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In others, a particular industry drives local wealth. This helps qualify Highland residents for the many high paying jobs available in the area, such as those in higher education, health care, and tech. That helps explain its inclusion on the list of small towns with high concentrations of millionaires. There's been a lot of panic surrounding the mass exodus of wealthy residents from New . The Golden State's reputation as a high-tax destination is built in part on how aggressively it goes after big earners, with a 13.3% tax rate that kicks in at $1 million (for single filers) of taxable income. By raw numbers, most millionaires in America can be found in and around big cities such as New York, Los Angeles and Chicago just as you would expect. Cashing in on George Floyd: T-shirts, pillows, running shoes and even underwear are being sold, Median household income: $151,055 (state: $48,486), Median home value: $441,000 (state: $137,200). 1 city on the list is . Corporate giants shouldn't be applauded for helping to solve crises their own policies have helped cause, writes Linsey McGoey. While many of the small cities and towns on this list have median home values of well over half a million dollars, in Brandon, most homes are worth less than $178,000. (See below for yet even more examples.) If there's a silver lining, it's that North Dakota is one of the nation's more tax-friendly states (opens in new tab). 10 Ridgewood, New Jersey . Check out the latest list of American small towns teeming with well-to-dos. The town's widespread prosperity suggests that Ocean Pointe is a desirable place to live. Glenwood Springs has collected many accolades over the years. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange and hosted a weekly video segment on equities. 11 March 2007: The tables provide GDP figures for cities and their surrounding urban areas in 2020. The Sunshine State is well known for its absence of a state income tax, which helps make it one of Kiplinger's 10 most tax-friendly states (opens in new tab). By Jeff Reeves Even in one of the wealthiest states, Greenville stands out as especially affluent. Centerton is the fastest growing small city or town in Arkansas and one of the fastest growing places in the entire country. Christian. High-end restaurants, plush lodges and spas are just some of the ways that millionaires can pamper themselves. Median household income: $156,205 (state: $70,116), Poverty rate: 2.1% (state: 11.5%), Median home value: $452,200 (state: $311,700). Most households in the area earn over $170,000 a year -- more than triple the median annual household income statewide of $55,000. Hampton is a small seaside Census-designated place of approximately 9,000 residents in Rockingham County. Dalton Gardens is north of Coeur d'Alene, Idaho, and across the border from Spokane, Washington, giving its residents access to two major population centers where they can find employment. America's 100 richest towns have been revealed by Bloomberg's annual index, with the highest-paid town averaging an income of over $500,000. The typical Whitefish Bay household earns $117,300 a year, nearly twice the $59,209 state median household income and the $60,293 national figure. The town is centered by Hidden Valley Lake. Jenks, Oklahoma, is located just south of Tulsa, so residents have access to the many high-paying jobs in the bigger city, in sectors like health care and aerospace engineering. If your ideal summer retreat is a lakeside getaway, you could hardly do better than Laconia. 65 Best Dividend Stocks You Can Count On in 2020. the Reasons To Do It, Making A Restaurant Thrive Finding The Best Chef, Critical Mistakes to Avoid in Strategic Communication, Overcoming the Challenges of Launching a Unique Business, Inclusion and Diversity at CEOWORLD magazine. Fairfield County towns have made yet another list of the richest places in the U.S. Naturally, this tony locale is not easy on the wallet, as evidenced by the exorbitant real estate prices. More than half of the 100 richest cities in the United States were in the New York City area or California. Demand for oil is gradually coming back, but it is by no means taking off. The best healthcare stocks offer investors a defensive hedge in an uncertain market. Atherton is a small neighborhood of about 7,000 people and it is located in the heart of Silicon Valley. The median annual household income in Ocean Pointe is $114,801, more than in any other small city or town in Hawaii. With an average household income of more than $525,000, it became the first and so far only community to . Belvedere, California is just north of Richardson Bay, across the water from San Francisco -- the second richest metro area in the country -- and within driving distance of San Jose, which is the richest metro area. Around 276,400 millionaires, 623 centimillionaires and 62 billionaires live in the San Francisco Bay area, which includes Silicon Valley. This city in the oil-rich Bakken Formation soon found itself home to fracking millionaires. In most states, the wealthiest town has a median household income that is two or three times higher than the median across the state as a whole. Not only is there no state income tax, but the government actually pays residents an annual stipend. The tiny town about 35 miles northwest of Santa Fe