The best places in the US for wealthy people to live combine low taxes, high-end lifestyle and privacy. Top choices include Naples and Palm Beach, Florida and Jackson Hole, Wyoming (no state income tax), Scottsdale, Arizona (flat 2.5% income tax), Park City, Utah, Austin, Texas, Franklin, Tennessee and Henderson, Nevada. Classic high-tax enclaves like Greenwich, Connecticut and Atherton, California remain popular for their schools and networks. Taxes, though, are the factor that has moved the most wealthy households in recent years.
In this guide
Why state taxes matter so much
For high earners and investors, the state you live in can change the tax bill by six figures a year. Nine states have no broad state income tax on wages in 2026: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming. New Hampshire stopped taxing interest and dividends from the 2025 tax year.
Washington is changing. It already taxes long-term capital gains — 7% above an annual deduction and 9.9% on gains over $1 million — and in March 2026 the state signed a 9.9% tax on income above $1 million, due to take effect on January 1, 2028. A legal challenge is expected, so check the latest status before you plan a move.
| State | State income tax | State sales tax | Worth knowing |
|---|---|---|---|
| Florida | None | 6.00% | Most popular destination for wealthy movers |
| Texas | None | 6.25% | Property taxes among the highest in the US |
| Nevada | None | 6.85% | Close to California; Las Vegas and Henderson |
| Wyoming | None | 4.00% | Low property taxes; popular for trusts |
| South Dakota | None | 4.20% | Popular domicile for full-time travelers and trusts |
| Tennessee | None | 7.00% | High sales tax, low cost of living |
| New Hampshire | None (from 2025) | None | High property taxes |
| Alaska | None | None (local taxes vary) | High cost of living, remote |
| Washington | Capital gains tax; new 9.9% tax on income over $1M from 2028 | 6.50% | Check latest legal status |
Tax rates from SoFi (2026) and Washington law firm alerts. Local sales taxes are added on top of state rates.
10 best places in the US for wealthy people to live
1. Naples, Florida
Beaches on the Gulf of Mexico, golf communities, marinas and no state income tax have made Naples one of the most popular destinations for wealthy retirees and executives. Expect hurricane-season insurance costs to be part of the budget.
2. Palm Beach, Florida
Palm Beach is one of the most famous wealthy enclaves in America, and nearby West Palm Beach has grown into a finance hub as investment firms have opened offices in South Florida. Strong private schools and direct flights to New York keep it popular.
3. Jackson Hole, Wyoming
Mountain scenery, world-class skiing, no state income tax and low property taxes make Teton County a favourite for ultra-high-net-worth families. Housing is extremely limited, which keeps prices high.
4. Scottsdale, Arizona
Arizona has a flat 2.5% income tax, and Scottsdale offers desert golf, resorts, sunshine and a growing business scene, with easy access to California.
5. Austin (and Westlake), Texas
Austin attracts tech founders and executives with no state income tax and a strong tech job market. Wealthy families often choose Westlake for its schools. Remember that Texas property taxes are high.
6. Park City, Utah
Two major ski resorts, a short drive from Salt Lake City’s international airport and a lively mountain-town culture make Park City a top second-home and primary-home choice.
7. Franklin and Brentwood, Tennessee
These Nashville suburbs combine no state income tax with large homes, highly rated schools and a lower cost of living than coastal cities.
8. Henderson and Summerlin, Nevada
Master-planned communities near Las Vegas offer golf, guard-gated neighbourhoods and no state income tax, just a short flight from Los Angeles and San Francisco.
9. Greenwich, Connecticut
Long home to hedge-fund managers, Greenwich trades higher taxes for waterfront estates, top schools and a short commute to Manhattan.
10. Atherton, California
One of the most expensive zip codes in the country, Atherton sits in the heart of Silicon Valley. California’s top income tax rate (13.3% before additional surcharges) is the main reason some wealthy residents have left for other states.
How to choose: what wealthy families look for
- Taxes: state income, capital gains, property and estate taxes.
- Schools: top public districts and private schools.
- Travel: a major airport and private aviation access.
- Healthcare: proximity to top hospitals.
- Climate risk: hurricane, flood and wildfire exposure — and the insurance costs that come with them.
- Privacy and security: gated communities and low crime.
Choosing a US “home base” as a digital nomad
Many full-time travelers and location-independent Americans pick a state of residence (domicile) for tax and paperwork reasons. Texas, Florida and South Dakota are common choices because they have no state income tax and well-established services for people who live on the road. Keep in mind:
- Changing domicile usually means a driver’s licence, voter registration and an address in the new state — and proof you have left the old one.
- Your bank needs a valid address too. See our guide to alternative bank solutions for digital nomads, and choose accounts from our best banks for nomads list.
- Work out your budget first with how much money you need to become a digital nomad.
Not tax advice. State residency rules are complex, and states can challenge a move. Speak to a qualified tax adviser before changing your domicile.
Frequently asked questions
Where do most wealthy Americans live?
Wealthy Americans are concentrated in high-income metro areas such as New York, the San Francisco Bay Area and Los Angeles, but many have moved to low-tax states like Florida, Texas, Nevada and Wyoming in recent years.
Which US states have no income tax in 2026?
Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming have no broad state income tax on wages. Washington taxes capital gains and has passed a 9.9% tax on income above $1 million starting in 2028.
Why do wealthy people move to Florida?
Florida has no state income tax, no estate tax, warm weather, beaches and a growing finance sector in South Florida. Hurricane risk and rising home insurance costs are the main downsides.
What is the best state to live in for tax purposes?
It depends on your income type. States like Florida, Texas, Nevada and Wyoming have no income tax, but property and sales taxes vary a lot, so compare your total tax bill rather than just the income tax rate.
Which state should a digital nomad choose as a home base?
Many US nomads choose Texas, Florida or South Dakota because they have no state income tax and services for full-time travelers. Changing domicile has legal requirements, so get tax advice first.
Sources
- SoFi — States with no income tax (2026)
- Morgan Lewis — Washington adopts 9.9% tax on residents earning over $1 million
- Washington Department of Revenue — Capital gains tax
Last updated . Fees, rules and prices change often — confirm current details with the official source before you act. This article is for information only and is not financial advice. See our disclaimer.
