With a median income of $251,000 at the beginning of 2022, the town just edges out Woodside and Hillsborough. There isnt much need to introduce the City and County of San Francisco. Elon Musk Net. This list ranks the wealthiest cities in the US according to their median household income. In June, the holistic health institute she founded in Bentonville a year earlier was renamed the Alice L. Walton School of Medicine. Setup Size: 8.9 GB. Americans invest the majority of their non-financial assets in real estate. Ellison, who contributed $1 billion to Elon Musks Twitter bid, has reportedly been subpoenaed by Twitter in the messy legal battle over the deal. She finds almost all topics she writes about interesting, but her favorite subjects are travel and food. Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. Setup Type: Offline Installer / Full Standalone Setup. Knocked from the top spot for the first time since 2017, the Amazon founder and chairman saw his net worth drop $50 billion as the e-commerce giants shares tumbled more than 20%. As a SEZ, businesses in the area receive special treatment in the form of tax benefits, which helps increase the GDP bottom line immensely. Learn how your comment data is processed. The fifth wealthiest place on this list is the second wealthiest in New England, with 13.1% of households earning $200,000 and a 3.4% jobless rate. Unlike so many other cities bending under the weight of a post-pandemic world, Houstons economy hs gotten stronger. Large college-educated populations are common in the richest metropolitan regions. The median home value for the lower Tribeca area is around $2.5 million. Westport is a popular choice for people who want to work in New York City but live outside of it because of its location along the Long Island Sound and its proximity to the city, which is only 52 miles to the northeast. Boulders unemployment rate of 2.5 per cent is far below the national unemployment average of 3.8 per cent, and over two-thirds of individuals have a bachelors degree or above, compared to less than a third of Americans. Los Angeles, Chicago and Houston are the other U.S. cities in the top 10, ranking 6 th, 7 th,. Stamford is also a primary business hub in the region. In May, he was accused of sexually harassing a SpaceX flight attendant. That said, it isnt immune to the suburbanization that has overtaken the rest of the county. Over 22% of households earn $200,000 or more, and 50.1% of San Jose's education-driven populace boasts a bachelor's degree or higher. However, a sharp economic disparity runs through this metropolitan region, making it one of the worst in the country. Read More The 20 Best Places to Live in IllinoisContinue, Florida has the longest coastline of any state in the contiguous United States. With over 50% of adults bachelor graduates or higher, this area is one of the few in the country with over half of their adults highly educated. Keep in mind that state-owned corporations in China get tremendous government support no matter what the economic conditions, even Global 500 companies like SAIC Motor and China National Petroleum. In contrast, Nassau County shares the last third with Kings and Queens. This is a far higher proportion than in other cities, and much above the national average of 6.6 per cent. Oftentimes, it is overshadowed by its more famous neighbor. While wealthy and high-income Black people live all over America, the predominantly Black cities and towns with the highest median household income are all concentrated around Washington, DC and New York City. US households also commonly face large debt or liabilities like mortgages and student and car loans. The secretive siblings, whose grandfather created the Milky Way bar in 1923, together own an estimated two-thirds of Mars Inc. Jacqueline helped fund a sculpture of 140 migrants and refugees that was recently unveiled in a plaza at the Catholic University of America in Washington, D.C. Warren Buffet, Mackenzie Scott, Elon Musk, Illustration by Wesley Bedrosian for Forbes. The cities we're about to mention are pretty wealthy, overall. Additionally, the top 100 richest cities in the United States have quality school systems and proximity to city centers or high-profile companies such as Google or Facebook. Companies that have offices in Boston include BNY Mellon, Goldman Sachs and Microsoft. Like San Francisco County, Santa Clara County has benefited much from Silicon Valley. With a median household income of $114,696, it is the second richest city in the US. 1. Two months later, Bloomberg Philanthropies joined eight partners in pledging $1 billion to protect the ocean from climate change. Eight other top 20 tech billionaires, including Microsoft cofounder Bill Gates and Google cofounders Larry Page and Sergey Brin, shed $188 billion combined. This metro region, located just west of Los Angeles, offers a small vacation from the citys exorbitant home prices. 