Once emblematic of America’s middle class, suburbs today showcase some of the nation’s wealthiest enclaves, boasting expansive mansions, prestigious schools, and exclusive amenities. According to GoBankingRates.com, the title of the wealthiest suburb in America goes to Scarsdale, New York, where households earn an average of $568,942 annually, and typical homes are valued at $1,413,514.
Rye, another New York community bordering Connecticut, follows closely as the second wealthiest suburb with a median household income of $405,074 and home values averaging $2,119,482.
“While New York emerged as home to the top two wealthiest suburbs in terms of income, California suburbs dominated in terms of home prices,” noted CJ Williamson, a data content researcher at GoBankingRates.com, in an interview with Travel + Leisure. He highlighted that while Scarsdale’s home prices are substantial, they are significantly lower than those in suburbs like Los Altos, California, where typical home values can reach $3.9 million, nearly three and a half times higher.
Located just 20 miles north of Manhattan in Westchester County, Scarsdale charms residents with its historical charm, excellent public schools, and abundant family-friendly amenities such as the Greenburgh Nature Center and extensive recreational facilities.
Anne Moretti, a real estate agent at Julia B. Fee Sotheby’s International Realty, noted the suburb’s enduring appeal, particularly heightened during the COVID-19 pandemic as interest surged due to its high quality of life and attractive investment opportunities. Williamson added that the shift towards hybrid work arrangements has further bolstered Scarsdale’s appeal, emphasizing health, family time, and overall life balance.
Among the top 10 wealthiest suburbs, Arizona’s Paradise Valley and Texas’ West University Place and University Park also made notable appearances, surpassing Palm Beach, Florida, which ranked 11th but boasted the highest typical home value exceeding $11.5 million.
GoBankingRates.com’s findings highlighted a skew towards East Coast suburbs, which outnumbered their West Coast counterparts, with California leading as the state with the most suburbs represented, totaling 16 out of 19 listed.
As suburbs continue to evolve as hubs of wealth and lifestyle, the allure of communities like Scarsdale remains strong, promising both a luxurious living experience and solid investment potential in the ever-changing landscape of American residential real estate.
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