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.
What is the richest city in America 2022? ›
Loyola, California, is the richest neighborhood in America. The average household income in Loyola is $326,069, with the median income a little lower at $246,563. The median listing price is $3,899,000. Loyola also borders Los Altos Hills, which is one of the richest towns in America.What is the wealthiest city in the United States? ›
New York City — home to more than 345,000 millionaires — is the wealthiest city on Earth, according to a new report.What are the top 10 richest cities? ›
- San Francisco Bay area. 276,400 millionaires. ...
- London. 272,400 millionaires. ...
- Singapore. 249,800 millionaires. ...
- Los Angeles. 192,400 millionaires. ...
- Chicago. 160,100 millionaires. ...
- Houston. 132,600 millionaires. ...
- Beijing. 131,500 millionaires. ...
- Shanghai. 130,100 millionaires.
- #1: New York. New York is the wealthiest city in the world—home to 345,600 millionaires with a total private wealth that exceeds $3 trillion. ...
- #2: Tokyo. ...
- #3: San Francisco Bay Area. ...
- #4: London. ...
- #5: Singapore.
- 1 /11. Top 10 cities with the most billionaires (2022) ...
- 2 /11. United States' most populous city, New York City tops the list with 106 billionaires. ...
- 3 /11. Second on the list was China's capital Beijing with 83 billionaires. ...
- 4 /11. ...
- 5 /11. ...
- 6 /11. ...
- 7 /11. ...
- 8 /11.
- New York – 1,705,127 million.
- Florida – 1,111,614 million.
- Illinois – 875,671 million.
- Pennsylvania – 788,500 million.
- Ohio – 683,460 million.
- Washington – 632,013 million.
- Georgia – 627,667 million.
- New Jersey – 625,659 million.
With an estimated GDP of $310 billion, Mumbai ranks number one in the list of the richest cities in India.What city produces the most millionaires? ›
Although New York lost 12% of its wealthiest residents in the first half of 2022, according to the report, the Big Apple is still the city with the most millionaires in the world. However, other cities are catching up to New York and could overtake its top spot over the next few years.What is the Number 1 Best city in America? ›
Topping our list yet again is Charleston, South Carolina, which has been voted the best American city for 10 years straight, making it a World's Best Awards Hall of Fame honoree.Which city do billionaires live? ›
Where do most billionaires live? ›
Looking at cities, New York is home to the most billionaires—with 13 added billionaire residents last year—followed by Hong Kong. U.S. U.S.Where is the richest spot on earth? ›
“New York is the financial centre of the USA and the wealthiest city in the world by several measures. Perhaps most notably, total private wealth held by the city's residents exceeds US$3 trillion – higher than the total private wealth held in most major G20 countries.”Which is the No 1 city in the world? ›
According to the latest survey by real estate and tourism consultancy Resonance, London has been named as the best city in the world for 2023, beating Paris, New York, Japan, Singapore, Bangkok, Hong Kong and many other popular cities across the globe.Which is the wealthiest cities in the world in 2022? ›
Based this, New York ranks as the richest city with the number of millionaires residing here as high as 345600. Tokyo, San Francisco Bay area and London ranks second, third and fourth respectively as the wealthiest cities in the world.Where do the wealthiest live in the US? ›
As of March 2022, California was the U.S. state with most billionaires, with 186 billionaires calling the state home. New York was second, with 135 resident billionaires which was a larger jump over third-placed Florida, with 78.Where do most rich people live in the US? ›
New York City is home to more rich people than any other city in the world, according to a new report by investment migration consultancy Henley & Partners.What state has most millionaires? ›
|#||State||GDP per capita|
Top 12 Richest States in India By GDP 2023. 1. MAHARASHTRA: Maharashtra: Maharashtra is considered the richest state in India. Maharashtra boasts of a GDP of about Rs 26.33 lakh crore as of 2018-19.What state brings in the most money? ›
In the fiscal year of 2021, the state of California collected a total of 248.19 billion U.S. dollars in tax revenue, the highest of any state.
What is the richest small town in America? ›
These Are the Best US States to Become a Millionaire.
|Rank||State||Number of millionaire households|
1. Savannah, Georgia. Earning the top spot among the friendliest cities in the U.S., Savannah made quite an impression on travelers this past year. It's hard to say what exactly makes the locals here so happy.What is America's safest city? ›
Coming in at the top of the list as the safest city in America is Columbia, Maryland. A planned community, Columbia is located between Washington D.C. and Baltimore and is a sister of The Woodlands in Texas, which was named the best place to live in America in a recent report.Where do the elite live? ›
An overwhelming majority (approximately 96 percent) of the top 1 percent are concentrated in major metropolitan areas such as San Francisco, Washington, DC, New York, and Los Angeles. However, a few outliers exist in suburban and even rural areas.Where are rich people moving? ›
|Country||Projected net inflows of HNWIs (2022)||% of HNWI Gained|
- St. Kitts. ...
