Special Report

Richest City in Every State

Alabama: Hoover
> Median household income: $98,689 (state: $51,734)
> Households earning more than $200,000: 17.0% (state: 4.3%)
> Median home value: $322,000 (state: $154,000)
> Adults with a bachelor’s degree: 56.9% (state: 26.3%)
> 2019 unemployment rate: 3.7% (state: 4.9%)
> Population: 85,772

Hoover, a city of about 86,000 residents located just south of Birmingham, ranks as the wealthiest city in Alabama. Incomes in the city climbed substantially last year. As recently as 2018, the median household income in Hoover was $88,899, about $10,000 lower than in 2019.

As is often the case in the cities on this list, not only is Hoover in close proximity to a much larger city and the wide range of jobs available there, but it is also home to a well-educated population. In Hoover, 56.9% of adults have a bachelor’s degree or higher, compared with just 26.3% of adults across Alabama as a whole.

Source: Chilkoot / Getty Images

Alaska: Anchorage
> Median household income: $82,716 (state: $75,463)
> Households earning more than $200,000: 10.2% (state: 9.3%)
> Median home value: $314,600 (state: $281,200)
> Adults with a bachelor’s degree: 36.3% (state: 30.2%)
> 2019 unemployment rate: 5.4% (state: 5.8%)
> Population: 288,000

Anchorage is the only city in Alaska for which the Census’s American Community Survey has 2019 data, and it ranks as the richest city in the state by default only. Still, the typical household in the city earns an income of $82,716 a year — over $7,000 more than the typical Alaska household.

As is often the case in the cities on this list, Anchorage is home to a relatively well-educated population. Over one-third of all adults in the city have a bachelor’s degree or higher, compared to 30.2% of all adults in Alaska.

Source: DenisTangneyJr / iStock Unreleased via Getty Images

Arizona: Gilbert
> Median household income: $102,793 (state: $62,055)
> Households earning more than $200,000: 12.6% (state: 6.6%)
> Median home value: $372,500 (state: $255,900)
> Adults with a bachelor’s degree: 46.8% (state: 30.2%)
> 2019 unemployment rate: 3.4% (state: 5.1%)
> Population: 254,115

Gilbert is the only city or town in Arizona where most households earn six-figure incomes. The typical Gilbert household earns an income of $102,793 a year, nearly $41,000 more than the median household income across Arizona as a whole. Additionally, 12.6% of households in Gilbert earn $200,000 or more per year, well above the 6.6% share of households across all of Arizona.

Like many other places on this list, Gilbert is within commuting distance to a much larger urban area. Phoenix, Arizona’s capital and largest city, is less than 30 miles west of Gilbert.

Source: Michael Warren / iStock via Getty Images

Arkansas: Rogers
> Median household income: $65,823 (state: $48,952)
> Households earning more than $200,000: 9.5% (state: 3.8%)
> Median home value: $214,100 (state: $136,200)
> Adults with a bachelor’s degree: 34.1% (state: 23.3%)
> 2019 unemployment rate: N/A (state: 4.8%)
> Population: 68,674

With a median household income of just $48,952, Arkansas is one of the poorest states in the country. Even in Rogers, the city with the highest income in the state, the typical household earns $65,823 — in line with the median household income across the U.S as a whole of $65,712.

Still, serious financial hardship is not as common in the state’s wealthiest city as it is across the U.S. The poverty rate in Rogers stands at 9.9%, considerably lower than the 12.3% national poverty rate. For context, 16.2% of all Arkansas residents live below the poverty line.

Source: Tomsmith585 / iStock via Getty Images

California: San Ramon
> Median household income: $189,185 (state: $80,440)
> Households earning more than $200,000: 47.6% (state: 13.7%)
> Median home value: $1,089,700 (state: $568,500)
> Adults with a bachelor’s degree: 71.7% (state: 35.0%)
> 2019 unemployment rate: 3.5% (state: 5.1%)
> Population: 75,984

San Ramon, a suburb of San Francisco, is not only the wealthiest city in California, but also the United States. The typical area household earns an income of $189,185 annually, compared to the median household income across the state of $80,440 and the national median of $65,712.

The area’s high incomes are partly the result of the types of employers operating in close proximity to the city. Both San Francisco and nearby Silicon Valley are tech and finance hubs — two industries that are traditionally high paying.

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.