With its prefab homes and white fences, suburbs symbolized the American middle class post-World War II. But today, many of these residential areas house the wealthiest population in the country, boasting large mansions, top-tier schools, golf clubs, and exclusive amenities.
A survey by the financial website GoBankingRates.com ranked Scarsdale, New York, as the richest suburb in America. There, families earn an average of $568,942, and a typical home costs $1,413,514.
Another New York community, Rye, located on the state border with Connecticut, came in second, with an average household income of $405,074 and a typical home value of $2,119,482.
“Our research shows that the two richest suburbs in America are both in New York: Scarsdale and Rye. However, while New York may have beaten California with the two richest suburbs in terms of income, the Golden State suburbs on our list have significantly higher home prices,” said CJ Williamson, data content researcher at GoBankingRates.com, to Travel + Leisure.
Williamson added that home prices in Scarsdale represent a third of the values of homes in the fourth suburb on the list – Los Altos, California. “Even Saratoga, California, ranked 15th, has a typical home value of $3.9 million, which is three and a half times more than Scarsdale,” he said.
The New York suburb is located in Westchester County, just 32 kilometers north of Manhattan, and has nearly 19,000 residents. The historic village has some of the best public schools in the state and offers many amenities for families, such as the 33-acre Greenburgh Nature Center, athletic fields, and golf courses.
This community, with its high standard of living and robust amenities, continues to attract those seeking a superior quality of life and a solid investment opportunity,” said Anne Moretti, a real estate agent at Julia B. Fee Sotheby’s International Realty, noting that buyer interest in the suburb increased during the COVID-19 pandemic, and the city still faces high demand and low inventory.
An Arizona suburb (Paradise Valley) and two from Texas (West University Place and University Park) were also ranked among the 10 richest in the country, performing better than Palm Beach, Florida, which came in 11th. The Florida city had the highest typical home value – over $11.5 million.
GoBankingRates.com also pointed out that, overall, there are 23 East Coast suburbs on the list, compared to 19 on the West Coast, of which 16 were in California, the highest number of any state.
Source: Travel+Leisure