Here are the top 10 wealthiest cities in America for 2022. According to the Greater Houston Project, As retailers work to rebuild their inventories, as factories struggle to resolve supply chain issues, as the global economy continues to grow, so will the demand for Houstons exports, and so will Houston employment,. Read More The 20 Best Places for Retired Military to LiveContinue. 1 Atherton, CA Average Household Income: $525,324 The median home value in this San Matteo County, California, town is a staggering $7,795,239, according to Zillow. Other industries which influence the economy of Boston include the biotech industry, tourism, finance services and several Fortune 500 companies. It goes without saying that due to its history tourism is a huge draw when it comes to obtaining revenue. Stafford County is another of the counties that make up the Washington-Baltimore metropolitan area. Toronto is the second largest financial center in North America, Like New York City, Torontos financial hub is populated by diverse industries. Over half of the adults have a bachelors degree, thanks to nearby prestigious educational institutions such as Stanford and the University of California, Berkeley. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International among others. One of the biggest philanthropists in history, Buffett continued his summer tradition of donating billions to charity, giving shares worth about $4 billion to the Gates Foundation, as well as to foundations for his three children and late wife, in June. Unfortunately, the current law, federal and state taxes do very little for wealth distribution to accommodate low-earners. Finally, London hosts some of the most prominent Fortune Global 500 companies such as Lloyds Banking Group, Prudential, J Sainsbury, BP, Tesco and Vodafone Group, among others. 10 Prisons That Rival The Accommodations of Most Hotels, Why You Should Consider Investing in Sandy Oregon Real Estate. Unfortunately,, Read More How Long Does it Actually Take to Fix and Flip a House?Continue, No one can claim that every resident of Atlanta is dripping in riches. In significant part, this happened because the last one, Frederick Calvert, was lacking in every single way. Fortune 500 companies located in the Rhine-Ruhr metropolitan area include: ThyssenKrupp AG, RWE AG, Bayer AG, Evonik Industries, among others. 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. Industries that have found success in the city include food processing, manufacturing, publishing, insurance and tourism. Likewise, the strong US job markets and low unemployment equate to higher prosperity within metropolitan areas. It has $105,9659 with home values of $446,300. 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. The 20 Best Places for Retired Military to Live, U.S. Census Bureaus American Community Survey, How Bebe Rexha Achieved a Net Worth of $10 Million, The 20 Worst Cities for Human Trafficking in the World, How Simu Liu Achieved a Net Worth of $4 Million, The 20 Best Chevy Muscle Cars of All-Time, How Lizzo Achieved a Net Worth of $40 Million. The high cost of living in the metro region more than offsets the areas high salaries. In 2018, American households collectively held over $98 trillion in wealth. Well-paying government employment abounds, as one might anticipate. The lower-than-average bachelors degree completion rate is most likely due to the kind of occupations available in the area. Every year, four million people visit the citys sandy beaches and redwood woods. Last December, a Koch subsidiary reportedly sold a 340,000- acre Montana cattle ranch to media mogul Rupert Murdoch for roughly $200 million. Even if city life doesnt appeal to you, the stunning Rocky Mountains are only an hour away. . However, a sharp economic disparity runs through this metropolitan region, making it one of the worst in the country. In stark contrast to Broomfield County, Somerset County is one of the oldest counties in the United States. Its low 26.1% rate of graduates is below both the 31.3% national college attainment rate and 39.3% statewide and is unusual for a wealthy metro area in the US. With a typical home valued at just under $800,000, San Francisco exemplifies how affluent areas are often subject to high prices, including housing. 10. However, today it has moved on to other, more profitable economic interests such as finances, high tech and insurance, to name a few. The average home in the Honolulu region is valued at $680,200, which is more than quadruple the average American houses value of $217,600. Industries that contribute to New York Citys economy are health care, tourism, real estate, tech, publishing, fashion, media and insurance, among others. The City of Chicagos economy is home to a strong financial sector which includes the Chicago Board of Trade, NYSE Arca, Chicago Mercantile Exchange, Chicago Board Options Exchange and the Chicago Stock Exchange. Even though the city was riddled with the effects of the pandemic, Job growth occurred with another 5,700 jobs added. San Francisco has a rich economic history,,one that includes the wealth generated by the California Gold Rush. In June, the holistic health institute she founded in Bentonville a year earlier was renamed the Alice L. Walton School of Medicine. They got the necessary amendment passed in 1998. Dallas plays host to a variety of industries, and its these industries which are responsible for the economic growth of the Dallas metropolitan area. In a public setback, his Blue Origin had to abort a rocket launch in September. Singapore (5th), Hong Kong (SAR China) (12th), Frankfurt (13th), Toronto (14th), Seoul (16th), and finally Paris, plummeting 3 places to 20th, make up the rest of the 2022 ranking. 