As the nations capital, D.C. is home to many high paying legal, governmentand other professional jobs. In 12 metro areas on this list, over 40% of adults have at least a bachelors degree. At least 30% of married couples in all of these areas had children as well. Homes in Orinda cost even more than properties in San Francisco, which is already one of the most expensive housing markets in the country. The absolute extremes of wealth and poverty are often found in the same area. The city is very family oriented, with 60.5 percent of the 6,414 households including children and 88 percent of homes inhabited by married couples. The climate of Alaska is not for everyone, with its frigid and dark winters and lukewarm summers. The wealthiest cities in the country also tend be geographically concentrated. 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. Some 42.7% of adults in Trenton have a bachelors degree or higher, compared to 31.3% of American adults nationwide. West Palm Beach also ranked as a top three city in the U.S. where millionaires are buying second homes. West Palm Beach, Florida, ranked second on the list. 1. Methodology: Data is from the U.S. Census Bureaus American Community Survey 2016 release of 5-year estimates and cities with populations under 20,000 were excluded from the list. 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. Unemployment rates are from the Bureau of Labor Statistics and are as of March 2018, the most recent period for which data is available. While just under 29% of adults nationwide had at least a bachelors degree, nearly 84% of University Park adults had completed at least a bachelors degree. Average household income: $405,073. 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. These two cities are a model case of income disparity in small geographic areas. Hartfords median income is bolstered by high paying industries. Click to continue reading and see the 10 Richest Cities in the United States Disclosure: No positions. Still, data can be subject to sampling issues. 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. Newcomers to the list include three areas in suburban Chicago. Lexington is northwest of Boston, just 10 miles from downtown. Area colleges and universities awarded 17,891 degrees in 2015 alone. In eight cities on this list, the typical home is worth over half a million dollars. 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. The education levels in these communities are especially high. The typical household in the Boston metro area earns $82,380 a year, or nearly $25,000 more than the typical U.S. household income of $57,617. In 1989, the bottom 90% had a third of all wealth, now down to a quarter. Raleigh is by far the wealthiest metro area in North Carolina and the 25th wealthiest in the United States. Los Altos Hills is a Silicon In the Baltimore metro area, 39.5% of adults have a bachelors degree, in line with the 39.3% bachelors degree attainment rate across Maryland. In some U.S. cities, however, more than half of all households earn well over $70,000 per year. 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 typical Fairbanks household earns $77,328 a year, nearly $20,000 above the median income nationwide of $57,617. 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. The typical San Francisco area household earns $96,677 annually. According to the report, the Texas city saw a millionaire growth rate of 102% from 2012 to 2022. Billionaires Row is part of Manhattan and is just a short stroll from Central Park. In Winnetka, however, the median home value was $936,200. Here are 30 great U.S. cities for older Americans, Want to be a high earner? The most prosperous metro areas in the country often have relatively strong job markets, as evidenced by low unemployment. Like many of the wealthiest cities, Ho-Ho-Kus levels of education surpassed national levels by a wide margin. Now the typical home value in Southlake is $1,047,548. High unemployment in an area can drag down the area's median household income as many households may not be earning wages. Like its neighboring wealthy communities, very few Essex Fells households reported low incomes. In the Minneapolis metro area, 40.5% of adults have a bachelors degree or higher, well above the 31.3% of American adults and the 34.8% of adults across the state with comparable education. 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 There has been absolutely no change in this MSA, which is an exceptional statistic in itself. The exception is the Seattle-Tacoma-Bellevue metropolitan area, which has a median household income of just under $80,000. While a healthy job market is important for any metro area's economy, the kinds of jobs available contribute significantly to income levels. 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. Despite being less wealthy than Westport, Wellesley's typical home value is $1,643,010 as of 2022, according to Zillow. Like Los Altos, Saratoga is another city in the greater San Jose area. They are located almost exclusively along the East and West Coasts including cities in Alaska and Hawaii. For this reason, all data used are five-year estimates for the period 2009-2013. Nationwide, 31.3% of American adults have a bachelors degree or higher. Of course, that is still several hundred thousand dollars above the national median home value of $176,700. 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. Nationally, 15.4% of the population lived below the poverty line. With more than half of all households in the metro area earning at least $75,000 a year, Napa, Calif., is one of the wealthiest metro areas in the United States. Scottsdale, Arizona, rounded out the top three fastest-growing cities in the U.S. for millionaires. Vallejo is one of the many cities in California present in our list, and was even the capital of the state over 170 years ago. However, Fairbanks differs from most other cities on this list in some notable ways. More:Teacher pay: States where educators are paid the most and least. While 86% of adults nationally had at least a high school diploma, at least 97% of adults in the wealthiest city did. Gini coefficient: a common measure of household income distribution, the ratio ranges from zero, which reflects absolute equality, to one, complete inequality. Orinda is located roughly a half hour outside of downtown San Francisco, just a few miles east of Berkeley. Top 5 fastest-growing U.S. cities for millionaires Austin, Texas West Palm Beach, Florida Scottsdale, Arizona Miami, Florida Greenwich and Darien, Connecticut The No. Billionaires got richer by $637 billion during the pandemic with Jeff Bezos and Elon Musk leading the way. 30 Richest Cities in the United States is originally published on Insider Monkey. The borough of Ho-Ho-Kus is in central New Jersey, roughly an hours commute from Manhattan. Average household income excluded households without any type of income. Like all of the wealthiest communities, Winnetkas population is highly-paid and highly-educated. 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. 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. The Chicago metropolitan area, where Winnetka is located, is not known for having a particularly expensive housing market -- the median home value there was just $206,300, 68th among large metro areas. The wealth distribution in America is incredible for all the wrong reasons. In Scarsdale, New York, the wealthiest city, 82.7% of households consisted of a married couple, and nearly half of those had children. In every metro area on this list, the typical home is worth more than $205,000 the national median home value. The San Jose metro area is by far the wealthiest in the country. 84% of the families in the US have less wealth than the mean for the country. Median household income: $224,485. Minneapolis-St. Paul-Bloomington, Minn.-Wis. Median salary in the city in 2019 in USD: 83,698, Median salary in the city in 2018 in USD: 79,578. Yet another New Jersey community to make this list of the wealthiest towns in America, Essex Fells is just a short drive west of Glen Ridge. Here is the list, Thinking about where to retire? Many of the top-paid employees in the New York metropolitan area work in finance, and Scarsdale also has a high concentration of employment in the sector. They also have a healthy job market and a concentration of industries that tend to pay higher wages. The median household income of $77,613 in Santa Cruz-Watsonville is the 12th highest of any metro area in the country and the fourth highest in California. 20 Richest Towns in The US 2022 - The Wealthiest Towns in There is nearly no poverty in the borough, with an estimated 0.7% of the population living below the poverty line. 25 of America's highest paying jobs. 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. 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. Homes are expensive in the New York area with a median value of $392,700. 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%. 10. 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