The 12 Richest Suburbs In The United States Might Make You Pause

According to a study by GoBankingRates — the study employs 2022 and 2023 data from the U.S. Census Bureau, the U.S. Bureau of Labor Statistics and Zillow — the once tried-and-true belief that suburbia was an escape from the high costs of gentrifying cities is no longer entirely true. The income required to live in the most expensive suburbs in America begins at an annual household income of $261,248 before rising to a high of $601,193. This is a household income above the number required to be considered in the top 10% of income earners in America, and indicative of how much you would need to earn to even consider living in one of these suburbs.

According to the Joint Center for Housing Studies of Harvard University, after an increase in amenities in suburban areas between 2011 and 2021, Millennials began leaving cities based on shifting priorities — expanding households requiring more space — and affordability. So there are still plenty of suburbs where you shouldn't spend too much of your income on rent or purchasing a home. According to the Federal Reserve Bank of St. Louis, the average purchase price of a home in the U.S. in the second quarter of 2025 was $512,800, while the Mortgage Bankers Association places the national median mortgage in June 2025 at $2,172 per month. As per Apartments.com, the national average rent as of July 2025, is $1,637 per month.

Your first indication that this first location is pricey is that this little known Los Angeles suburb is home to one of America's most expensive retirement communities. It doesn't get better if you're pre-retirement age according to Zillow, with the average value of a home in Cerritos at $1,054,271. That's just over twice the national average. As per the Bureau of Labor Statistics, the average household expenditure on groceries was $6,053 per year, or around $504.42 per month. According to Payscale, Cerritos' cost of living is 71% higher than the national average, reflected in grocery prices 9% higher than the national average. Utilities follow the same pattern at seven percent higher than the U.S. average, with transportation costs coming in 37% higher than the U.S. average. 

The average rent at $4,525 per month is also a barrier for anyone earning an average middle-class income, especially when considering the national average of $1,637 per month. As per the National Association of Realtors (NAR), the average monthly mortgage payment in Cerritos for a home with the median value of $924,538, slightly lower than the average value, is $5,441. The median is a calculation based on specific numbers consisting of an equal amount of lower and higher values, divided by a corresponding set of numbers, while the average adds up the total of all amounts and divides them by the corresponding set of numbers. Either still gives you an idea of what to expect in terms of monthly mortgage. 

Tenafly, New Jersey, as per the New York Times, is a suburb preferred by Manhattan's moneyed classes looking for a taste of city life in a suburban setting. Its proximity to the George Washington Bridge makes it a perfect getaway for people fed up with the hustle and bustle of New York City, but who also want the convenience of getting into the city when they feel like it. The 2009 New York Times article sets the average cost of a single-family home in Tenafly at $873,973. In 2025, as per the GoBankingRates study, the average cost of the same home is now $1,277,783. That's up by 3.9% from 2024, when the average home price wasn't much lower at $1,229,706.

As per the National Association of Realtors (NAR), the median monthly mortgage payment in Tenafly is $4,207 based on a median home value of $714,787. and Zillow notes that renting won't provide any relief with an average $5,965 per month. While this New Jersey suburb hosts one of the most expensive retirement communities in America, the median cost of a home is over a third of what one costs in Tenafly. This makes case according to Payscale, considering the overall cost of living in Tenafly is 68% higher than the national average, with housing clocking in at 257% above the national average. 

According to Payscale, Wellesley, Massachusetts, a Boston suburb, boasts a cost of living 94% higher than the national average. That's made up of costs higher than the national average for housing at 313%, utilities at 52%, transportation at 8%, and groceries taking the lowest financial hit with a 4% higher cost than the national average. Unsurprisingly, according to the U.S. Census Bureau, Massachusetts also happens to be one of three states with the highest median household income, coming ahead of most states with the highest average salaries. 

GoBankingRates data found an average household income of $368,179 bolstering a housing market where the average home value is $2,079,414. With the national average sales price reaching $512,800, the homes in Wellesley are valued at just over four times higher than the national average price of homes. Wellesley has the distinction of being located in one of the best states to live in 2025 with the second highest cost of living, with the NAR estimating a median mortgage of $4,616 per month. As per Zillow, as of August 2025 the average rent in Wellesley is $5,430 per month, which is over three times the national average.

