Where do the wealthiest Americans live? It may be tempting to say New York City or Beverly Hills, but alas, America is way too vast and diverse for that oversimplification. Using Bloomberg’s annual Richest Places annual index, which compiles a list of the cities and towns with the biggest average incomes, we hand-selected ten affluent towns from the list and linked them up with current Coldwell Banker real estate listings in these enviable locations. What does luxury living look like in some of America’s wealthiest neighborhoods? You’re about to find out!
1. Atherton, CA.
Median Household Income: $525,324
For the fourth straight year, Atherton topped the 2020 list. Situated between San Jose and San Francisco in what everyone knows is “Silicon Valley,” Atherton has an average household income of more than $525,000 and is reportedly home to tech billionaires including Google’s Eric Schmidt and Facebook’s Sheryl Sandberg. This year, the quiet tree-lined community became the first and so far only enclave to top the half-million dollar mark since Bloomberg started compiling the index in 2017.
2. Scarsdale, NY.
Median Household Income: $452,041
Located in tony Westchester County, Scarsdale is the East Coast’s wealthiest town and has consistently found a place on Bloomberg’s list with the median household income just over $450,000. The village’s proximity to New York City (only about 35 minutes north of the city) and small-town feel, thanks to a population of just 18,000 people, has made it a favorite suburb for those who are looking for privacy and more room to roam.
3. Hillsborough, CA.
Median Household Income: $430,681
Atherton’s other affluent Silicon Valley neighbor, Hillsborough, has also consistently kept pace with the high-tech corridor. With a median household income of over $430,000, Hillsborough offers a rural atmosphere characterized by private homes and mansions set on large, spacious lots yet still close to restaurants, coffee shops, and parks.
4. Highland Park, TX.
Median Household Income: $365,025
Highland Park is the Lonestar State’s most affluent town. It’s easy to see why. For starters, the central Dallas County is located only four miles north of downtown, two miles from Love Field Airport and about 30 minutes from DFW International Airport. With a median household income of over $350,000, it is home to some of the highest-dollar residential real estates in the country, great public schools, high-class boutiques and the Dallas Country Club.
5. Glencoe, IL.
Median Household Income: $358,543
Set on Chicago’s North Shore, Glencoe has been called the “perfect suburb” with its excellent public schools, distinctive community planning and strict zoning, which has created a village that more closely resembles a forest preserve than a suburb of a major metropolitan area. The village is often recognized as one of the best places to raise a family in Illinois.
6. Winnetka, IL.
Median Household Income: $353,700
Tree-lined streets, sandy beaches, renowned schools, unique shopping areas and numerous recreation choices have all helped establish Winnetka as one of the most desirable communities in the greater Chicago area. Set only 18 miles from the Loop, Winnetka continues to top city lists, like Bloomberg and CNN Money, which has ranked it as one of the best places to live several years in a row.
7. Westport, Connecticut
Median Household Income: $304,439
Westport, or as the locals sometimes jokingly call it ‘the Bestport,’ truly enjoy the best of both worlds: a quiet family-oriented community away from it all despite being only 52 miles north of New York City. Its sought-after waterfront position along Long Island Sound within Connecticut’s Gold Coast, fine schools, variety of restaurants, abundant recreation and cosmopolitan atmosphere has made it a longtime favorite among executives and important players in the financial services industry. After all, what more could you expect from the suburban backdrop to TV shows like “Bewitched” and “American Housewife”?
7. West University Place, TX.
Median Household Income: $330,459
West University Place may enjoy a location near Rice University, but you will hardly ever see any students here. This quiet, affluent town is beloved for its proximity to the Houston-The Woodlands-Sugar Land metropolitan area and only 20 mintues from downtown Houston, top-ranked schools, low crime rates and strong sense of community with parks, recreation centers, library and access to Rice Village. No wonder the median home price is consistently over $1 million.
8. Rumson, NJ.
Median Household Income: $337,696
Despite its location in Monmouth County, New Jersey, Rumson is thought to be part of the New York Metropolitan Area, given its easy commute to Manhattan. The historic waterfront town occupies a picturesque peninsula overlooking the ocean. Once considered a resort town for elite New Yorkers who once summered there, it still enjoys a reputation as a playground for the wealthy to this day. Reputable schools, beautiful gardens and parks, village-like commercial districts and nearby boating marinas are just some of the reasons why the wealthiest families continue to flock here.
9. Paradise Valley, AZ.
Median Household Income: $328,353
Paradise Valley is a small, affluent town comprising 16 square miles Maricopa County that borders the cities of Phoenix and Scottsdale. Long considered a snowbird haven and retiree’s paradise (due to its low tax base), the town is known for its posh shopping, restaurants, golfing and resorts, such as the forthcoming 215-room Ritz-Carlton Paradise Valley resort in the $2 billion new luxury development, The Palmeraie. About one-sixth of its 14,000 residents are retirement age; current residents include billionaire Campbell Soup heir Bennett Dorrance, 67, and ex-U.S. Vice President Dan Quayle, 66, according to Forbes.
10. Old Greenwich, CT.
Median Household Income: $321,377
Mansion Global called Old Greenwich “the grande dame of Connecticut’s tony town of Greenwich” and that’s an apt description of this historic enclave located about an hour’s ride from midtown Manhattan and only five minutes from Stamford. Established in 1640 when the founding families bought the land from Native Americans for 25 coats, Old Greenwich is steeped in history — which gives it a unique charm. Old world vibes, a beachy waterfront setting, historic homes and the lowest property tax rate in the New York metro area (according to local real estate agents) have been among the reasons why Old Greenwich continues to attract the well-heeled to its shores and why it has consistently held a ranking on Bloomberg’s annual report.