The Richest Town in Every State

Source: teasd.com

41. Tea, South Dakota
> Town median household income: $76,078
> State median household income: $50,957 (22nd lowest)
> Town poverty rate: 3.6%
> Town population: 4,427

Tea, named over a century ago after the popular drink, is an affluent suburb of Sioux Falls, the largest city in South Dakota. Many high paying jobs are only available to people with a college education, and in Tea, 37.3% of adults have at least a bachelor’s degree, about 10 percentage points higher than the comparable share statewide. Home values tend to be substantially higher in areas with higher median incomes, but the typical house in Tea is worth just $169,000, compared to the statewide median home value of $140,500, and less than the national value of $178,600.

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42. Lookout Mountain, Tennessee
> Town median household income: $121,319
> State median household income: $45,219 (8th lowest)
> Town poverty rate: 3.5%
> Town population: 1,871

Boasting scenic beauty and the largest publicly accessible underground waterfall, real estate in Lookout Mountain is not cheap. Lookout Mountain is the only town in Tennessee with a median home value above half a million dollars.

The wealthiest town in Tennessee, Lookout Mountain is also the best educated. Some 78.5% of area adults have at least a bachelor’s degree, more than triple the comparable 24.9% statewide share.

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43. Fulshear, Texas
> Town median household income: $175,990
> State median household income: $53,207 (23rd highest)
> Town poverty rate: 3.2%
> Town population: 3,228

Many of America’s wealthiest towns largely consist of college-educated adults, and Fulshear, the wealthiest town in Texas, is no exception. The town is one of only 13 statewide where over half of all adults have at least a bachelor’s degree.

Less than an hour drive from downtown Houston, Fulshear’s population has grown in tandem with the state’s largest city. Now home to over 3,000 residents, only about 600 people lived in Fulshear as recently as 1988.

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44. Highland, Utah
> Town median household income: $116,971
> State median household income: $60,727 (12th highest)
> Town poverty rate: 3.2%
> Town population: 17,030

About 12.3% of Utah residents live in poverty, a smaller share than in most states. In Highland, the wealthiest town in Utah, only about 3.2% of all residents live in poverty. The price of real estate in an area tends to reflect the ability of area residents to pay, and places with expensive real estate can drive out low income residents. The typical home in Highland is worth $424,400 — almost double the $215,900 median home value across the state as a whole.

Source: Thinkstock

45. South Burlington, Vermont
> Town median household income: $65,840
> State median household income: $55,176 (20th highest)
> Town poverty rate: 6.7%
> Town population: 18,536

Incomes do not vary dramatically across Vermont. For example, the typical household in South Burlington, the wealthiest town in the state, is $65,840 a year, or only about $10,700 more than the median income statewide.

A college education is often a prerequisite for a high paying career. In South Burlington, 53.9% of adults have at least a bachelor’s degree, well above the statewide college attainment rate of 36.0%.