is home to a government nuclear weapons laboratory and a number of chemists, engineers and physicists. Greenville is a relatively short commute to New York City, providing its residents access to the many high-paying jobs. The county seat of Loudoun is in Leesburg, where most administration activities take place. Median household income: $133,768 (state: $68,374), Poverty rate: 2.6% (state: 10.3%), Median home value: $536,100 (state: $256,700). New Albany is a suburb of the Columbus metro area, located less than 15 miles northeast of the Ohio state capital. The typical Mississippi household earns just $43,567 a year, about $17,000 less than the typical American household. But the area offers a wealth of outdoor fun year-round. Warren Buffett Stocks Ranked: The Berkshire Hathaway Portfolio. By Jeff Reeves Below are the 11 Chicago area towns that made the list with their rankings. Genesee has a median annual household income of nearly $160,000, more than double the state median. Another attractive aspect of the area is that the City of Lebanon operates Storrs Hill, a 20-acre ski area that hosts three ski trails, two ski jumps, a surface lift and ski lodge. Relative to much of the country, median incomes do not vary much from place to place in Vermont. Realtor. The No. It is a short drive from Charlotte. For example, giant brands like The Coca-Cola Company (NYSE: KO ), Walmart Inc. (NYSE: WMT ), oil companies like Exxon Mobil Corporation (NYSE: XOM ), and many U.S.-based airlines, American . What had fueled this remarkable growth was oil, specifically the discovery of the Glenn Pool oil field in 1905. Darien is the wealthiest small municipality in one of the wealthiest states. The typical Hampton household earns $92,688 a year, the most of any small town in New Hampshire and far more than the $74,057 state median household income. Of all adults in the area, 38% have a bachelor's degree or higher, compared to 33.3% of adults statewide. For example, your friend asks you, "how much money do you have . The town of six square miles is near Palo Alto, Stanford University and . 100. worldwide. This city is in proximity to Los Angeles. The sun-kissed island and nearby neighbors offer a tropical paradise in the good ol' U.S. of A. West Virginia has the lowest bachelor's degree attainment rate of any state, at 20.3%. Elko's fortunes rise and fall with the price of gold, so one would hope that its millionaire population is properly diversified. This prosperity has likely attracted many new residents to Jenks -- the population grew by more than 24%, from less than 18,000 in 2013 to over 21,000 in 2018. While this is the record at the beginning of 2020, his salary will surely increase by the end of this year. Median household income: $80,135. The typical home in Rock Springs is worth $217,400, slightly more than the $213,300 state median home value. By Louis Navellier Its closest competitor, the quaint Hamptons village of Sagaponack, had a median price that, at $3.9 million, was about half of Atherton's. Keep reading for a closer look at the 27 most expensive . The area's high incomes are supported by access to high-paying jobs in nearby urban centers, which in addition to New York City, include Norwalk and Stamford in Connecticut. 27 / 52. Indeed, it's one of the more expensive cities in the U.S. Chalk it up to the remote location of Alaska's capital, which is tucked away in the southeast corner of the state hard against the Canadian border. More than 8,000 people call Upper Saddle River in Bergen County home. Thanks to its location on the Yampa river, Steamboat Springs is perfect for fishing, rafting, tubing and kayaking. According to Niche, the national percentage is 20%. Connecticut's median annual household of $76,106 is about $26,000 more than the median nationwide. Walmart is the largest employer in Benton County, where Centerton is located. Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016. In comparison with most other states, Mississippi's most expensive neighborhood isn't actually all that expensive especially when you consider that the median home value in Florida is more than $8 million. Raleigh-Durham International Airport. Atherton is a small neighborhood of about 7,000 people and it is located in the heart of . Bethany is the most affluent neighborhood in Oregon. In Tega Cay, less than 1% of residents live below the poverty line. The 25 Best Low-Fee Mutual Funds You Can Buy. Median household income: $74,172 (state: $43,567), Poverty rate: 3.8% (state: 20.8%), Median home value: $177,900 (state: $114,500). The town also has a poverty rate of 4.1%, less than a quarter of the state poverty rate which is 17.8%. We've rounded up the wealthiest citizens from 31 rich countries, including America, the UK, Canada, and Australia. Residents seeking a break from quaint New England living can drive to Boston in less than 90 minutes. Median household income: $93,364 (state: $51,424), Median home value: $205,100 (state: $130,900). Wealthy areas tend to be home to well-educated populations -- and Bloomfield Hills is no exception. The wealthiest 1% of Americans hold an amazing 40% of all wealth. No need to worry about health care, either. With an average household income of more than $525,000, it became the first and so far only community to top the half-million dollar mark since Bloomberg started compiling the index in 2017.