Florida Cities Occupy the Forbes List of "America's Millionaire Capitals"
If you've ever wondered where all the members of that oh-so-loathed "1%" that's not too hot with the Occupy Wall Street movement, look no further than Florida -- mostly South Florida.
Forbes decided to use an interesting method to figure out the rankings for its list of "America's Millionaire Capitals" -- sorting IRS filings by Zip Code, finding the highest average incomes across the country above a $200,000 annual income, and crossing cities off the list whose residents don't bank at least $1 million per year on average. (Plus some other wonky steps detailed here.)
Not surprisingly, seven of the 20 richest "millionaire enclaves" were in Florida, as far north as -- you guessed it -- Palm Beach and as far south as Key Largo.
The city with the highest net worth above $200,000 in the country is the Miami-area neighborhood Fisher Island, which has consistently been home to the most moneymakers in the nation for at least the past decade.
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The average net worth for Fisher Island's few hundred residents is $57.2 million. They're a bit far from that "99%" movement.
Fourth on the list is Palm Beach, at $23.3 million, and Boca Raton is three spots below at $21.2 million. (Remember, it's only the average among people banking more than $200,000 annually.)
On down the list, Key Largo registered at 11th at an average of $17.9 million, Miami's Bay Harbor Islands was 14th at $16.6 million, Fort Lauderdale was 16th at $16.5 million, and Naples nabbed the 20th spot at $16 million even.
When Forbes' list of rich cities was reordered by average income, Fisher Island still ranked first at $3.2 million -- a little more than $1 million more per year higher than the second-highest-earning city, Purchase, New York, near White Plains.
The average income sorting knocked Fort Lauderdale, Key Largo, and Naples off the top-20 list.
The other factor Forbes sorted was "generous towns," in which Fort Lauderdale made it back on the list -- sort of.
Fort Lauderdale was near the top of that list when it was sorted in the opposite direction -- making the list of "cheap towns" -- with the rich residents donating an average of just 2.1 percent of their average income to charity.
Click here for Forbes' photo gallery of its "Millionaire Capitals" list.
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