California, a state renowned for its entrepreneurial spirit and ambitious sense-of-industry, boasts a multitude of wealthy cities that serve as prime examples of economic success and innovation. From the heart of Silicon Valley to the iconic Californian coastal regions, these prosperous cities exemplify the Golden State's obsession with maintaining a GDP that small nations can only dream of. Through cutting-edge research, advanced technology, and robust education systems, these cities attract top talent which in turn foster a highly skilled workforce within strong communities. To ascertain wealth, median household income (2021), from the US Census Bureau, is the metric that ranks each city.
10 Richest Cities In California
- Palo Alto - $194,782
- San Ramon - $173,519
- Pleasanton - $167,932
- Sunnyvale - $161,670
- Mountain View - $158,104
- Fremont - $153,475
- Santa Clara - $150,244
- Milpitas - $149,312
- Newport Beach - $142,463
- Livermore - $139,904
Palo Alto - $194,782
Palo Alto, known for its thriving tech sector and entrepreneurial spirit, boasts a robust median household income of $194,782. The city's flourishing economy funds the livelihoods of 68,572 residents, many of whom are involved in cutting-edge research, higher education, and innovation. This wealthy enclave is home to a diverse mix of businesses, contributing to its economic vitality and making it an attractive destination for visitors. Fueling Palo Alto's prosperity is the presence of top-tier companies like Tesla, which has established its second headquarters in the city. The booming tech industry attracts highly skilled professionals, resulting in a well-educated and affluent population. This wealth generates demand for a wide range of amenities and retailers, further enhancing the city's allure.
San Ramon - $173,519
San Ramon has earned its reputation as a rich city through a combination of factors that contribute to its residents' high quality of life. As one of the largest cities in Contra Costa County, San Ramon boasts a median household income of $173,519 due to its diversified economy encompassing sectors such as healthcare, technology, financial services, and retail. The city is home to several large corporations, including Chevron, AT&T, and Robert Half International, as well as a proud small business community. Furthermore, the San Ramon Valley Unified School District consistently achieves high rankings, with graduation rates surpassing state and national averages, attracting families seeking educational opportunities.
Pleasanton - $167,932
Pleasanton has evolved from a humble farming community to a veritable economic hub. Today, the city boasts a median household income of $167,932 and a population of 79,871. The city's economy includes high-technology sectors, such as information technology, computer engineering, and life sciences, which attract a highly-educated workforce. These knowledge-based industries drive innovation and have attracted considerable venture capital investments, with Pleasanton regularly leading the East Bay. The presence of major employers like EMC, Oracle, and Safeway further supports the city's lively economy. Additionally, Pleasanton's strategic location allows excellent accessibility to a diverse, well-educated labor market and the broader Bay Area. Its high-value commercial spaces and competitive office rental rates make the city attractive for businesses of various sizes and industries.
Sunnyvale - $161,670
Founded as a bustling railroad town, Sunnyvale has grown into an affluent city, with its economy driven largely by the manufacturing sector and expanding business environment. Located at the heart of Silicon Valley, Sunnyvale provides access to an innovative and dynamic business ecosystem, attracting entrepreneurs from around the globe. The city's government actively supports businesses through generous incentives and tax breaks, particularly in the renewable energy sector, resulting in a skilled and diverse workforce. Furthermore, Sunnyvale's Economic Development staff offers various services, including development process assistance and partnerships with local, regional, and state agencies. This proactive approach fosters a culture of growth and innovation, ensuring that businesses can adapt and thrive amid market changes. Overall, the combination of a strong manufacturing sector, supportive government, and advantageous location in Silicon Valley contributes to Sunnyvale's status as a wealthy city.
Mountain View - $158,104
Mountain View, an auspicious city planted in the heart of Silicon Valley, has become an economic powerhouse due to its unique blend of tech giants, start-ups, and vibrant downtown area. With the presence of renowned technology firms such as Google, Apple, LinkedIn, and Microsoft, the city boasts a median household income of $158,104. The local economy has also benefited from the historical presence of aerospace and electronics industries, including Moffett Field Naval Air Station and NASA Ames Research Center. Mountain View's downtown area, encompassing ten blocks around Castro Street, features more than 70 restaurants and 20 retailers, attracting thousands of visitors and providing a stable employment base. The city's commitment to a competitive market has resulted in a high minimum wage, ensuring its ability to attract and retain a skilled workforce. This combination of technological innovation, a vibrant downtown area, and support for local businesses has solidified Mountain View as an expensive but financially potent city.
