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Only 4.5% of the communitys 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. Number of high-net-worth individuals with wealth over $1 million: 38,000, Increase in millionaires and billionaires from 2012 to 2022: 75%, Houston, Texas. 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In three, over half of the adult population has a four-year college degree. The Harvard University campus is located roughly 30 minutes from Weston. Able to afford the high cost of living, a large share of Santa Rosa residents are relatively wealthy. The firm tracks where global millionaires and billionaires, or high-net-worth individuals, live. Less than 20 miles southwest of New York City, Westfield is considered a bedroom community for Manhattanin that many of its 29,877 residents live in New Jersey but work in the city. The home is built against a bluff of granite boulders and was constructed with the finest craftsmanship. Tech's explosion has made San Francisco and nearby Silicon Valley the largest cluster of billionaires in the US and the world. Oxnard-Thousand Oaks-Ventura is one of only eight U.S. metro areas where the majority of households earn over $80,000 per year. All Rights Reserved. To help you navigate moments of rejection and disappointment, here are three powerful ways to fuel your path to success. Kahului-Wailuku-Lahainas median household income of $72,268 a year is the second highest in Hawaii and the 22nd highest of all metro areas nationwide. Many people still have high values in their portfolios and are looking to take advantage of the pricing in Park City, which is relatively low compared to their own markets in New York, San Francisco and Los Angeles, says Jake Doilney, who helps lead The Agencys Park City team. As of 2019, 30,697 residents called Saratoga home. The 34 towns on this list can be found in just 11 states. The Richest and Poorest Cities in Every State | Moneywise The Wealthy Are Moving To These 5 U.S. Mountain Towns - Forbes According to Zillow, the 2022 median home value is $1,112,584. Together, these two factorshigh college education and low poverty ratesare common among Americas richest cities (which will be apparent in the slides ahead). There is a main home as well as a guest house, each featuring rock fireplaces, massive windows that let in plenty of nature and opulent detailing, like marble features in the bathrooms, and wooden vaulted ceilings. Cupertino is in Silicon Valley, west of San Jose, with Los Altos to the north and Saratoga to the south. Despite being home to more than a third of the countrys richest cities, California is not the richest stateMaryland, with a median household income of $86,738, isnor is it home to the richest city. Others prefer to fly under the radar, like reclusive In-N-Out heiress Lyndsi Snyder. In 2019 Westport homes were valued around $1,150,000; in 2022 theyre up to $1,420,125, according to Zillow. With a population of around 9000, Glencoe is one of the most popular (and exclusive) suburbs of Chicago. According to the U.S. Census Bureau, the typical American household earns $57,617 per year. Ski-in/ski-out properties became highly sought after because of Covid-19, says Brenna Kelleher, an agent with PureWest Real Estate Big Sky, an Affiliate of Christies International Real Estate. Riva Ridge Retreat is listed by Ian Osler and Drew Orlando of Jackson Hole Sothebys International Realty for $33.9 million. Los Altos Hills, CA. However, the cost of living is relatively high in the state thanks, in part, to the cost of transporting goods across difficult terrain. The town ranked number 2 on Forbes list of Americas most expensive zip codes in 2010, but by 2013, it had jumped to poll position; a position its occupied ever since. Partially as a result, the metro area is one of the best educated in the United States. With over 300 years of history, the town is currently at something of a crossroads. The town offers a semi-rural environment within just a short drive of Silicon Valley, making it the perfect base for billionaires such as Googles Eric Schmidt and Facebooks Sheryl Sandberg. Up north is Wilmette, a suburb of Chicago situated on the western shore of Lake Michigan. Though the area may be famous for its more illustrious homes, a variety of residences can be found. Measuring only 1 square mile and with a population just scraping the 6000 mark, Bronxville, New York is one of the tiniest places to make our list. The couple was set to board the MSC Splendida in Bari, Italy. The Pumpkin Spice Latte has been a fall favorite since 2003. Meta's Mark Zuckerberg, Alphabet's Larry Page, and Airbnb's Brian Chesky all call the region home. Median household income: $224,485. The areas median income is bolstered by one of the lowest jobless rates in the country. Lower price points in the area still hover around $1 million. Giant Leap explores how startups and governments are cashing in on the commercialization of space. Ask a Fool, More:As Trump blasts illegal immigrants, video captures man's N.Y. rant about Spanish speakers. The Massachusetts suburb of Weston continues to draw more and more of American's wealthiest families [+] each year. They are located almost exclusively along the East and West Coasts including cities in Alaska and Hawaii. The Silicon Valley town that billionaires Eric Schmidt of Google and Facebooks Sheryl Sandberg have called home is Americas richest community for the third year in a row. One such town, Weston, is the wealthiest. The D.C. area is one of just eight where over 50% of adults have at least a bachelors degree. The reason Cupertino is so packed is the large number of tech companies with offices there, including Apple, Amazon, and Verizon, among other big businesses. Microsoft Gives the UK What It Wants. Even with a median annual household income of $76,788, the Baltimore metro area's income which is 14th highest of U.S. metro areas falls below its home state median income. Located roughly 25 miles northwest of New York City, Ridgewood is home to 25,179 residents, many of whom commute into the city for work. DenisTangneyJr/Getty Images. In San Francisco, just 2.7% of the labor force is unemployed, one of the lowest jobless rates in the country. For each location in the U.S., Bloomberg evaluated inflation-adjusted household income data from the past 12 months, with a minimum of 2,000 households, and ranked each by average household income. ", Number of high-net-worth individuals with wealth over $1 million: 30, 500, Increase in millionaires and billionaires from 2012 to 2022: 102%. The district serves roughly 2,100 students. The glamorous ski town of Aspen is no stranger to billionaires and celebrities In general, Connecticut is one of the most affluent states across the US, thanks to the areas high concentration of billionaires. Many of these sizable luxury homes feature classical rooms like libraries, ballrooms, and wine cellars and housing more modern spaces like gyms, movie theaters, and indoor spas. Destinations like Park City offer plenty of space, both in terms of a homes square footage and larger lot sizes, not to mention, these towns have naturally social distant activities. The metro area is one of seven in California to rank among the 25 wealthiest in the country. Its relatively small population of less than 9000 inhabitants manage to pull in an average income of $358,994. 