Wealth inequality in the United States is continuing to grow. The average income of the wealthiest 0.01 percent of households grew 17 times as fast as the income of the bottom 20 percent of earners between 1979 and 2020, according to the Congressional Budget Office. In many parts of the country, annual household incomes exceed the national average by tens or hundreds of thousands of dollars.
Generating $25.5 trillion in 2022, the United States has the largest economy in the world. Wealth accumulation at the household level is driven largely by earned income. The latest data from the U.S. Census Bureau’s American Community Survey shows that American households earn an average of about $105,800 each year.
Education factors into earning potential. In all but nine towns on this list, over half of all adult residents have a bachelor’s degree or higher. For comparison, the bachelor’s degree attainment rate is below 35% in most states and under 50% in every state. (Here is a look at the colleges and universities with the most upward mobility.)
Using five-year estimates from the Census Bureau’s 2022 ACS, 24/7 Wall St. identified the richest town in every state. We considered all 13,797 cities, towns, villages, and unincorporated communities with available data and populations between 1,000 and 25,000, and ranked them on average household income. All supplemental data are also five-year estimates from the 2022 ACS. (Also read: America’s poorest towns in every state.)
Why This Matters
The story of the American economy can be read in its towns, suburbs, and cities. As the industrial makeup of this country has shifted, so too have the places where the wealth is concentrated. Mining and boom towns and dilapidated major urban centers in the Rust Belt tell a story of the drying up of resources and outsourcing. The new money in California’s Silicon Valley and Utah’s Silicon Slopes are monuments to American technological innovation and venture capitalism. Suburbs of Boston, Washington, D.C. and New York City are outposts of American old money from the days of oil and railroad trusts. The United States is one of the wealthiest nations on earth, but also home to pockets of extreme income inequality. Looking at one end of the wealth spectrum can help shed light on what is going on at the other end.
Here is the richest town in every U.S. state.
Alabama: Mountain Brook
- Household income (median): $267,337 (Alabama: $82,992)
- Residents with a bachelor’s degree or higher: 85.8% (Alabama: 27.2%)
- Unemployment rate (5-yr. avg.): 0.9% (Alabama: 5.1%)
- Home value (median): $803,000 (Alabama: $179,400)
- Population: 22,259
Alaska: Chena Ridge
- Household income (median): $153,410 (Alaska: $110,602)
- Residents with a bachelor’s degree or higher: 49.6% (Alaska: 30.7%)
- Unemployment rate (5-yr. avg.): 6.0% (Alaska: 6.0%)
- Home value (median): $359,000 (Alaska: $318,000)
- Population: 5,321
Arizona: Paradise Valley
- Household income (median): $385,643 (Arizona: $98,569)
- Residents with a bachelor’s degree or higher: 73.6% (Arizona: 31.8%)
- Unemployment rate (5-yr. avg.): 2.5% (Arizona: 5.3%)
- Home value (median): $2,000,001 (Arizona: $321,400)
- Population: 12,672
Arkansas: Goshen
- Household income (median): $218,407 (Arkansas: $79,592)
- Residents with a bachelor’s degree or higher: 66.4% (Arkansas: 24.7%)
