100 richest towns in america 2020

Greenville is a relatively short commute to New York City, providing its residents access to the many high-paying jobs. Heres how it works. Los Angeles, Chicago and Houston round out the top five . 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. The typical household in Spring Creek earns $97,143 a year, far more than both the state median household income of $57,598 and the national median of $60,293. "Oak Harbor is usually regarded as the poorer but more developed stepsister when compared to other Whidbey municipalities," notes the Whidbey News-Times. Heres how retirees can benefit from changes in required minimum distributions (RMDs), qualified longevity annuities and IRA catch-up contributions. Darien is the wealthiest small municipality in one of the wealthiest states. The Beehive State ranks well in every category we measured. ), "There's something for everyone: art galleries, outdoor activities, shopping, great food. High-income areas tend to have well-educated populations -- and Duvall is no exception. The greater area we're talking about here spills over into Idaho, too, and includes Grand Teton National Park, as well as parts of Yellowstone National Park and The Teton Wilderness Area. 18 Stocks Warren Buffett Is Selling (And 6 He's Buying). Published 6 January 23. real estate Dalton Gardens is north of Coeur d'Alene, Idaho, and across the border from Spokane, Washington, giving its residents access to two major population centers where they can find employment. 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. And on that relative basis, Los Alamos really stands out. So it should come as no surprise that Breckenridge would make the cut. The town is centered by Hidden Valley Lake. For context, the typical American home is worth about $205,000. The mansions of America's wealthiest could just be a short trip from where you live although you might need a boat to get there. Median household income: $159,167 (state: $50,972), Poverty rate: 0.8% (state: 16.1%), Median home value: $649,000 (state: $158,600). At the same time, Hudson is chockablock with architectural gems. Then oil prices collapsed in 2014 and some folks even started pulling up stakes. And, unlike more rural parts of the vacation wonderland, Laconia is just a few miles off Interstate 93. Great Falls is the richest town in Virginia and one of the richest in the entire country. Rank City Income; 1. 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 . Horace is a small bedroom community located roughly 10 miles southwest of downtown Fargo. Median household income: $228,836 (state: $71,564), Poverty rate: 2.8% (state: 10.9%), Median home value: $1,133,100 (state: $264,900). View Slideshow. Another attractive aspect of the area is that the City of Lebanon operates Storrs Hill, a 20-acre ski area that hosts three ski trails, two ski jumps, a surface lift and ski lodge. The tiny town about 35 miles northwest of Santa Fe is home to a government nuclear weapons laboratory and a number of chemists, engineers and physicists. America's 50 richest towns: Silicon Valley community leads the list for the fourth year in a row with average household income of $525,000. Adjusted median household income: $103,100. Hard work is embedded in American culture. 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. Nearly 60% of Highland residents 25 and older hold at least a bachelor's degree, as compared to 33.3% of Utah adults. Some 39% of adults have a bachelor's degree or higher, well above the comparable 23.7% share of adults across the state as a whole. It's a small area with a small population but a large percentage of highly educated and highly trained engineers and scientists. Warren Buffett Stocks Ranked: The Berkshire Hathaway Portfolio. The typical home is worth $625,100, more than three times both the state median home value of $187,200 and the national value of $204,900. A wealthy suburb of the Omaha metro area, Papillion has grown from approximately 1,000 residents in 1950 to more than 20,000 today. Places like Dickinson, located in the oil-rich Bakken Formation, were mining millionaires. Median household income: $170,952 (state: $53,560), Poverty rate: 1.3% (state: 14.2%), Median home value: $629,200 (state: $151,600). While this is the record at the beginning of 2020, his salary will surely increase by the end of this year. Millionaires building second homes in the Steamboat Springs area have done more to push up house prices than wages. Indeed, former presidents Bill Clinton and Barack Obama have summered there, and Jacqueline Kennedy Onassis long maintained a home on the island. The largest companies in the area include government tech contractor Booz Allen Hamilton, Inova Health System, and government-sponsored finance giant Freddie Mac. Atherton is a small neighborhood of about 7,000 people and it is located in the heart of Silicon Valley. Top employers in Elko County include the Elko County School District and West Wendover Casinos. 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. 2); Hillsborough, California (No. Grant Suneson, Evan Comen and Samuel Stebbins. This city in the oil-rich Bakken Formation soon found itself home to fracking millionaires. Centerton is the fastest growing small city or town in Arkansas and one of the fastest growing places in the entire country. Most such agglomerations are economically, socially and culturally dominated by one city at their centre. Oak Hill is a small city of approximately 4,600 residents located about 7 miles south of downtown Nashville. New Albany is a suburb of the Columbus metro area, located less than 15 miles northeast of the Ohio state capital. Loudoun County. The typical Weddington household earns $132,587 a year, more than twice the median household income of $60,886 in Charlotte and the state median of $52,413. The boom times looked to be rolling again in North Dakota until COVID-19 gutted oil demand. 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. He's also written for Esquire magazine's Dubious Achievements Awards. Data on household incomes and home values come from the U.S. Census Bureau. Tiny Elko, Nevada, owes its high concentration of millionaires to its status as the capital of Nevada's gold mining industry. Estimates of millionaire households provided by Phoenix Marketing International. March 6, 2018 9:00am by Barry Ritholtz. Each has an average household income of over $400,000. The area's population grew by 34.5% from 2013 to 2018, compared to the U.S. population growth of 3.6%. Small cities and towns are listed by percentage of millionaire households, from lowest to highest. As we shall see, another area near Laconia makes this list of small towns with a high percentage of millionaires. More than 8,000 people call Upper Saddle River in Bergen County home. Over the last five years, the number of people living Ocean Pointe jumped by 44%. For more sedentary folks, Breckenridge hosts the National Repertory Orchestra every summer and the Breckenridge Film Festival every autumn. 