These Three California Cities are Among the Richest in the US

Photo byJoseph BarrientosonUnsplash

California, often known for its sun-kissed beaches and Hollywood glamour, is also home to some of the wealthiest communities in the United States.

A recent study by 24/7 Wall Street has shed light on the affluence that characterizes several Californian cities, particularly those with populations over 25,000. Drawing from the U.S. Census Bureau's 2021 American Community Survey, this report offers a fascinating look into where the richest of the rich reside in America, with a special focus on the Golden State.

Understanding the Metrics

The methodology behind identifying these affluent cities is straightforward yet comprehensive. Researchers considered median household income and median home values as primary wealth indicators. They used a combination of incorporated legal entities and census-designated statistical entities to define the cities, focusing on those with a population of at least 25,000.

California's Wealthiest Cities

7. San Carlos, California

• • Median Household Income: $204,570
  • Median Home Value: $1,904,400
  • Educational Attainment: 67.7% of adults have a bachelor's degree or higher
  • SNAP Recipiency Rate: 0.8%
  • Population: 30,754

San Carlos showcases a blend of high income and educational attainment, with a notably low SNAP recipiency rate, reflecting its economic stability.

6. Saratoga, California

• • Median Household Income: $224,179
  • Median Home Value: Over $2,000,000
  • Educational Attainment: 80.6% of adults have a bachelor's degree or higher
  • SNAP Recipiency Rate: 1.6%
  • Population: 31,194

With its impressive median home values and high educational attainment, Saratoga stands as a testament to the prosperity prevalent in this region.

1. Los Altos, California

• • Median Household Income: Over $250,000
  • Median Home Value: Over $2,000,000
  • Educational Attainment: 85.9% of adults have a bachelor's degree or higher
  • SNAP Recipiency Rate: 0.5%
  • Population: 31,562

Topping the list, Los Altos is not just one of California's but America's wealthiest cities. The combination of high income, exorbitant home values, and a highly educated populace sets it apart.

Source:

https://247wallst.com/special-report/2023/08/08/americas-richest-cities-11/