The top 20 Richest Cities in California 2024: The state of California is one that can be found in the western part of the United States, and it is situated on the coast of the Pacific Ocean.
The Los Angeles Times estimates that California have 39.9 million people living there on January 1st, 2023. As a result, it is the state in the United States with the highest population density and the third-largest land area, including around 163,696 square miles.
Sacramento, an economic and cultural fulcrum that ranks sixth among California’s major cities, is the city that serves as the state’s capital.
The economy of California is solid and diversified, and it generates an annual income of $2.9 trillion. If California were a country, Forbes estimates that its GDP would be the fifth largest in the world if it were independent.
Let’s take a look at the cities in California that have the highest median income and see which ones top the list.
20 Richest Cities in California 2024
20. Hermosa Beach (Richest Cities in California) – $124,849
Hermosa Beach has a population of 19,500 people and the median age is 39 years old, according to the census completed in 2010. It is possible to locate the municipality on the coast of the Pacific Ocean, and it is surrounded on each side by two additional beach cities: Redondo Beach and Manhattan Beach.
The divisions of the economy responsible for Wholesale Trade, Educational Services, and Finance and Insurance are Hermosa Beach’s primary economic drivers. It has a population of 12,000 employed persons and a typical family income of $124,849, which is dispersed across the population.
19. Belmont (Richest Cities in California)– $125,958
19th place goes to the city of Belmont, which is in San Mateo County and is situated exactly in the middle of the distance between San Jose and San Francisco. It is home to historical sites such as Ralston Hall, which was built in 1867 by William Ralston, the man who founded Bank of California. According to the findings of research, males in Belmont earn 1.26 percent more than females do on average.
The city’s median household income increased by 4.8 percent over the last year, bringing it to its present level of $125,958. This expansion is being driven by the rising value of the homes that are being listed for sale. The value of the typical home has increased to an all-time high of $1.1 million, representing a 9.2 percent increase.
18. Los Gatos (Richest Cities in California)– $132,671
It has been determined that Los Gatos is the 33rd richest city in the country. In addition, the city is home to a number of technology-based businesses, including Worksafe Technologies, Booster Technology Inc., and Solution Partners Inc. The city of Los Gatos may be found to the southwest of San Jose and is considered to be a part of the greater Silicon Valley.
A poverty rate of 4.6 percent and a typical family income of $132,671 are both characteristics of this area. The tertiary sector is the most important to the economy of Los Gato, which is reflected in the fact that the best paid positions can be found in the social care and health sector, as well as in the utility and information sectors.
17. Foster City (Richest Cities in California)– $136,383
Foster City is 59 percent safer than other cities in the United States, as reported by Neighbourhood Scout. This makes it one of the safest areas in the bay region, which also has some of the best recreational resorts in the country. The envisioned community, which is located in San Mateo County and has a population of 33,000 people, with a median age of 40.4 years.
The typical annual income of a household in the city is $136,383, and the city has experienced a meteoric increase of 10.6 percent in the past year. It is considered to be the seventeenth most dynamic city in the state of California.
16. Dublin (Richest Cities in California)– $138,007
Because of the large number of Irish people that settled in the area, the city is sometimes referred to as Dublin; nevertheless, you should be aware that Dublin is the capital city of Ireland.
Money Magazine ranked Dublin as the seventh greatest location to live in the world in 2018, placing it in the top 10 overall. It is situated around 31 miles away from San Jose and 25 miles away from Oakland. Dublin’s economy, like that of other communities in California, is built on employment that provide some form of customer service, such as those in social assistance and healthcare, technical services, and retail trade.
The typical income for a household in the area is $138,007, which is an increase of 7 percent in only one year. In the next ten years, economic analysts anticipate that Dublin’s employment rate will be 10 percent higher than the national employment rate.
15. Pleasanton (Richest Cities in California)– $138,269
Pleasanton is a city in the San Francisco Bay Area that was incorporated in 1984 and is situated in the suburbs to the west of Livermore and to the east of Oakland. The summer city located in Alameda County is home to a plethora of community leisure centers as well as preserved natural terrain that has been specifically intended for hikers.
Every year, the city hosts more than 45 different entertainment events that are appropriate for both adults and children. A sizeable portion of the city’s population has jobs in the professional as well as industrial sectors of the economy. Other parts of the economy include the healthcare industry and the provision of utility services.
14. Mill Valley (Richest Cities in California)– $141,698
With a homeownership rate of 72.35 percent, Mill Valley makes its first appearance on this list at position number 14. The city may be found at the foot of Mount Tamalpais and has Richardson Bay on the northwestern side of its territory. Mill Valley is located approximately 18 kilometers (11 miles) from San Francisco, and as a result, it offers a breathtaking panorama of the Bay Area, including San Francisco and Marin County.