- Unemployment rate (5-yr. avg.): 1.5% (Arkansas: 5.1%)
- Home value (median): $590,000 (Arkansas: $162,400)
- Population: 2,632
California: Atherton
- Household income (median): $594,651 (California: $130,718)
- Residents with a bachelor’s degree or higher: 86.0% (California: 35.9%)
- Unemployment rate (5-yr. avg.): 2.2% (California: 6.4%)
- Home value (median): $2,000,001 (California: $659,300)
- Population: 7,124
Colorado: Cherry Hills Village
- Household income (median): $486,405 (Colorado: $117,508)
- Residents with a bachelor’s degree or higher: 85.2% (Colorado: 43.7%)
- Unemployment rate (5-yr. avg.): 2.8% (Colorado: 4.5%)
- Home value (median): $2,000,001 (Colorado: $465,900)
- Population: 6,405
Connecticut: Tokeneke
- Household income (median): $588,687 (Connecticut: $130,601)
- Residents with a bachelor’s degree or higher: 96.7% (Connecticut: 41.4%)
- Unemployment rate (5-yr. avg.): 5.7% (Connecticut: 5.9%)
- Home value (median): $2,000,001 (Connecticut: $323,700)
- Population: 2,575
Delaware: Greenville
- Household income (median): $225,997 (Delaware: $104,600)
- Residents with a bachelor’s degree or higher: 81.7% (Delaware: 34.5%)
- Unemployment rate (5-yr. avg.): 3.5% (Delaware: 5.4%)
- Home value (median): $936,500 (Delaware: $305,200)
- Population: 2,824
Florida: Palm Beach
- Household income (median): $365,991 (Florida: $96,992)
- Residents with a bachelor’s degree or higher: 68.5% (Florida: 32.3%)
- Unemployment rate (5-yr. avg.): 5.6% (Florida: 5.0%)
- Home value (median): $1,679,800 (Florida: $292,200)
- Population: 9,205
Georgia: Druid Hills
- Household income (median): $212,511 (Georgia: $99,345)
- Residents with a bachelor’s degree or higher: 85.7% (Georgia: 33.6%)
- Unemployment rate (5-yr. avg.): 3.3% (Georgia: 5.2%)
- Home value (median): $744,600 (Georgia: $245,900)
- Population: 8,467
Hawaii: Poipu
- Household income (median): $232,264 (Hawaii: $122,902)
- Residents with a bachelor’s degree or higher: 49.2% (Hawaii: 34.7%)
- Unemployment rate (5-yr. avg.): 2.3% (Hawaii: 4.7%)
- Home value (median): $1,117,300 (Hawaii: $764,800)
- Population: 1,085
Idaho: Hidden Spring
- Household income (median): $200,967 (Idaho: $92,780)
- Residents with a bachelor’s degree or higher: 61.4% (Idaho: 30.2%)
- Unemployment rate (5-yr. avg.): 1.6% (Idaho: 3.7%)
- Home value (median): $667,100 (Idaho: $331,600)
- Population: 3,584
Illinois: Winnetka
- Household income (median): $458,988 (Illinois: $108,873)
- Residents with a bachelor’s degree or higher: 89.6% (Illinois: 36.7%)
- Unemployment rate (5-yr. avg.): 3.7% (Illinois: 5.9%)
- Home value (median): $1,192,600 (Illinois: $239,100)
- Population: 12,607
Indiana: Meridian Hills
- Household income (median): $315,086 (Indiana: $88,805)
- Residents with a bachelor’s degree or higher: 78.1% (Indiana: 28.2%)
- Unemployment rate (5-yr. avg.): 3.7% (Indiana: 4.5%)
- Home value (median): $648,400 (Indiana: $183,600)
- Population: 1,745
Iowa: University Heights
- Household income (median): $177,971 (Iowa: $92,053)
- Residents with a bachelor’s degree or higher: 87.8% (Iowa: 30.3%)
- Unemployment rate (5-yr. avg.): 1.6% (Iowa: 3.8%)
- Home value (median): $379,000 (Iowa: $181,600)
- Population: 1,353
Kansas: Mission Hills
- Household income (median): $483,849 (Kansas: $94,263)
- Residents with a bachelor’s degree or higher: 88.1% (Kansas: 34.7%)
