You probably think of suburbs as middle-class neighborhoods, where residents are well off but not rolling in dough. But lately, as cities get more crowded, wealthy people have been trickling into suburbs instead, especially suburbs surrounding cities where costs of living are rising. According to research by Zippia, as prices increase in large cities, communities on the outskirts of those cities get wealthier and wealthier.
This is the case for the American suburb with the wealthiest population. Despite its famously high income per capita, Connecticut is not the state where you’ll find the wealthiest suburb. In fact, the state is not in the Northeast at all. The richest suburb in America is Atherton, California, a town of 7,000 located about halfway between San Francisco and San Jose. Residents of Atherton, many of whom are tech professionals working for companies like Google and Tesla, rake in around $250,000 a year.
To determine the richest suburb, researchers at Zippia assessed 2,490 suburbs, all containing at least 2,000 people and situated within 30 miles of one of America’s 100 biggest cities. Using data from the American Community Survey, they found the median household income and median home value for each location.
The title-holder wasn’t the only surprising factoid to come out of Zippia’s study. The data actually found that the top three richest suburbs in the country are all in California, located in the Silicon Valley area. Not only that, but all ten of the top richest suburbs are either in California or New York! It appears wealthy people like living just outside of San Francisco, San Jose, and New York City. If you’re looking for a change of scenery, consider one of these 15 best cities to move to before they get too crowded.
Here’s the full list of the top 10 wealthiest suburbs:
- Atherton, California
- Los Altos Hills, California
- Portola Valley, California
- Sands Point, New York
- Woodside, California
- Hillsborough, California
- Brookville, New York
- Monte Sereno, California
- Ross, California
- Old Brookville, New York
Next, find out which small American towns have the most millionaires.