Dix Hills is in the greater Huntington area in Long Island, New York. Every item on this page was chosen by a Veranda editor. Nationally, 15.4% of the population lived below the poverty line. Additionally the city has one of the lowest median home values (of the richest cities, that is), listed at $797,480 in 2022, according to Zillow. This was no different in Glen Ridge, where nearly three-quarters of households included a married couple, compared to less than half of households nationwide. ALSO READ: The States With the Highest (and Lowest) Obesity Rates, 7. 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. While all but one other wealthy area on this list had a median home value of at least $750,000, Southlake had a relatively low median home value of $514,900. High levels of education, which tend to open doors to higher paying employment opportunities, may account for many of the regions high incomes. Seksan Mongkhonkhamsao | Moment | Getty Images. While just 32.8% of Oakland households included a married couple, 76.9% of Piedmont households did. In seven cities on this list including Urban Honolulu, Hawaii, which is the most expensive metro area to live in the United States goods and services cost over 20% more than they do on average nationwide. With an annual median household income of just under $165,000, more than three times the national figure, it ranks as the 10th-wealthiest community in the United States. An average household income closer to $200,000 is now required to break into the top 100 compared with about $190,000 in last years Bloomberg analysis. Hearst Magazine Media, Inc. All Rights Reserved. Yet, because we will follow anyone with a comparatively higher success rate than us, we still worship these people even as we don't know where our next paycheck will come from, while they worry about the size of the yacht they should be getting. Over 2.7 million people live in the MSA, which has seen a strong decrease in the salary over the previous year. 1 city on the list is Austin, Texas. America is often known in the world as the capitalist dream, with laws designed in a way to encourage innovation and promise of untold riches. From 2012 to 2022, Scottsdale saw an 88% millionaire growth rate and is home to 13,900 millionaires, 60 centi-millionaires, and five billionaires, according to the report. Use this visualizationNew York boasts the largest GDP of any metro area in the U.S. at $1.8T, the same size as the entire Canadian economy.Los Angeles also has a GDP over $1T, roughly the same size as Malaysia.Other large cities have enormous economies. Even smaller American cities have enormous economic weight. Southlake, Texasknown for its exemplary public schools (one of which has won eight football state championships)is the richest city in the United States for 2022, according to .css-7l5upj{-webkit-text-decoration:underline;text-decoration:underline;text-decoration-thickness:0.0625rem;text-decoration-color:inherit;text-underline-offset:0.25rem;color:inherit;-webkit-transition:all 0.3s ease-in-out;transition:all 0.3s ease-in-out;}.css-7l5upj:hover{color:#595959;text-decoration-color:border-link-body-hover;}24/7 Wall St., which used five-year estimates of median household income from the U.S. Census Bureaus 2019 American Community Survey (ACS). Areas with high median household incomes tend to consist of more married families than elsewhere in the country. More:What's the best place to keep money you need to use soon? Additionally, these cities have become prime retirement destinations, Andrew Amoils, head of research at wealth intelligence firm New World Wealth, who collaborated on the report with Henley & Partners, told CNBC. More:Is your city's population keeping pace? Destinations popular for affluent retirees were plentiful on this list, which was led by Atherton, California, with an average of $170,611 in passive income. The share of college-educated adults exceeds the national share in all but three of the wealthiest cities. The top 20 richest towns in America all boast average household incomes above $300,000, while the top five ring up above $400,000. 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, West University Place, Texas is a suburb of Houston and had an annual median household income of $205,135 and a poverty rate of just 2.3%. The area's high median income is partially attributable to a strong job market. Nationally, less than half of all households included a married couple. In Scarsdale, New York, the wealthiest city, 82.7% of households consisted of a married couple, and nearly half of those had children. Income inequality is a growing problem in the United States. Industry composition of these towns is also from the ACS. Some of these wealthy towns are just a short drive away from the poorest areas in the country. To highlight some of the factors that create hyper-wealthy townships, 24/7 Wall St. reviewed income data from some of the wealthiest towns, cities, and boroughs around the country. The average in Clarendon Hills, Illinois, about 25 miles west of downtown Chicago, jumped 15 percent in 2016 from the prior year to break into the top 100 for the first time with a tally of $199,325. The village is home to hundreds of wealthy businesspeople, athletes and entertainers. Bloomberg also ranked citiesby earnings from interest, dividends, rents, and royalties, as well as distributions from estates and trustsa subset of household income called passive income. Cities and towns in the tri-state area of Connecticut, New Jersey and New York accounted for 36 of the 100 top spots, the most concentrated area of wealth of any region. Lexington is northwest of Boston, just 10 miles from downtown. What survivorship bias means is that we tend to focus on the success stories i.e. Ask a Fool, More:As Trump blasts illegal immigrants, video captures man's N.Y. rant about Spanish speakers. The report finds that around 4% of New York's 8.38 million citizens own investable assets property, cash or stocks worth over $1 million. 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Major employers in the Denver metro area include defense contractors Lockheed Martin and Raytheon, financial services company Charles Schwab, several hospitals and health care providers, as well as technology companies like Oracle and Level 3 Communications. 84% of the families in the US have less wealth than the mean for the country. Most of these wealthiest communities have large populations of highly-skilled workers. ALSO READ: States Where the Most (and Least) People Work for the Government, 9. Los Altos Hills is home to numerous tech billionaires includingSergey BrinandYuri Milner. Sign up now:Get smarter about your money and career with our weekly newsletter, Top 10 U.S. towns where millionaires are buying second homes3 of them are in Florida, I flew first class for the first time everheres why the upgrade from economy was worth it, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. Southlake, located roughly 25 miles northwest of Dallas, is one of two exceptionally wealthy communities in the proximity of the metro area. NEW ALBANY, OH A Bloomberg report identified the 100 richest towns in America, and three Ohio cities made the cut. 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. ALSO READ: The Least Healthy County in Each State. Ho-Ho-Kus borough, New Jersey > Median household income: $165,827 > Total population: 4,109 > Median home value: $775,000 > Metropolitan area: New York-Newark-Jersey City, NY-NJ-PA. Partially as a result, the metro area is one of the best educated in the United States. The MSA makes our list of richest cities in the US, crossing the $85,000 threshold. Another way we looked at the data was to measure income disparity in each location. In 12 metro areas on this list, over 40% of adults have at least a bachelors degree. .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;}}The World's 10 Most Expensive Paintings, 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. The greater San Jose area isnt the only place where affluence is centered in California though. The San Francisco Bay Area which includes Silicon Valley rounds out the top three wealthiest cities, with 276,400 rich individuals, 12,890 of whom are multi-millionaires. As is the case in most high income areas, Trenton is home to a large college-educated population. Henley and Partner's 2023 wealth report found that America's fastest growing cities for millionaires all experienced a 70% millionaire growth from 2012 to 2022. WebThe list of Latin Americans by net worth is based on an annual assessment of wealth and assets compiled and published by Forbes Harshad shanthilal Mehta magazine in 2023. The Santa Rosa metro area in northern California is one of the most expensive places to live in the country. Its also saturated with celebrity homes. The report links this to major American companies moving their headquarters to these cities. 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