Business

Top 20 small towns where millionaires live

Though many wealthy Americans prefer to live in cities, most millionaires invest their money to buy the peace and quiet of these small towns.

Published

8 years ago

May 20, 2018

Harry Dent

I came across some interesting data recently.

If you’re thinking of retiring or moving to a smaller area that still has some affluence, maybe a few good restaurants, here are 20 small towns that have a high percentage of millionaires.

Millionaires are only 4 percent of households in the U.S. with an overall median income of $59,039.

Out of these 20 small towns, 18 of them are above the country’s median income. That’s impressive, considering smaller towns typically have lower living costs and the lowest percentage of millionaires. These towns have 7 percent or higher.

Some of these, like Concord, New Hampshire, are close to major cities (Boston).

But look at Los Alamos, New Mexico! About 11.6 percent of that town’s population have millionaire status and the town’s median income sits at a whopping $101,934.

Now we know where millionaires go to live!

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DISCLAIMER: This article expresses my own ideas and opinions. Any information I have shared are from sources that I believe to be reliable and accurate. I did not receive any financial compensation for writing this post, nor do I own any shares in any company I’ve mentioned. I encourage any reader to do their own diligent research first before making any investment decisions.

Harry Dent

Harry S. Dent Jr. studied economics in college in the 1970s, receiving his MBA from Harvard Business School, where he was a Baker Scholar and was elected to the Century Club for leadership excellence. Harry grew to find the study of economics vague and inconclusive and became so disillusioned by the state of his chosen profession that he turned his back on it. Instead, he threw himself into the burgeoning new science of finance which married economic research and market research. Identifying and studying demographic trends, business cycles, consumers’ purchasing power and many other trends empowered Harry to forecast economic and market changes. Over the last three decades, he’s spoken to executives, financial advisors and investors around the world. He’s appeared on “Good Morning America,” PBS, CNBC and CNN/FN. He’s been featured in Barron’s, Investor’s Business Daily, Entrepreneur, Fortune, Success, U.S. News and World Report, Business Week, The Wall Street Journal, American Demographics and Omni. He is a regular guest on Fox Business’s “America’s Nightly Scorecard.” Harry has also written numerous best-selling books over the years, such as The Great Boom Ahead, The Roaring 2000s, the Roaring 2000s Investors and The Demographic Cliff. In his most recent book The Sale of a Lifetime: How the Great Bubble Burst of 2017 Can Make You Rich (2016), Harry looks at the upcoming economic crisis and reveals how it could be the single greatest chance to build wealth we’ll ever see and how we can capitalize on such a unique and historical opportunity. He explains how many of the richest Americans in history have used this same kind of opportunity to quickly accumulate incredible amounts of money, in a short period of time.