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. Real estate taxes are among the highest in the country, and the state has not only a luxury tax, but the country's only gift tax. The title of most expensive town in Florida goes to the South-West beachside paradise, Boca Grande. Vineyard Haven is a town on Martha's Vineyard. In Topsham, 44.9% of adults have a bachelor's degree, one of the larger shares of any small city or town in Maine and far more than the state bachelor's degree attainment rate of 30.9%. The self-made hyper-rich say these things are the key to getting there. In some cases, these locations benefit from being popular recreational areas or havens for wealthy retirees. AI stocks have been bloodied up in recent months, but the technology's relentlessly growing importance should see the sun shine on them again. The report based its . Examples of investable assets include cash, stocks, bonds and funds, among a bunch of other types of investments and financial products. And thanks to abundant revenue that the state collects from oil and mineral rights, Wyoming millionaires shoulder one of the lowest tax burdens in the U.S. For those living in Idaho, the tax situation is a bit more mixed (opens in new tab). The Mount Washington weather station, 1 Boca Grande. As is often the case in the small cities and towns on this list, Winchester residents tend to be well educated. "Coupeville and Langley have higher incomes, swankier homes and older residents." Indeed, it has been cutting income taxes for several years in a row to the point that they barely exist. 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. The Claremont-Lebanon micro area abuts Laconia and has plenty of its own attractions, as well. 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. Median household income: $108,299 (state: $55,679), Median home value: $349,500 (state: $166,800). The Boston suburb of Winchester has a median household income of nearly $160,000 a year -- more than double the statewide median of $77,378, which itself is one of the highest among states. 3); and Cherry Hills Village, Colorado (No. Median household income: $74,172 (state: $43,567), Poverty rate: 3.8% (state: 20.8%), Median home value: $177,900 (state: $114,500). The town's widespread prosperity suggests that Ocean Pointe is a desirable place to live. Nevin Rudloff October 8, 2020 . The aforementioned Park City, which hosts Robert Redford's Sundance Film Festival, also boasts several world-class ski resorts. To compiler their 2020 list of the 50 richest places, Bloomberg "evaluated . 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. Austin, Texas. Millionaire households: 1,840; There's been a lot of panic surrounding the mass exodus of wealthy residents from New . Not only is there no state income tax, but the government actually pays residents an annual stipend. 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. 100. worldwide. Looking at the poorest cities in the U.S., there are certainly some geographic patterns that emerge. Hampton is a small seaside Census-designated place of approximately 9,000 residents in Rockingham County. Fly fishing, hiking and whitewater rafting draw folks to town in the summer months. 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). The town is just outside of Anchorage, Alaska's largest city, providing residents access to many, likely higher-paying, employment opportunities. Median household income: $223,182 (state: $71,228), Poverty rate: 2.3% (state: 14.3%), Median home value: $2,000,000+ (state: $475,900). The typical Winchester home is worth $893,700, more than double the median home value of $366,800 in Massachusetts. 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. Tech billionaires, like former Google CEO Eric Schmidt, Facebook COO Sheryl Sandberg and late Microsoft co-founder Paul Allen, have called the richest town in America home where the average household income is more than $500,000 a year. All 30 Dow Stocks Ranked: The Pros Weigh In. We've rounded up the wealthiest citizens from 31 rich countries, including America, the UK, Canada, and Australia. Published 23 January 23. Median household income: $123,220 (state: $48,392), Poverty rate: 11.5% (state: 17.9%), Median home value: $328,000 (state: $135,300). Clarkson Valley is a small Missouri city of less than 3,000 people. The typical Travilah home is worth $1.1 million, more than three times the $305,500 state median home value and more than five times the $204,900 national figure. As is typical among the cities and towns on this list, Essex Junction is within commuting distance of a larger urban area. Too cold outdoors? Bloomberg created and ordered this list by annual household income. America's 100 Richest Places. Run, swim or take exercise classes at the YMCA Community Center. In most states, the wealthiest town has a median household income that is two or three times higher than the median across the state as a whole. Median household income: $132,587 (state: $52,413), Poverty rate: 1.7% (state: 15.4%), Median home value: $443,600 (state: $165,900). The high incomes in Glen Ridge are evident by real estate values. In most of these cities, people have it made, financially. 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. Jim Walton is the last heir to the Walmart fortune. In fact, every season challenges the next for which is more beautiful.". West Palm Beach, Florida. 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 The population of Horace has grown rapidly over the past several decades, from 276 residents in 1970 to 2,660 today. Here is the list of top 14 wealthiest towns in America as of March 2023 1. In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics and more. A Bloomberg report is out on the 100 richest towns in America, and four towns in Connecticut made the list. Launching and succeeding with an innovative, one-of-a-kind business is an exhilarating yet daunting journey. Unfortunately for millionaires and folks of lesser means, New York State taxes take a bite. Not all parts of the state are low income, however. 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