- Unemployment rate (5-yr. avg.): 0.5% (Kansas: 4.0%)
- Home value (median): $1,159,900 (Kansas: $189,300)
- Population: 3,567
Kentucky: Anchorage
- Household income (median): $314,691 (Kentucky: $83,093)
- Residents with a bachelor’s degree or higher: 79.5% (Kentucky: 26.5%)
- Unemployment rate (5-yr. avg.): 6.1% (Kentucky: 5.1%)
- Home value (median): $749,000 (Kentucky: $177,000)
- Population: 2,419
Louisiana: Des Allemands
- Household income (median): $168,016 (Louisiana: $83,169)
- Residents with a bachelor’s degree or higher: 10.1% (Louisiana: 26.1%)
- Unemployment rate (5-yr. avg.): 5.7% (Louisiana: 6.5%)
- Home value (median): $142,400 (Louisiana: $198,300)
- Population: 2,340
Maine: Falmouth Foreside
- Household income (median): $241,544 (Maine: $91,599)
- Residents with a bachelor’s degree or higher: 82.2% (Maine: 34.1%)
- Unemployment rate (5-yr. avg.): 2.8% (Maine: 4.0%)
- Home value (median): $617,100 (Maine: $244,800)
- Population: 2,022
Maryland: Chevy Chase Village
- Household income (median): $524,519 (Maryland: $129,642)
- Residents with a bachelor’s degree or higher: 95.6% (Maryland: 42.2%)
- Unemployment rate (5-yr. avg.): 2.5% (Maryland: 5.1%)
- Home value (median): $2,000,001 (Maryland: $380,500)
- Population: 1,885
Massachusetts: Dover
- Household income (median): $484,787 (Massachusetts: $134,568)
- Residents with a bachelor’s degree or higher: 86.3% (Massachusetts: 45.9%)
- Unemployment rate (5-yr. avg.): 13.9% (Massachusetts: 5.3%)
- Home value (median): $1,178,500 (Massachusetts: $483,900)
- Population: 2,512
Michigan: Orchard Lake Village
- Household income (median): $356,177 (Michigan: $92,835)
- Residents with a bachelor’s degree or higher: 66.2% (Michigan: 31.1%)
- Unemployment rate (5-yr. avg.): 3.6% (Michigan: 6.0%)
- Home value (median): $767,900 (Michigan: $201,100)
- Population: 2,342
Minnesota: Deephaven
- Household income (median): $333,727 (Minnesota: $111,341)
- Residents with a bachelor’s degree or higher: 77.5% (Minnesota: 38.2%)
- Unemployment rate (5-yr. avg.): 1.4% (Minnesota: 4.0%)
- Home value (median): $791,700 (Minnesota: $286,800)
- Population: 3,852
Mississippi: Mantachie
- Household income (median): $151,747 (Mississippi: $74,149)
- Residents with a bachelor’s degree or higher: 17.0% (Mississippi: 23.9%)
- Unemployment rate (5-yr. avg.): 3.2% (Mississippi: 6.4%)
- Home value (median): $126,600 (Mississippi: $151,000)
- Population: 1,803
Missouri: Ladue
- Household income (median): $405,058 (Missouri: $89,952)
- Residents with a bachelor’s degree or higher: 84.9% (Missouri: 31.2%)
- Unemployment rate (5-yr. avg.): 1.3% (Missouri: 4.3%)
- Home value (median): $938,300 (Missouri: $199,400)
- Population: 8,934
Montana: Helena Valley Northeast
- Household income (median): $170,943 (Montana: $90,142)
- Residents with a bachelor’s degree or higher: 43.5% (Montana: 34.0%)
- Unemployment rate (5-yr. avg.): 1.5% (Montana: 3.9%)
- Home value (median): $460,500 (Montana: $305,700)
- Population: 4,245
Nebraska: Papillion
- Household income (median): $127,561 (Nebraska: $95,547)
- Residents with a bachelor’s degree or higher: 46.0% (Nebraska: 33.5%)
- Unemployment rate (5-yr. avg.): 2.6% (Nebraska: 3.1%)
- Home value (median): $269,600 (Nebraska: $205,600)
- Population: 24,016
Nevada: Incline Village