The Golden Gate Recreational Center and the Muir Woods National Monument, which are both located in Mill Valley, bring a significant number of tourists to the city each year. This article will explain why the value of property in Mill Valley has increased by 3.3 percent, reaching a current value of $1.24 million, and why real estate is the primary driver of the local economy.
Despite this, the city’s employment rate has been falling at a pace of one percent each year over the course of the past two years. It has a household income of $141,698 annually, which is a decrease of 5% from the previous year.
13. San Ramon (Richest Cities in California)– $142,718
The name of the city in Spanish literally translates to “Saint Ramon.” The Diablo Foothills are close to the metropolitan area’s east side, while the Oakland Hills are adjacent to the metropolitan area’s west side. The city of San Ramon is consistently ranked as one of the 10 safest in all of California.
The city is home to around 75,000 inhabitants and has a workforce of 36,000 workers. It has a robust economy that encompasses a wide range of sectors, including gas extraction and manufacturing, businesses and enterprise, and retail trade.
12. City of Clayton (Richest Cities in California) -$146,225
It is found in Contra Costa County and, according to the most recent census estimates, it has a total population of 11,838 people. It is a renowned city that is home to a wide range of cultural activities, exceptional works of art, and a well-protected financial and economic center.
The number of people living in poverty is at an all-time low of 2.2 percent, while the average family income has increased by 6.78 percent to reach $146,225 in only the past year. The resident’s primary sources of income are from the health care, manufacturing, and financial and insurance industries.
11. Palo Alto (Richest Cities in California)– $147,537
The name comes from Spanish and literally translates as “tall stick,” which refers to the coastal redwood trees that are known as El Palo Alto.
Palo Alto is home to the headquarters of a number of different firms, and it is situated between the cities of San Francisco to the north and San Jose to the south. Palo Alto is the headquarters location for some of the world’s most successful technology businesses, including Hewlett-Packard (HP), Tesla, and VMware.
In addition to this, it is the location of Stanford University, which firmly establishes it as an educational and technological hub.
According to the findings of a poll that was carried out by the “Palo Alto weekly,” there are so many billionaires living in the city that even persons earning $400,000 consider themselves to be middle class.
10. Manhattan Beach (Richest Cities in California)– $148,899
Manhattan Beach is located in the southwestern portion of Los Angeles County, California, along the Pacific coast, south of El Segundo and Hermosa Beach.
It is one of the three beaches that make up the city of Hermosa Beach. A stroll down the beach is a great way to relax, and it also provides a breathtaking view of Los Angeles’s quaint coastal homes. The yearly median household income for this area is $148,899, which places it in this ranking.
Due to the large number of tourists that visit the city each year, the real estate industry, along with renting and leasing, is one of the top paying areas of the city’s economy. Other lucrative sectors include the technology, insurance, and financial sectors.
9. Lafayette (Richest Cities in California)– $152,609
The town of Lafayette was given its name after the Marquis de Lafayette, a French general who played a heroic role in the American Revolutionary War.
Today, the town is well-known for its affluent population, excellent public schools, and numerous tourist destinations. The Briones Regional Park, the Lafayette Reservoir, and the Lafayette-Moraga Regional Trail are all located on this land.
The current listing price of homes in the city is $1.21 million, which represents a 7.7 percent increase over the previous year. The median income of a household there is $152,609, which is up 6.6 percent from the previous year.
8. San Carlos (Richest Cities in California) – $152,521
On the San Francisco Peninsula, in the county of San Mateo, can be found the city of San Carlos. It is estimated that there are 29,954 people living in the town, which is spread out across an area of 5.4 square miles and is primarily made up of a collection of small stores and eateries.
The median income for a family in San Carlos is $71,648, while the average income for a household is $152,521. Manufacturing, care and social support, insurance, and banking are among the primary economic forces at work in this region.
7. San Marino (Richest Cities in California)– $152,527
The early Republic of San Marino, which was established by Saint Marinas in Italy, is where the name of the city comes from. This affluent neighborhood lies to the southeast of Pasadena and is home to a number of cultural centers and historic gardens.
Its dynamic Recreation and Entertainment business has been a big contributor to the expansion of the city’s median household income, which has increased to $152,527 as a result of an astounding 9.11 percent growth in only the last year.
Retail commerce, renting, leasing, and real estate, as well as professional scientific and technological services, are some of the other sectors of the economy that are contributing to its growth.
6. Danville (Richest Cities in California)– $152,798
The majority of people consider Danville to be a town even if it is also a city. It’s possible that this is due to the fact that although Danville has been been for 130 years, it didn’t become an established city until 1982. People were accustomed to referring to it as the town.
The city may be found in Contra Costa County, right in the middle of the San Ramon Valley. Danville has a poverty rate of 3.2 percent and there are around 20,000 individuals working in the city.
