When thinking about the richest places in the United States, big, flashy cities and meccas often come to mind. Areas like New York City and Beverly Hills are certainly among the richest and most expensive places to live in the U.S., but it’s not just the big, glitzy cities that are rich. Some of the richest cities in America are actually small towns.
That goes against what many think of when they think of small town America. But, there are certainly some small cities and towns that have a lot of wealth, and living there can be quite expensive. So, why save all the riches for the big guys? Now, one study has revealed the richest cities in the United States that are small towns, including in this state.
The Richest Small Town in the State
GOBankingRates, via Yahoo Finance, has released a tally of the richest small towns in the country. To come up with this roster of quaint places, they looked at U.S. Census Bureau income data in areas in every state with 500 to 15,000 households. From there, they determined the wealthiest small towns in America. Note that they didn’t include Alaska, because there wasn’t enough data.
So, what’s the richest small town in Pennsylvania? They name Fox Chapel, which is more than four hours west of Philadelphia, so quite a trek. The median income in this area, according to the study, is $247,930.
Now, looking beyond small towns, what’s the richest and most expensive neighborhood in America? According to House Beautiful, it’s Gables Estates in Coral Gables, Florida. “This waterfront, gated community is extremely prestigious and highly exclusive; it’s made up of around 170 homes in a range of styles from Spanish Mediterranean to Art Deco to sleek and modern,” House Beautiful notes.
They add that the high cost of a home “isn’t the only obstacle to settling down here; there are plenty of rules and regulations a person must follow if they’re interested in buying a home in this neighborhood, such as going through a background check and submitting multiple letters of recommendation.”