- Monaco. ...
- Lake Como, Italy. ...
- Lake Tahoe, United States. ...
- Swiss Alps, Switzerland. ...
- The Hamptons, United States. ...
- Azores, Portugal. ...
- Ibiza, Spain.
Private equity and hedge funds sit adjacent to securities and trading markets. While they aren't the same thing, these two types of investment tools are popular among billionaires. They appeal to people of high net worth who can afford large investments and higher risk.What state does not have a billionaire? ›
The only states where you won't find a billionaire are Alabama, Alaska, Delaware, New Hampshire, New Mexico, North Dakota, Vermont, and West Virginia. Another eight states host just one billionaire. They include Idaho, Iowa, Maine, Kentucky, Louisiana, Rhode Island, South Dakota, and South Carolina.
Where do the rich live in Florida? ›
The richest city in Florida is Palm Beach. The median household income in Palm Beach is $169,500. It's also the Florida city with the most billionaires, with an estimated 30 billionaires living in Palm Beach as of 2022. Palm Beach's population is 14,780, and it is well-known for its incredible beachfront mansions.What are the 3 most popular cities? ›
|1||New York||New York|
- London, England. Highlighted rankings: Nightlife (1), Museums (1) ...
- Paris, France. Highlighted rankings: Sights and Landmarks (1), Shopping (2) ...
- New York City, United States. Highlighted rankings: Promotion (2), Culture (2) ...
- Tokyo, Japan. ...
- Dubai, United Arab Emirates. ...
- Barcelona, Spain. ...
- Rome, Italy. ...
- Madrid, Spain.
The top four cities on the list—New York, London, Paris, and Tokyo—are unchanged from 2021 (see figure 1).What is the most beautiful city in the world 2022? ›
Overall, Edinburgh, Scotland was named the best city in the world. “The city ranked highly across the board, topping the global chart as the most beautiful and the most walkable city in the world,” says Gleason.What is the fastest growing city in the US 2022? ›
- Myrtle Beach, SC.
- Lakeland, FL.
- Boise, ID.
- Ocala, FL.
1. London. As the “capital of capitals” negotiates the uncharted, perilous terrain of a post-Brexit and pandemic world, London continues to reign as the planet's best cities for the seventh year running.What are the 5 richest cities in America? ›
- Atherton, CA ($450,696)
- Scarsdale, NY ($417,335)
- Cherry Hills Village, CO ($394,259)
- Los Altos Hills, CA ($386,174)
- Hillsborough, CA ($373,128)
- Short Hills, NJ ($367,491)
- Highland Park, TX ($358,994)
- Darien, CT ($341,090)
- United States: $20.89 trillion.
- China: $14.72 trillion.
- Japan: $5.06 trillion.
- Germany: $3.85 trillion.
- United Kingdom: $2.67 trillion.
- India: $2.66 trillion.
- France: $2.63 trillion.
- Italy: $1.89 trillion.
What is the number 1 Best city in America? ›
Topping our list yet again is Charleston, South Carolina, which has been voted the best American city for 10 years straight, making it a World's Best Awards Hall of Fame honoree.What is the number 1 most beautiful city in the world? ›
1. Rome, Italy. At number one you voted Rome as the most beautiful city in the world. With its thousand-year-old buildings such as the Forum Romanum or the Colosseum, beautiful piazzas and world-class art – not to mention Vatican City – we are certainly not surprised.What are the next boom cities? ›
- Austin, Texas. Current population (city): 961,855. ...
- Raleigh-Durham, North Carolina. Current population (city): 467,665 / 174,762. ...
- Orlando, Florida. Current population (city): 307,573. ...
- Charleston-North Charleston, South Carolina. ...
- Houston, Texas. ...
- Sarasota-Bradenton, Florida. ...
- San Antonio, Texas. ...
- Dallas-Fort Worth, Texas.
The city of love conquers all. Paris, France, has secured the No. 1 spot as the best city in the world, according to Euromonitor International's Top 100 City Destinations ranking.What is the number 1 place to live in the world? ›
For the third time in five years, Vienna has topped the list of most livable cities.Where do most billionaires live in USA? ›
San Francisco has the most billionaire residents of any city, and New York has the most millionaires.Where do millionaires live in USA? ›
Unsurprisingly, New York sits at the very top of the list, with 345,600 high-net-worth individuals. Tokyo (304,900 HNWIs) and the Bay Area (276,400 HNWIs) came in second and third, respectively.What is the wealthiest state? ›
Richest State in USA
This means that New York is responsible for around 9% of America's entire economic output, the highest percentage amongst the 50 states. The Empire State also has some of the highest average incomes in the nation, with a median household income of nearly $72.9k and per capita income of $96.5k.
The richest president in history is purported to be Donald Trump. His net worth, however, is not precisely known because the Trump Organization is privately held.What country has the richest citizens? ›