And in some cities you actually have both. Where I live we have these big, wealthy suburbs (New Albany for example), Delaware County in central Ohio is one of the top countries by income in the whole country - all suburban. Yet we also have some absolutely fantastic and premier neighborhoods in the Columbus area with prices to reasonably match given the scarcity of actual neighborhoods and such, though I actually think the homes in these areas are a bit under-priced and the large suburban homes a bit over-priced.
Some of these people meet a certain definition of "rich", as in they never have to worry about money. Most suburbanites are not rich by that definition, there's a mix of negative net worth "keeping up with the joneses" types and the single digit millionaires who are a little less flashy and careful with their money.
A useful example - I knew a guy who lived in Naperville and owned an insurance company, drove a hot Jaguar and lived in a huge house. When the housing market crashed, he gutted it and sold off all the parts he could before the bank foreclosed on it.
I’m still working (I enjoy it!). But, having a job is no longer stressful. Small stuff completely doesn’t matter and big stuff barely moves the needle.
I screw up at work? What are they gonna do, fire me? lol who cares.
Doing salary or raise negotiations? Max the band out. What are they gonna do, not hire me? lol who cares.
Rumors of layoffs? lol who cares.
the suburbs around new york are some of the richest in the world. Scardsale, every town near the ct border, rye, huge parts of li, montclair nj and the towns around it.
the average household net worth in westchester which is a huge county is $1m, thats on the same tier as wealthy parts of any major city.
Sames true of the suburban sprawl of the bay area and dc.
1M is also the price of a one bedroom apartment in the city of 8.6M. That is, if you don't want a 45 minute one way commute.
The OP wrote this:
> As an American, I don’t think of the suburbs when I think of rich people.
Which, I think is still the case in NY. Upper East Side, Chelsea, West Village, wherever. $40 million apartments, billionaire's row.... when I think the suburbs yea there are wealthy people there but you're talking $1mm for a house or something. In Ohio $700k - $1mm is pretty common in the suburbs around Columbus (and the downtown neighborhoods). The prices are usually higher outside of the city. I think this is typical, whereas NY it's the opposite. It's a little distorted because NY is so wealthy that you see the suburban prices and it tricks you a little bit, but it's really an inside-out model there and most of America is still priced from the outside-in.
Think Hillsborough/Atherton/Palo Alto, Carmel IN, Newton/Brookline MA, Beverly Hills, Greenwich County CT, River Oaks in Houston, Boulder CO, Scottsdale AZ, etc
This and a few other places like it are where most wealthy people in Houston live. A suburb like Katy is great for a “rich” petroleum engineer and what not. But wealth is something else.
The wealthiest people I see don't live in any particular place. They have houses everywhere — inner city, the spacious suburbs you mention, rural, and everything in between. They don't limit themselves to living in just one country either.
Having one home and seeing your entire life revolve around it is what poor people do.