5 Small Cities With Big Money
Wealth and extravagance is often associated with larger quantities, or something of great size. A big house is more expensive than a small house, and a giant 3D-television is more pricey than a small-screen television. However, sometimes big things come in small packages — like jewelry. The Graff Pink diamond, for instance, sold for $46 million in 2010.
In the U.S., the city with the most money is San Jose, California — home of the Silicon Valley. It has an average income of $90,737. There are also several small U.S. cities that have a large degree of wealth. Movoto recently published a report indicating the ten richest small cities in America. The report found locations where the population was between 30,000 and 80,000, and income and housing values were also high. It ranked other determinations of wealth, such as the incidence of fine dining establishments, private clubs, plastic surgeons, and luxury car dealerships. Based on Movoto’s report and supplemental data from Trulia and CNN, here are five small cities that have big money.
1. Bethesda, MD
Bethesda was ranked number one on Movoto’s list of the wealthiest small cities and it also ranked number one on CNN Money‘s Top Earning Towns. With a population of around 62,000, Bethesda residents earn median incomes of nearly $142,000. Median home values in Bethesda are $805,900, as of the most recent census. If you are looking to buy or sell a home in Bethesda right now, Trulia reports that as of the week ending April 30, the average list price on Bethesda homes is $1,245,046.
You can also find measures of wealth including fine dining, polo, private jet amenities, and yacht clubs in the Bethesda area.