Fremont - $153,475
Fremont is a successful city that spawned through the 1956 merger of five adjacent towns, Mission San José, Centerville, Niles, Irvington, and Warm Springs, and that combined wealth increased through opportunity and ability. This financial prosperity grew thanks to Fremont's strategic location in Silicon Valley East, with over 900 advanced manufacturing and hardware companies calling Fremont home. This bustle has earned the city the nickname "hardware side of the Bay." Major tech employers like Meta, Tesla, Lam Research, Apple, Western Digital, Seagate, Boehringer Ingelheim, and ThermoFisher have established their presence in the city, drawn by the abundant skilled workforce and expansive industrial real estate inventory. Fremont's diverse economy is further strengthened by its multiple employment hubs, including Warm Springs, Bayside, Ardenwood, and City Center. These hubs cater to industries like technology, life sciences, healthcare, and hospitality. The city's investment in higher education and government incentives for research and development has further bolstered its economic growth, making Fremont a prosperous city.
Santa Clara - $150,244
Santa Clara is at the heart of Silicon Valley and, therefore, is an affluent city with a unique combination of technology giants and a clockwork service sector. With a median household income of $150,244, it is no surprise that this bustling region is home to industry-leading companies like Apple, Intel, and Google. The San Jose/Sunnyvale/Santa Clara metropolitan area was even ranked as the highest-performing area in the US in 2012, with a GDP of $384.7 billion in 2021, similar to that of Singapore. However, despite its prosperity, Santa Clara faces a growing wealth disparity. The top 1% of households hold 48 times more wealth than the bottom 50%, which is more noticeable than in the US overall or globally. Additionally, the city grapples with an underclass whose income is comparable to the national average, despite the area's exorbitant land prices. Thus, while Santa Clara may be economically prosperous, it is also a city marked by striking inequality.
Milpitas - $149,312
Milpitas is a thriving technology hub that attracts top talent from around the globe, thanks to the presence of numerous tech giants such as Cisco Systems, AT&T, and Infineon Technologies. Milpitas' strategic location between San Jose and Fremont also provides easy access to an extensive network of transportation options, including the VTA light rail, BART, and major freeways, making it an ideal destination for professionals working throughout the Bay Area. The city has a strong commitment to education, with the Milpitas Unified School District consistently achieving high academic performance. Additionally, high-earning families appreciate the wide range of recreational opportunities, including over 30 parks, sports complexes, and community centers. Milpitas' economy extends beyond technology, encompassing sectors such as retail and manufacturing. The Great Mall of the Bay Area, the largest enclosed outlet mall in Northern California, attracts shoppers from far and wide, generating additional revenue for the city.
Newport Beach - $142,463
Newport Beach, with a median household income of $142,463, is home to many affluent residents. The city's economy depends on its tourism industry and financial and real estate sectors. Newport Beach boasts a variety of world-class attractions, such as Fashion Island, a premier shopping center, and the Balboa Peninsula, which draws visitors from around the globe. The harbor, dotted with multi-million-dollar yachts, underscores the city's wealth and status. Last, the city's commitment to quality education complements its investment in community resources, such as the state-of-the-art Newport Beach Public Library and various community centers. For high-income earners, these are all compelling reasons to relocate and join the crowd at Newport Beach.
Livermore - $139,904
Livermore is a major center for scientific research and innovation, and the city is home to two prestigious research institutions: the Lawrence Livermore National Laboratory and the Sandia National Laboratories. These institutions play a significant role in driving the local economy by attracting top scientists and engineers worldwide. Livermore is also well-regarded for its commitment to education. Furthermore, the city's wine industry, with over 40 wineries, contributes to the region's economic growth and cultural identity. The mix of these factors has placed Livermore among California's wealthiest cities, with a median household income of $139,904.
Wealthiest US Cities In 2022, a small group of households in America holds 30% of the wealth.
These affluent Californian cities, from Livermore to Palo Alto, demonstrate a diverse range of economic drivers and high standards of living. With thriving industries such as technology, research, manufacturing, and retail, these cities have attracted highly skilled professionals, which in turn has led to high median household incomes. The presence of esteemed educational institutions and their commitment to quality education further add to their appeal. These cities also offer an array of amenities, recreational opportunities, and excellent transportation infrastructure. However, it is crucial to acknowledge the challenges of wealth disparity and affordable housing, which persist in some of these cities. It seems that even with all the money in the world, there are struggles in all corners.
