The 20 Wealthiest Cities in the United States (2023)

The wealth of a city or even an individual is relative to the city in which you reside. Those who live in San Francisco may have mortgage payments that require them to pinch pennies but, if they lived in Evanston, Illinois, their income would allow them to live large. Therefore, in what locations are people wealthy with regards to home value, income and credit availability? In order to judge this information, it is important to review Average Per Capita income, bachelor’s degree or higher and marriage percentage due to the likelihood of dual incomes.

According to the World Bank, the United States is the ninth wealthiest nation but since the 2008 recession, the distribution of wealth continues to grow. At the current moment, the wealth gap in the United States is the largest it has been in many decades. As expected the upper class holds a major percentage of the United States aggregate household income. During the past 40 years, there has been a drastic increase. In 2014, the upper class held 49-percent of the U.S. aggregate household Income which is up 29-percent since 1970. This leaves the question, which cities are the wealthiest?

The following is a list of the 20 wealthiest cities in the United States.

20: Piedmont, California

Rounding out the top of the list is Piedmont, California, one of many cities in California that have made this list. The Average Per Person Income among a population of 11,000 is just over six-figures at $101,800. The average income in California is just $30,000. The percent of residents with a Bachelor’s Degree or higher in the city is 84-percent and the marriage rate is 71-percent.

19: Short Hills, New Jersey

As one of the wealthiest cities in New Jersey, Short Hills has a population of around 12,700 residents and an Average Per Capita Income of $102,000 compared to the $36,000 Per Person Income in the rest of the state. The majority of the population commutes into New York City and have high paying jobs as a result of the 88.7-percent with a Bachelor’s Degree or higher. 73.4-percent of the population are married.

18: Glencoe, Illinois

With an Average Per Person Income of $103,000 and the State of Illinois has an Average Income of $30,000, the residents of Glencoe are living large. Located outside of Chicago, 85.3-percent of the population of Glencoe have a Bachelor’s Degree or higher and 73.7-percent have tied the knot.

17: Fox Chapel, Pennsylvania

Located just outside the Pittsburgh city limits, Fox Chapel, Pennsylvania boasts one of the highest Average Income levels in the state at $104,700 from a population of only 5,400 people. In comparison, the Pennsylvania Average Per Person Income is just under $29,000. 85-percent of the population have a Bachelor’s Degree or Higher and 70-percent are married.

16: Pelican Bay, Florida

Because of its beachfront property and beautiful winter weather, there tends to be a lot of money in Florida, even if much of it is from winter homes for the wealthy. With a population of 5,400, the Average Per Person Income of Pelican Bay, Florida is $105,500. While only 63.1-percent have a Bachelor’s Degree or higher and 78-percent are married, there are many retirees in the town which is the origin of a major portion of the wealth.

15: West University Place, Texas

With an Average Income of $106,500 among a population of 15,000 residents, West University Place, Texas has some really intelligent members of the community. 88-percent of the population have a Bachelor’s Degree or higher and 69-percent are married.

14: Bronxville, New York

Located north of New York City in Westchester County, New York, Bronxville is commonly on these types of lists due to their Average Per Person Income of $107,000 and 80.2-percent with a Bachelor’s Degree or higher. While only 61.6-percent of residents are married, a large portion of the money is derived from jobs in New York.

13: Kentfield, California

Boasting an Average Income of $110,000 with a population of 6,600, Kentfield, California has a 63.4-percent marriage rate and 76.5-percent have a Bachelor’s Degree or higher. Located in Marin County, North of San Francisco, Kentfield is located on the slopes of Mount Tamalpais making for beautiful views and sunsets.

12: Hunters Creek Village, Texas

Located in Harris County, Texas outside of Houston, Hunters Creek Village is a section of upscale residential communities known as Memorial Villages. Although it is an independent municipality, the addresses are considered to be in Houston. With an Average Income of $112,500 among a population of 4,500, Hunters Creek Village is one of the wealthiest communities in Texas and number 12 on this list. The percent of residents with a Bachelor’s Degree or higher is 84-percent and the percent of married residents is 74.4-percent.

11: Scarsdale, New York

As one of the wealthiest suburbs of Northern New York City, Scarsdale boasts a population of 17,400 and an Average Per Person Income of $113,500. 86.7-percent of the population have a Bachelor’s Degree or advanced degree and 73-percent likely have a dual income through legal marriage. Many of the residents of Scarsdale make their living in the City as the daily commute is only a short train ride into Grand Central Station.

10: Old Greenwich, Connecticut

Another wealthy suburb of New York City commuters and one of the richest in the entire State of Connecticut, Old Greenwich boasts an Average Per Person Income of $115,500. Meanwhile, the Average Income in Connecticut is $38,500. With only 6,520 residents, there is plenty of space for sprawling mansions. 84-percent of the people in Old Greenwich have a Bachelor’s Degree or higher and 71.3-percent are married.