Its dynamic economic sectors, including as health care, manufacturing, and retail commerce, contribute to the city’s ability to maintain a family income median of $152,798 per year.
5. Saratoga (Richest Cities in California)– $173,136
The city is well-known for its unique retail establishments, world-class restaurants, and a wide variety of cultural organizations due to its location at the foot of the Santa Cruz Mountains in California. There are around 31,013 people living in the city of Saratoga, California, with the median age being 49 years old.
More than 10,000 people are employed in the economy of Saratoga, with the primary contributors being the retail trade, the provision of technical services, the provision of social assistance, and manufacturing. The income of the typical American family has increased by 2.1 percent in the past year and is now at $173,136.
4. Palos Verdes Peninsula (Richest Cities in California)– $180,815
Palos Verdes Peninsula is comprised of the communities of Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills Estate, and Rolling Hills, and is found in the coastal region of Los Angeles County. The Palos Verdes Peninsula is next to the Pacific Ocean.
More than 18,000 individuals have jobs in the city that is famous for its high-value residences, and 42,463 people call the city their home. The Palos Verdes Peninsula has an average home value of $1.05 million, which is increasing at an annual pace of 4.2 percent.
3. Orinda (Richest Cities in California)– $186,085
Orinda, California has a total population of 18,936 people, according to the census completed in the United States in 2010. Forbes recognized this city as the second nicest town in the country in 2012, and it is located 8.62 kilometers (5.09 miles) to the east of Berkeley.
Car ownership in Orinda is rather common, with a median of two vehicles per family. Orinda is the third most prosperous city in California due to the high average household income of $186,085, making it the third most prosperous city in the state.
2. Piedmont (Richest Cities in California)– $202,631
Piedmont is a small residential suburb with high property prices, outstanding public schools, and a low overall crime rate. It gets its name from the Piedmont area in Italy, which literally translates to “foothill.” The city of Oakland completely surrounds the large town, which is known for being one of the most attractive areas to live in all of the San Francisco Bay Area.
Manufacturing, health care and social assistance, education services, finance and insurance, public administration, and public administration all rank among the best paid businesses in the city.
Piedmont has a household income of $202,631 on average, and it is projected that job growth will approach 36.8 percent in the next ten years, which will be much higher than the growth rate of 33.5 percent in the United States.
1. Los Altos (Richest Cities in California)– $208, 309
Santa Clara County is home to the city of Los Altos, which is situated in the northern part of Silicon Valley and is part of the greater San Francisco Bay Area. The city’s population is estimated to be 30,527 people.
The city’s economy is driven by the manufacturing, information technology, and management of businesses and firms industries, which contribute to the city’s low unemployment rate of 2.4 percent, which is lower than the national unemployment rate of 3.9 percent.
Because each household in Los Altos has an annual average median income of $208,309, the city is widely recognized as the most rich in both the state of California and the whole United States.
According to the real estate website Zillow, the average price listed for a property in Los Altos is currently $3.06 million.
FAQs
Which city in California is the wealthiest?
1. Atherton. Located 45 minutes south of San Francisco and 20 minutes away from Silicon Valley, Atherton is an incorporated town in San Mateo County. Not only is Atherton is the most expensive town in California, but it also holds the title of most expensive in the United States.
Where do the super rich live in California?
Almost half of the state’s billionaires come from tech. Much of that wealth is concentrated in the San Francisco Bay Area, where 116 of the state’s billionaires reside. That includes the state’s richest residents: Google cofounders Larry Page and Sergey Brin.
Which county in California is the richest?
Large metropolitan areas are often hubs of economic activity. With a median household income of $124,055, Santa Clara County is the wealthiest county in California and one of the wealthiest in the United States.
What city in California has the most expensive homes?
Who is the richest family in California?
- #7. Robert Pera.
- #6. Laurene Powell Jobs & family.
- #5. Eric Schmidt.
- #4. Jensen Huang.
- #3. Mark Zuckerberg.
- #2. Sergey Brin. – Net worth: $115.4 billion (#8 wealthiest in the world)
- #1. Larry Page. – Net worth: $120.2 billion (#6 wealthiest in the world)
- You may also like: Where people in California are moving to most.
Who is the richest person in LA?
- Bobby Murphy — $7.9 billion.
- Stewart & Lynda Resnick — $7.2 billion.
- Evan Spiegel — $6.7 billion.
- Steven Spielberg — $6.6 billion.
- Tom Gores — $6.5 billion.
- Travis Kalanick — $6.3 billion.
- Don Hankey — $6 billion.
- Rick Caruso — $5.9 billion.
Is California rich or poor?
And yet, the latest census bureau report says that California is both the wealthiest state and has the highest poverty rate in the country at 24 percent — meaning almost a quarter of Californians live in poverty.
