The Richest Town in Every State

Special Report

Published: March 7, 2024 11:50 am

Generating $27.4 trillion in 2023, the U.S. economy is by far the largest in the world. It is also among the most developed, diversified, and stable. As the preeminent global economic superpower, the U.S. has one of the highest standards of living of any country, and one of the wealthiest populations.

According to the 2023 Global Wealth Report from the Swiss investment bank UBS, the U.S. is home to an estimated 22.7 million millionaires, or about 2-in-every-5 millionaires globally. Even many Americans without a seven-plus figure net worth are doing relatively well financially. According to the U.S. Census Bureau’s 2022 American Community Survey, the average income among American households stands at $105,833. And in many cities and towns across the U.S., incomes are far higher than average.

Using five-year data from the 2022 ACS, 24/7 Wall St. identified the richest town in every state. Towns – defined for the purposes of this story as any city, town, village, or unincorporated community with a population between 1,000 and 25,000 people – were ranked on average household income. All supplemental data are also five-year ACS estimates.

Among the towns on this list, average household incomes range from about $127,600 to more than $600,000. In most of these towns, over a third of all households earn at least $200,000 annually.

High incomes in these places are partially attributable to high educational attainment rates and strong job markets. According to the Bureau of Labor Statistics, the typical worker with a bachelor’s degree earns about 68% more than a worker with only a high school diploma. In all but three towns on this list, the share of adults with a bachelor’s degree or higher exceeds the 34.3% national bachelor’s degree attainment rate, and in most, over 70% of adults have a four-year degree. Additionally, in the vast majority of these towns, the five-year average unemployment rate is well below the 5.3% jobless rate. (Here is a look at the colleges with the most upward mobility.)

Home values are often a reflection of what local residents can afford, and not surprisingly, homeownership is prohibitively expensive for most budgets in many of these towns. In most communities on this list, the typical home is worth over half a million dollars, and in 23 states, the median home value in the wealthiest town is over $1 million. (These are the states with the worst housing shortages for low income Americans.)

Alabama: Mountain Brook

Avg. annual household income: $267,337 (Alabama: $82,992)
Households earning $200,000+ annually: 42.1% (Alabama: 6.5%)
Median home value: $803,000 (Alabama: $179,400)
Adults with a bachelor’s degree or higher: 85.8% (Alabama: 27.2%)
5-yr. avg. unemployment rate: 0.9% (Alabama: 5.1%)
Population: 22,259
No. of towns considered in ranking: 298

Alaska: Chena Ridge

Avg. annual household income: $153,410 (Alaska: $110,602)
Households earning $200,000+ annually: 24.6% (Alaska: 12.3%)
Median home value: $359,000 (Alaska: $318,000)
Adults with a bachelor’s degree or higher: 49.6% (Alaska: 30.7%)
5-yr. avg. unemployment rate: 6.0% (Alaska: 6.0%)
Population: 5,321
No. of towns considered in ranking: 72

Arizona: Paradise Valley

Avg. annual household income: $385,643 (Arizona: $98,569)
Households earning $200,000+ annually: 54.9% (Arizona: 9.2%)
Median home value: $2,000,001 (Arizona: $321,400)
Adults with a bachelor’s degree or higher: 73.6% (Arizona: 31.8%)
5-yr. avg. unemployment rate: 2.5% (Arizona: 5.3%)
Population: 12,672
No. of towns considered in ranking: 173

Arkansas: Goshen

Washington County Arkansas Incorporated and Unincorporated areas Goshen Highlighted by DemocraticLuntz

Washington County Arkansas Incorporated and Unincorporated areas Goshen Highlighted (CC BY-SA 4.0) by DemocraticLuntz

Avg. annual household income: $218,407 (Arkansas: $79,592)
Households earning $200,000+ annually: 38.8% (Arkansas: 5.6%)
Median home value: $590,000 (Arkansas: $162,400)
Adults with a bachelor’s degree or higher: 66.4% (Arkansas: 24.7%)
5-yr. avg. unemployment rate: 1.5% (Arkansas: 5.1%)
Population: 2,632
No. of towns considered in ranking: 193

