Inside the Wealthiest Suburbs in the USA

With their cookie-cutter homes and white picket fences, the suburbs symbolized America’s middle class post-World War II. But today, many of these residential areas are home to the country’s wealthiest demographics, boasting grand mansions, top-notch schools, country clubs, and exclusive amenities. GoBankingRates.com reports; however, that the most expensive suburbs are not necessarily those with the highest household incomes. In fact, they are on opposite coasts. 

The financial website ranked Scarsdale, New York, as the wealthiest suburb in America. There, households earn an average of $568,942, and a typical home costs $1,413,514.

Another New York community, Rye, located at the Connecticut state border, was second, with a median household income of $405,074 and a typical home value of $2,119,482.

“Our research shows that the top two wealthiest suburbs in America are both in New York: Scarsdale and Rye. However, while New York may have beaten out California for the wealthiest suburbs in terms of income, the Golden State suburbs on our list have significantly higher home prices,” CJ Williamson, data content researcher at GoBankingRates.com told Travel + Leisure.

Williamson added that Scarsdale’s home prices are one-third of home values in the No. 4 suburb on the list — Los Altos, California. “Even No. 15-ranked Saratoga, California, has a typical home value of $3.9 million, which is three and a half times as much as Scarsdale,” he said.

The New York suburb is located in Westchester County, just 20 miles north of Manhattan, and has nearly 19,000 full-time residents. The historic village has some of the best public schools in the state and offers many family-friendly amenities, such as the 33-acre Greenburgh Nature Center, athletic fields, and golf courses.

“This welcoming community, with its high standard of living and robust amenities, continues to attract those looking for a superior lifestyle and a sound investment opportunity,” Anne Moretti, a real estate agent at Julia B. Fee Sotheby’s International Realty, said, noting that buyer interest in the suburb surged during the COVID-19 pandemic, and the town is still experiencing high demand and low inventory.

“The transition to hybrid work schedules, emphasizing health, family time, and life balance, has further boosted the appeal of this suburb,” Williamson added.

One Arizona (Paradise Valley) and two Texas (West University Place and University Park) suburbs also ranked among the top 10 wealthiest in the country, performing better than Palm Beach, Florida, which came in at No. 11. However, the famously posh Florida town had the highest typical home value — over $11.5 million.

GoBankingrates.com also pointed out that, overall, there were 23 East Coast suburbs on the list versus 19 on the West Coast, of which 16 were in California, the most out of any state.