America is a republic made up of 50 states. There are tens of thousands of cities nestled within these states, but just which ones are the most affluent? Which states in America offer their citizens the absolute best by way of living standards?
Well, you could simply look at their GDP, or Gross Domestic Product, but we are about to find out by the actual quality of life most citizens have. For this, we are going to check out just how many millionaire households there are within each city, as well as the median household income for all people in that city. In this way, we are measuring worth by the standard of living, the quality of life people have in that city.
Here we enlisted the top richest cities in America.
10. Anchorage, Alaska
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Alaska is loaded with the richness of natural resources, and Anchorage takes advantage of that relationship. The largest city in Alaska, housing over 40 percent of Alaska’s entire population, Anchorage has approximately 11,299 millionaire households and a median household income of $53,889 for its citizens. Living expenses run high here, 30 percent higher than Americas average, as Anchorage is an out of the way city which means that goods and services will cost a bit more out of pocket. Anchorage obtains much of its revenue from tourism as well, and with over 39,000 businesses operating in Anchorage as well as income from Elmendorf Air Force Base and Fort Richardson.
9. Lexington Park, Maryland
As far as millionaires go, Lexington Park, Maryland has over 3,000 millionaire households, and a household median of $86,987.00. One of the major sources of revenue for Lexington Park, is due to military growth. You have Patuxent Naval Air Station, the Pentagon along with defense contractors such as Lockheed Martin, Northrop Grumman and Boeing. Patuxent Naval Air Station alone has over 20,000 workers from the area, by which it is estimated that approximately 3 billion dollars contribute to Maryland’s state economy. The future looks bright for Lexington Park as future job growth is projected at 37.59 percent.
8. Napa, California
The City of Napa is second only to Santa Rosa, when it comes to making the finest wines in America, due to its agreeable Mediterranean type climate and rich, compatible soil. With entire landscapes littered with gorgeous, lush vineyards grown by over 700 growers it is the vineyards which bring in the dollars for Napa. As far as millionaire households go, Napa has almost 4,000 with a median household income of around $71,379, and if you want a house, that home may run you close to around $500,000. There are around 475 wineries in Napa, and the revenue obtained from these various wineries is in the billions per year.
7. San Francisco, California
Street cars, Fisherman’s Wharf, lovely hilltop residential enclaves, home to the counterculture of the 1960’s, and a kind and welcoming population make this a prized destination for many people. To be honest very few people can afford to live here with its staggering living expenses. However, those who can afford a home or apartment here, claim it to be one of the best cities in America. San Francisco is home to over 138,000 millionaire households, and the average median income per household is $88,518. The City by the Bay truly is for the wealthy, it are the tech jobs that people come here to do, as San Fran is known as a high tech city. The service sector, hospitality and tourist industries are also a huge draw, and employs many many citizens.
6. The Villages, Florida
In Florida, ‘The Villages’ refers to a high growth, community which touches base in both Lake and Marion counties, Florida. The Villages are home to over 4,500 millionaire households, and has a median income for all households of $51,335. The location for The Villages is quite sumptuous, as it is close to Walt Disney world, but don’t let that fool you. The Villages is not for kids. In fact, this is a community that is built solely for the retirement set. The Villages is designed to have convenience at every corner, which means that there are stores, laundromats, eateries all within easy reach for members of the community. But, no kids allowed unless they are guests.
5. Honolulu, Hawaii
The gorgeous, exotic greenery, clear blue waters and pristine atmosphere make Honolulu one of the top tourist destinations of the United States, if not the world. Indeed, tourism is among the main sources of revenue for the entire state of Hawaii. Honolulu is off the beaten path, so to speak, as it is not part of the mainland, so expect your living expenses to be a bit on the high end. However, as it is home to some very wealthy individuals, that may not be a problem. Out of a total of 327,356 households in Honolulu, a whopping 26,146 of them are millionaire households. The median family does not do badly either, with an average income of $74,460.
4. Oxnard, California
You’ve probably never heard Oxnard, California yet here it is, number four on our top ten countdown of the wealthiest cities in America. Oxnard is widely appreciated for its fine beaches, and with over 20 miles total of uncluttered coastal pleasure, there is a nook and cranny available for everyone. As it is relatively close to Los Angeles, many celebrities choose to live there as well. Oxnard is also known by its more popular name, Ventura County, and has 23,170 millionaire households, and a median income for all households at $80,032. Industries here include agriculture, manufacturing, and of course, tourism.The unemployment rate is approximately 5.9 percent, with projected job growth at 34 percent.
3. San Jose, California
San Jose, California has a total of 57,826 millionaire households, with a median income for all households at $101,980. San Jose, California comes in at number three on our countdown for the top ten richest cities in America, mainly due to the fact that it is the center of the famous, ‘Silicon Valley’. This city is the largest in northern California and gets most of its massive revenue from the tech industry, as it is actually known as the ‘Capital of Silicon Valley’. San Jose is home to major tech universities such as Berkeley, University of California, and Stanford which all contribute bright and stunning minds to keep Silicon Valley the tech powerhouse that it is.
2. Washington, D.C.
Washington, D.C. needs no obvious introduction. The world knows that this is where the politics of the United States are made. This great city has a millionaire population of 197,103 and a median home income for households at $93,294. As it is to be expected, tourism is a massive contributor to the affluence of this great city, bringing in millions each year. Also to be expected, the business and professional private sector companies bring in revenue as well. This diverse city is a testament to the strength, resilience and perseverance that is America. Unemployment rate hovers around 6 percent with a positive job growth of 3.67 percent.
1. Stamford, Connecticut
Number one in our countdown of the top ten richest cities in America right now, is Stamford, Connecticut. With 30,227 households with an income of one million dollars or more, and an overall median household income of $86,414, historical Stamford clearly etches itself a well deserved spot at number one. What makes this city so affluent is due in large part to their business standing. In 2017, Stamford houses the headquarters to four Fortune 500 companies, 13 three Forbes Global 2000, one Fortune Global 500 company and nine Fortune 100 companies. All of which make it quite evident why Stamford has the crown for the wealthiest city in America.
Now that we have concluded our countdown of the top ten richest cities in America for 2017, you can get a good perspective of what America is made of, the type of cities make up its states, and the great diversity of talent it takes to keep it all running smoothly. Whether you are interested in aerospace technology, wine making, or entertainment, there is a city in America that is made just for you, and that is a good thing to know.