The cheapest house in America’s richest town is listed for $2.5M

The average household income in Atherton, California topped $500K last year

National /
Feb.February 22, 2020 12:00 PM
Atherton, California became the first community in the country where the average income topped half a million dollars this year. (Credit: iStock and Google Maps)

Atherton, California became the first community in the country where the average income topped half a million dollars this year. (Credit: iStock and Google Maps)

Atherton, California has topped Bloomberg’s Richest Places annual index for four years, but this year is unlike any other. And Atherton is unlike any other place in the country.

The Silicon Valley town became the first and only community in the country where average annual household income topped half a million dollars — $525,000 to be exact — since the index started in 2017, according to Bloomberg. That’s nearly $75,000 higher than the second-richest community on the list, Scarsdale, New York.

Atherton’s eye-popping household income is largely a product of the Bay Area tech boom. The town is chock full of billionaires and millionaires who amassed their fortunes in the tech industry.

A scan of the MLS revealed that the cheapest house currently on the market is listed at $2.5 million. The most expensive property on the market is listed at $32 million.
Several other Silicon Valley towns and cities made Bloomberg’s list. Two others were in the top five: Hillsborough rose to third place from fifth place last year with an average household income of $430,631, and Los Altos Hills fell one spot to fourth with an average income of $405,073.

Like Atherton and its neighbors, many of the country’s wealthiest communities are clustered around centers of economy and power — there were 12 counties across the country with at least four communities on the list.

The New York metro area comprising several counties in New York, Connecticut, and New Jersey had the most with 26. There were 16 communities in the Bay Area on the list, eight in Cook County on the list, and four in Los Angeles County.

All in all, 16 states had communities on the list. The addition of Lucas and Alamo Heights gave Texas a total of eight communities. [Bloomberg] — Dennis Lynch


Related Articles

arrow_forward_ios
Gideon and Susie Yu ask $27M for mansion in nation’s wealthiest town
Gideon and Susie Yu ask $27M for mansion in nation’s wealthiest town
Gideon and Susie Yu ask $27M for mansion in nation’s wealthiest town
(iStock)
Bay Area luxury market soars in Q2
Bay Area luxury market soars in Q2
The founders aim to make a modern day "Renaissance Florence". (Getty / Illustration by Alison Bushor)
Futurists aim to build semi-autonomous city without “dumb regulations”
Futurists aim to build semi-autonomous city without “dumb regulations”
Mark Zuckerberg and Facebook co-founders lived at this Los Altos home while creating the site. (Getty, GTeam Rentals)
Facebook founders’ early Silicon Valley home up for rent
Facebook founders’ early Silicon Valley home up for rent
Former JetBlue Chairman Joel Peterson and his 5 house compound. (Getty, Arthur Sharif & Associates)
Former JetBlue exec lists Silicon Valley compound for $49M
Former JetBlue exec lists Silicon Valley compound for $49M
The company is planning to do the same with two or three other dealerships. (Dahlin Group)
Keys to car and castle: Silicon Valley Toyota dealer wants to build apartments above
Keys to car and castle: Silicon Valley Toyota dealer wants to build apartments above
As companies leave Silicon Valley, Austin, Texas is becoming a top destination. (Getty)
Silicon Valley exodus: Where’d everyone go?
Silicon Valley exodus: Where’d everyone go?
Rana Creek Ranch (Credit: Hall & Hall)
Lesser-known Apple co-founder re-lists 14,000-acre California ranch
Lesser-known Apple co-founder re-lists 14,000-acre California ranch
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...