The Nest

NestApple's Real Estate Blog

Featuring real estate articles and information to help real estate buyers and sellers. The Nest features writings from Georges Benoliel and other real estate professionals. Georges is the Co-Founder of NestApple and has been working as an active real estate investor for over a decade.

10 Richest Cities in the US – 2023

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Numerous affluent communities in the United States cater to buyers seeking a lavish lifestyle. These areas generally provide a harmonious blend of security, top-notchrichest cities in the US educational institutions, and a serene way of life. Continue reading to learn about the Richest Cities in the U.S. as of 2023. They are among the world’s most expensive cities, and the local housing market is on fire.

Recent nonpartisan data from USAFacts shows that American household incomes have increased, even after adjusting for inflation.It is particularly evident in the wealthiest American households. The U.S. Census reports that those in the 90th percentile earn $211,956 per year, over 13 times more than those in the 10th percentile who earn $15,660 annually. This income disparity is the widest since at least 1967 and defines the housing and local real estate markets.

1. The Richest City in the U.S.: Atherton, CA

Are you aware that Atherton, California, is recognized as the wealthiest city in the U.S.? The median household income in Atherton is an astonishing $450k, almost seven times higher than the average American household income of $69k. Despite having a small population of only 6,950 residents, Atherton is famous for its exclusive and affluent status. and its upscale and wealthy class.

Atherton is a rich and exclusive area renowned for its rigorous zoning regulations. Authorities allow only one single-family house per acre, ensuring the city retains its spacious and lavish ambiance. It is between San Francisco and San Jose, granting residents convenient access to both cities. Atherton is home to numerous tech executives and investors who work in the Bay Area.

Homes in Atherton are costly, with most properties costing over $5 million. This makes Atherton the most expensive city in the United States to live in and to purchase a home.

2. The second Richest City in the US, Cherry Hills Village, CO

Cherry Hills Village stands among the wealthiest cities in America. However, it comes with a hefty price tag, as the median income is $395k, and the average cost of homes is around $2,831k.

The city, located near Denver, is widely considered one of the top places to reside in the United States.

Cherry Hills Village is known for its high cost of living, but it’s also home to excellent public schools, low crime rates (with only 13.04 crimes per 1,000 residents), and various enjoyable activities for all. Whether you’re interested in visiting museums, exploring nature, or indulging in luxury shopping, Cherry Hills Village has something for everyone’s taste.

3. The third Richest City in the US, Los Altos Hills, CA

Los Altos Hills, California, is considered one of the priciest locations in the United States. Living in this breathtaking and elite city may be an ideal choice if you seek exclusivity and natural beauty in California. y and natural beauty in California.

Los Altos Hills is one of the wealthiest cities in the U.S., with a median household income of $387k per year.

Los Altos Hills is a favored spot among affluent San Jose and San Francisco tech entrepreneurs. Like Atherton, located nearby, Los Altos Hills offers easy access to the cities, breathtaking views, and many outdoor recreational options.

4. Hillsborough, CA

Hillsborough, a city in California, is one of the priciest places to reside in the United States. The average annual household income in Hillsborough amounts to $373,100. Despite the high cost of living, the city boasts a scenic location and a warm and welcoming ambiance.

Residents can enjoy various outdoor activities in the beautiful parks. Additionally, the town offers an array of top-notch boutiques and restaurants, making it an excellent destination for shopping and dining.

Hillsborough is considered one of the wealthiest cities in the USA, with an average home price of $5.4 million.

5. Short Hills, NJ

Short Hills, NJ, is among the wealthiest cities in the U.S. This cozy townhouse has around 15,000 residents with an average annual household income of $362,910. The average price of a home in this area is $1,910,792. People know Short Hills for its high-quality schools, which makes it an ideal place for families with children.

Short Hills is located in the North-Central region of N.J., making it convenient for residents to commute to New York by car or train. In addition to its great location, Short Hills also offers plenty of activities for residents to enjoy. The Short Hills Mall provides a luxurious shopping experience, while there are also many excellent restaurants in the area. Furthermore, you can find some of the best golf courses in N.J. in the Short Hills vicinity.

6. Highland Park, TX

Highland Park, Texas, is among the most affluent cities in America. The median household income in the city stands at $354,905, which means that residents are around five times wealthier than the typical city dwellers in the U.S.

Highland Park, located near Dallas, is a serene suburb renowned for its tranquil and idyllic atmosphere. It is an ideal place for affluent families who prefer to live near the city.

Highland Park homes are pretty pricey, with a median selling price of $2,390k in 2022.

7. Scarsdale, NY

Located near New York City, people know Scarsdale, NY, for its affluence and desirability. It boasts a median household income of $352k and a population of 18,000.

Scarsdale offers a peaceful lifestyle for residents who can easily commute to New York for work. The city has a serene vibe and is surrounded by woods, parks, and nature reserves for residents to explore. In addition, there are numerous restaurants for dining.

Overall, Scarsdale is ideal for young, affluent professionals and families as it provides ample career opportunities and a fulfilling life with more tranquility than New York City.

8. Darien, CT

We have compiled a list of the richest cities in America and found that only one community from New England cut – Darien, Connecticut.

Darien is impressive, with a median household income of $350k and an average home price of $1,642k.

Despite being one of the most expensive places to live in the U.S., this small coastal town is ideal for raising children. It boasts a reputation as one of the safest places in Connecticut.

Darien is a beloved location for families due to its safety, excellent public schools, and ample opportunities to enjoy nature. It is also conveniently located near New York City, making it an ideal choice for commuters working in the city. Moreover, the proximity to NYC offers residents top-notch dining, shopping, and entertainment options.

9. Winnetka, IL

Winnetka, IL, is one of the wealthiest cities in the U.S., situated near Chicago. It’s an ideal location for those who want to experience the advantages of a large city while maintaining a laid-back lifestyle. Living in this peaceful Chicago suburb overlooking Lake Michigan provides residents with the best of both worlds, with the town just a short distance away.

People consider Winnetka one of the wealthiest locations in the United States and an ideal place to call home. It was recently ranked as the second-best city to live in the country by 24/7 Wall Street in 2020.

Winnetka’s median household income is $350k, and the average cost of homes is $1,298k

10. Glencoe, IL

Our list of the wealthiest U.S. cities concludes with Glencoe, Illinois. Despite being the last on the list, Glencoe’s average household income of $329,885 is significantly higher than the national average, making it a noteworthy addition.

Glencoe is a charming city adored for its scenic waterfront views, tranquil parks, and serene lagoons. With its rich history, people know Glencoe for being a secure and safe city, reporting only 7.01 crimes per 1,000 residents. This makes it an ideal place for families to raise children.

The town is particularly popular with affluent families who value safety and security. Additionally, Glencoe boasts a convenient and efficient commute to Chicago, making it an ideal location for those working there.

The average cost of a home in Glencoe is $1,147k

Written By: Georges Benoliel

Georges has been working in Wall Street for the last 16 years trading derivatives with hedge funds. He has been an active real estate investor for over a decade. Georges graduated from HEC Business School in Paris and holds a master in Finance from ESADE Barcelona.

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