As of 2019 the citys population was just less than 30,000 with the poverty rate teetering at 4.4 percent. McLean is in Fairfax County, which is renowned nationally for its public schools. West Palm Beach, Florida, ranked second on the list. 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. These two cities are a model case of income disparity in small geographic areas. Darnestowns Gini coefficient is 0.37, the lowest of all 100 places. 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. A number of the wealthiest metropolitan areas in the country can be found on the West Coast, and nearly all of these in California. Just 1.9% of the areas labor force are out of work, the second lowest unemployment rate of any metro area nationwide and well below the 4.1% U.S. unemployment rate. Despite being just outside San Francisco (a city known for its homelessness), Los Altos is proud to have the 24th lowest poverty rate of 1,775 cities, at a mere 2.8 percent. New York City is home to a number of high paying industries most famously finance. One of the most impactful components of cost of living is housing costs. [3] Virginia has the most counties in the top 100 with 18. Whereas Saratoga is located below Los Altos, San Carlos is a touch above, situated on the western shore of San Francisco Bay. Part of greater Boston, Wellesley is home to three collegesWellesley College, Babson College, and a campus of Massachusetts Bay Community Collegewhich makes it no surprise that the city has the fifth highest percentage of adults with at least a bachelors degree. Every item on this page was chosen by a Veranda editor. 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. West Palm Beach, Florida ranked as one of the fastest growing cities for millionaires and a hot spot for their second homes. The report links this to major American companies moving their headquarters to these cities. The typical household in New Jersey earns $76,126 a year, or about $18,500 more than the typical American household and the third highest state median household income after only Maryland and Alaska. Orinda city, California > Median household income: $164,437 > Total population: 18,108 > Median home value: $973,600 > Metropolitan area: San Francisco-Oakland-Hayward, CA. The climate of Alaska is not for everyone, with its frigid and dark winters and lukewarm summers. And not just by a million or two. ALSO READ: The Least Healthy County in Each State. The absolute extremes of wealth and poverty are often found in the same area. Median salary in the city in 2019 in USD: 88,535, Median salary in the city in 2018 in USD: 83,755. New The Some 42.7% of adults in Trenton have a bachelors degree or higher, compared to 31.3% of American adults nationwide. Most wealthy metro areas are home to a relatively large share of college educated residents, but not California-Lexington Park. First, a high rate of two earners per household raises the median household income. This situation has worsened considerably in 2020. Old Westbury lies in the heart of Long Island, about 30 miles east of midtown Manhattan. Housing expenses are notably high, as the typical home value of just under $800,000 is about four times the U.S. median home value. 84% of the families in the US have less wealth than the mean for the country. Over 2.7 million people live in the MSA, which has seen a strong decrease in the salary over the previous year. 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. Some of the biggest companies with offices in the city include Roku, Sees Candies, and a handful of software companies (Saratoga is on the outskirts of Silicon Valley). The high incomes are partially offset by a high cost of living the highest of any U.S. metro area. 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. Imagine if there are 10 people, where 9 people earn $100,000 and the tenth person earned $10 million. San Francisco Bay Area, U.S. (276,400), 4. One reason for Southlake's wealth? How this 39-year-old earns $26,000 a year in California. Median household income: $73,231 Households earning Greater educational attainment can open the door to higher paying employment opportunities, and areas with large college-educated populations tend to report higher than average incomes. Incomes have been on the rise in the United States for the last several years, but of course income levels are not uniform nationwide. These are the 10 wealthiest cities in the world and the number of wealthy individuals who live in each of them according to Henley & Partners' report. those who made it rather than those who did not because of a lack of visibility. The typical Twin Cities household earns $73,231 a year, well above the median income across Minnesota of $65,599 and the median across the United States of $57,617. More:Despite overall sustained GDP growth in US, some cities still hit hard by extreme poverty. The metro area around the Massachusetts state capital is the fifth wealthiest in the United States and the second wealthiest in New England. 