Moving from West to East, America's second richest town is Scarsdale, New York, which is just 35 minutes outside of New York City. These GMP per capita figures help uncover underlying economic trends, which are often masked by the population inflows and outflows that affect . 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 24/7 Wall St., which used five-year estimates of median household income from the U.S. Census Bureau's 2019 American Community Survey (ACS). Along those lines, Sunnyvale sits in a good neighborhood. Pennsylvania. Newcomers to the list include three areas in suburban Chicago. #9. According to Zillow, the 2022 median home value is $1,112,584. Athertons average household income was $443,403 in 2016, more than $50,000 higher than second-place Cherry Hills Village, Colorado. #7. Less than 15 miles outside of Cincinnati, this Hamilton County, Ohio, town was developed in the early 20th-century by a handful of wealthy businessmen who already owned property there. Of the 2,668 billionaires on this years billionaires list, almost a quarter of them live in just 10 places. Just seven miles from Houston, this Harris County, Texas, town was developed in 1917 and is named for its close proximity to Rice University. The Midwest is also home to some of the lowest incomes, such as Michigans Highland Park, Missouris Cuba and Ohios East Cleveland. In December 2022, Austin was home to 30,500 millionaires, 86 centi-millionaires, and nine billionaires. The loss of 17 billionaires includes Kate Wang, the founder of Chinese vaping giant RLX Technology, and Will Wei Cheng, the CEO of ride-hailing firm Didi Global, whose fortunes both fell below the three-comma threshold. She writes for a variety of publications, primarily covering womens interest topics. Several well-known actors, such as Charlton Heston, Rock Hudson, Virginia Madsen, and Chris ODonnell, have called the Chicago suburb home. #3. It's a different type of place from the rest of the state. Shanghai lost fewer billionaires than other Chinese cities but still saw its stable of super-rich residents drop, from 64 to 61. New York gained eight new billionaire residents over the past year, more than any other city on the list. Bloomberg released its annual Richest Places index, revealing the wealthiest towns in the US. 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. California. The best-known estimate is by Forbes. The organization cites . Whatsapp founder, Jan Koum, paid $57 million for a mega-compound. University Park is best known for being home to Southern Methodist University, a nationally ranked private university in the suburbs of Dallas. Opinions expressed by Forbes Contributors are their own. Diogenes the Cynic may well have had much to teach Elon Musk, the modern day Alexander the Great, write Massimo Pigliucci and Existential Comic creator Corey Mohler. This is followed by Los Angeles with 52 billionaires, and San Francisco and Chicago, who each have 44 billionaires. We aim to deliver bite-sized pieces of infotainment about where you live. Seouls three billionaire newcomers (the fourth is a returnee) are all self-made: Covid-19 testing entrepreneur Cho Young-sik, fintech startup founder Lee Seung-Gun and gaming mogul Park Kwan-ho. Tied as the citys richest residents are Kim Beom-su, the founder of Kako, South Koreas biggest messaging app, and Jay Y. Lee, the vice chairman of Samsung Electronics, who are worth an estimated $9.1 billion each. Bloomberg released its annual list of the richest town . 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. No wonder rich tech executives and investors have landed in Sunnyvale. The Old Greenwich Station, a commuter rail station that delivers residents to nearby New York City, was built in 1872 and is listed on the National Register of Historic Places. Glencoe, IL (income: $358,543/ bailout: $4.4 million) Situated on Lake Michigan and just north of Chicago, Glencoe is the richest town in Illinois. According to a recent study, if you earn about $95,000 a year, you're optimally happy. 