10 Richest Cities In California
|Rank||City||Median Household Income (in 2021 US dollars)|
Source: US Census Bureau, 2017-2021.
Cory Price April 25 2023 in Economics
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In California, San Francisco is home to more billionaires than any other city. A total of 41 billionaires live in San Francisco with a combined net worth of $173.8 billion.What is the wealthiest city in California? ›
|Rank||City||Mean income - All households|
- The richest city in California is Los Altos Hills. ...
- Located in Silicon Valley, Los Altos Hills has 8,000 residents, many of whom work in tech. ...
- The second wealthiest city in California is Woodside. ...
- The third wealthiest city in California is Hillsborough.
- Hillsborough. Hillsborough is a wealthy city in California where many rich people live. ...
- Woodside. Woodside is another rich city in California with a population of 5,320 and an average family income of $250K. ...
- Los Altos Hills. ...
- Piedmont. ...
- Los Altos. ...
- Orinda. ...
- Saratoga. ...
- Palos Verdes Estates.
In California, San Francisco is home to more billionaires than any other city. A total of 41 billionaires live in San Francisco with a combined net worth of $173.8 billion.What part of LA is the richest? ›
1. Bel-Air. The richest neighborhood in Los Angeles is Bel-Air. Making its claim to fame on the popular series The Fresh Prince of Bel Air, this neighborhood is located directly across from Sunset Boulevard and is considered one of the most exclusive residential areas in Los Angeles.What is the richest zip code in California? ›
For the third year in a row, Atherton in the Bay Area tops the list for most expensive ZIP code to own a home, according to an analysis by online realtor RealtyHop. Homes in the wealthy ZIP code 94027 sold for a median price of $9 million in 2022, up more than 50% from the previous year, the report found.What are the top 3 richest cities? ›
- New York City, New York.
- Tokyo, Japan.
- The Bay Area, California.
- London, United Kingdom.
- Singapore, Singapore.
- Los Angeles, California.
- Hong Kong.
- Beijing, China.
- 15 Cheapest Places to Live in California. Eureka. ...
- Eureka. The cheapest place to live in California is Eureka. ...
- Stockton. Stockton is another one of the cheapest cities to live in California. ...
- Clovis. ...
- Sacramento. ...
- Vallejo. ...
- Redlands. ...
- New York City. The Big Apple is home to 340,000 millionaires, 724 centi-millionaires, and 58 billionaires. ...
- Tokyo. Tokyo has 290,300 resident millionaires, 250 centi-millionaires, and 14 billionaires. ...
- The Bay Area. ...
- London. ...
- Singapore. ...
- Los Angeles. ...
- Hong Kong. ...
This Is the Richest County in California.
|Largest Place in County||Phoenix|
|Median Household Income||$64,468|
|State Median Household Income||$58,945|
|State Poverty Rate||15.1%|
To be financially comfortable in Southern California, you'd need a net worth of $1.3 million. Here's what it takes to be considered wealthy in 2022 by city ans ranked by net worth thresholds: San Francisco: $5.1 million. Southern California (includes Los Angeles and San Diego): $3.9 million.What is the top 1% wealth in California? ›
The states with the highest income thresholds are:
- Connecticut: $955,300.
- Massachusetts: $896,900.
- New Jersey: $825,965.
- New York: $817,796.
- California: $805,519.
Robertson Boulevard is well-known for celebrity sightings and the paparazzi that stake out The Ivy during daytime hours. High-end stores like Kitson, Chanel and Intermix are all celeb faves.
New York City came out on top of the world's wealthiest cities list with 340,000 millionaires, ahead of Tokyo with 290,300, and San Francisco's Bay Area with 285,000. San Francisco had the most billionaires, with 63, compared with New York's 58.What is the most poor place in LA? ›
The area is officially known as Central City East. Skid Row contains one of the largest stable populations (about 9,200–15,000) of homeless people in the United States and has been known for its condensed homeless population since at least the 1930s.What part of LA is poverty? ›
As evidenced by the map, high levels of poverty are pervasive in South Los Angeles and are also found in portions of the San Fernando Valley, Hollywood, Boyle Heights, Northeast Los Angeles, and areas surrounding the Port of Los Angeles.Why people in LA are so rich? ›
The state's openness to immigration, combined with its sheer size and concentration of innovative companies, institutions and investors in tech hubs like Silicon Valley and Los Angeles, goes a long way in explaining why so many fortunes have been built there.What is the most expensive area in California? ›
Los Altos and Los Altos Hills tops the list for the richest and most expensive city in California. Los Altos is the affluent enclave of Silicon Valley's most affluent and influential leaders. It is one of the wealthiest cities in the US and among the richest areas in California.What is the poorest ZIP code in California? ›
- 93272. Tipton. Tulare. $9,476. ...