9: Cherry Hills Village, Colorado

With only 6,234 people in the town of Cherry Hills Village, Colorado, the majority of the city is considered to be well-off. With an Average Income of $120,900, the residents of this sleepy city have significantly more money than the Average Income of Colorado which is $31,674. A major part of this wealth is that 77.5-percent of resident’s have a Bachelor’s Degree or higher. Also, at least 72.6-percent of the population have a dual Income through marriage.

8: The Village of Indian Hill, Ohio

With a small population of only 5,800 residents, The Village of Indian Hill, Ohio has an Average Per Person Income of $121,400 which is almost $100,000 more than the Average Income in the entire State of Ohio. With an 86.3-percent Bachelor’s Degree (or higher) Percentage and a 77.2-percent marriage rate, it’s no wonder this small Ohio city is on the list.

7: Los Altos Hills, California

Situated in Santa Clara County California, within the San Francisco Bay Area, is Los Altos Hills, one of the wealthiest cities in California and the United States. Boasting an Average income of $123,000, 82.8-percent of the 8,200 residents of Los Altos Hills California have earned a Bachelor’s Degree or higher. The percent of the population with a dual Income is 72.7-percent. In 2014, Los Altos Hills ZIP codes made an appearance on the Forbes list of America’s most expensive ZIP codes. The city has actually banned commercial zones with the only retail operation being the book store on the property of Foothill College. The town does not even have a library or post office. Town zoning laws require a minimum lot size of one acre and one dwelling on each lot which eliminates multifamily housing.

6: Highland Park, Texas

As one of the most affluent towns in central Dallas County, Highland Park, Texas is only four miles north of downtown Dallas. With 83.3-percent of the population of Highland Park having earned a Bachelor’s Degree or higher, it is no wonder this city is number six on the list. The average income of Highland Park is $124,000 and, when compared to the average salary in Texas of $26,500, there is a significant difference. The percent of married within the city is 66.7-percent.

5: Woodside, California

In addition to the many cities that have made this list from California, most are in the San Francisco Bay Area, including Woodside. With a population of 5,400 and an Average Income of $125,000, Woodside is another California city that is a haven for the wealthy. The percent of the population with at least a Bachelor’s Degree is 69.4-percent and those who are married make up 62.6-percent. The city is home to many Silicon Valley elite since it is an easy commute to work. There is an intentionally small business district which only includes a few restaurants, saloon, grocery store, horse tack store, cleaner, post office and gardening store. Horses are major part of the local culture with multiple residents keeping horses and there are horse trails around the city.

4: Hillsborough, California

Here, the Average Per Person Income in Hillsborough, California is just under $128,000 with a population of 11,148. It is the wealthiest community in the United States with a population over 10,000 residents. The city also holds a high percent of residents with a Bachelor’s Degree or higher at 75.7-percent. The percent of married couples is 71.2-percent in the city. The landscape is dominated by large homes as zoning ordinances require a 2,500-square-foot minimum and a lot size of at least 0.5 acres. Therefore apartments, townhouses and condominiums do not exist within the city limits.

3: Palm Beach, Florida

It is of no surprise that Palm Beach, Florida is in the top five as it has always been a haven for the rich. With a small year-round population of 9,000, the Average Income is $129,941 compared to the Averag eIncome in Florida which is $26,499. It is estimated that during the peak season, the population of Palm Beach swells to around 30,000 and brings in a large amount of money to the city and state. 61.3-percent of the resident population holds a Bachelor’s Degree or higher and 57.9-percent are married. Around a decade ago, Robb Report Magazine reported that Palm Beach was America’s Best Place to Live as a result of the city’s affluence and abundance of pleasures while still maintaining a strong community-oriented sensibility.

2: Atherton, California

Yet another city in California near San Francisco is Atherton, which is second on this list. Incorporated in 1923, Atherton is number 2 on Forbes most expensive zip codes. The city is the most Republican political subdivision in the highly Democratic San Mateo County. Studies show that 41-percent of the city’s population are Republican, 32-percent are democrat and the other 23-percent declined to participate in the study. This is one of the few remaining cities in the Bay Area to have a plurality of registered Republican voters. The population is 7,000 and the Average Income is $144,197. The percent of the population that is married is 63-percent and the percent with at least a Bachelor’s Degree is 83.3-percent.

1: Portola Valley, California

Named after the Spanish explorer Gaspar de Portola and boasting a population under 4,500, Portola Valley, California is the richest city in the United States. Located on the San Francisco Peninsula, Portola Valley has the zip code 94028 which is comprised of the entire Portola Valley and has the 9th most expensive housing prices in the United States. The Average Income is $152,128 compared to a the same metric in the State of California which is $29,900. The percent of the population that hold a Bachelor’s Degree is 78.6-percent and 64.9-percent of residents are married.