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;}}The Krehbiels' Collection Goes to Auction, 10 Dinner Party-Worthy Items I'm Obsessed With. 2023, Paper: "The annual Forbes magazine's lists of the wealthiest individuals in the world are a widely used source of data about the dynamics of wealth concentration. And, to be clear, we measured the 306 largest cities in America with over 100,000 people. Highland Park is also famous for serving as a filming location for the 1980s hit television show Dallas. West Palm Beach, Florida, ranked second on the list. Los Altos Hills, CA (income: $405,073/ bailout: $4.2 million) With a median home price of $3 million, the community is located just five miles from Silicon Valley. Perhaps. At one point or another, Dolly Parton, Taylor Swift, Keith Urban, Sheryl Crow, and Eli Manning have all called the upscale city home. Close behind is Los Angeles at $2.3 trillion, while San Francisco ranks third at $1.3 trillion. Average household income excluded households without any type of income. Not surprisingly, many of the richest cities are wealthy suburbs of major cities, such as Winnetka, Illinois, a suburb of Chicago and home to the iconic house in Home Alone. Some rich cities are the suburbs of more than one city, such as Atherton, California, which stands between two insanely-expensive cities, San Francisco and San Jose. Of Potomac residents with a minimum 10-figure net worth, Mitchell Rales is the wealthiest, worth an estimated $1.4 billion. Rebecca R. Norris is a full-time freelance writer living in the DC metro area. The Richest Women in America in One Graphic The majority of the world's billionaires hail from the United States. And while there are wealthy towns all across the country (these are the richest town in each state ), the. This rich little enclave is just outside of Houston. Just click a pin (by state) and scroll down to see the results rendered in alphabetical order in the chart beneath the map. The 10 Richest Cities In Georgia For 2023 1. . This southern Westchester County, New York, town is just 15 miles from Midtown Manhattan, which means its residents have easy access to the city and all the trappings of wealthy small-town lifecharming residential architecture, a walkable town center, and great public schools. Here are Forbes' wealthiest Africans for 2023. People come here to find jobs and for a more peaceful and better quality of life. All four showed gains in household earnings from 4 percent to 15 percent from the prior year. 6. Lexington is northwest of Boston, just 10 miles from downtown. Take a look at the magazine's 2018 list of cities where African-Americans are doing the best economically 8. This is our ninth time ranking the. In the latest edition of the ranking, North America has a strong showing with seven of the wealthiest cities, by number of millionaires. Looking at the poorest cities in the U.S., there are certainly some geographic patterns that emerge. Despite the heightened competition, media magnate Michael Bloomberg remains the richest resident, accounting for some 13% of the city's total billionaire wealth. The demographics of the United States are always changing. Most of the well to do here frequent Whole Foods, Starbucks, Core Power or LuLuLemon. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. Rich people can spend all their money and then they're broke. Despite the heightened competition, media magnate Michael Bloomberg remains the richest resident, accounting for some 13% of the citys total billionaire wealth. Based on the 2019 five-year ACS data, many cities in America were noticing a massive rise in income, with much of the wealth concentrated in Californiaa whopping nine of the 25 richest cities in the U.S. are located within the state. To help us get closer to The Highland Project's work, Founder and CEO Gabrielle Wyatt took time to share words that inspire her vision for an America that abundantly invests in Black women in . Scottsdale, Arizona, rounded out the top three fastest-growing cities in the U.S. for millionaires. Population: 234,829Rank Last Year: 2 (Down 3)Median Income: $142,374 (2nd best)Unemployment Rate: 4.0% (36th best)More on Fremont: Real Estate|Crime|Cost Of Living. 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. Does being rich make you a happier person? Its situated below the southwestern shore of San Francisco Bay. 4. 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. Population: 193,412Rank Last Year: 7 (Down 2)Median Income: $87,629 (46th best)Unemployment Rate: 3.2% (5th best)More on Overland Park: Real Estate|Crime|Cost Of Living, Population: 105,410Rank Last Year: 25 (Up 15)Median Income: $108,979 (14th best)Unemployment Rate: 3.9% (32nd best)More on League City: Real Estate|Crime|Cost Of Living. where the concentration of wealthiest cities is the densest). Twenty-one of the cities were in California, with the majority in the San Francisco Bay area. Scarsdale, New York Average household income: $452,041 3.. For this analysis we used the -- U.S. Census 2016-2020 American Community Survey. 