AI stocks have been bloodied up in recent months, but the technology's relentlessly growing importance should see the sun shine on them again. More than a quarter-million of Ohio's 4.7 million households have investable assets of at least $1 million. The 11 Best Closed-End Funds (CEFs) for 2020. Stephen Bisciotti, owner of the NFL's Baltimore Ravens, is the state's richest citizen with a net worth of $4.4 billion. The state's tobacco and alcohol taxes take a noticeable bite as well. Unfortunately for millionaires and non-millionaires alike, Michigan is not tax-friendly. Given the state's reputation for hoops NBA legend Larry Bird was known as the Hick from French Lick (Indiana) it should come as no surprise that athletes and sports competitors are among the best-paid professions there. John Menard, Jr., founder of the Menards home improvement chain, is the state's richest resident with a net worth of $18.8 billion. An example of data being processed may be a unique identifier stored in a cookie. Taxes more than make up for higher prices, however. Median home values also are below the national level. South Dakota is one of the most tax-friendly states on the whole. Might we suggest a job in healthcare in our number one richest city? There's a lot to like about Oklahoma for wealthy retirees. Rollins' brother, Gary Rollins, has a net worth of $3.7 billion. Gail Miller, with $1.7 billion stemming originally from car dealerships, is the state's wealthiest person. Harry Stine, the wealthiest person in Iowa with a net worth of $4.4 billion, made his fortune by licensing corn and soybean seeds to multinationals agribusiness companies such as Monsanto. (Those would be Brownsville-Harlingen and McAllen-Edinburg-Mission.). 12 (tie). 8. Easing the sting of taxes a bit is a cost-of-living index that's 10.8% lower than the U.S. average. Similar Facebook posts have circulated at least since 2011, but we wanted to . In the Portland metro area the state's most populous region costs are 15% above the national average. Agriculture, oil, copper and timber all play an important role in the economy, to say nothing of travel and tourism. But there are. When you purchase through links on our site, we may earn an affiliate commission. By Karee Venema *All figures are compiled by Wealth-X. The flip side is that Tennessee has the highest combined sales-tax rate in the nation, according to the Tax Foundation. On the other hand, Alaska is among the most tax-friendly states in the country. That's up from 6.21% in . Groceries and utilities are a bit pricier in the Sunshine State, but as a whole, Florida is only 0.6% more expensive than the U.S. average. The average combined rate is 7.63%, according to the Tax Foundation. The state also is home to nine billionaires. And given the widespread public dissatisfaction with the media, this bill . What part of Atlanta does most celebrities live? Minnesota is loaded with giant companies. Senators and Representatives (Personal Gain Index) . By Express News Service. And as any East Coast traveler can tell you, New Jersey is no longer a place where you can hop off an exit and buy cheap gas. Wherever they have traveled, they have made an impact. Chris Hogan, radio host and author of the book "Everyday. Indeed, small towns such as Dickinson and Williston, located in the oil-rich Bakken Formation, have some of the highest concentrations of millionaires in the U.S. It includes more people from Georgia. 4) Skidaway Island, GA. Grant Dawson via Flickr. Property taxes are on the high side, and you can only get relief from that if you're a low-income resident. Billionaires U.S. billionaires 1990-2020 U.S. billionaires 1990-2020 Number of billionaires in the United States from 1990 to 2020 Distribution of billionaires in the U.S. by gender 2022. Feel free to check out some more reading about Georgia: Population: 12,833Rank Last Year: 1 (No Change)Median Income: $110,253Unemployment Rate: 2.3%Poverty Rate: 3.6%More on Braselton: Real Estate|Photos, Population: 5,093Rank Last Year: Median Income: $77,509Unemployment Rate: 0.0%Poverty Rate: 2.8%More on Temple: Real Estate|Photos, Population: 7,615Rank Last Year: 4 (Up 1)Median Income: $94,189Unemployment Rate: 3.0%Poverty Rate: 2.0%More on Tyrone: Real Estate|Photos, Population: 9,194Rank Last Year: 3 (Down 1)Median Income: $83,100Unemployment Rate: 1.0%Poverty Rate: 5.2%More on Flowery Branch: Real Estate|Photos, Population: 51,103Rank Last Year: 5 (No Change)Median Income: $97,868Unemployment Rate: 2.2%Poverty Rate: 6.2%More on Dunwoody: Real Estate|Photos, Population: 82,068Rank Last Year: 6 (No Change)Median Income: $133,948Unemployment Rate: 3.6%Poverty Rate: 3.6%More on Johns Creek: Real Estate|Photos, Population: 7,066Rank Last