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. Although it may sound like another Cali metro for the fourth time on this list, the wealthiest metro area, located in Maryland, secures the tenth spot. With that said, the source of its affluence isnt exactly mysterious. Westchester County, New York (nine); Bergen County, New Jersey (seven); Fairfield County, Connecticut (five); Los Angeles County, California (five); Cook County, Illinois (six); and Montgomery County, Maryland (five). Unfortunately, the current law, federal and state taxes do very little for wealth distribution to accommodate low-earners. In the metro region, just 3.1 per cent of households earn less than $10,000 a year, compared to 6.5 per cent nationally. Some of the stores were also victims to the series of mass looting incidents that plauged major cities in 2021 and 2022. . Forsyth Countys past reputation isnt the best. Walton immediately became the richest NFL owner when he outbid groups led by fellow billionaires Josh Harris, Mat Ishbia and Jose E. Feliciano to buy the Denver Broncos in June for $4.7 billionthe most ever spent on a sports franchise. The 6,250 cities that met the criteria were then ranked based on their average household income to determine which cities were the 100 richest in the United States. In July, Gates announced he was shifting $20 billion of his fortune to the Bill & Melinda Gates Foundation. In contrast, the mean can give very misleading impressions where there are outliers in the population. Nowadays, it has other focuses, thus making it one more reminder of how much the United States has changed over time. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. The 10 Best Places to Live on the West Coast of Florida. We will make Chicago the safest city in America. The Rhine-Ruhr metropolitan area is the economic power house of Germany. Located in the Santa Clara Valley, San Jose is the richest metro area by far, with a median household income of $110,040, surpassing the runner-up by over $13,000. Cary, North. 1 spot. The U.S. Census Bureaus American Community Survey is the best source of information for this kind of question. Since then hes remade the team into a powerhouse, with a string of winning seasons and a glitzy new arena rising in the shadow of the citys sporting crown jewel: the $5 billion SoFi Stadium, the high-tech home for the NFLs Los Angeles Rams. For proof, look no further than the fact that it isnt home to a single city of significant size but is home to numerous commuter towns. Originally, Broomfield was situated in Boulder Countys southeastern corner. Top 100 cities with highest median household income Previous toplist Next toplist . In pre-Covid times, Chicago clocked round 55 million tourists in 2017. Unfortunately, San Francisco is also a reminder that numbers mean very little without their proper context. The area covers much of the innovative Silicon Valley tech hub, comprising the San Francisco Bay Area's southern reaches. In 2018, American households collectively held over $98 trillion in wealth. Let me help you to explore the richest neighborhoods in America. To even make the top 100, towns need an average household income of more than $220,000. The unemployment rate is also 2.7%, one of the country's lowest. But Atlanta is a city, Read More The 10 Richest Neighborhoods in AtlantaContinue, Surprisingly prison is not always as bad as expected. Most households in the metro region make more than $87,947 per year, and 13.7 per cent make more than $200,000 per year a higher percentage than all but six other metro regions in the US. Looking at the richest counties in the U.S., the No. All kinds of workers earn high wages for a relatively even income distribution, with 9.4% earning $200,000 or more. Known as a center of learning due to the many high caliber universities in the city such as Osaka and Kansai universities, Osaka attracts creative and innovative industries. After all, its Philadelphias rich history that fuels the tourist trade that brings over 2 million visitors from both the U.S. and foreign countries every year. That big gift accounts for most of the estimated $28 billion drop in his net worth over the past year. Originally, Broomfield was situated in Boulder County's southeastern corner. League City, TX. Only 32.2% of adults boast a bachelor's or higher, enough for the state's most demanded service jobs; fishing and tourism. Everything costs 25% more than the nationwide average, with tourists and locals alike having to cough up expensive goods and services, including living arrangements. The former Microsoft CEO has taken his energetic leadership skills to the NBA, after buying the Los Angeles Clippers for a then record $2 billion from the wife of embattled former owner Donald Sterling in 2014. No one gained more than Tesla and SpaceX chief Elon Musk, who tops the 400 for the first time, despite being weighed down by his $44 billion Twitter takeover, which hes been fighting to void. Even if city life doesnt appeal to you, the stunning Rocky Mountains are only an hour away. After adjusting for inflation, the average households purchasing power is around $63,900, which is just slightly higher than the national median yearly household income of $60,336.This town is home to the University of California, Santa Cruz, and roughly 44% of adults hold a bachelors degree. Marin County is right over the Golden Gate Bridge from the City and County of San Francisco. Well-paying government employment abounds, as one might anticipate. After all, it is home to Silicon Valley itself, meaning that it is home to one of the most important economic hubs on the planet. LONDON, Sept. 13, 2022 /PRNewswire/ -- The USA dominates