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. . According to Forbes' Real-Time Billionaires Rankings, as of February 2020, New York City is the American city with the most billionaires, with 82 billionaires. And as demographics change, so do patterns of wealth. Figure 3. Cities like New York City and L.A. might be some of the wealthiest in America, but it's smaller cities that are becoming more and more appealing to millionaires. Our next stop, Fremont, California, probably won't come as a surprise to anyone who lives in the state. To even make the top 100, towns need an average household income of more than $220,000. (Photo by Justin Sullivan/Getty Images). As one of the densest cities on this listwith 60,257 residents as of 2019its not entirely shocking that of all the richest cities in America, Cupertino has one of the highest poverty rates at 6 percent. The town ofsix square miles is near Palo Alto, Stanford University and Menlo Park, the home of Facebook and other tech ventures. A new report ranks the friendliest cities and regions in the world Skip to main content LinkedIn. As of 2019 the citys population was just less than 30,000 with the poverty rate teetering at 4.4 percent. 10 spot in 2021. In these wealthy communities, the average household income ranged from #1 Atherton, CA ($525,324) to #50 Darnestown, MD ($262,988). Billionaire Trader Ken Griffin Navigates A Flock Of Black Swans. You'll recognize some of the top people, like Bill Gates (Seattle) and Phil Knight. It's the kind of place where you see soccer moms running errands in the middle of the day, where landscaping crews do their duty, and where the everyone's biggest concern is who is going to try and take their money away from them. According to Zillow, the average home value price in the Arizona cityis$750,908,up6.3%over the past year. Vlad Yatsenko, the chief technology officer of digital banking giant Revolut, and Denis Sverdlow, who founded the British electronic vehicle manufacturer Arrival, are other new billionaires who live in London. Companies like Amazon, Google, Meta, SpaceX, and Tesla have expanded their presence in the city. 2. Some notable Americans who have called the Essex County, New Jersey, town home include actress Anne Hathaway and fashion designer Rachel Zoe. So, we mapped $400 billion in HEROES Act monies that are allocated to 39,000 local governments. Yeah they are. According toSotheby's listings, homes are currently on sale in the area ranging from $1.9 million to $89 million. London rose to No. Balanced by three dropoffs, Mumbai actually welcomed six new billionaires over the past year, including Falguni Nayar, who became Indias richest self-made woman, with an estimated net worth of $4.5 billion, after taking her beauty-and-fashion retailer Nykaa public in November. 6 after losing nine billionaire residents over the past year. This button displays the currently selected search type. Population: 169,177Rank Last Year: 5 (Up 4)Median Income: $107,463 (18th best)Unemployment Rate: 3.3% (6th best)More on Cary: Real Estate|Crime|Cost Of Living. They have to be doing something right in here. A recent Bankrate report states that the median sale price for a home in Austin as of January 2023 was $530,000, according to Redfin data. Musk's estimated net worth is $251 billion, which is over 13 times richer than Dalio, the richest person in Connecticut. How does 20% of Kansas rank as the wealthiest cities in the nation? Bucking the trend, Shanghais richest person, Liu Yongxing, the chairman of agriculture and chemicals firm East Hope Group, more than doubled his fortune to an estimated $13.2 billion. The wealthiest Americans on the annual Forbes 400 list grew their combined net worth by just over 2 percent from the previous year, making them worth $2.96 trillion in 2019. However, when it comes to the highest concentration of . MINNEAPOLIS--(BUSINESS WIRE)--Ameriprise Financial Inc. (NYSE: AMP) today announced that 135 of its financial advisors were named to the Forbes "Top Women Wealth Advisors Best-In-State" list . #5. Another way we looked at the data was to measure income disparity in each location. Forbes en Moses Lake, WA Ampliar bsqueda. It's pretty easy to see where the richest people live. Region: Billionaires: New York United States: North America: 107 . Forbes in Boydton, VA Expand search. It's safe. Only Shanghai moved up a place in the rankings, to No. Twenty-six others fell off the billionaires' list altogether, including Oleg Tinkov, the founder of digital bank Tinkoff; the sanctioned billionaires Andrei Molchanov and Dmitry Pumpyanskiy; and Arkady Volozh, the founder of Yandex, the Russian equivalent to search engines like Google and Yahoo. According to Zillow, homes in San Carlos cost around $2,400,000 as of 2022. Laureen Mcgowan / Eyeem | Eyeem | Getty Images, How this FIRE couple retired in their 30s with $870K in Arizona, How this 39-year-old earns $26,000 a year in California. 