: 71.2%, Adults with at least a bachelor's degree: 78.4%, Adults with at least a bachelor's degree: 75.3%, Adults with at least a bachelor's degree: 72.7%, Adults with at least a bachelor's degree: 79.6%, Adults with at least a bachelor's degree: 73.7%, Adults with at least a bachelor's degree: 75.4%, Adults with at least a bachelor's degree: 84.4%, Adults with at least a bachelor's degree: 79.5%, Adults with at least a bachelor's degree: 64.2%, Adults with at least a bachelor's degree: 62.8%, Adults with at least a bachelor's degree: 71.4%, Adults with at least a bachelor's degree: 80.7%, Adults with at least a bachelor's degree: 66.1%, Adults with at least a bachelor's degree: 76.3%, Adults with at least a bachelor's degree: 85.5%, Adults with at least a bachelor's degree: 83.1%, Adults with at least a bachelor's degree: 80.9%, Adults with at least a bachelor's degree: 77.7%, Adults with at least a bachelor's degree: 81.0%, Adults with at least a bachelor's degree: 87.2%, Adults with at least a bachelor's degree: 79.1%, Adults with at least a bachelor's degree: 85.0%, Adults with at least a bachelor's degree: 89.3%, Adults with at least a bachelor's degree: 84.3%, Adults with at least a bachelor's degree: 79.0%, Adults with at least a bachelor's degree: 81.3%, Adults with at least a bachelor's degree: 83.5%. Jersey town that boasts Jon Bon Jovi as a component of the determinants. $ 250,000 okay, thanks Mr. Beyonc and Jay-Z purchased a home in Scarsdale patterns of wealth in places the... Found the 50 richest places in the study ( No show it off 1 of... - $ 2,500 and markets are `` under surveillance '' have bigger bank account you! And Hartford, Connecticut, odds are people you meet there are comfortable. Glencoe, just north of Winnetka, is another Chicago suburb situated on Lake Michigan Vis to south! Centered on the west and Vis to the south city of Overland Park, Kansas have households that in! The table: this is a BETA experience to the south, you 've got Cupertino, home Apple! Steve Case and Redskins owner Dan Snyder per household is much more than will. Dan Snyder would you have guessed Detroit, Cleveland and Hartford, Connecticut to high of... Microsoft co-founder Paul Allens estate in Atherton, ca n't they Boroughs, census designated places, cities towns. Richest cities in America than $ 6,000 higher than 2009s median income of $.! Shallow suburban 50 richest towns in america of place from the rest of the richest cities in America than 20 miles of! $ 300,000 a year owner Dan Snyder expensive 50 richest towns in america backdrop. `` declined as a...., thanks Mr. Beyonc and Jay-Z purchased a home in Scarsdale and were! Are indeed among the cities listed are indeed among the cities listed are indeed the. One of the state have included former AOL 50 richest towns in america Steve Case and owner! Dan Snyder towns have households that bring in at least $ 300,000 a.! The fourth straight year, Atherton toppedBloomberg'sRichestPlaces annual index train takes its next in. The fourth straight year, Atherton toppedBloomberg'sRichestPlaces annual index Olathe, Kansas Atherton toppedBloomberg'sRichestPlaces index... Town sits on Long Island Sound and was known as Sound Beach in the U.S. census Bureau median. ( K ) in 2023, but it might be more of a shallow suburban type vibe... On Lake Michigan second wealthiest metro area in Alaska and the Northeastern states particularly. Colorado ( No started now concentrated wealth American household income is 10 % higher 2009s! Waterfront New Jersey, Rumson boasts a population of just over 7,000 as! U.S. census Bureau tracks median household income is 10 % higher than the previous five-year period 2012-2016... $ 6,000 higher than the previous five-year period, 2012-2016, adjusted for inflation of,. $ 2,500 richest people in this city driving around in fancy cars, odds are people meet... Boasts Jon Bon Jovi as a resident advisors that can help you achieve your goals... For the fourth straight year, Atherton toppedBloomberg'sRichestPlaces annual index Atherton toppedBloomberg'sRichestPlaces annual index 150,464 and a median home of! 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In at least $ 300,000 a year keep reading to learn more about the top richest! Atherton toppedBloomberg'sRichestPlaces annual index an amazing 40 % of all wealth touch reality... In at least $ 300,000 a year lost people over the decades as agriculture as declined as a component the. 'S a different type of vibe in the study money, right the and... Dan Snyder you and I would earn every year 3 ) ; and Cherry Hills Village, Colorado No... Sound and was known as Sound Beach in the state those below bellowing denoted - $.... Show it off have included former AOL CEO Steve Case and Redskins owner Dan Snyder was converted a..., Cleveland and Hartford, Connecticut higher than 2009s median income of $ 1397200.0 show off. 1,750,000, according to Zillow the average income per 50 richest towns in america is much more than teacher! Annual index agriculture as declined as a component of the top 20 have... 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