The average home value, as per GoBankingRates, in West University Place, TX is $982,834, which isn't the most expensive housing market on this list, but is nothing to sneeze at. Considering that West University Place is a suburb next to one of the most overpriced Texan cities, it could be argued that the benefits for people earning an average household income of $409,677 may outweigh the costs.

Located in Harris County, HAR.com notes the average rent for a four-bedroom house is $5,165 per month. As per AreaVibes, the average monthly cost of rent for West University Place is $2,484. While that's definitely higher than the national average of $1,637 per month by $847 or $10,164 per year, it also indicates that this is one of those places in the U.S. where it may actually be better to rent than buy for the average person. Where the national average is represented by a score of 100, the overall cost of living has a score of 227, making the cost of living 127% higher than the national average. While goods and services are 1% higher than the national average and utilities are 3% higher, these aren't the main cause of the high average cost of living. Driven mainly by the cost of housing, a score of 526 points indicates a cost that's 426% higher than the national average.  

Los Altos, California happens to be located in one of four states where the wealthiest people in America live, and according to Payscale, a cost of living 194% above the national average supports that. While most of that has to do with housing which represents a cost 675% higher than the national average, groceries at a cost 43% above the national average is another factor. Trailing those percentages, but still adding to the cost of living, is healthcare, transportation, and utilities, coming in at 36%, 30% and 10% higher than the national average, respectively. The ability to comfortably afford the staggering median rent of $12,085 per month would likely be one of those signs that you've made it into the upper class.

Owning a home isn't going to be better for you if renting is out of the question. GoBankingRates research found the average value of a home in 2025 was $4,562,702. Shockingly, that's a 6.1% increase from 2024, representing a difference of over $260,494. The suburb's location in Silicon Valley likely has a lot to do with that, with the average household income approaching $403,512 a year. That said, according to San Jose Spotlight, even Silicon Valley employees were finding it difficult to afford living in the Valley thanks to median incomes not keeping up with the cost of housing, which makes a lot of sense looking at the cost of homes in Los Altos.   

Rye, New York won't make any rankings of best small towns to retire in New York state with an average home value in 2025 of $1,875,248. That said, that's maybe the way the top 5% of income earners in America who live here prefer it. As the second most expensive suburb in the U.S. in 2025, it should come as no surprise the average household income of people living here in 2023 was $421,259, with home prices rising 4.4% from 2024, the equivalent of just over $100,000 in a single year. The cost of that home, as per the NAR, comes with a median $4,415 per month mortgage in Westchester County where Rye is located. This is just over twice the national average. According to Zillow, an average rent of $4,680 per month ensures you'll still pay a premium to live there, whether you own or rent.

As per Bestplaces, where the national average is a cost of living score of 100, groceries are 20% higher than the national average, followed by utilities which are 52.8% above the U.S. average, and miscellaneous expenses, related to goods and services or entertainment, being 59% above the national average. In fact, Rye doesn't just have a cost of living score 57% higher than the national average, but also, 29.2% higher than the state average, too.

There's another suburb with "University" in its name located in Texas, and as per the GoBankingRates study, homes are valued at $2,456,871 there. The value of homes in University Park, Texas have increased by 5%, representing a difference of $116,289 from 2024. That's a spectacular return on investment, and real estate as part of a diversified portfolio is just another of the secrets the wealthy use to protect and grow their fortune. The average household income in this suburb sits at around $389,868, so if you live here, you likely qualify as part of that group.

According to Zillow, the average rent in University Park as of July 2025 is $4,551, or more than two and half times the national average. That said, Har.com estimates the average rent could be even higher at $9,746 for a 4,169 square foot house. Although University Park is located in Dallas County, as per Payscale, the average cost of living in Dallas is only one percent higher than the national average. The NAR backs this up with a $1,979 average mortgage for a home with the median price of $336,205. While the numbers between University Park and other parts of Dallas county are vastly different, keep in mind that Texas is a state with cities where a retiree could live on Social Security alone, and places like University Park, where those same retirees could quickly learn what it means to house poor.