Year: 9 (Up 2)Median Income: $72,835Unemployment Rate: 2.0%Poverty Rate: 2.8%More on Bremen: Real Estate|Photos, Population: 33,857Rank Last Year: 7 (Down 1)Median Income: $92,648Unemployment Rate: 3.3%Poverty Rate: 5.6%More on Woodstock: Real Estate|Photos, Population: 40,487Rank Last Year: 8 (Down 1)Median Income: $136,020Unemployment Rate: 4.2%Poverty Rate: 4.3%More on Milton: Real Estate|Photos, Population: 37,867Rank Last Year: 2 (Down 8)Median Income: $103,374Unemployment Rate: 3.4%Poverty Rate: 6.8%More on Peachtree City: Real Estate|Photos. Additionally, Alabama allows folks to deduct their federal income taxes (it's one of just of a handful of states with this break). But at 13.2%, it has the second-highest concentration of millionaires per capita of any city in the U.S. It also boasts a decent concentration of millionaire households. Overall, Michigan is 7.6% cheaper than the national average, led by lower prices for houses and groceries. Oral and maxillofacial surgeons make an average of $280,940. When people think about Rhode Island and millionaires, Newport and its grand 19th century mansions naturally come to mind. There are 1.2 million households in the top 1% of net worth and over 96% are white (1,152,000). The cost of living in Indiana overall is 10.7% below the national average. When it comes to paying taxes, the situation for Kentucky residents is mixed. And income tax is particularly complicated in Arkansas. The explosion in shale oil drilling has minted many a millionaire in North Dakota over the past decade. Heck, Texas is so big it not only has two of the smallest towns with the most millionaires in the U.S. Andrews and Fredericksburg but it's also home to two of the cheapest U.S. metro areas in which to live. There are fewer than 32,000 millionaire households in Maine a state in which rich and poor alike face relatively high living costs and taxes. Oklahoma has one of the highest combined sales tax rates in the nation, at an average of 8.94%. Note that while the sales tax is modest, groceries are taxed, albeit at a lower rate. North Carolina's tax situation is just so-so. 4. From a resurgent Cleveland to the university city of Columbus to Cincinnati with its touch of the South, Ohio contains multitudes of Midwestern culture. Property taxes are low and sales taxes average. By Jeff Reeves That's significant considering that a million bucks sure goes far in some parts of Indiana. Taxable income over $40,000 is taxed at a steep 6.5% tax rate (the top rate of 8.95% is reserved for taxable income over $1,000,000). 33 Major U.S. Companies Hiring Now to Meet Coronavirus Demand. Indeed, North Carolina's 3,490 chief executives have an average salary of $206,390, according to the Bureau of Labor Statistics. Were just going to leave this right here: if youre the home to The Masters golf tournament, you better believe you house some crazy rich cities. Georgia is the thirty-third-richest (33rd) state in the United States of America, with a median household income of US$46,007 (2011). As of March 2019, here are the world's 13 black billionaires. While In Atlanta, they met Mercedes Millionaire who loved their show so much she actually became part of the . Together, these inputs enable us to estimate the number of households by investable assets at a national level, Phoenix Marketing International said in its report. Affordability across a wide swath of goods and services has made Memphis, Knoxville and Jackson some of the least expensive places to live in the U.S. More broadly, the state's cost of living is 10.1% below the national average. A total of 12 billionaires live in Atlanta with a combined net worth of $55.1 billion. Although it has been working to lower its income taxes, Maine's lowest rate still is higher than some other states' maximum rate. Colorado has a relatively high concentration of millionaire households partly because it's an outdoor recreational paradise. The cost of living in Washington is 7.8% higher than the national average, according to the BEA. Montana is generally tax-friendly if you're still working. Randall Rollins, the chairman of Rollins pest control, had a net worth listed as $3.6 billion. The Golden State is home to the most millionaires in the nation, at more than 1 million households, and claims four of the top 10 metro areas with the highest concentrations of millionaires. Here are the top 10 billionaires in Canada, who are at the same time the 10 richest Canadians as of October 2021: David Thomson (and family), media magnate and hereditary peer - US$ 51 billion. Financial managers are among the highest paid professionals in the state. Physicians, CEOs and nurse anesthetists are among the state's best-paid jobs. Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016. Take a look at Georgia's richest people: Brown served as president and CEO of Stryker Corp., a medical device and software company, for 32 years before retiring as chairman in 2009. West Virginia benefits from natural resources such as gas and coal, and it collects significant severance taxes from them. The roaring stock market and crypto gains created more than a million new millionaires in the U.S. last year, according to a new report. In the former case, the state capital is home to a horde of state, county, local and federal agencies and the law firms and professional agencies that support them. When it comes to paying taxes, Nebraska is ranked as "least tax-friendly" by Kiplinger because the average property tax rate is quite high. According to the table there are 163,144 millionaires in Georgia, which is down some 7,000 millionaires from 2012. By the Council for Community and Economic Research's formula, costs are 14.3% higher in Vermont. Wyoming's famed Jackson Hole valley, with three major ski resorts and an abundance of other year-round recreational activities, also is a mecca for millionaires. We and our partners use cookies to Store and/or access information on a device. Year after year, the Old Line State routinely has one of the highest concentrations of millionaire households of any state in the union. 11 Monthly Dividend Stocks and Funds for Reliable Income. In Georgia, Atlanta is the only city home to any billionaires. He is an American businessman as well as philanthropist. A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. Indiana jumped four places in the millionaire rankings year-over-year. It also has the lowest beer taxes in the nation, a nice perk. The downside is that folks there need higher incomes; everything costs more in Alaska because it's so remote. Georgia ranked 27th on the annual Phoenix Wealth & Affluent Monitor. 15 Dividend Kings for Decades of Dividend Growth. Overall, the cost of living in the Yellowhammer State is 13.6% below the national average. For the fourth year in a row, UGA raised more than $100 million in private gifts ($110.8 million). Although the District of Columbia is a magnet for the highly educated seeking high-powered jobs, the downside is that you need a hefty paycheck to live there. The cost of living for Illinois is 1.9% below the U.S. average, but taxes can take quite a toll. Former New York City mayor Michael Bloomberg has given some $330 million in Covid-19 related funding. Naturally, Maryland also is one of the most expensive places to live, with a cost of living 18.8% greater than the national average. Median income is higher too, but by a slimmer margin. Sales taxes with an average combined rate of 9.16% do take a bite, though. Arkansas is not tax-friendly. 24 Dividend Cuts and Suspensions Chalked Up to the Coronavirus. As much as Seattle is associated with Washington State, millionaires also can be found outside the Emerald City that Bezos and Gates call home. For those looking to attain millionaire status in Kentucky, the folks with the highest salaries are surgeons, anesthesiologists and obstetricians. Millionaires and regular folks alike don't catch much of a break when it comes to giving the state government its cut. Rank Job Title Average Salary Entry Level Salary # Of People; 1: Vice President, Products & Marketing: $188,884: $132,000: 1,840: 2: Pain Management Physician: Heck, the cities of Jonesboro and Conway are among the least expensive places to live in the entire country. New Jersey's property taxes are the highest in America. Published 21 February 23. With a cost of living 7% lower than the national average, a million dollars goes a bit further in the Peach State than elsewhere. In the starting phase of his career, he was a Lieutenant in the United States Army. Although living costs are low, Indiana isn't a great state for taxes, whether you're working or retired. If you need proof that the house always wins, just take a look at Nevada. And property taxes, particularly in Detroit, are steep. Tennessee is known for country music, BBQ and bourbon more than an abundance of millionaires, but the state should get more recognition for its affordability. NY 10036. Here are the 10 richest places in Georgia for 2023: Braselton Temple Tyrone Flowery Branch Dunwoody Johns Creek Bremen Woodstock Milton Peachtree City How does one get their hand on one of these Georgia cities where living your best life is very expensive? They help drive an economy that supports more than 167,000 millionaire households. Top-paying jobs include surgeons, computer and information research scientists, nuclear engineers and sales engineers. In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics and more.