5 Smallest Cities in United States With Most Millionaires
You might think of Park Avenue in Manhattan, Pacific Heights in San Francisco, or Rodeo Drive in Los Angeles when you think of wealthy areas. But did you know that a third of the places with the most millionaires per person aren’t much more than small villages with only 20,000 people?
What are these small towns good at that makes rich people want to move there in droves? For some, it’s the beautiful scenery and fun things to do. For others, it’s the natural resources or well-paying jobs that make them rich. We can’t promise that moving to one of these places will make you rich, but who knows? You might get some gold dust on you.
The Smallest City of US With Most Millionaires
Los Alamos, New Mexico
It’s not just a small town that has the most millionaires; Los Alamos has more millionaires per person than any city or town in the country, and it has been that way for more than a decade.
It’s funny that Los Alamos doesn’t look like a wealthy place. It doesn’t have the Fendi shops or Michelin-starred restaurants that you might connect with the lives of the rich and famous. It also doesn’t have the beach or ski resorts that millionaires usually go to. There is only one reason for the high number of millionaires: the Los Alamos National Laboratory, where engineers and other highly trained workers make more than $100,000 a year on average.
Summit Park, Utah
In 2014, this ski resort had the second most millionaires per person, and it hasn’t lost that spot since. Most likely, you have heard of Park City, which is close by and home to Robert Redford’s famous Sundance Film Festival. But maybe not Summit Park. That’s one reason why there are so many millionaires in Summit Park: they moved there from the fancy Park City.
The Gold Rush, to be sure, brought wealth to Juneau in the first place. I doubt that today’s millionaires in Juneau got their money from gold. Instead, it may have come from other valuable things that were found underground. There are way too many millionaires in Alaska—Phoenix Marketing International ranks it fifth out of all 50 states for millionaires per person. This is most likely because the state has a lot of natural resources, like oil.
Williston, North Dakota
A lot of farmers in this small town get tens of thousands of dollars every month in oil profits. They are the kind of millionaires who don’t stand out and would look more at home at Farm & Fleet than at Emporio Armani.
You may have heard a lot about Jackson Hole, but it’s not a town. It’s the valley where Jackson is located. As you might have guessed, this is another ski area for rich people. It includes parts of both Wyoming and Idaho. Additionally, the Economic Policy Institute says that the top 1% make an average of $20 million a year, while the bottom 99 percent make just below $94,000. This makes the urban area the most unequal in terms of income in the United States.