the world's Top 20 Cities with the Most Millionaires in 2022, with New York taking the crown with 345,600 millionaires, and five other. Since her 2019 divorce from Jeff Bezos, Scott has been dropping billions at breakneck speed. Because many low- and middle-income residents have been priced out of the neighbourhood, the median household income is high, and unemployment is low. Agriculture employs 3.4 per cent of all workers in the area, more than double the national average of 1.7 per cent. The neighborhood of Los Altos, whose name translates to The Heights in Spanish, can be found on the western edge of Silicon Valley in the San Francisco Bay area. 3. The lower-than-average bachelors degree completion rate is most likely due to the kind of occupations available in the area. The average household in the region earns approximately $92,236 a year, which is $22,500 higher than the national average. The close proximity of Southlake to the Dallas Fort Worth International Airport, which opened in the 1970s and fueled the areas explosive growth throughout the 1980s, 1990s, and 2000s, is a major contributor to the citys current high standard of living. 24), cofounder of alternative investments giant Blackstone. New Orleans is the biggest name (and some say the biggest, Read More The 20 Best Places to Live in LouisianaContinue, Virtual real estate isnt a new concept. Chances are good that interested individuals can guess that Williamson County can be found in the Nashville metropolitan area. Calvert County is named for the Barons of Baltimore, who were around for six generations but managed to die out before the American Revolution. The county is home to numerous sites of note. Despite those staggering losses, the minimum net worth required to land among this ultra-elite group actually rose slightly, to $37 billion (up from last years record $36 billion), as six of the top 20 managed to grow their fortunes, including former New York City mayor and Bloomberg LP cofounder Michael Bloomberg, Koch Industries chairman and CEO Charles Koch and Julia Koch, the widow of Charles late brother David (d. 2019). In 2022, a small group of households in America holds 30% of the wealth (or $39 trillion). As such, it was named for the English county of the same name. Primarily, Fairfax County consists of suburbs. Devoted to encouraging economic development, Chicagos Department of Planning and Development has a number of economic development initiatives. China is crucial to the worlds supply chain, and Shenzhens container port is one of the largest. Should You Invest in Virtual Real Estate? Specifically, it takes up most of the peninsula that shields San Francisco Bay from the Pacific Ocean. The years biggest money loser was Mark Zuckerberg, who dropped out of the top 10 for the first time since 2014 as shares of Meta Platforms (formerly Facebook) cratered by 57%, helping lop nearly $74 billion off his fortune. That said, there are a few things that can be measured objectively: school quality, median household, Read More The 20 Best Places to Live in ColoradoContinue, Youd expect the richest people in Indiana to be clustered around Indianapolis. Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. According to Investopedia, Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a countrys borders in a specific time period. In this case, we are looking at the GDP of metropolitan statistical areas, and not countries. The Bay Areas high earners still prosper while living in houses that quadruple the median nationwide home value. New York City, USA: $1,330.000 Billion. San Francisco has one of the finest educated populations among metro regions in the country, and its incomes tend to climb with educational attainment. According to the latest data, one out of every 4.5 residents of the city lives in poverty. Another crucial element is the neighborhood of Zhongguancun. Liz Flynn has worked as a full-time writer since 2010 after leaving a career in education. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. Atherton, California Average household income: $525,324 2. Honolulu is the richest city in Hawaii and the ninth wealthiest in the United States. These are of very low quality and should be avoided. The housing costs are through the roof, with a typical metro area home selling for $658,900. A typical property in sunny San Francisco will set you back around $1 million, but thats not such a lofty request given the average household earns six figures. This included plans of action to assist with rent, taxes, business subsidies and more. This large metropolitan area has a history of being the hub of Germanys heavy industry sector. Located in the Santa Clara Valley, San Jose is the richest metro area by far, with a median household income of $110,040, surpassing the runner-up by over $13,000. Supposedly, one of the reasons for Williamson Countys high income is the number of musicians and other well-known individuals who have homes in the region. Cisco, eBay, Adobe, PayPal, Samsung, Acer, Hewlett Packard, and Zoom are just a few examples. . The result is a county with a large, affluent population. It should come as no surprise that University Park, which is home to the University of Maryland, has the highest education ranking in the country. 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