- 92278. Twentynine Palms. San Bernardino. $14,622. ...
- 92055. Camp Pendleton. San Diego. $15,386. ...
- 92145. Miramar Marine Corps Air Station. San Diego. $18,243. ...
- 93701. Fresno. Fresno. $19,704. ...
- 90011. Los Angeles. Los Angeles. $21,125. ...
- 92254. Mecca. Riverside. $21,283. ...
- 93219. Earlimart. Tulare. $21,290.
Unfortunately, Pennsylvania is home to the poorest city in the Unites States. The 16501 zip code in Erie, Pennsylvania is not only the poorest zip code in the state, but also the entire country.What is the wealthiest city in America? ›
The richest city in the US is Atherton, California. It has a median household income of $450,690, which is almost seven times higher than the average American household income of $69,021. With a relatively low population of 6,950 residents, Atherton is a town known for its exclusivity and wealth.Where do rich people go? ›
Top 10 countries wealthy people choose to live in. People with $1 million or more are more likely to move to Australia, the US, Switzerland, Canada and Singapore. In 2020, immigration declined because of the pandemic, with many cosmopolitans postponing their move due to documentation problems and closed borders.Where do rich people retire? ›
While New Hampshire does have a high cost of living, it also has excellent health care. All of these factors make it the best place to retire if you are wealthy. Other top states on the list include Idaho, Wisconsin, Wyoming, Alaska, South Dakota, Michigan, Utah, and Arkansas.What is a good pay to live in California? ›
A good monthly income in California is $3,886, based on what the Bureau of Economic Analysis estimates that Californians pay for their cost of living. A good monthly income for you will depend on what your expenses are and how much you typically spend per month.What city is cheaper in California? ›
Bakersfield is arguably the cheapest city to live in California, with many neighborhoods having available housing stock under $200,000.What major California city becomes the most unaffordable? ›
A new study by OJO Labs found that San Diego has surpassed San Francisco & Los Angeles as the least affordable city in the United States.Where do the ultra wealthy live? ›
New York is the world's most popular place for the super rich to own a property, according to a new report by data firm Altrata. A total of 21,714 ultra-high-net-worth (UHNW) individuals — those worth over $30 million — own either a primary or secondary residence in the city, the study found.What state is best for billionaires? ›
As of March 2022, California was the U.S. state with most billionaires, with 186 billionaires calling the state home. New York was second, with 135 resident billionaires which was a larger jump over third-placed Florida, with 78.Which is the richest state in USA? ›
New York is the richest state in the US, with a GDP per capita at $96,5k. This means that New York is responsible for around 9% of America's entire economic output, the highest percentage amongst the 50 states.
by state U.S. 2020. In 2020, California had the highest number of millionaire households in the U.S., with 1.14 million households having one million or more in investible assets. This is nearly double the 650,216 millionaire households in Texas, the state with the second-highest number.What is the #1 richest county in America? ›
Low-end middle class: $77,000. High-end middle class: $232,000. As of April 2022, 52% of adults consider themselves middle or upper-middle class.What is the upper class salary in California? ›
|Annual Salary||Monthly Pay|
According to the most recent data available for fiscal year 2019, an income of $540,009 per year puts you in the top 1% category. Based on that figure, an annual income of $500,000 or more would make you rich.How many people make over $100000 in California? ›
In California, 17.1% of households earn incomes of $100,000 to $149,999, with 15.3% earning $50,000 to $74,999 and 13.3% earning $200,000 or more.Why do millionaires live in California? ›
Yes, this is largely because of Silicon Valley. But it's also a reflection of the fact that California has the fifth-largest economy in the world, said Richard Walker, an emeritus professor at U.C. Berkeley who studies economic geography.How many billionaires live in California? ›
Billionaires are ranked by net worth as of Dec. 11, 2022. Forbes lists 178 billionaires in California. Copyright 2023 Nexstar Media Inc.What mall do celebrities go to in California? ›
Located adjacent to Beverly Hills, the Robertson Boulevard shopping district in West Hollywood is well-known for celebrity sightings and the paparazzi that stake out The Ivy during daytime hours. Stores like Alicia + Olivia, All Saints, Les Habitudes, Chanel, Intermix, and Vince are all ones to watch.