1. 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). Although a runner-up to another California area, it boasts a whopping 10% higher rate of graduates with 42% of adults holding at least a bachelor's. A little known fact is that L.A. is the manufacturing center of the country. What are the wealthiest cities in the U.S.? There are many urban areas, including the states capital Chicago, but there is also plenty of rolling hills, wetlands, farmland, and forests. However, it has some pockets that are either urban or even rural. An ongoing shock that some residents are much more capable of absorbing than others. Two of those counties are Kings and Queens, which double as boroughs of New York City. In contrast, Nassau County shares the last third with Kings and Queens. Most metro area households make at least $87,470 per year, with more than one in ten earning more than $200,000. 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. 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. Beijing is the capital of China and has a population of over 20 million. Host Terry Crews announced the winner a short time ago on the hit competition . The same political dynamic has played out in mayoral races in New York City and Los Angeles, with varying results: Mayor Eric Adams of New York City, a former police captain, won office in 2021 . Home to 12 Fortune 500 companies, the city of Philly is Pennsylvanias financial hub. Other than that, there is Arlington, though it is amusing to note that Arlington doesnt enjoy the status of a city in the Commonwealth of Virginia. The richest city in the world is Tokyo. 87.8 percent of individuals in the city have a bachelors degree or above. The $113 trillion in assets held collectively by Americans in 2018 is more than five times the worth of all goods and services the country produces yearly. Required fields are marked *. It is not enough to select the correct career or the ideal employer if you want to make a lot of money. This metro region, located just west of Los Angeles, offers a small vacation from the citys exorbitant home prices. Most households in the metro region make more than $88,535 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. All kinds of workers earn high wages for a relatively even income distribution, with 9.4% earning $200,000 or more. 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. Boulder, like many other metro cities on our list, has a well-educated workforce and a favourable employment environment. Napa is one of three California metro areas to make the list of the top fifteen richest cities in the United States. The high concentration of educational institutions makes for one of the most-educated areas in the US compared to the nationwide rate of 31.3% of American graduates. A strong labour market boosts earnings. The area is home to Bridgeport, one of the nation's poorest cities that evens out the high-earning professionals who commute to New York City for work. When determining the GDP, the UN classifies 3 methods to determine it: City proper, urban area and metropolitan regions.. Our numbers for the richest cities in the world are based on the metropolitan statistical region. San Jose is the richest city in the US which is also the capital of Silicon Valley, home to over 2,500 high-tech enterprises and 90,000 employment. In the cities that made this list majority of people have made it there, financially. The largest economy in states, New York Citys prosperity is rooted in Wall Street. Hidden Hills, California Foreign corporations such as IBM, Nestle, Hewlett-Packard and more flooded Beijing, causing a rapid economic expansion. In fact, such diversity plays well in times of economic hardship, which includes the recent downturn caused by the pandemic. Back in the 19th century, it was very focused on agriculture, which meant the cultivation of both hemp and tobacco plus the rearing of both horses and cattle. Alexandria also boasts the second-highest share of the workforce in the US in high-paying professional fields. More recently, much of the county has undergone a transformation into the suburbs, which explains much about its excellent scores for health, income, and education. Your email address will not be published. In 2022, a small group of households in America holds 30% of the wealth (or $39 trillion). Two months later, he listed his North Palm Beach spread for $145 million, less than a year after he paid $80 million for it. Looking at the richest counties in the U.S., the No. After a large gap between first and second places on this list, the Golden State secures the eighth with an $80,135 median household income. 