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Have you wondered where the wealthiest cities in the country are? New York City and San Francisco might come to mind, but big businesses and high rents don’t necessarily translate to wealth for a city’s residents.
In fact, what separates some of the wealthiest cities from the poorest cities in the country might surprise you.
In this study, GOBankingRates defined the “wealthiest” cities as those with high median home values and median incomes. To find the wealthiest city in each state, we used data from Zillow to locate the cities with the highest home values. Then, we examined the household median income by city using data from Sperling’s Best Places. Whichever city had the highest household income was deemed the wealthiest city in that state.
South Dakota and Maine were excluded from this list due to a lack of sufficient data. However, the other 48 states are included — keep reading to find out which city is the wealthiest in your state.
ALABAMA: Mountain Brook
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Median income: $ 130,259
Median home value: $ 598,700
With a total area of just 12.8 square miles, Mountain Brook manages to pack a lot of punch into such a small space. More than 60 percent of the city’s residents make over $ 100,000 a year, and nearly 29 percent make over $ 200,000 a year. The Mountain Brook school system is also regularly nationally recognized for its academic achievement. Fun fact: Television star and actress Courteney Cox was born here.
ALASKA: Juneau
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Median income: $ 84,750
Median home value: $ 320,400
Residents of Alaska’s capital city boast about the local scenery, abundant wildlife and endless outdoor activities, but there’s a price to pay for the breathtaking beauty — it’s estimated that the cost of living in Juneau is 30 percent more expensive than the average U.S. city. High energy and housing costs are the biggest contributors, but the cost to live there is still lower than many other cities on this list.
ARIZONA: Paradise Valley
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Median income: $ 134,097
Median home value: $ 1,594,100
Paradise Valley is a small, affluent community right in the heart of the Scottsdale/Phoenix area. The city is well-known for its expensive real estate, luxury golf courses and high-end resorts and shopping centers. It’s also a prime spot for celebrity homes — Paradise Valley residents include a variety of names like Alice Cooper, Dan Quayle and Vince Vaughn.
See the rest of the story at Business Insider