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. 10. 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. Vladimir Lisin, the chairman of steel products manufacturer NLMK Group and Moscows richest person, shed about $8 billion of his personal wealth. . The stalling tourism industry knocked casino billionaires Ina Chan and Lawrence Ho, as well as hotel magnate Zhao Tongtong, from the citys super-rich ranks. Great schools. Would you have guessed Detroit, Cleveland and Hartford, Connecticut? Source: Bloomberg analysis of data by the U.S. Census Bureau. This survey evaluated inflation-adjusted household income data for America. It's safe, friendly, and there are great schools. The index ranks the wealthiest communities in the US by average household income. Residents of Darnestown, Maryland, are most likely to sport similar paychecks, according to Bloombergs calculation of the Gini Indexa common measure of income distribution among a population. League City, TX Median Income: $108,979 Unemployment Rate: 3.9% Population: 105,410 View this post on Instagram A post shared by Visit League City (@visitleaguecity) 9. This Fairfield County, Connecticut, town lives up to its name: It was founded in 1641. When you think of wealthy areas in California, some people may think Beverly Hills or Sunnyvale. 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. Households here make earn the 2nd highest incomes. Los Angeles, home. Notable residents include CEOs, actors, pro sports players, and authors. O ut of the 2,095 members of the 2020 Forbes World's Billionaires. Located less than eight miles outside of Denver, this Arapahoe County, Colorado, town is home to two former NFL quarterbacks: John Elway and Peyton Manning. Four of those six states are in the U.S. South. These are the 25 richest cities in America . Atherton isnt the only rich suburb to receive bailouts from American taxpayers. And about an hour north, you'll find San Francisco, the crown jewel of the Bay Area. I think that's a safe bet. For listings in Canada, the trademarks REALTOR, REALTORS, and the REALTOR logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Its also saturated with celebrity homes. I cover real estate, economics and cost of living. Now the typical home value in Southlake is $1,047,548. Millionaires and Billionaires in the Wealthiest Cities. McLean has a low poverty rate (2.7 percent) and a high median home value ($1,031,200 in 2019 and $1,226,956 in 2022, according to Zillow) and has been home to many high-ranking public officials, including President Joseph R. Biden, Jr. and First Lady Dr. Jill Biden. You won't see condos here. Many renowned architects have also designed homes and churches in Winnetka, including George Washington Maher, Howard Van Doren Shaw, Solon S. Beman, and David Adler. In real estate, your neighbors matter. Atherton, California, is the richest town in America with an average annual household income of $525,000. Gini coefficient: a common measure of household income distribution, the ratio ranges from zero, which reflects absolute equality, to one, complete inequality. A hub for self-made billionaires, Chinas Silicon Valley'' fell to No. The richest communities in America for years have been in Silicon Valley and the New York City area. 2015-2023 Chasing Chains, LLC. The median household income is $94,027, and the median home value is $503,000. Now the Midwest is starting to make some noise. Folks here rank 19th for income levels, and 2nd-lowest for number of people living in poverty (3.51%). If you guessed the wealthiest city in California was in the Silicon Valley area, then you guessed correctly! Here is the list of top 14 wealthiest towns in America as of March 2023 1. Sir Anthony Ritossa is Chairman of the Ritossa Family Office, headquartered in Dubai. Los Altos is located in the northern silicon valley of the San Francisco Bay Area (Santa Clara County). Back . Unemployment and poverty rates are low. From 2012 to 2022, the Florida city saw a millionaire growth rate of 90%. Looking at the poorest cities in the U.S., there are certainly some geographic patterns that emerge. A new report ranks the friendliest cities and regions in the world. Just down the road, you have Palo Alto, the heart of Silicon Valley. 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.