When you think of wealthy places in America, what comes to mind? Palo Alto, California? New York City?
New York and the San Francisco Bay area, most notably, Silicon Valley have been at the forefront of affluent communities for the past several years. This is in part due to the growing technology industry in Silicon Valley and the financial services hub that is New York City.
The wealthy don’t only live in New York or Silicon Valley. Rich neighborhoods and towns are scattered all over America. As the economy grows, so does the wealth of these places. And according to recent data, the economy is in healthy shape and continues to promise strong growth moving forward.
Here are America’s 20 richest places:
1. Atherton, California
- Average household income 2016: $443,403
2. Cherry Hills Village, Colorado
- Average household income 2016: $390,224
3. Scarsdale, New York
- Average household income 2016: $387,558
4. Los Altos Hills, California
- Average household income 2016: $373,848
5. Short Hills, New Jersey
- Average household income 2016: $354,479
6. Hillsborough, California
- Average household income 2016: $350,917
7. Old Greenwich, Connecticut
- Average household income 2016: $334,911
8. Bronxville, New York
- Average household income 2016: $334,848
9. Highland Park, Texas
- Average household income 2016: $330,703
10. Darien, Connecticut
- Average household income 2016: $327,901
11. West University Place, Texas
- Average household income 2016: $317,665
12. The village of Indian Hill, Ohio
- Average household income 2016: $314,077
13. Winnetka, Illinois
- Average household income 2016: $313,173
14. Great Falls, Virginia
- Average household income 2016: $308,663
15. Glencoe, Illinois
- Average household income 2016: $306,923
16. Kentfield, California
- Average household income 2016: $287,843
17. University Park, Texas
- Average household income 2016: $286,107
18. Paradise Valley, Arizona
- Average household income 2016: $284,203
19. Westport, Connecticut
- Average household income 2016: $282,362
20. McLean, Virginia
- Average household income 2016: $280,225
After years of New York and California dominating the wealthiest places in America, areas in the Midwest are starting to join the list. For example, Glencoe, Illinois with an average household income of $306,923 or Indian Hill, in Ohio with an average household income of $314,077. Do you live in one of the top wealthiest places in America?
These free resources should not be taken as tax or legal advice. Content provided is intended as general information. Tax regulations and laws change and the impact of laws can vary. Consult a tax advisor, CPA or lawyer for guidance on your specific situation.
As an enthusiast deeply immersed in the socio-economic landscape of the United States, particularly in the context of wealth distribution and affluent communities, it's evident that my expertise is grounded in a thorough understanding of economic indicators, regional financial dynamics, and the factors influencing wealth accumulation. My commitment to staying abreast of the latest data and trends enables me to provide insights that go beyond superficial observations.
Now, delving into the article discussing America's 20 richest places, the provided list offers a glimpse into the nation's economic elite. The data showcases average household incomes for the year 2016, highlighting the financial prowess of these communities. Let's break down some key concepts mentioned in the article:
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Wealthy Places in America:
- The article introduces the idea that affluent areas extend beyond the well-known Silicon Valley and New York City. It emphasizes the dispersion of wealth across the country and notes that economic growth contributes to the prosperity of various regions.
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Top 20 Richest Places:
- The list enumerates the top 20 wealthiest places in America based on average household income in 2016. These locations span across different states, showcasing the diversity of affluent communities in the U.S.
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Economic Growth and Wealth:
- The article implies a correlation between economic growth and the wealth of these places. The assertion suggests that as the national economy expands, so does the affluence of these communities.
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Emergence of Midwest Areas:
- A notable shift in the trend is highlighted, indicating that areas in the Midwest, such as Glencoe, Illinois, and Indian Hill, Ohio, are making their mark among the traditionally dominant wealthy regions like New York and California.
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Call to Readers:
- The article engages readers by prompting them to consider whether they reside in one of the top wealthiest places in America, fostering a sense of connection and curiosity about the economic landscape.
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Disclaimer on Free Resources:
- The concluding disclaimer emphasizes that the provided information should not be construed as tax or legal advice. It underscores the dynamic nature of tax regulations and laws, advising readers to seek personalized guidance from tax advisors, CPAs, or lawyers based on their specific situations.
In summary, this article navigates the geographical tapestry of wealth in America, showcasing the financial vitality of various regions and inviting readers to reflect on their own community's standing in the economic hierarchy. It's a testament to the nuanced interplay of economic factors shaping the prosperity of different locales across the nation.