California: Atherton

Avg. annual household income: $594,651 (California: $130,718)
Households earning $200,000+ annually: 68.1% (California: 17.9%)
Median home value: $2,000,001 (California: $659,300)
Adults with a bachelor’s degree or higher: 86.0% (California: 35.9%)
5-yr. avg. unemployment rate: 2.2% (California: 6.4%)
Population: 7,124
No. of towns considered in ranking: 760

Colorado: Cherry Hills Village

Avg. annual household income: $486,405 (Colorado: $117,508)
Households earning $200,000+ annually: 66.9% (Colorado: 13.9%)
Median home value: $2,000,001 (Colorado: $465,900)
Adults with a bachelor’s degree or higher: 85.2% (Colorado: 43.7%)
5-yr. avg. unemployment rate: 2.8% (Colorado: 4.5%)
Population: 6,405
No. of towns considered in ranking: 188

Connecticut: Tokeneke

Avg. annual household income: $588,687 (Connecticut: $130,601)
Households earning $200,000+ annually: 73.0% (Connecticut: 17.0%)
Median home value: $2,000,001 (Connecticut: $323,700)
Adults with a bachelor’s degree or higher: 96.7% (Connecticut: 41.4%)
5-yr. avg. unemployment rate: 5.7% (Connecticut: 5.9%)
Population: 2,575
No. of towns considered in ranking: 134

Delaware: Greenville

Avg. annual household income: $225,997 (Delaware: $104,600)
Households earning $200,000+ annually: 36.9% (Delaware: 10.3%)
Median home value: $936,500 (Delaware: $305,200)
Adults with a bachelor’s degree or higher: 81.7% (Delaware: 34.5%)
5-yr. avg. unemployment rate: 3.5% (Delaware: 5.4%)
Population: 2,824
No. of towns considered in ranking: 52

Florida: Palm Beach

Avg. annual household income: $365,991 (Florida: $96,992)
Households earning $200,000+ annually: 48.3% (Florida: 9.0%)
Median home value: $1,679,800 (Florida: $292,200)
Adults with a bachelor’s degree or higher: 68.5% (Florida: 32.3%)
5-yr. avg. unemployment rate: 5.6% (Florida: 5.0%)
Population: 9,205
No. of towns considered in ranking: 611

Georgia: Druid Hills

Avg. annual household income: $212,511 (Georgia: $99,345)
Households earning $200,000+ annually: 34.9% (Georgia: 10.0%)
Median home value: $744,600 (Georgia: $245,900)
Adults with a bachelor’s degree or higher: 85.7% (Georgia: 33.6%)
5-yr. avg. unemployment rate: 3.3% (Georgia: 5.2%)
Population: 8,467
No. of towns considered in ranking: 335

Hawaii: Poipu

Avg. annual household income: $232,264 (Hawaii: $122,902)
Households earning $200,000+ annually: 29.2% (Hawaii: 15.9%)
Median home value: $1,117,300 (Hawaii: $764,800)
Adults with a bachelor’s degree or higher: 49.2% (Hawaii: 34.7%)
5-yr. avg. unemployment rate: 2.3% (Hawaii: 4.7%)
Population: 1,085
No. of towns considered in ranking: 113

Idaho: Hidden Spring

Avg. annual household income: $200,967 (Idaho: $92,780)
Households earning $200,000+ annually: 36.8% (Idaho: 7.3%)
Median home value: $667,100 (Idaho: $331,600)
Adults with a bachelor’s degree or higher: 61.4% (Idaho: 30.2%)
5-yr. avg. unemployment rate: 1.6% (Idaho: 3.7%)
Population: 3,584
No. of towns considered in ranking: 89

