Like all Floridians, Key West's millionaires save a bundle on taxes. Fly fishing, hiking and whitewater rafting draw folks to town in the summer months. 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. Who said big money is smart? 6. Ireland, on the rise thanks to favorable corporate tax policies, is projected to hit #1 by 2027.; The resource-rich land with the world's biggest economy, the United States, ranks 9th on the list. This city is in proximity to Los Angeles. More than half of the 100 richest cities in the United States were in the New York City area or California. Investable assets include education/custodial accounts, individually owned retirement accounts, stocks, options, bonds, mutual funds, managed accounts, hedge funds, structured products, ETFs, cash accounts, annuities and cash value life insurance policies. The village was originally incorporated in 1892 as a means to organize a school system for the children of farmers, and today it is the wealthiest small town in Wisconsin. The Summit Park micro area, which also includes Park City, is a short drive from Salt Lake City and has the second highest concentration of millionaire households of any small town in the U.S. 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. Connecticut's median annual household of $76,106 is about $26,000 more than the median nationwide. Scarsdale, NYsales price of $1.2 million, Scarsdale is the richest town on the East Coast. The typical household in Rock Springs earns $75,441 a year, more than the $62,268 state median household income but less than the vast majority of places on this list. A relatively low-income state, New Mexico is one of only seven states nationwide where most households earn less than $50,000 a year. Just 4% of Gateway households have an annual income of less than $10,000, while 12% of households have an annual income greater than $200,000. On the plus side, Massachusetts' reputation as a high-tax state is overblown (opens in new tab). Residents seeking a break from quaint New England living can drive to Boston in less than 90 minutes. Concord also benefits from being within easy reach of Laconia and the state's famed Lakes Region, as noted earlier. Less than 2% of the town's 5,500 residents live below the poverty line, a fraction of the state poverty rate. If there's a silver lining, it's that North Dakota is one of the nation's more tax-friendly states (opens in new tab). Vineyard Haven is a town on Martha's Vineyard. Some 22.6% of households earn $200,000 or more, more than five times the comparable 4.4% of households throughout Wisconsin. View Slideshow. 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. But the town's signature draws are antiques and architecture. The typical household in Vermont earns about $60,000 a year, in line with the national median household income. Median household income: $214,477 (state: $59,570), Poverty rate: 4.3% (state: 15.5%), Median home value: $1,230,200 (state: $161,700). 12. Horace is a small bedroom community located roughly 10 miles southwest of downtown Fargo. The Federal Reserve has been aggressive in its rate hiking, and it's likely not done yet. Too cold outdoors? Atherton, California tops the list for the fourth . Does it really matter if Aunt Jemima and Uncle Ben get retired? Places like Dickinson, located in the oil-rich Bakken Formation, were mining millionaires. Sign up here, Your California Privacy Rights/Privacy Policy. Montana City is also home to some of the most expensive homes in the state. Hot springs, rafting, kayaking, fishing, hiking, mountain biking and golf, among many other activities, make Glenwood Springs a year-round destination. All Rights Reserved. West Virginia has the lowest bachelor's degree attainment rate of any state, at 20.3%. Due in part to a warm climate, proximity to the ocean, and access to a major city, homes in Pinecrest are expensive compared to statewide home values. Millionaires in America 2020: All 50 States Ranked. Below are the 11 Chicago area towns that made the list with their rankings. One of the main reasons for this is likely a high level of education. Its closest competitor, the quaint Hamptons village of Sagaponack, had a median price that, at $3.9 million, was about half of Atherton's. Keep reading for a closer look at the 27 most expensive . The median annual household income is over $228,000 -- more than triple that of the state. Greenville is a relatively short commute to New York City, providing its residents access to the many high-paying jobs. 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. While Silicon Valley and the New York metro area make up a big chunk of this list, the richest people in America also take up residences in Arizona, Florida, Colorado and Virginia. 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 small resort city about 160 miles west of Denver is loaded with fun stuff to do and not just in winter, when skiing is the main attraction in the Colorado Rockies. As is typical among the cities and towns on this list, Essex Junction is within commuting distance of a larger urban area. 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 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. So it should come as no surprise that Breckenridge would make the cut. While many of the highest paying jobs tend to concentrate near large population centers, there are also smaller towns that are very prosperous. Individuals with greater educational attainment are more likely to have high-paying jobs. Tiny Elko, Nevada, owes its high concentration of millionaires to its status as the capital of Nevada's gold mining industry. The median annual household income in America is just over $60,000. Incomes tend to rise with educational attainment, and in North Star, about two-thirds of adults have a bachelor's degree or higher, compared to fewer than one in every three adults across Delaware as a whole. The typical household earns $214,477 a year, more than three times both the state median household income