close

10 Wealthiest Neighborhoods in New England

truila.com

In a recent ranking of the wealthiest states in America, three New England states made the top ten — Connecticut, Massachusetts and New Hampshire. Vermont and Rhode Island made the top 20. Maine didn’t fare very well, ranking 30th, possibly due to a significant portion of the residents working in the retail sector, as well as having a sparser population by comparison to more densely populated states in the Northeast. Even within the wealthy states, there is disparity in the affluence of different areas. With that in mind, here are ten particularly wealthy neighborhoods in New England.

1) Greenwich, Connecticut

Greenwich landed a spot on Time Money’s “10 Richest Places to Live” list in 2016. While the median household income for Connecticut is $71,346, the median in Greenwich is $136,032. The national median income is $55,775. Connecticut’s median home value is $270,900, but Greenwich homes are frequently over the $1 million mark. Connecticut has high levels of education which is a major factor in the wealth here. In 2015, Zillow released a ranking of the most expensive streets to live on in America. Two Greenwich roads made the list. Conyers Farm Drive has a median home price of more than $13 million, and was once the home of actor/director Ron Howard and Judge Judy Sheindlin. Field Point Circle also made the list with home costs over $12 million.

Advertisement

2) Newton, Massachusetts

The Boston suburb of Newton also made Time Money’s “10 Richest Places to Live.” The state’s median income is $70,628, but Newton’s is $118,799. Massachusetts’ median home value is $352,100, while Newton has a median of $920,000. Like Connecticut, Massachusetts has high levels of education and is home to several prestigious colleges and universities. Newton also made the magazine’s “Best Places to Live” list in 2016 ranking 31st. It’s only seven miles from downtown and connected by bus and train. The schools are ranked highly and they often partner with nearby universities like MIT and Boston College. Cost of living here is much higher than the national average, but residents enjoy the city amenities, as well as the Revolutionary War history, parks and Newton History Museum.

Advertisement

3) Newtown, Connecticut

A study published on MSN.com in 2015 used slightly different criteria to rank the richest towns in America. Newtown was one to make the list. The median income here is $116,771 versus the state average of $71,346. Despite being known for the tragic 2012 shooting at Sandy Hook Elementary School, the town is home to many families and barely an hour from the capitol of Hartford. New York City is just under two hours away. The town offers many parks, playing fields, and recreational areas. While some residents commute to jobs at GE, IBM and Pepsi, major local employers include the Board of Education, Charter Communications, and a couple of healthcare facilities. Residents enjoy housing options such as historic colonial homes, waterfront property and mixed use developments. The median home price is $347,500.

Advertisement

4) Bedford, New Hampshire

Bedford is 50 miles from Boston and a suburb of Manchester. It has a population of 22,204. While New Hampshire’s median household income is $70,303, Bedford’s median is $123,423, according to the American Community Survey, based on five years of data. The town’s website refers to itself as an “upscale residential town.” In 2015, Time Money listed Bedford as the 21st “Best Place to Live” in America. The median home price is $352,642. Though many residents commute to Boston for work, there are ample employment opportunities closer in Manchester with two hospitals, three bank offices, Verizon, Texas Instruments and Southern New Hampshire University. The area boasts strong schools and easy access to beaches and mountains. Residents also benefit financially from a lack of state income and sales tax.

Advertisement

Tags: , , , , , , , , ,

Story Page