25 Richest Cities in America
20. Minneapolis-St. Paul-Bloomington, MN-WI
> Median household income: $73,231
> Households earning $200,000 or more: 8.2%
> Adults with at least a bachelor’s degree: 40.5%
> March unemployment rate: 3.3%
Minneapolis-St. Paul-Bloomington is the only metro area in Midwest to rank among the wealthiest in the country. The typical Twin Cities household earns $73,231 a year, well above the median income across Minnesota of $65,599 and the median across the United States of $57,617.
Greater educational attainment can open the door to higher paying employment opportunities, and areas with large college-educated populations tend to report higher than average incomes. In the Minneapolis metro area, 40.5% of adults have a bachelor’s degree or higher, well above the 31.3% of American adults and the 34.8% of adults across the state with comparable education.
19. Vallejo-Fairfield, CA
> Median household income: $73,900
> Households earning $200,000 or more: 7.6%
> Adults with at least a bachelor’s degree: 25.4%
> March unemployment rate: 4.1%
Half of all households in Vallejo-Fairfield earn at least $73,900 a year. The metro area is one of seven in California to rank among the 25 wealthiest in the country. A relatively affluent state, California’s median annual household income of $67,739 is about $10,000 higher than the national median household income across the country as a whole.
In Vallejo-Fairfield — and the rest of California — high incomes are partially offset by a high cost of living. Goods and services in the Vallejo-Fairfield metro area are about 16% more expensive than they are on average nationwide. The cost of living across California as a whole is about 13% higher than average.
18. Santa Rosa, CA
> Median household income: $73,929
> Households earning $200,000 or more: 8.6%
> Adults with at least a bachelor’s degree: 33.9%
> March unemployment rate: 2.8%
The Santa Rosa metro area in northern California is one of the most expensive places to live in the country. Goods and services in the metro area are about 19% more expensive than they are nationwide on average. Additionally, the majority of homes in the area are worth over half a million dollars.
Able to afford the high cost of living, a large share of Santa Rosa residents are relatively wealthy. The typical household in the metro area earns $73,929 a year, well above the national median household income of $57,617.
17. Boulder, CO
> Median household income: $74,615
> Households earning $200,000 or more: 12.2%
> Adults with at least a bachelor’s degree: 60.6%
> March unemployment rate: 2.5%
Higher education can open doors to higher paying jobs, and areas with more college-educated adults often have higher income levels. In Boulder, 60.6% of the adult population has a bachelor’s degree or higher, the largest share of any U.S. metro area. The area also ranks among the wealthiest in the nation. The typical Boulder household earns $74,615 a year compared to the $65,685 statewide median and the $57,617 median income nationwide.
High incomes are also reflected in the metro area’s property values. The typical home in Boulder is worth $467,600, more than double the median home value nationwide of $205,000.
16. Napa, CA
> Median household income: $75,077
> Households earning $200,000 or more: 11.9%
> Adults with at least a bachelor’s degree: 35.1%
> March unemployment rate: 3.2%
With more than half of all households in the metro area earning at least $75,000 a year, Napa, California, is one of the wealthiest metro areas in the United States. Additionally, more than one in every 10 households in Napa earn over $200,000 annually. In comparison, just 6.4% of all American households earn $200,000 or more per year.
Napa’s wealth is underscored by the relative scarcity of serious financial hardship. Just 7.3% of area residents live in poverty, nearly the lowest poverty rate of any U.S. metro area and about half the U.S. poverty rate of 14.0% and the California rate of 14.3%.