Finding big money in Small Town U.S.A. is as simple as looking toward the mountains of the Old West.
America’s three wealthiest small communities are located in the western U.S. and tower at elevations exceeding a mile -- with real estate valuations some would consider even loftier.
Topping the list, and in this case appropriately named, is Summit Park, Utah, and its surroundings. One in six homes in the so-called micropolitan area is worth at least $1 million, with more than half of those in Park City and most of the rest in Summit Park, Snyderville and Silver Summit collectively, according to the Bloomberg Index of Affluent Micro Areas. Some 43 percent of the area’s homes are considered vacation properties.
The Bloomberg index is based on four equally weighted metrics: median household income, the percentage of households with at least $200,000 in income, median home value and the percentage of homes worth $1,000,000 or more.
This article was provided by Bloomberg News.
20. Claremont-Lebanon, NH-VT
Median Household Income: $54,744
Median Home Value: $199,500