According to the Economic Policy Institute, the richest 1% in Bridgeport-Stamford-Norwalk earn 62.2 times more than the bottom 99 per cent. No. The unemployment rate is also 2.7%, one of the country's lowest. Thanks to that, Stafford County is also one of the richest and best-educated counties in the country. Whether its gigantic enterprises like Amazon, Microsoft, Starbucks, Costco, T-Mobile, and Nordstrom, or wealthy leaders like Jeff Bezos and Bill Gates, who built their houses in the town of Medina next door, Seattle is home to some of the largest names in the country. Here I gathered the fifteen richest cities by median household income determined by the most recent government census data. People are very interested in both what other people earn and what other people have earned based on the contents of the Internet. However, that type of thinking, Read More Why You Should Consider Investing in Sandy Oregon Real EstateContinue. Manufacturing and processing, renewable technology, and life sciences are all promising industries in the region. Foreign corporations such as IBM, Nestle, Hewlett-Packard and more flooded Beijing, causing a rapid economic expansion. 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. Of the 15 counties with the highest incomes, five are located in Virginia. Its a one-two-three that seems like a great way to make a ton of money very quickly. Once a top contender in manufacturing, today manufacturing revenue covers only around 10 percent of the economy. Also known as the Prairie State, Illinois borders the Mississippi River and Indiana. The Bloomberg LP cofounder and former mayor of New York committed $750 million to charter schools last December. Learn how your comment data is processed. Top 100 cities with highest median household income Previous toplist Next toplist . According to the latest five-year estimates, a total of 68 counties had median household incomes that were above $100,000. Nowadays, it has other focuses, thus making it one more reminder of how much the United States has changed over time. 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,. Beijing is the capital of China and has a population of over 20 million. 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. In contrast, the mean can give very misleading impressions where there are outliers in the population. Even if city life doesnt appeal to you, the stunning Rocky Mountains are only an hour away. Since retiring as chairman and CEO in 2016, the Nike founder has led a $270 million investment for a new track-and-field stadium at the University of Oregon, his alma mater, and is said to be personally involved in talks for its teams to join the Big Ten conference. Apart from the national monuments and presidential residences, the region is home to Georgetown University and other prestigious educational institutions. To name an example, it is home to numerous ecosystems that range from riversides to coast redwood forests. Another crucial element is the neighborhood of Zhongguancun. Chances are good that interested individuals can guess that Williamson County can be found in the Nashville metropolitan area. Subsequently, Forsyth County developed a reputation for being home to sundown towns, which refer to communities where non-whites were very much not welcome. 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. Four of the top 20 are worth $100 billion or more, down from eight last year, but up from two in 2020 and none in 2017. 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). 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. That said, it isnt immune to the suburbanization that has overtaken the rest of the county. Boulder is the richest city in Colorado and the tenth wealthiest in the United States. . Beyonc, Jay Z and Taylor Swift are just a few of the celebrities who own property in Tribeca. If divided evenly, each household would have over $343,000, which is not the case. With a median income of $251,000 at the beginning of 2022, the town just edges out Woodside and Hillsborough. Shares are down 57% since last years list, helping lop nearly $74 billion off Zucks fortune and moving him out of the top 10 for the first time since 2014. Napa is one of three California metro areas to make the list of the top fifteen richest cities in the United States. Only 32.2% of adults boast a bachelor's or higher, enough for the state's most demanded service jobs; fishing and tourism. Americans invest the majority of their non-financial assets in real estate. Napa Valley is well-known across the world as a wine-growing region, and local wineries, as well as the tourist they generate, contribute significantly to the local economy. In the cold, northern, massive state of Alaska, known for its high wages, Anchorage residents earn the most at $82,203 per household a year. World-renowned big, innovative companies and the regions largest employers include Apple, Adobe Systems, Apple, Intel, Lockheed Martin, and NASA. The town of six square miles is near Palo Alto, Stanford University and. The types of jobs available often determine income levels. 5,104) over $200,000: 2. However, a sharp economic disparity runs through this metropolitan region, making it one of the worst in the country. The 10 Best Places to Live on the West Coast of Florida. It was by far the fastest . To the west, Stamford is a significant business centre with numerous Fortune 500 corporations, including telecommunications behemoth Charter Communications. California-Lexington Park area has a higher, 4.5% jobless rate, along with a low 6.6% of households making $200,000 or more. Currently, 43 Fortune 500 companies that call New York City home include: Verizon, JP Morgan, Pfizer, Citigroup, MetLife, Goldman Sachs, Morgan Stanley, and more. Should You Invest in Virtual Real Estate? But even with these . In all, Scott has donated $12.6 billion since June 2020. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. The report said 623 have assets worth at least $100 million and 62 billionaires live in the city. Chances are good that interested individuals can guess that Bergen County sees a lot of traffic to and from New York City, so much so that Mental Floss says that the George Washington Bridge connecting the two is the busiest motor vehicle bridge in the entire world. In fact, Seoul is known as the most wired city in the world due to the high concentration of high-tech industries. The Ten Richest Americans Forbes calculated net worths for the 2022 list of the World's Billionaires using stock prices and currency exchange rates from March 11, 2022. Areas with high unemployment usually correlate with a lowered median household income. League City, TX. Another excellent example would be the Pentagon, which is a great reminder of the importance of the U.S. federal government to the local workforce. Atherton is close to San Francisco, Scarsdale is close to New York City, and Cherry Hills Village is close to Denver. 