- Household income (median): $236,787 (Nevada: $97,955)
- Residents with a bachelor’s degree or higher: 61.9% (Nevada: 26.5%)
- Unemployment rate (5-yr. avg.): 3.5% (Nevada: 7.0%)
- Home value (median): $1,199,700 (Nevada: $373,800)
- Population: 9,163
New Hampshire: Hanover
- Household income (median): $193,451 (New Hampshire: $118,118)
- Residents with a bachelor’s degree or higher: 88.5% (New Hampshire: 39.0%)
- Unemployment rate (5-yr. avg.): 4.5% (New Hampshire: 3.6%)
- Home value (median): $652,200 (New Hampshire: $337,100)
- Population: 8,234
New Jersey: Short Hills
- Household income (median): $481,717 (New Jersey: $135,170)
- Residents with a bachelor’s degree or higher: 89.3% (New Jersey: 42.3%)
- Unemployment rate (5-yr. avg.): 4.8% (New Jersey: 6.2%)
- Home value (median): $1,563,100 (New Jersey: $401,400)
- Population: 14,448
New Mexico: Las Campanas
- Household income (median): $271,639 (New Mexico: $81,035)
- Residents with a bachelor’s degree or higher: 72.6% (New Mexico: 29.1%)
- Unemployment rate (5-yr. avg.): 5.4% (New Mexico: 6.1%)
- Home value (median): $1,347,400 (New Mexico: $216,000)
- Population: 1,521
New York: Brookville
- Household income (median): $617,235 (New York: $120,883)
- Residents with a bachelor’s degree or higher: 79.1% (New York: 38.8%)
- Unemployment rate (5-yr. avg.): 5.7% (New York: 6.2%)
- Home value (median): $2,000,001 (New York: $384,100)
- Population: 2,988
North Carolina: Biltmore Forest
- Household income (median): $331,074 (North Carolina: $92,878)
- Residents with a bachelor’s degree or higher: 80.4% (North Carolina: 33.9%)
- Unemployment rate (5-yr. avg.): 2.4% (North Carolina: 5.0%)
- Home value (median): $1,174,200 (North Carolina: $234,900)
- Population: 1,700
North Dakota: Horace
- Household income (median): $188,124 (North Dakota: $97,221)
- Residents with a bachelor’s degree or higher: 42.8% (North Dakota: 31.4%)
- Unemployment rate (5-yr. avg.): 0.6% (North Dakota: 2.9%)
- Home value (median): $428,300 (North Dakota: $232,500)
- Population: 3,464
Ohio: The Village of Indian Hill
- Household income (median): $399,251 (Ohio: $90,958)
- Residents with a bachelor’s degree or higher: 75.8% (Ohio: 30.4%)
- Unemployment rate (5-yr. avg.): 2.6% (Ohio: 5.0%)
- Home value (median): $1,102,600 (Ohio: $183,300)
- Population: 6,051
Oklahoma: Nichols Hills
- Household income (median): $340,956 (Oklahoma: $84,402)
- Residents with a bachelor’s degree or higher: 77.2% (Oklahoma: 27.3%)
- Unemployment rate (5-yr. avg.): 0.3% (Oklahoma: 4.8%)
- Home value (median): $875,000 (Oklahoma: $170,500)
- Population: 3,854
Oregon: Dunthorpe
- Household income (median): $449,633 (Oregon: $103,330)
- Residents with a bachelor’s degree or higher: 80.9% (Oregon: 35.5%)
- Unemployment rate (5-yr. avg.): 1.2% (Oregon: 5.5%)
- Home value (median): $1,508,300 (Oregon: $423,100)
- Population: 1,767
Pennsylvania: Villanova
- Household income (median): $410,270 (Pennsylvania: $100,837)
- Residents with a bachelor’s degree or higher: 88.3% (Pennsylvania: 33.8%)
- Unemployment rate (5-yr. avg.): 5.5% (Pennsylvania: 5.4%)
- Home value (median): $876,900 (Pennsylvania: $226,200)
- Population: 8,081
Rhode Island: Charlestown
- Household income (median): $165,663 (Rhode Island: $106,511)
- Residents with a bachelor’s degree or higher: 54.7% (Rhode Island: 36.3%)