12. Bezos stepped down as Amazon CEO in July 2021. That makes Marin County a very biodiverse place, which is particularly important because so many of the local species can be found nowhere else. The U.S. Census Bureaus American Community Survey is the best source of information for this kind of question. Most Napa households make at least $92,769 per year, with 12.4 per cent earning more than $200,000. We added hundreds of new lists - see our top 101 city lists. All maps, graphics, flags, photos and original descriptions 2023 worldatlas.com. Richest Counties in America March 2022 America's richest counties are mostly clustered around just three major cities: Washington, DC, San Francisco and New York, which also have the highest cost of living. The states with the highest number of the richest cities are California with 23, New Jersey with 18, and New York with 13. . With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. Because many low- and middle-income residents have been priced out of the neighbourhood, the median household income is high, and unemployment is low. Beyonc, Jay Z and Taylor Swift are just a few of the celebrities who own property in Tribeca. In fact, Tokyo plays host to the top money-building organizations and minds anywhere on Earth. Naturally, that means that it shares many of the same factors responsible for their affluence. Another industry that rains gobs of revenue on the City of London is the tourism industry with over 20 million visitors per year. Many of the nation's 100 richest households are located within 50 miles of NYC. But are most of their bank accounts pretty fat? From nice homes, good salaries, and comfortable living Cary, North Carolina took home the No. Seoul is a gorgeous city and the economic hub of South Korea. Musk denied the allegation. Unfortunately, Business Insider makes it clear that this has also caused living costs to skyrocket in the city. The Rhine-Ruhr metropolitan area is the economic power house of Germany. Liz loves the process of researching information, learning new things, and putting into words what others who share her interests might like to read. The average household in this state earns $85,000 more than in any other state. Founded in 1630, Boston is one of our countries oldest cities. Douglas County couldnt be better positioned in the state of Colorado. SALT LAKE CITY - The ongoing work of controlling the spread and mitigating the impact of an invasive plant species, Phragmites australis, on the shoreline of Great Salt Lake and Utah Lake continued to see success in 2022.. 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. Like the other cities mentioned in our list of the richest cities of the world, the economy of Washington, D.C. is a diverse one. Thanks to that, Stafford County is also one of the richest and best-educated counties in the country. Loudoun County has consistently been either the richest or one of the richest U.S. counties in recent years. With a population of just over 30,500 people, the majority of whom are commuters, Los Altos is the fourth most educated city in the United States. Keep reading to learn more about the top 20 richest towns in America. This site uses Akismet to reduce spam. Before the Ukraine invasion, Moscow was the economic hub of Russia. ", Henley & Partners: The World's Top Investment Migration Programs in 2023, The USA Wealth Report: America's Millionaires Are on the Move. In short, it came into existence because of the city that is now the same as the county. Oxnard-Thousand Oaks-Ventura has a 3.6% jobless rate, 11.4% earning $200,000 or more, and 33.6% of adults with a bachelors degree or higher. These initiatives include the Small Business Improvement Fund, the Chicago Recovery Grant, Special Service Area Program, Tax Increment Financing and more. Los Altos Hills has been the wealthiest in California since 2019 (prior, it was in fourth place). Just that is enough to make Santa Clara County one of the richest counties in the United States beyond the shadow of a doubt. Shipping isnt the only industry which brings revenue into SEZ, its also the sizable industrial parks, high-tech industries and of course, trade. The Shenzhen Special Economic Zone was created in May of 1980 and is based on Irelands Shannon Free Zone. People are very interested in both what other people earn and what other people have earned based on the contents of the Internet. League City, TX Median Income: $108,979 Unemployment Rate: 3.9% Population: 105,410 View this post on Instagram A post shared by Visit League City (@visitleaguecity) 9. Industries critical for L.A.s economic success include entertainment, international trade, gaming, tourism, fashion and more. Only 2.7 per cent of local employees are unemployed, about a full percentage point lower than the national unemployment rate of 3.8 per cent, which is close to a historic low. While some of these areas are not great places to live, others offer all the factors that people consider essential for an enjoyable and, Read More The 20 Best Places to Live in DallasContinue. San Mateo, like many other metro cities on our list, has a well-educated workforce and a favourable employment environment. Top 17 Drunkest Cities in America [Report 2023] 12 Major Cemeteries in Iowa [Update 2023] 10 Best Ziplines in Iowa You Must Enjoy [Update 2023] . Accessibility to a city center is typically a key characteristic of the cities on the list. America's 100 Richest Places. To the west, Stamford is a significant business centre with numerous Fortune 500 corporations, including telecommunications behemoth Charter Communications. Boston metro area earns almost $25,000 more than a typical US household's $57,617. The Carolinas are taking over this year with these rankings. Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. You should find this article on richest neighborhoods in America very interesting. Elon Musk Net. Meanwhile, Bezos ordered a superyacht so big that shipmaker Oceanco had to request that a historic bridge in Rotterdam be dismantled in order for the vessel to leave. Seventy-eight percent of individuals who live in Westport have a bachelors or higher level of education. In April, he announced that two schools in his home city would receive $100 million apiece. In August she donated two Beverly Hills mansions, worth $55 million, to the California Community Foundation, which will sell them and use the proceeds for affordable housing and immigrant integration efforts. As such when it comes to the richest cities in the world, New York City comes in at number 2. But even with these . A bachelors degree is held by more than half of the individuals in this town. Two Chinese cities, Beijing (9th) and Shanghai (10th), make it into the Top 10, and Switzerland and Australia each manage to secure two top city spots, with Sydney (11th), Zurich (15th), Melbourne (17th), and Geneva (19th) all making the cut. This table includes only zip codes where more than 10,000 returns were filed Filter by number of returns filed: All . Manufacturing and processing, renewable technology, and life sciences are all promising industries in the region. The Oracle founder also made news in May when it was revealed that he joined a November 2020 conference call to discuss ways to overturn Donald Trumps election loss. The cannabis business is rather recent, but also encourages financial growth for the city. The Shenzhen Special Economic Zone or SEZ is an important business and financial services center in China. Another unique location to the rest of the nation places seventh. After all, virtual worlds have been around since before the popularization of the Internet. Cary, North. Each year, thousands of servicemen and women retire from the military. She has contributed at least $1.5 billion in cash and Walmart stock to her Art Bridges foundation since 2016. The 10 Richest Cities In The US For 2022 Cary, NC Centennial, CO Frisco, TX Sunnyvale, CA Fremont, CA Bellevue, WA Pearland, TX Olathe, KS Overland Park, KS League City, TX Is everyone in these places loaded? City: Country: Region: Billionaires: New York United States: North America: 107 Beijing Some of the stores were also victims to the series of mass looting incidents that plauged major cities in 2021 and 2022. . I write about the worlds richest people and their businesses. The average household in the Denver metro region earns $85,641 a year, which is higher than in all but 20 other cities in the United States. 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. This included plans of action to assist with rent, taxes, business subsidies and more. The other two would be Nassau County and Suffolk County. Here are the top 10 wealthiest cities in America for 2022. A citys median household income is influenced by a number of things. Check the list below if you are looking for the richest cities in the US. You must also locate yourself in the appropriate city. For instance, some people are more curious about the wealth of areas rather than the wealth of individuals, so a common question would be what are the richest counties in the U.S. As it turns out, these counties are concentrated around Washington, D.C., New York City, and the San Francisco Bay Area, though some of these counties are located elsewhere. According to the latest data, one out of every 4.5 residents of the city lives in poverty. However, that interest can take on a wide range of forms. As such, it was named for the English county of the same name. 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. Please note that these numbers are median household incomes rather than mean household incomes. It is home to an impressive 48.5% of adults with a bachelors degree or higher and 19.5% of households that earn $200,000 or more. According to leaked IRS data published by ProPublica in April, he paid the fourth-lowest federal income tax rate among Americas top 400 earners from 2013 to 2018 while outearning everyone but Bill Gates. Education also has a bearing impact on income, with college graduates often earning more. This metropolitan area has ranked as the fourth-best richest city by median household income. The "0.01 %," primarily accumulate their wealth from the equity in corporations. Hillsborough rightfully earns a place as one of the richest cities in America. Some 75% of aggregate household assets are financial, like stocks, mutual funds, retirement accounts, and owned businesses. It's a sharp reversal from last year, when the top 20 added an unprecedented $500 billion to their collective fortunes as asset prices soared, accounting for nearly 40% of the $1.3 trillion gained by the entire list. 