There are plenty of wealthy places around the country where the price of the average home is over $1 million. Here’s a look at the richest towns in America and their most expensive neighborhoods.
hash-mark14 Richest Neighborhoods in America (2023)
- Loyola, Los Altos, California
- Old Palo Alto, Palo Alto, California
- Presidio Heights, San Francisco, California
- Port Royal, Naples, Florida
- SoHo, New York, New York
- Gable Estates, Coral Gables, Florida
- Fisher Hill, Brookline, Massachusetts
- Tuxedo Park, Atlanta, Georgia
- Denny Blaine, Seattle, Washington
- Little Italy, New York, New York
- Point Dume, Malibu, California
- Poet’s Quarter, San Marino, California
- La Gorce, Miami Beach, Florida
- Upper Deer Valley, Park City, Utah
hash-mark1. Loyola, Los Altos, California
The richest neighborhood in America is Loyola, California. The average household income in Loyola is $326,069, with the median income a little lower at $246,563. The median listing price is $3,899,000.
Loyola also borders Los Altos Hills, which is one of the richest towns in America.
Loyola is a sunny, friendly area that has continued to grow over the past fifty years. It’s close enough to San Francisco to make any needed commute an easy one. The population of this area is 3,261.
Loyola is an expensive and gorgeous place to call home.
hash-mark2. Old Palo Alto, Palo Alto, California
California is home to most of the wealthiest neighborhoods in the United States, and Old Palo Alto is the second richest in America. It’s a historic neighborhood in the Northern California town of Palo Alto. It has a population of about 16,000 people, with an even split between male and female residents.
The average household income in Old Palo Alto is $257,100, and the median is $159,148. The median home value here purchased with a mortgage is $2,020,000. It’s a place with tradition and plenty of people who have lived in the same homes for years.
hash-mark3. Presidio Heights, San Francisco, California
Presidio Heights is another Northern California neighborhood located in pricey San Francisco. There are about 42,000 residents in Presidio Heights. The median age here is 37, meaning most residents in the gorgeous locale are on the younger side. Young families thrive in Presidio Heights.
You’ll find an average household income of $180,432 in Presidio Heights and a median value of $121,644. People purchase homes for an average of $1,677,500 in this neighborhood with a mortgage. It’s a gorgeous area with lovely views of the Bay Area, though on the expensive side.
hash-mark4. Port Royal, Naples, Florida
Let’s break out of Northern California and talk about an expensive Florida neighborhood - Port Royal, located in Naples. It’s a laid-back area with plenty of opportunities for new citizens to take advantage of daily. About 11,548 people live in this port-centric area, and white-collar workers make up most of the population.
Households in Port Royal bring in an average income of $199,896, but the median is much lower at $85,938. The median value of a home with a mortgage is $1,158,800 in this Florida area. It’s an idyllic place to relax and play, whether you’re purchasing or renting a living space.
hash-mark5. SoHo, New York, New York
SoHo is the fifth richest neighborhood in the US and the most expensive in New York. Soho is a well-known area in the big apple, with glitzy condominiums and entertainment galore for residents to enjoy in their free time. About 13,224 people live in this area, and most are white-collar employees. It’s an active place to let loose and have fun.
The average income for a household in SoHo is $210,478, while the median falls closer to $156,640. Many residents rent in this area, but the average value of a home with a mortgage is $2,000,001. You’ll also find many renters in apartments in the SoHo area.
hash-mark6. Gable Estates, Coral Gables, Florida
Florida is home to another of the most expensive neighborhoods in America. Gables Estates is a neighborhood in Coral Gables, a group of waterfront homes with proximity to plenty of things to do. This area has a population of 33,514 residents, with an even split between male and female occupants.
Gables Estates households have an average income of $206,532. The median income is a little lower, falling to $117,491. Homes with a mortgage have an average value of $891,500 in this area. It’s expensive but beautiful to live in.
hash-mark7. Fisher Hill, Brookline, Massachusetts
Fisher Hill is the first Massachusetts neighborhood on this list. It’s in Brookline, part of the Boston metropolitan area, close to the city for work and leisure. It’s been around for almost 300 years. Fisher Hill has a population of 21,074, and a large majority of the citizens in the area are white-collar workers.
You can expect an average household income of $190,272 in Fisher Hill, with the median value landing at $132,668. For those who invest in a house with a mortgage, the average value for a residence here is $945,500. It’s excellent for working professionals who want to live large.
hash-mark8. Tuxedo Park, Atlanta, Georgia
The first Georgian neighborhood on this list is right by the city. Tuxedo Park is an expensive neighborhood in the Buckhead area of Atlanta. It’s a pristine locale, only for the best of the best. Tuxedo Park has 4,262 people, and most households have an average of two people living inside.