As demonstrated by other cities on this list, the value of $100 in Texas can rise or fall easily based on where you live. Southlake, Texas, according to GoBankingRates, has homes valued at $1,290,325, which likely puts this Texan suburb in the latter category. As per Zillow, renting a place to live will average $5,794 per month. The average household income of $382,520 makes that amount an affordable proposition. Located in Tarrant County, a mortgage calculator provided by Realtor.com offers a glimpse of what the average monthly mortgage payment might look like. A 30-year fixed rate mortgage at around 6.5% with a 20% down payment — the equivalent of $299,700 if you're curious — adds up to a mortgage payment totaling $11,505 per month.

Again, the cost of living in Texas is far from static, with the NAR placing the median home value in Tarrant County at a much more affordable $354,011 with a mortgage payment around $2,038 per month. This is an indication that, although Southlake is a home for the moneyed classes, there are other more affordable options within the county for more working class aspirations.

The GoBankingRates study found that Hinsdale, Illinois, a suburb of Chicago, requires an average of $376,366 in household income to live there. If you were attempting to escape the most expensive zipcodes in Chicago with home values averaging just over $500,000, you might feel cheated by Hinsdale's home values averaging $1,234,894. Home values over $1 million will likely lead to hefty mortgage payments, but Zillow provides no better alternative with the average rent at $3,775 per month. That's over twice the national average. As per Payscale, Hinsdale's cost of living is 75% higher than the national average, with every metric except utilities coming at a premium of anywhere from 4% to 334% above the national average.

With 86% of Hinsdale located in DuPage County, according to the NAR, a median priced home value of $444,485 is far from the average, but reflects the potential for more affordable housing elsewhere in the County. With another suburb outside of Chicago with a $68,000 annual cost of living offering one of the most affordable places to live, you may be better off just seeking out cheaper options there.  

Orinda, a suburb in California, requires an average income of $369,073 to afford the cost of living there as per the GoBankingRates study. That's even considering that home values in the suburb have fallen by 3.5% from $2,019,537 in 2024 to $1,993,154 in 2025. While someone who purchased their home in the suburb last year may not be too happy about that predicament, it doesn't quite move the needle for any household making less than $369,073. The Contra Cost County suburb, according to the NAR, has a median home value of $894,235, which compared with the average is more affordable. However, according to the Federal Reserve Bank of St. Louis, still represents a median more than double the national median of $410,800. Zillow places the average rent in Orinda at $5,950 per month.

According to Payscale, the cost of living in Orinda is 95% higher than the national average. Housing comes in highest at 210% above the national average, followed by utilities at 56%, transportation at 40%, and groceries at 16% higher than the national average.

Like the previous suburb, GoBankingRates found that the value of housing actually went down by 1.8%. That's the difference however, between $2,550,706 and $2,598,591. If your household earns less than the average household income of $403,334 per year, that sliver of a percentage won't make much of a difference. It brings into the question how much your household would need to make in order to be considered upper class in California if this is the average household income in Alamo. Alamo is also located in Contra Costa County, so we know from the NAR that the median home value in Alamo is $894,235. Again, whether median or average, home values are much higher than the national average. According to Zillow, the average rent in Alamo is $6,500 per month.

According to Payscale, the cost of living in Alamo is 129% higher than the national average. Housing is the highest difference at 293%, utilities at 56%, Transportation at 40%, and groceries at 16% higher than the national average.

As it turns out, Scarsdale is not only the richest suburb in the U.S., but it also happens to be in one of the most expensive states to retire in. The GoBankingRates study would concur, with the average household income required to live here coasting to $601,193. Housing in Scarsdale may leave financial scars on your bank account, with an average home value of $1,207,528. As per the NAR, the Westchester County suburb with a median home value just over three quarters of a million dollars and median mortgage that's grown by $352 since 2024 would be an economic burden for anyone in the middle income tier. If you base the average monthly mortgage on a number closer to the average home value, as per Realtor.com, you get a monthly mortgage payment of around $10,652. That's based on a 30 year mortgage with a 20% down payment with an interest rate rounded up to around 6.4%.

According to Zillow, renting will also leave a mark, with an average of $6,500 per month. If this all sounds to rich for your situation, with so many small towns in New York that are affordable to choose from, there's no reason for you to financially burden yourself in Scarsdale.