realestate

New York's Affluent Haven: A $600K+ Household Income Suburb Uncovered

Luxury town tops rich list compiled by GOBankingRates.

S
carsdale, a Westchester town in New York, has taken the top spot as America's wealthiest suburb. According to a recent study by GOBankingRates, the mean household income in Scarsdale exceeded $600,000 in 2023, with a staggering $601,193 average.

    The study analyzed suburbs with at least 5,000 households using data from the US Census and other sources. Scarsdale's lead was substantial, with its closest competitor, Rye, boasting a mean household income of $421,259.

    Rounding out the top three was West University Place in Texas, with a mean household income of $409,677. California dominated the list, claiming 10 of the top 20 spots, many of which are clustered around Silicon Valley.

    A closer look at property prices reveals that New York's wealthiest suburbs offer better value for money compared to their California counterparts. In Scarsdale, the average home price is $1.2 million, while in Los Altos, California, it's a staggering $4.5 million.

    Other tri-state area towns made the top 50 list, including Tenafly and Summit in New Jersey, and Greenwich, Connecticut, which came in at 34th place with a mean annual income of $297,081.

Upscale New York suburb with affluent households and high household incomes.