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. 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. In the United States, 31.3% of adults have a bachelors degree or higher. Partially as a result, the metro area is one of the best educated in the United States. Minneapolis-St. Paul-Bloomington is the only metro area in Midwest to rank among the wealthiest in the country. To calculate our rankings, we thought of several ways, including determining the richest cities by the number of millionaire or billionaires they had. Fairbanks is the second wealthiest metro area in Alaska and the 13th wealthiest nationwide. The rural community northwest of Washington sits along the Potomac River and is home to Bretton Woods Recreation Center, a country club for International Monetary Fund and World Bank staff. In Piedmont, a typical household earned $207,222. Companies like Amazon, Google, Meta, SpaceX, and Tesla have expanded their presence in the city. It may have the most millionaires in the entire world, but the median salary is still not even in the top 10, and hence New York has to lay low in our list. For the second year since Bloomberg started to compile the Richest 100, the nations top spot is Atherton, California. The median household income in Trenton of $77,650 a year is about $1,500 more than the statewide median and $20,000 more than the national median. Thanks to that influx, Austin has also become a growth market for luxury real estate, according to Henley and Partner's 2023 wealth report. This is why we selected the median salary. More than 30,000 people lived there as of 2019, with 68.3 percent of adults holding a bachelors degree. Web100 wealthiest cities (according to zip code) in the United States What are the wealthiest cities in the U.S.? Another city in Hawaii where the salary has decreased is Honolulu, which still has a quite high median income. To determine the richest towns in the country, 24/7 Wall St. considered median household incomes from the U.S. Census Bureaus 2013 American Community Survey (ACS). The area's median income surpasses incomes in the next wealthiest metro area nearby San Francisco by over $13,000. The cost of living across California as a whole is about 13% higher than average. What's the best place to keep money you need to use soon? And of the residents, women hold the majority, with roughly 92 men for every 100 women in the city. Two lake skips to the east of the center of Seattle, Sammamish is a suburb of the Washington metropolis but boasts a reputation of its own due to its low poverty rate, high education rate, and access to ample hiking trails. The nearby city of Newark, for example, had a nearly 30% poverty rate, 15.6% of households earned less than $10,000, and just 1% earned $200,000 or more. Scottsdale, Arizona, rounded out the top three fastest-growing cities in the U.S. for millionaires. The typical anchorage household earns about $25,000 more a year than the typical U.S. household income. A Division of NBC Universal. Brentwood, a suburb of Nashville, makes the list too. In nearby Garfield, New Jersey, 18.7% of adults had a bachelors degree. Income Inequality is becoming the most important economic topic going into this election cycle. by PopulationAustin, TX 978,908Jacksonville, FL 911,507Fort Worth, TX 909,585Columbus, OH 898,553Charlotte, NC 885,708San Francisco, CA 881,549Indianapolis, IN 876,384Seattle, WA 753,675Denver, CO 727,211Washington, DC 705,749More items Almost 20% of the countys households earn at least $200,000 a year, the third highest share among metro areas and triple the U.S. share. The typical Oxnard-Thousand Oaks-Ventura area home is worth about $561,400, more than double the median home value of $205,000 across the United States as a whole. The oil boom in Midland is the primary reason why Midland has such a high median income. Living in the city will cost you though. Housing is a significant component of the areas high cost of living. The success of these companies have made some of them cross the $1 trillion threshold, while the owners have made tens of billions of dollars, some even crossing a hundred billion in net worth. The truth is a complete 180 turn, with wealth inequality in the US being incredibly high. Just 7.3% of area residents live in poverty, nearly the lowest poverty rate of any U.S. metro area and about half the U.S. poverty rate of 14.0% and the California rate of 14.3%. Los Angeles, Chicago and Houston are the other U.S. cities in the top 10, ranking 6th, 7th, and 8th, respectively. 25 of America's highest paying jobs. The typical home in Boulder is worth $467,600, more than double the median home value nationwide of $205,000. Income inequality is a growing problem in the United States. As of March 2018, just 2.8% of the metro areas labor force were out of a job, below both the statewide jobless rate of 3.0% and the national rate of 4.1%. 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