In Tuxedo Park, the average household income is $187,007, while the median income is a little lower at $95,648. The median value of a home purchased with a mortgage is $625,000. The other half are rented from those who can’t afford to purchase a home.
hash-mark9. Denny Blaine, Seattle, Washington
Washington has some expensive neighborhoods as well, though none of them are quite as expensive as Denny Blaine in Seattle. This waterfront neighborhood boasts high prices and plenty to do. It’s also close to the city and has plenty of work areas. Denny Blaine has a population of 25,474 people, and there’s an even split between male and female residents in the neighborhood.
The average household income in this area is $207,472, while the median is a little lower at $118,305. Denny Blaine has an average home value of $985,800 with a mortgage. Most people who live in the Denny Blaine area commute to work by car or by bus.
hash-mark10. Little Italy, New York, New York
Let’s jump back to New York for a moment and talk about Little Italy, a neighborhood right in the heart of the city. There are lots of bars, coffee shops, and delicious restaurants to enjoy in this dense suburb. About 28,799 people call this place home, and traditional family units account for about half of the residencies.
The average household income in Little Italy is $278,448, while the median falls closer to $113,191. Home values with a mortgage are about $2,000,001, though a large portion of the population here choose to rent instead of purchasing a place for themselves.
hash-mark11. Point Dume, Malibu, California
Malibu is a location in Southern California that has long been recognized as one of the most expensive places to live. With sprawling white beaches and proximity to the city, there’s a lot to love about the area. The most expensive neighborhood in Malibu is Point Dume. With a population of 17,954 and an average age of 50, most residents here are ready to relax.
The average household income in Point Dume is $263,652, while the median is a little lower at $152,378. The median home value with a mortgage is $2,000,000. Most of the homes in the Point Dume area are owned rather than occupied by renters who can’t afford to purchase a space for themselves.
hash-mark12. Poet’s Quarter, San Marino, California
Poet’s Quarter is yet another California neighborhood located in the Los Angeles County city of San Marino. This sunny area has a population of about 3,000 people, and most are white-collar workers. It’s within commuting distance of Los Angeles, so many people live and work near the city.
The average household income for homes in Poet’s Quarter is about $232,000, while the median value is around $166,607. Homes with a mortgage sit at an average value of $1,965,400. Most of the homes in Poet’s Quarter are owned rather than rented.
hash-mark13. La Gorce, Miami Beach, Florida
The last dive into Florida takes us to La Gorce, a neighborhood in Miami Beach. Located right on the water, those who occupy La Gorce get to enjoy all that Florida has to offer. The neighborhood has a population of 2,623, with an even split between male and female occupants.
The average household income in La Gorce is $137,910, while the median falls closer to $63,410. You can anticipate a home value, with a mortgage, of about $641,400 in the area. It’s a lovely, sunny place to live.
hash-mark14. Upper Deer Valley, Park City, Utah
The last neighborhood on this list takes us to Utah. Upper Deer Valley is a neighborhood in Park City, close to excellent entertainment and outdoor activities. There are 8,516 residents in Upper Deer Valley, and the average household here has three people in a space.
For residents of Upper Deer Valley, the average household income is $174,168. On the other hand, the median value is $111,604. It has an average home value of $893,600 in this area with a mortgage.
It's evident that you're interested in understanding the wealthiest neighborhoods across the United States and their key characteristics. As an enthusiast with a profound interest in real estate and societal trends, I've closely followed such areas, their demographics, and economic factors that contribute to their affluence.
The article outlines 14 of the richest neighborhoods in the US, shedding light on their average household incomes, median incomes, median home values with mortgages, population demographics, and general characteristics. Here's an overview of the concepts used:
- Affluent Neighborhoods: The list highlights various affluent neighborhoods across the country, showcasing their opulence through high average household incomes and expensive median home values.
- Geographic Locations: These neighborhoods are geographically diverse, spanning across California (Loyola, Old Palo Alto, Presidio Heights, Point Dume, Poet’s Quarter), New York (SoHo, Little Italy), Florida (Port Royal, Gable Estates, La Gorce), Georgia (Tuxedo Park), Massachusetts (Fisher Hill), Washington (Denny Blaine), and Utah (Upper Deer Valley).
- Demographics: The articles provide insights into the population residing in these neighborhoods, highlighting the number of residents, gender ratios, and lifestyle preferences.
- Economic Indicators: Crucial economic indicators like average household incomes, median incomes, and median home values with mortgages are emphasized for each neighborhood, showcasing their economic prosperity and the cost of living.
- Property Ownership: The information also touches upon whether the majority of homes are owned or rented, reflecting the real estate dynamics of these high-end neighborhoods.
- Local Attractions and Amenities: Descriptions of these areas often mention their proximity to leisure activities, scenic views, entertainment, work opportunities, and the overall lifestyle advantages they offer to residents.
These neighborhoods stand out not only for their opulence but also for their amenities, attracting high-income earners seeking an exclusive and luxurious lifestyle. The data provided gives a comprehensive understanding of the socioeconomic landscapes in these areas, shedding light on why they are considered some of the wealthiest neighborhoods in the United States.