- The Ivy. Bar, Restaurant, American, $$$ View. ...
- Bar Marmont (at Chateau Marmont) Bar, Restaurant, American, $$$ View. ...
- Katsuya. Bar, Restaurant, Sushi, American, $$$ View. ...
- The Polo Lounge. Hotel Restaurant, American, $$$ View. ...
- Musso & Frank Grill. Restaurant, American, $$$ View.
Whatever the reason, one thing's clear: the world's wealthiest all want to live in Beverly Park, Los Angeles' richest and most exclusive neighborhood. What exactly is so special about Beverly Park?, you might ask.Who are the 3 richest families in America? ›
The top 10 richest families in 2022 by estimated wealth are: The Walton family with $224.5 billion. The Mars family with $160 billion. The Koch family with $128.8 billion.What are the 2 American cities with the most millionaires? ›
- New York City. Millionaires: 340,000. ...
- The Bay Area. Millionaires: 285,000. ...
- Los Angeles. Millionaires: 205,400. ...
- Chicago. Millionaires: 124,000. ...
- Houston. Millionaires: 98,500. ...
- Seattle. Millionaires: 50,500. ...
- Boston. ...
- 1.Panama – Quality of Life.
- 2.Thailand – Historic Retirement.
- 3.Spain – Affordable Quality.
- 4.Malta – Island Paradise.
- 5.Mexico – Budget Retirement.
- 6.Malaysia – Cosmopolitan Comfort.
- 7.Portugal – Romantic Retirement.
- 8.Nicaragua – Adventure Retirement.
Much of the state is warm, sunny, cosmopolitan, happening, diverse, and beautiful. It also has many climates and geographic areas. If you are swamped with cash and the above is important to you, you just might end up there. California is also an economic powerhouse that is REALLY GOOD at producing wealth. The tech.Who is the richest family in San Diego? ›
The wealthiest person in San Diego
At number 727 on the global billionaire list is Gwendolyn Sontheim Meyer. Her wealth increased from $3 billion in 2020 to $4 billion in 2021.
Boasting a population of over 175,000, Rancho Cucamonga is the 17th largest city in California. With a median household income of $83,000, Rancho Cucamonga is one of the wealthiest cities in the state.Which city is richer San Francisco or Los Angeles? ›
Despite being significantly smaller than Los Angeles, San Francisco houses more millionaires than its southern California counterpart.How is California the richest state? ›
Agriculture is one of the prominent elements of the state's economy: California leads the nation in the production of fruits, vegetables, wines and nuts. The state's most valuable crops are cannabis, nuts, grapes, cotton, flowers, and oranges. California produces the major share of U.S. domestic wine.
The San Francisco metro area has the U.S.'s highest cost of living, according to new data from federal government. The San Francisco metro area remained the most expensive region in the U.S. in 2021, mostly due to crushing housing and utilities costs.How many billionaires live in CA? ›
Forbes lists 159 billionaires in California.Which city in California has the best economy? ›
Let's start our analysis with the state's biggest economy, Los Angeles County. Its economic output in 2020 was valued at $659 billion even after shrinking 6.3% in a pandemic-chilled year.Which city has most millionaires? ›
New York City wears the crown as the world's top city with the most millionaires in 2023.What is a good salary California? ›
What is a good monthly income in California? A good monthly income in California is $3,886, based on what the Bureau of Economic Analysis estimates that Californians pay for their cost of living. A good monthly income for you will depend on what your expenses are and how much you typically spend per month.Is California richer than NY? ›
Overall, in the calendar year 2022, the United States' Nominal GDP at Current Prices totaled at $25.463 Trillion, as compared to $23.315 Trillion in 2021. The three U.S. states with the highest GDPs were California ($3.6 Trillion), Texas ($2.356 Trillion), and New York ($2.053 Trillion).Who is more rich California or Texas? ›
The economy of the State of Texas is the second largest by GDP in the United States after that of California. It has a gross state product of $2.355 trillion as of 2022. In 2022, Texas led the nation with the most companies in the Fortune 500 with 53 in total.Are people richer in California or New York? ›
The richest state in America is New York, with a GDP per capita of $96,502. The second richest state in America is Massachusetts, with a GDP of $95,029 per capita. The third and fourth richest states are Washington and California, with GDPs of $90,034 and $89,540 per capita respectively.