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. Tourism is another major contributor to the economy of Philadelphia. In fact, according to this chart, you can see that manufacturing takes the lead with 16.6 percent followed by retail at 16.6 percent and real estate at 11.4 percent. 3. San Fransisco metro area places second with a median household income of $96,677, nearly threefold that of the country's poorest city, Laredo in Texas. Besides this, it is notable for being home to multiple Fortune 500 companies plus the headquarters of multiple intelligence agencies. The majority of households in the metro region make at least $94,027 a year, with 12% earning more than $200,000. Copyright 2023 USA by Numbers | All Rights Reserved, Top 20 Richest Cities in the US [Ranked in 2023], Top 15 Richest States in the US [Report 2023], Top 15 Richest Counties in the US [Ranking of 2023], Top 13 Richest Neighborhoods in America [Report 2023]. The same website, has also ranked Cary and Apex to be the. Washington, District of Columbia: $578.985 Billion, 4. Many wealthy citizens in Washington DC work high-paying legal and government jobs with over 20% employed in the professional, scientific, and management industries area-wide. Coastal cities and towns, on the other hand, have pleasant weather, easy access to parks and the coastline, and a diverse range of economic prospects. Here I gathered the fifteen richest cities by median household income determined by the most recent government census data. In June, he paid a Florida record of $173 million for a home in Manalapan. Presumably, this is because the median is a better indication of what someone who is in the middle for a particular population would be like. In other words, the city produces poor copies of everything from designer fashions to scooters. In any case, Montgomery County has a second claim to fame in that it is one of the best-educated U.S. counties on top of being one of the richest U.S. counties. The DC area's slightly lower median household income of $95,843 is impressive, with a notably higher jobless rate of 3.6%. Thirty-seven of the 100 richest cities are located in six counties in the United States. Cities and towns with ties to Wall Street and the Silicon Valley, . 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. Ever wonder, what's the wealthiest city in America? In July, Gates announced he was shifting $20 billion of his fortune to the Bill & Melinda Gates Foundation. Even now, the southern part of the county is still focused on agriculture because it is still rural for the most part. Sometimes settling down in a city is a lifetime decision. Beijing also has the dubious distinction of being the knock-off capital of the world. The legendary bargain hunter began the year lamenting a lack of good deals but soon found plenty. Walmart shares have lost 11% of their value over the last year as higher costs have dented the companys profits. This is a far higher proportion than in other cities, and much above the national average of 6.6 per cent. 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. High-paying tech businesses like Google and IBM are major employers in the metro region. 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. 1 spot. Well-known corporations that reside in SEZ are Tencent, Huawei and DJI. Located in San Mateo County, the city has the best restaurants, parks, shops, and most importantly, an excellent schooling systemno wonder most affluent families choose to settle down in this wealthy town. Chances are good that interested individuals can guess that Williamson County can be found in the Nashville metropolitan area. More than half of the 100 richest cities in the United States were in the New York City area or California. China is crucial to the worlds supply chain, and Shenzhens container port is one of the largest. In a September LinkedIn post, he spoke out against tech CEOs pushing for a return to the office. Since San Francisco County is on the tip of the peninsula while Santa Clara County is on the base of the peninsula, that means that San Mateo County is sandwiched between them. The last is the biggest of the lot because it takes up two-thirds of Long Island. 2,047) No. The Bureau of Economic Analysis has calculated that the regional price parity in 2019 of the 50 largest MSAs ranges from 88.3 in Birmingham, Alabama (which has the lowest cost of living of the 50 most populous MSAs) to 126.7 in San Jose, California (the highest cost of living of the 50 most populous MSAs). With a median household income of $114,696, it is the second richest city in the US. New York City, USA: $1,330.000 Billion. According to Jennifer Reynolds, Pre4sident and CEO of Toronto Finance International, Torontos success is due in large part to the strength and significant growth of its financial industry. Though still bruised and battered by the effects of the pandemic, New York City is holding true to its reputation as a tough and resourceful city. , like many other metro cities on our list, has 100 richest cities in america 2022 population of 20! 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