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. According to the latest data, one out of every 4.5 residents of the city lives in poverty. The housing costs are through the roof, with a typical metro area home selling for $658,900. We will make Chicago the safest city in America. Ever wonder, what's the wealthiest city in America? In June, the holistic health institute she founded in Bentonville a year earlier was renamed the Alice L. Walton School of Medicine. Unfortunately, the current law, federal and state taxes do very little for wealth distribution to accommodate low-earners. Charles Koch and the family of Julia Koch, the widow of his younger brother David (d. 2019), each owns 42% of Koch Industries. The median home value for the lower Tribeca area is around $2.5 million. Here are the top 10 wealthiest cities in America for 2022. 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. Software Full Name: Adobe Premiere Pro 2023. Once considered a major shipping hub to the world, that distinction has been replaced by the service industries, such as financial services. Industries that contribute to New York Citys economy are health care, tourism, real estate, tech, publishing, fashion, media and insurance, among others. With tourism to back them up, the hard-working population boasts the nation's lowest unemployment rate of 1.9%. She finds almost all topics she writes about interesting, but her favorite subjects are travel and food. However, today it has moved on to other, more profitable economic interests such as finances, high tech and insurance, to name a few. The legendary bargain hunter began the year lamenting a lack of good deals but soon found plenty. Hidden Hills, California 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 Forbes Philanthropy Score 2022: How Charitable Are The Richest Americans. Sometimes settling down in a city is a lifetime decision. On TV it looks so easy to buy a house, fix it and sell for a profit. Tourism is another major contributor to the economy of Philadelphia. The principal city of the Washington metropolitan area is Washington, D.C. itself for obvious reasons. Despite the exceptionally high median income, many inhabitants, notably in Bridgeport, the historic manufacturing centre, live in poverty. 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. Only five metro regions in the United States have a majority of households earning at least $94,430 a year. Housing prices bite with a typical Oxnard-Thousand Oaks-Ventura area home valued at $561,400, for over double the value of the median $205,000 home across the nation. 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. Unemployment Rate: 3.9%. Since ceding his seat on the retailers board to son Steuart in 2016, the richest of the Walton heirs has remained focused on running the familys Arvest Bank, which will funnel a sliver of its $27 billion in assets to a University of Arkansas football player as part of a name, image and likeness (NIL) deal announced in August. A bachelors degree is held by more than half of the individuals in this town. The area covers much of the innovative Silicon Valley tech hub, comprising the San Francisco Bay Area's southern reaches. Ventura dubbed the city of good fortune, has a plethora of well-paying professions in health care, tourism, and technology. 87.8 percent of individuals in the city have a bachelors degree or above. Cities and towns with ties to Wall Street and the Silicon Valley, . Here's a closer look at the 20 richest people on the 2022 Forbes 400 list of wealthiest Americans (net worths are as of September 2, 2022): Elon Musk Liesa Johannssen Koppitz/Bloomberg 1.. 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. And this top 5% of the list can still lay claim to 40% of the $4 trillion in total wealth of the 400 richest Americans as of September 2 (the date Forbes calculated net worths for the 2022 list). Musk, worth an estimated $251 billion, is $60.5 billion richer than a year ago, thanks to an 11% increase in the price of his electric vehicle makers shares and a fresh funding round that valued his rocket maker at $127 billion. Despite paying over threefold that of a typical American home, the locals live in paradise with high-paying jobs available. Simply put, it is one of the best-known places in the United States and beyond. Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. 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. Houstons economy is diverse, from the worlds largest petrochemical manufacturing center to health care and medical research, real estate, finance, and information tech industries. Beijing also has the dubious distinction of being the knock-off capital of the world. Principal industries which were the engine behind Moscows economy are textile, metallurgy, energy, and chemical. 10. 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. The area is famed for its extravagant celebrity residences, with everyone from Barack Obama to Jeff Bezos owning a multimillion-dollar home there. It goes without saying that due to its history tourism is a huge draw when it comes to obtaining revenue. Nearly four decades after a 19-year-old Dell founded Dell Technologies from his University of Texas dorm room, he remains chairman and CEO of the company, which now pulls in $100 billion in annual revenue. Seattle metro area is home to a prominent tech industry that employs many and pays well, with an unemployment rate of 3.9%. 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. Another tough year for Meta, with daily Facebook users dropping amid competition from apps like TikTok. Well-known corporations that reside in SEZ are Tencent, Huawei and DJI. Napa is a tiny city with a population of fewer than 150,000 people, located just north of the San Francisco Bay, which is home to numerous other metro areas on this list. 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. On average, goods and services in the Santa Cruz metro region cost around 25% more than they do nationwide. ", Henley & Partners: The World's Top Investment Migration Programs in 2023, The USA Wealth Report: America's Millionaires Are on the Move. Unfortunately, San Francisco is also a reminder that numbers mean very little without their proper context. Boston University, Harvard University, and Northeastern University awarded over 100,000 degrees in 2015 and helped "sponsor" the recent 46.9% holding a bachelor's or higher. 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