Illinois: Winnetka

Avg. annual household income: $458,988 (Illinois: $108,873)
Households earning $200,000+ annually: 64.0% (Illinois: 12.1%)
Median home value: $1,192,600 (Illinois: $239,100)
Adults with a bachelor’s degree or higher: 89.6% (Illinois: 36.7%)
5-yr. avg. unemployment rate: 3.7% (Illinois: 5.9%)
Population: 12,607
No. of towns considered in ranking: 616

Indiana: Meridian Hills

Meridian Hills historical marker by ONUnicorn

Meridian Hills historical marker (CC BY-SA 4.0) by ONUnicorn

Avg. annual household income: $315,086 (Indiana: $88,805)
Households earning $200,000+ annually: 49.4% (Indiana: 6.7%)
Median home value: $648,400 (Indiana: $183,600)
Adults with a bachelor’s degree or higher: 78.1% (Indiana: 28.2%)
5-yr. avg. unemployment rate: 3.7% (Indiana: 4.5%)
Population: 1,745
No. of towns considered in ranking: 314

Iowa: University Heights

University Heights IA Melrose triangle by American007

University Heights IA Melrose triangle (CC BY-SA 3.0) by American007

Avg. annual household income: $177,971 (Iowa: $92,053)
Households earning $200,000+ annually: 22.5% (Iowa: 7.1%)
Median home value: $379,000 (Iowa: $181,600)
Adults with a bachelor’s degree or higher: 87.8% (Iowa: 30.3%)
5-yr. avg. unemployment rate: 1.6% (Iowa: 3.8%)
Population: 1,353
No. of towns considered in ranking: 264

Kansas: Mission Hills

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Avg. annual household income: $483,849 (Kansas: $94,263)
Households earning $200,000+ annually: 68.2% (Kansas: 8.0%)
Median home value: $1,159,900 (Kansas: $189,300)
Adults with a bachelor’s degree or higher: 88.1% (Kansas: 34.7%)
5-yr. avg. unemployment rate: 0.5% (Kansas: 4.0%)
Population: 3,567
No. of towns considered in ranking: 187

Kentucky: Anchorage

Avg. annual household income: $314,691 (Kentucky: $83,093)
Households earning $200,000+ annually: 50.4% (Kentucky: 6.0%)
Median home value: $749,000 (Kentucky: $177,000)
Adults with a bachelor’s degree or higher: 79.5% (Kentucky: 26.5%)
5-yr. avg. unemployment rate: 6.1% (Kentucky: 5.1%)
Population: 2,419
No. of towns considered in ranking: 234

Louisiana: Des Allemands

Avg. annual household income: $168,016 (Louisiana: $83,169)
Households earning $200,000+ annually: 21.3% (Louisiana: 6.8%)
Median home value: $142,400 (Louisiana: $198,300)
Adults with a bachelor’s degree or higher: 10.1% (Louisiana: 26.1%)
5-yr. avg. unemployment rate: 5.7% (Louisiana: 6.5%)
Population: 2,340
No. of towns considered in ranking: 255

Maine: Falmouth Foreside

Avg. annual household income: $241,544 (Maine: $91,599)
Households earning $200,000+ annually: 39.3% (Maine: 7.4%)
Median home value: $617,100 (Maine: $244,800)
Adults with a bachelor’s degree or higher: 82.2% (Maine: 34.1%)
5-yr. avg. unemployment rate: 2.8% (Maine: 4.0%)
Population: 2,022
No. of towns considered in ranking: 101

Maryland: Chevy Chase Village

Avg. annual household income: $524,519 (Maryland: $129,642)
Households earning $200,000+ annually: 76.4% (Maryland: 17.9%)
Median home value: $2,000,001 (Maryland: $380,500)
Adults with a bachelor’s degree or higher: 95.6% (Maryland: 42.2%)
5-yr. avg. unemployment rate: 2.5% (Maryland: 5.1%)
Population: 1,885
No. of towns considered in ranking: 278

