re: Richest town in each SEC state

quote:

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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.

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When you get to a certain level of wealth, income stops being a useful measurement.

Lots of very high net worth people have incomes near zero. They don't work or don't rely on a paycheck to live. The assets are often tied up in individual and/or family trusts for tax purposes.

They may live in a mega mansion with a dozen exotic supercars in the garage, and a yacht moored at their private island. But their personal tax return would make them look like a bum under a bridge.