- Unemployment rate (5-yr. avg.): 9.2% (Rhode Island: 5.8%)
- Home value (median): $496,200 (Rhode Island: $343,100)
- Population: 1,702
South Carolina: Kiawah Island
- Household income (median): $371,032 (South Carolina: $88,488)
- Residents with a bachelor’s degree or higher: 86.9% (South Carolina: 30.6%)
- Unemployment rate (5-yr. avg.): 3.8% (South Carolina: 5.1%)
- Home value (median): $1,423,900 (South Carolina: $216,200)
- Population: 2,130
South Dakota: Dakota Dunes
- Household income (median): $184,206 (South Dakota: $90,706)
- Residents with a bachelor’s degree or higher: 57.5% (South Dakota: 30.4%)
- Unemployment rate (5-yr. avg.): 0.8% (South Dakota: 3.1%)
- Home value (median): $437,200 (South Dakota: $219,500)
- Population: 3,997
Tennessee: Belle Meade
- Household income (median): $487,916 (Tennessee: $89,267)
- Residents with a bachelor’s degree or higher: 88.3% (Tennessee: 29.7%)
- Unemployment rate (5-yr. avg.): 1.0% (Tennessee: 5.0%)
- Home value (median): $2,000,001 (Tennessee: $232,100)
- Population: 2,933
Texas: Westlake
- Household income (median): $543,825 (Texas: $102,197)
- Residents with a bachelor’s degree or higher: 71.7% (Texas: 32.3%)
- Unemployment rate (5-yr. avg.): 2.4% (Texas: 5.2%)
- Home value (median): $2,000,001 (Texas: $238,000)
- Population: 1,300
Utah: East Basin
- Household income (median): $290,538 (Utah: $111,416)
- Residents with a bachelor’s degree or higher: 71.1% (Utah: 36.1%)
- Unemployment rate (5-yr. avg.): 0.3% (Utah: 3.3%)
- Home value (median): $987,000 (Utah: $408,500)
- Population: 3,646
Vermont: Woodstock
- Household income (median): $139,811 (Vermont: $97,810)
- Residents with a bachelor’s degree or higher: 66.8% (Vermont: 41.7%)
- Unemployment rate (5-yr. avg.): N/A (Vermont: 3.8%)
- Home value (median): $605,800 (Vermont: $272,400)
- Population: 1,033
Virginia: Great Falls
- Household income (median): $373,735 (Virginia: $120,553)
- Residents with a bachelor’s degree or higher: 84.5% (Virginia: 41.0%)
- Unemployment rate (5-yr. avg.): 3.3% (Virginia: 4.3%)
- Home value (median): $1,246,100 (Virginia: $339,800)
- Population: 14,968
Washington: Clyde Hill
- Household income (median): $483,738 (Washington: $122,880)
- Residents with a bachelor’s degree or higher: 75.3% (Washington: 38.0%)
- Unemployment rate (5-yr. avg.): 3.2% (Washington: 4.9%)
- Home value (median): $2,000,001 (Washington: $473,400)
- Population: 3,108
West Virginia: Shenandoah Junction
- Household income (median): $168,972 (West Virginia: $75,575)
- Residents with a bachelor’s degree or higher: 15.7% (West Virginia: 22.7%)
- Unemployment rate (5-yr. avg.): N/A (West Virginia: 6.0%)
- Home value (median): $160,700 (West Virginia: $145,800)
- Population: 1,205
Wisconsin: River Hills
- Household income (median): $320,733 (Wisconsin: $94,995)
- Residents with a bachelor’s degree or higher: 77.4% (Wisconsin: 32.0%)
- Unemployment rate (5-yr. avg.): 1.4% (Wisconsin: 3.4%)
- Home value (median): $677,300 (Wisconsin: $231,400)
- Population: 1,530
Wyoming: Hoback
- Household income (median): $234,774 (Wyoming: $94,901)
- Residents with a bachelor’s degree or higher: 43.9% (Wyoming: 29.0%)
- Unemployment rate (5-yr. avg.): 1.2% (Wyoming: 3.8%)
- Home value (median): $1,125,000 (Wyoming: $269,900)
- Population: 1,874
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