24/7 Wall Street reviewed income levels in 382 metropolitan areas to identify the 25 richest cities in America. Copyright 2023 Entrepreneur Media, LLC All rights reserved. And one of America's fastest-growing cities Austin, Texas has emerged as a relatively new billionaire hot spot, counting nine as residents. There are floor-to-ceiling windows in nearly every room, which shape the beautiful views of nature. When it comes to the homes of Weston, prepare to be charmed inside and out. We may earn commission from links on this page, but we only recommend products we back. Is it dead in these 50 places across the US? Number of high-net-worth individuals with wealth over $1 million: 124,000, Increase in millionaires and billionaires from 2012 to 2022: 24%. 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. ", Number of high-net-worth individuals with wealth over $1 million: 30, 500, Increase in millionaires and billionaires from 2012 to 2022: 102%, Seattle, Washington. Just 26.1% of area adults have a bachelors degree, below both the 31.3% college attainment rate nationwide and the 39.3% rate statewide. Some billionaires there have names that light up Hollywood marquees, like director Steven Spielberg. For most residents, high incomes are necessary to afford the areas high cost of living. Coveted listing 711 Willoughby Way is a fantastic Aspen estate with six bedrooms, lush gardens, outdoor dining areas, waterways and courtyards surrounded by nature. The spacious interiors at 2755 Telemark Drive. 5th position goes to Short Hills, New Jersey, which makes our list thanks to an average household income of $367,491. More:Want to be a high earner? Take billionaire hedge-funder Ken Griffin, who moved himself and his hedge fund Citadel to the Magic City from Chicago. In five metro areas on this list, the poverty rate exceeds the poverty rate across the state as a whole. Top 50 Richest Places In America Allocated $350 Million - Forbes The median household income in a given city is closely tied to several factors. Even with social distancing guidelines in place, you can find a quiet trail to hike or bike, White says. Of adults living in Ridgewood, 76 percent hold a bachelors degree. Taking things inside, the median home value in Westfield is $906,521 in 2022, according to Zillow. Keep reading to find out more about the richest cities in the U.S. A suburb of Dallas/Fort Worth, Southlake had an estimated population of 31,292 people as of 2019, with 69.7 percent of adults holding at least a bachelors degree. In particular, this means leaving cities in favor of more space. These are the highest paid CEOs at Americas largest companies. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. The towns wealth can be attributed to its enviable proximity to Silicon Valley in fact, the town is considered an enclave for some of the Valleys richest inhabitants, including Google CEO Sundar Pichai, venture investor John Chambers, and Russian oligarch, Yuri Milner. Here Are 3 Ways to Turn It Into Power, People Underestimated Her 'Sweet' Idea, and She Took Advantage of It All the Way to $125 Million in Annual Sales and a $360 Million Exit. In November 2021, the median was about $1.29 million. Homelessness Didnt. Get the inside scoop on todays biggest stories in business, from Wall Street to Silicon Valley delivered daily. Historically, Aspen, Colorado has been a second home destination; however, since the onset of Covid-19, we have seen an increase in people choosing to make Aspen their primary location, says White. The Bridgeport-Stamford-Norwalk, Conn.metropolitan area, also known as Fairfield County, is home to many wealthy professionals who commute into New York City. Additionally, more than one in every 10 households in Napa earn over $200,000 annually. Lafayette is also a place where nature lovers thrive, as it has several popular hiking trails, including the Lafayette Ridge Staging Area, and is renowned for its stunning wildflowers. 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. The place is known for its world-class, Texas has long been referred to as "The Lone Star State" and, The 20 Best Places to Live in Florida for Families. The area's high incomes, however, are largely offset by a high cost of living. Number of high-net-worth individuals with wealth over $1 million: 340,000, Increase in millionaires and billionaires from 2012 to 2022: 40%. Of course, the citys homes arent too shabby either, with typical values around $1,800,000 in 2022, according to Zillow. In recent years, luxury hotels have set their sights on Big Sky, including Big Skys first-ever ultra-luxury resort, Montage Big Sky from Montage Hotels & Resorts, which operates luxury hotels in the U.S., Caribbean and Mexico. Despite its extreme wealth and high education rate, University Park has a slightly higher poverty rate, at 3.9 percent, making it the 109th lowest of 1,775 cities. Now the typical home value in Southlake is $1,047,548. 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, Top 10 cities where 250k has the greatest, Salary Americans say they need to be happy, The 10 best cities for renters that offer. Winner of our list with a staggering average household income of $450,698 is the town of Atherton, California. But what about other burns, like end-of-summer burnout? The US is home to 770 billionaires, according to London-based consulting firm Henley & Partners. With over 10 years experience he's covered businesses, CEOs, and investments. Cost of living by metro area, or regional price parity, is for 2015 and came from the Bureau of Economic Analysis. Have a confidential tip for our reporters? It is listed by Sandy Revisky, an agent from PureWest Real Estate Big Sky, an Affiliate of Christies International Real Estate, for $9.25 million. For the fourth straight year, Atherton toppedBloomberg'sRichestPlaces annual index.