Money Journal has been crowned as the U.S.’s wealthiest city, San Jose, for two consecutive years. IBM and Yahoo and the like dominate the quickly progressing industry of technology, and this helped to hoist San Jose into the title of 2014’s wealthiest city. Regarding population density, San Jose boats more millionaires than any of the other U.S. cities.
Long Island, New York, or as dubbed by the locals, “The Island,” was granted second place on the list of the Wealthiest 10 U.S. Cities in 2014. Many of the wealthiest towns in the country reside within the island, $1.6 million standing as the income of the average household in Lloyd Harbor and South Point. Many prosperous Wall Street traders made their homes on The Island.
1- San Jose, CA – Silicon Valley stands as America’s wealthiest location, boasting incomes averaging $90,737 annually as stated by 24/7 Wall Street. A number of America’s wealthiest companies built their headquarters here, including Apple, Oracle and Google. In addition, San Jose has some of the highest living costs in the nation. Individuals without possession of advanced technology degrees or options in stock may find themselves unable to build a life in San Jose.
2- Long Island, N.Y. – On Long Island, the stock market is what drives the wealth of households and incomes are commonplace in Muttontown, South Point, Bay Cove and Munsey Park to exceed $1 million. The prices of homes see the pressures of Long Island’s wealth, which are soaring to the highest prices for real estate in the regaion. According to Bloomberg, America’s Wealthiest Town, Brookville, NY, is located on The Island.
3- Bridgeport, Conn. – With $79,841 as an average yearly income, Bridgeport lies a brief train from away from Manhattan and Boston. This city is known to be a number of hedge funds’ headquarters and home to tycoons of Wall Street. World Wrestling Entertainment also holds its headquarters in Bridgeport.
4- San Francisco, CA – A greater number of rich companies and workers with high salaries have been attracted by the Bay Area than any other U.S. region. This has a lot to do with how close it is to San Jose and Silicon Valley. Many people complain, stating San Francisco is a mere bedroom community for San Jose. Busses are run by Google as well as other companies to bring workers to offices elsewhere.
5- Boston, Mass. – With low unemployment and income averaging nearly $72,000 annually, world class universities such as MIT and Harvard have generated wealth that subsequently spread onto high tech. The secret to obtaining wealth in Boston is being educated; locals are proud of their “Boston Strength.” Closeness to New York City is helpful.
6- Washington D.C. – The capital of the U.S. and the suburbs around it are a wealth magnet. The average income in households in Arlington and D.C. has exceeded $88,000 annually. A factor of this is the government jobs offering high pay, but this has increased living costs in the area as well as higher security levels necessary for the protection of the capital of the nation.
7- Chicago, Ill. – The seventh riches American city is the windy city as a result of the number of headquarters there for world business, as well as the Mercantile Exchange. It was declared by Bloomberg Business Weekly that Chicago lakefront suburb Kenilworth was one of the richest towns in America. The average Kenilworth household is worth around $1.6 million. Another Chicago lakefront suburb by the name of Glencoe has household values averaging $1.5 million.
8- Los Angeles, CA – Aside from the growing taxes and an economy hit hard, Los Angeles remains quite a thriving region and one of the communities in the nation considered to be more multi-faceted. Home values often, for a small track home exceed $2 million, some of the greatest home values in the nation. California is in the lead for the nation in revolutions in technology and is also a sort of drawing card wealthy individuals utilize from the Beverly Hills stretching to the Malibu Pacific coastline.
9- Boulder, CO. – According to the Techscio blog as well as Colorado residents, the “People’s Republic of Boulder” as the locals affectionately call the left-leaning Colorado college town, is quite wealthy. Techscio claims that 9.4% of residents in Boulder are among the highest 5% of income earners in the U.S. Start-ups and technology are the economical drivers in boulder, where the cost of living is high and roughly 7,000 college students attend the University of Colorado.
10- Des Moines, Iowa – Many media outlets, which include Forbes, Kiplinger and the Today Show have declared Des Moines to be the wealthiest city for the average person. Individuals earning over $70,000 are able to enjoy a luxurious life within Des Moines due to the higher standard of living, 10% under the average nationally.
Money experts think Des Moines could be the next Austin. Like Austin, Des Moines is the state capitol with world class universities, high tech start-ups and a booming agriculture industry.
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