of $59,570 and the $60,293 national figure. Future US, Inc. Full 7th Floor, 130 West 42nd Street, In Darien, a small Census-designated place in southwest Connecticut within commuting distance of New York City, the typical household earns $210,511. Corporate giants shouldn't be applauded for helping to solve crises their own policies have helped cause, writes Linsey McGoey. Greenwich and Darien, Connecticut. Median household income: $228,836 (state: $71,564), Poverty rate: 2.8% (state: 10.9%), Median home value: $1,133,100 (state: $264,900). In fact, every season challenges the next for which is more beautiful.". Walmart is the largest employer in Benton County, where Centerton is located. Median household income: $114,801 (state: $78,084), Poverty rate: 4.2% (state: 9.9%), Median home value: $629,800 (state: $587,700). In Dellwood, some 75.2% of adults have a bachelor's degree, more than twice both the state bachelor's degree attainment rate of 35.4% and the national rate of 31.5%. Largely agricultural for most of its history, Weddington began to develop more residential housing in the 1970s in tandem with the expansion of the Charlotte metro area. Median household income: $108,299 (state: $55,679), Median home value: $349,500 (state: $166,800). This idyllic town has all the charms of Old Florida--a thriving fishing industry, mom-and-pop eateries, and, of course, beaches built for casual strolling. Seattle-Tacoma-Bellevue. 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. Weddington is a small town of approximately 11,000 residents located 16 miles south of downtown Charlotte. For context, the typical American home is worth about $205,000. Warren Buffett Stocks Ranked: The Berkshire Hathaway Portfolio. Scottsdale, Arizona. The bottom 90% hold less than 25% of the total wealth. Christian. The title of most expensive town in Florida goes to the South-West beachside paradise, Boca Grande. The typical Topsham household earns $72,537 a year, the most of any small city or town in the state and more than the statewide median household income of $55,425. Median household income: $161,641 (state: $59,445), Poverty rate: 5.8% (state: 12.8%), Median home value: $602,000 (state: $174,100). The North Star State hits hard with income tax and property taxes are on the high side, too. . Theres also a home for sale 6.8 times that size (15,300-square-foot) and more than 19 times that price, listed at $32 million. 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. 30.0. New York, 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. Examples of investable assets include cash, stocks, bonds and funds, among a bunch of other types of investments and financial products. The area's high incomes are supported by access to high-paying jobs in nearby urban centers, which in addition to New York City, include Norwalk and Stamford in Connecticut. One whistleblower estimated it at $200 billion. 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. Within five years, Tulsa had grown from a rural crossroads town in the former Indian Territory into a boomtown with more than Nevin Rudloff October 8, 2020 . 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. There are six cities in where the median household income is less than $20,000: (1) Livingston . Today it has some of the most expensive homes in North Carolina. Heres how it works. 2020 At 9:44 pm. Glenwood Springs has collected many accolades over the years. This level of education qualifies Genesee residents for many of the high-paying jobs in the Denver area. tech stocks Known for high-income levels and a low unemployment rate, Luxembourg is the richest country in the world. While this is the record at the beginning of 2020, his salary will surely increase by the end of this year. Median household income: $117,300 (state: $59,209), Poverty rate: 3.5% (state: 11.9%), Median home value: $373,200 (state: $173,600). Reply. Accessibility to a city center is typically a key characteristic of the cities on the list. The Cannon River runs through town, and several parks and walking paths provide access to fishing, canoeing and kayaking. 24/7 Wall St. reviewed the median annual household income in over 2,600 cities, towns, villages, and census designated places to identify the richest town in every state. stocks Median household income: $210,511 (state: $76,106), Median home value: $1,461,100 (state: $272,700). New Albany is a suburb of the Columbus metro area, located less than 15 miles northeast of the Ohio state capital. The city's great appeal is no secret. . Bridgeport, just south of Morgantown and West Virginia University, has the highest four-year college attainment rate of any town in the state, at 50.7%. 13 Best Vanguard Funds for the Next Bull Market. 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. In fact, according to the Organization for Economic Co-operation and Development, the U.S. ranks 10th in the number of hours worked per country (Mexico, C But this comes at a cost. The three largest employers in Linn County, where Robins is located, are in the aerospace, insurance, and health care fields, all of which can pay relatively high salaries. 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 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. The appeal of Key West to millionaires and heck, everyone is pretty self-evident. 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. Watch on. Many residents likely commute to high-paying jobs in nearby Birmingham. The allures of the Key West area are well known. Fully 8.7% of Heber's 9,567 households have at least $1 million in investable assets. All. Published 17 January 23. places to live Kip ETF 20: The Best Cheap ETFs You Can Buy. Easton's proximity to the beach, abundance of parks and good schools make for an idyllic small-town experience for residents. The corporate leadership positions available to Centerton residents have likely helped raise the town's median household income to over $73,000 -- well above the statewide median of $45,726.