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re: Richest town in each SEC state
Posted on 11/30/22 at 10:44 am to MetroAtlantaGatorFan
Posted on 11/30/22 at 10:44 am to MetroAtlantaGatorFan
quote:
Key Biscayne $166,667 Jupiter $87,163]
It's adorable that you think median income represents wealth.
No idea what Palm Beach's median income is. I do know that the average house goes for $10M, the market maxes out at $350M, and you cannot even buy a house for under $7M.
Most people have their fourth of fifth homes here, or are retired.
Doctors, lawyers, etc. are not rich. Wall Street moguls and Fortune 500 tycoons are.
Jupiter is not wealthy because it has an average income of "$90,000." Jupiter is wealthy because it has $150M beachfront real estate and is the home to billionaires and most PGA pros. For all I know, some town in 30A technically has a higher income than Jupiter or Palm Beach. Palm Beach and Jupiter are still 100000X wealthier than 30A. Average income takes into account the working class that serves as waitstaff and cleanup for the rich. Those who drag down the "average income" do nothing to impact general comparisons of overall wealth.
3
Posted on 11/30/22 at 10:52 am to ClassicCityAlum
quote:
It's adorable that you think median income represents wealth.
Cool story, but that's not the premise of the thread.
Posted on 11/30/22 at 11:41 am to ClassicCityAlum
quote:
No idea what Palm Beach's median income is. I do know that the average house goes for $10M, the market maxes out at $350M, and you cannot even buy a house for under $7M.
And what about all of the condos on Palm Beach? FYI - The median income for the Town of Palm Beach in 2020 was about $169K and the median value of owner-occupied housing units was $1.2 million. Head South a few miles to Gulfstream (Population 885) and the median income is $250K and the median property value is $2 million because there only a hanful of condos.
Posted on 11/30/22 at 2:14 pm to ClassicCityAlum
quote:
No idea what Palm Beach's median income is. I do know that the average house goes for $10M, the market maxes out at $350M, and you cannot even buy a house for under $7M.
Palm Beach has nothing on Beverly Hills and Malibu with homes that have been up for sale for over $500 million.
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