WESTCHESTER COUNTY, N.Y. - A Westchester County municipality has been named the richest town in America, becoming the only Hudson Valley municipality selected among 25 locations ranked nationally.
Scarsdale achieved that distinction based on average income, based on a statistical study compiled by 24/7Wall St. , a financial news and opinion company that has been featured nationally.
The 24/7Wall St. report states that Scarsdale tops the nation in median household income, at $242,782, well ahead of Great Falls, Va., which sports a median income of $234,091. Rolling Hills, Cali. ($216,458), Winnetka, Ill. ($211,773) and Oyster Bay Cove ($210,288) round out the top five of “America’s Richest Towns.”
To compile their numbers, 24/7Wall St review income data of towns throughout the country from U.S. Census Bureau data between 2011 and 2015. The average American household earns approximately $54,000 annually, according to the report.
In addition to its impressive median household income, the website also cited Scarsdale’s $1.230,6000 median home value and 2.3 percent poverty rate. It is estimated that at least 87 percent of the village’s adults have earned a bachelor’s degree.