By Natalie Wise
A new list has identified the 10 neighborhoods with the highest concentration of the rich.
The list ranks neighborhoods by mean household income and Census Bureau data. Since the data reaches a limit of $2 million for mean household income, large cities with a super-wealthy population, such as New York City and Los Angeles, may have lower rankings. However, these areas are concentrated neighborhoods where the affluent congregate.
The Golden Triangle neighborhood of Greenwich, Conn., stole the top spot from Holmby Hills, Calif., which didn’t even make the top 10 this year due to an increase in high-rise condominiums. The mean household income in the Golden Triangle neighborhood is $614,242, and the average home price is $6.7 million.
Interestingly, 4 of the top 10 affluent neighborhoods are suburbs of Washington, D.C. This is likely due to the increase of families in the area with two high earners and the rise of businesses (such as lobbying and contractors) that drive Washington, D.C. The No. 2 neighborhood is Bradley Manor-Longwood in Bethesda, Md., followed by Potomac Manor in Potomac, Md., in the third spot. Another Washington, D.C., suburb is No. 5, Carderock-The Palisades, also in Potomac, and No. 7, Swinks Mill-Dominion in McLean, Va.
Stephen Higley, who compiled the list of neighborhoods, known as the Higley Elite 100, says there is increasing diversity in America’s wealthy neighborhoods, with the white population of America’s wealthiest neighborhoods declining.
For instance, No. 4 on the list is Old Cutler-Hammock Oaks in Coral Gables, Fla., with a mean household income of $596,851. Nearly 50 percent (48 percent) of this neighborhood’s residents are Latino, in particular Cuban, business owners and entrepreneurs.
East Lake Shore Drive in Chicago is No. 6 on the list, with a median household income of $595,454. Two neighborhoods in Newport Beach, Calif., take the No. 8 and 9 spots on the list: Cameo-Shores Highlands and Pelican Hill-Pelican Crest, respectively.
The only neighborhood in New York state to make the list is in Rye: Greenhaven, with a median income of $540,403.