Which city has the most millionaires?
Now there’s a new number one. New York City has taken back its crown. With 107 billionaire residents, worth over $640 billion, The Big Apple is home to more three-comma club members than any other city on the planet.
Which state is richest in USA?
The Golden State boasts the largest economy in the U.S., with a gross state product of nearly $3 trillion. And with roughly 40 million residents, it’s also the most populous state in the country. The largest economic sectors in California are agriculture, technology, media, trade and tourism.
What is the richest city in the US 2024?
Where do most billionaires live?
What city makes most money?
- Hong Kong.
- Los Angeles.
- London.
- Paris.
- Chicago.
- San Francisco.
- Washington, D.C. Number of individuals with a net worth of $5 million or more: 37,495.
- Dallas. Number of individuals with a net worth of $5 million or more: 36,515.
Where do most rich people live?
- San Jose-Sunnyvale-Santa Clara, California.
- Bridgeport-Stamford-Norwalk, Connecticut.
- San Francisco-Oakland-Hayward, California.
- Washington, D.C. Area.
What is the poorest part of California?
Seven of the ten counties in California with the lowest per capita incomes are located in the Central Valley. Two of the remaining three are rural counties in Northern California. This leaves Imperial County, which shares California’s portion of the U.S.-Mexico border with San Diego County.
How are Californians so rich?
Forty-four percent of California’s billionaires made their fortunes in tech, followed by 23 percent in finance and 7 percent in real estate, according to Forbes. The three richest Californians are tech titans: The Facebook creator Mark Zuckerberg and the Google co-founders Larry Page and Sergey Brin.
What’s the poorest county in California?
Poverty rates and the effect of safety net programs vary regionally. Los Angeles (23.0%), Santa Barbara (22.0%), and Santa Cruz (21.7%) Counties had the highest poverty rates in California (2015–2017 average). El Dorado County had the lowest rate, at 10.7%.
What is the best area to live in California?
- Berkeley (ranked no. 8 in the U.S.)
- Irvine (ranked no. 10 in the U.S.)
- San Francisco (ranked no. 14 in the U.S)
- Sunnyvale (ranked no. 16 in the U.S.)
- Torrance
- Santa Clara
- Carlsbad
- Pasadena
What is the cheapest city in California? ›
- Eureka.
- Oxnard.
- Redlands.
- Chico.
- Temecula.
- Clovis.
- Vacaville.
What is the most expensive city to rent in California?
San Jose, California, remains the most expensive place to rent, with a median rent of $3,024 a month, followed by San Diego, Los Angeles, San Francisco, Miami and New York City.
Who is the richest celebrity in California?
California: George Lucas
George Lucas — the man behind the insanely popular “Star Wars” and “Indiana Jones” film franchises — grew up on a walnut ranch in Modesto, California. Films produced by the Lucasfilm production company have grossed $6.3 billion, according to Box Office Mojo.
Who is the richest person in Beverly Hills?
The new No. 1 atop the Wealthiest Angelenos list is a familiar face. Patrick Soon-Shiong, who held the top spot in 2018 and ranked No. 2 behind Musk in 2019 and 2020, is again the leader of the pack.
Is everyone in Beverly Hills rich?
The average household income in Beverly Hills is $193,000, but when you look at the high and low ends of the spectrum, you’ll find that the richest fifth of Beverly Hills households earn an average of nearly $661,000, while the poorest earn less than $14,500 (that’s a factor of 45).
Who is the youngest billionaire?
Austin Russell, who became the world’s youngest self-made billionaire when his automotive sensor firm Luminar Technologies went public in December 2020, has also seen his fortune slide.
Who is the richest man in Orange County?
At the top, Orange County, California-based Donald Bren remains the wealthiest real estate billionaire in the country with an estimated $16.2 billion net worth, nearly $1 billion higher than last year.
Is California richer than Russia?
Even three U.S. states have larger GDPs than Russia: California ($3.1 trillion), Texas ($1.78 trillion) and New York ($1.7 trillion). Note that California has more than twice the GDP of Russia. There’s more.
What is the top 10 income in California?
- Median income: $80,440.
- Top 10% income: $295,369.
How many millionaires live in California?
In 2023, 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.
Where do America’s rich live?
1. Atherton, California. Unless you live in or near Silicon Valley, you may not know of the sleepy town of Atherton, California. Nearly equidistant from San Francisco and San Jose, this village of less than 7,500 residents is home to the wealthiest households in America.
Where are the rich moving to?
- Phoenix, Arizona.
- Denver, Colorado.
- Dallas, Texas.
- Salt Lake City, Utah.
- Sacramento, California.
20 Richest Cities in California 2024 – Newshub360.net
Credit : www.Newshub360.net