Massachusetts: Dover

Avg. annual household income: $484,787 (Massachusetts: $134,568)
Households earning $200,000+ annually: 59.8% (Massachusetts: 19.3%)
Median home value: $1,178,500 (Massachusetts: $483,900)
Adults with a bachelor’s degree or higher: 86.3% (Massachusetts: 45.9%)
5-yr. avg. unemployment rate: 13.9% (Massachusetts: 5.3%)
Population: 2,512
No. of towns considered in ranking: 159

Michigan: Orchard Lake Village

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Avg. annual household income: $356,177 (Michigan: $92,835)
Households earning $200,000+ annually: 54.7% (Michigan: 8.2%)
Median home value: $767,900 (Michigan: $201,100)
Adults with a bachelor’s degree or higher: 66.2% (Michigan: 31.1%)
5-yr. avg. unemployment rate: 3.6% (Michigan: 6.0%)
Population: 2,342
No. of towns considered in ranking: 386

Minnesota: Deephaven

Lake Minnetonka (2626642938) by Tony Webster

Lake Minnetonka (2626642938) (CC BY 2.0) by Tony Webster

Avg. annual household income: $333,727 (Minnesota: $111,341)
Households earning $200,000+ annually: 41.2% (Minnesota: 11.9%)
Median home value: $791,700 (Minnesota: $286,800)
Adults with a bachelor’s degree or higher: 77.5% (Minnesota: 38.2%)
5-yr. avg. unemployment rate: 1.4% (Minnesota: 4.0%)
Population: 3,852
No. of towns considered in ranking: 320

Mississippi: Mantachie

Mantachie, Mississippi city limits by Patriarca12

Mantachie, Mississippi city limits (CC BY-SA 3.0) by Patriarca12

Avg. annual household income: $151,747 (Mississippi: $74,149)
Households earning $200,000+ annually: 8.1% (Mississippi: 4.7%)
Median home value: $126,600 (Mississippi: $151,000)
Adults with a bachelor’s degree or higher: 17.0% (Mississippi: 23.9%)
5-yr. avg. unemployment rate: 3.2% (Mississippi: 6.4%)
Population: 1,803
No. of towns considered in ranking: 179

Missouri: Ladue

Avg. annual household income: $405,058 (Missouri: $89,952)
Households earning $200,000+ annually: 61.3% (Missouri: 7.3%)
Median home value: $938,300 (Missouri: $199,400)
Adults with a bachelor’s degree or higher: 84.9% (Missouri: 31.2%)
5-yr. avg. unemployment rate: 1.3% (Missouri: 4.3%)
Population: 8,934
No. of towns considered in ranking: 347

Montana: Helena Valley Northeast

Lewis and Clark County Montana Incorporated and Unincorporated areas Helena Valley Northeast Highlighted by Arkyan

Lewis and Clark County Montana Incorporated and Unincorporated areas Helena Valley Northeast Highlighted (CC BY-SA 3.0) by Arkyan

Avg. annual household income: $170,943 (Montana: $90,142)
Households earning $200,000+ annually: 16.9% (Montana: 7.2%)
Median home value: $460,500 (Montana: $305,700)
Adults with a bachelor’s degree or higher: 43.5% (Montana: 34.0%)
5-yr. avg. unemployment rate: 1.5% (Montana: 3.9%)
Population: 4,245
No. of towns considered in ranking: 90

Nebraska: Papillion

Avg. annual household income: $127,561 (Nebraska: $95,547)
Households earning $200,000+ annually: 14.6% (Nebraska: 7.8%)
Median home value: $269,600 (Nebraska: $205,600)
Adults with a bachelor’s degree or higher: 46.0% (Nebraska: 33.5%)
5-yr. avg. unemployment rate: 2.6% (Nebraska: 3.1%)
Population: 24,016
No. of towns considered in ranking: 107

