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Just looked at the latest data on America's wealthiest towns in the us and some interesting patterns are jumping out. Scarsdale, New York is still holding the top spot for the second year running with average household income around $601k. Pretty wild that it's staying at the top with such consistent wealth concentration.
What caught my eye though is how much California is dominating the wealthiest towns in the us rankings. They've got 17 suburbs in the top 50 now, which is a massive share. Los Altos is sitting around $4.5 million for average home values, and you've got Alamo popping into the top 5 this year after not even making the list before. Meanwhile Texas is making a serious move too - five suburbs in the top 50 including West University Place at #3 and Southlake at #7.
The wealth concentration in these wealthiest towns in the us is pretty striking when you look at the numbers. New York suburbs like Rye are pushing $1.8 million in home values, while Florida's Palm Beach is sitting at over $10 million average. Meanwhile some of these wealthiest towns in the us are seeing home values appreciate 5-7% year over year, which is solid movement. Curious if this trend keeps accelerating or if we see some cooling in these premium markets.