Nevada: Incline Village

Avg. annual household income: $236,787 (Nevada: $97,955)
Households earning $200,000+ annually: 38.4% (Nevada: 8.7%)
Median home value: $1,199,700 (Nevada: $373,800)
Adults with a bachelor’s degree or higher: 61.9% (Nevada: 26.5%)
5-yr. avg. unemployment rate: 3.5% (Nevada: 7.0%)
Population: 9,163
No. of towns considered in ranking: 52

New Hampshire: Hanover

Avg. annual household income: $193,451 (New Hampshire: $118,118)
Households earning $200,000+ annually: 38.0% (New Hampshire: 14.0%)
Median home value: $652,200 (New Hampshire: $337,100)
Adults with a bachelor’s degree or higher: 88.5% (New Hampshire: 39.0%)
5-yr. avg. unemployment rate: 4.5% (New Hampshire: 3.6%)
Population: 8,234
No. of towns considered in ranking: 58

New Jersey: Short Hills

Avg. annual household income: $481,717 (New Jersey: $135,170)
Households earning $200,000+ annually: 72.9% (New Jersey: 19.2%)
Median home value: $1,563,100 (New Jersey: $401,400)
Adults with a bachelor’s degree or higher: 89.3% (New Jersey: 42.3%)
5-yr. avg. unemployment rate: 4.8% (New Jersey: 6.2%)
Population: 14,448
No. of towns considered in ranking: 504

New Mexico: Las Campanas

Panoramic sunset over desert outside Santa Fe by Grendelkhan

Panoramic sunset over desert outside Santa Fe (CC BY-SA 3.0) by Grendelkhan

Avg. annual household income: $271,639 (New Mexico: $81,035)
Households earning $200,000+ annually: 44.7% (New Mexico: 6.1%)
Median home value: $1,347,400 (New Mexico: $216,000)
Adults with a bachelor’s degree or higher: 72.6% (New Mexico: 29.1%)
5-yr. avg. unemployment rate: 5.4% (New Mexico: 6.1%)
Population: 1,521
No. of towns considered in ranking: 148

New York: Brookville

Avg. annual household income: $617,235 (New York: $120,883)
Households earning $200,000+ annually: 71.9% (New York: 15.2%)
Median home value: $2,000,001 (New York: $384,100)
Adults with a bachelor’s degree or higher: 79.1% (New York: 38.8%)
5-yr. avg. unemployment rate: 5.7% (New York: 6.2%)
Population: 2,988
No. of towns considered in ranking: 781

North Carolina: Biltmore Forest

Avg. annual household income: $331,074 (North Carolina: $92,878)
Households earning $200,000+ annually: 46.3% (North Carolina: 8.5%)
Median home value: $1,174,200 (North Carolina: $234,900)
Adults with a bachelor’s degree or higher: 80.4% (North Carolina: 33.9%)
5-yr. avg. unemployment rate: 2.4% (North Carolina: 5.0%)
Population: 1,700
No. of towns considered in ranking: 407

North Dakota: Horace

Avg. annual household income: $188,124 (North Dakota: $97,221)
Households earning $200,000+ annually: 36.5% (North Dakota: 8.4%)
Median home value: $428,300 (North Dakota: $232,500)
Adults with a bachelor’s degree or higher: 42.8% (North Dakota: 31.4%)
5-yr. avg. unemployment rate: 0.6% (North Dakota: 2.9%)
Population: 3,464
No. of towns considered in ranking: 48

Ohio: The Village of Indian Hill

Avg. annual household income: $399,251 (Ohio: $90,958)
Households earning $200,000+ annually: 54.5% (Ohio: 7.6%)
Median home value: $1,102,600 (Ohio: $183,300)
Adults with a bachelor’s degree or higher: 75.8% (Ohio: 30.4%)
5-yr. avg. unemployment rate: 2.6% (Ohio: 5.0%)
Population: 6,051
No. of towns considered in ranking: 625

Oklahoma: Nichols Hills

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