Photo: E+
Do you live in the richest town in Florida?
This fortunate town is known far and wide for housing the wealthiest residents in the entire state.
The high income of residents that call this town home is a direct reflection of the expensive home values that contribute to its reputation. While there are a handful of locations scattered across Florida that house wealthy residents, there is only one spot appropriately named the "richest town" in the state.
According to a list compiled by 24/7 Wall St., the richest town in Florida is Palm Beach. This locale has a median home value of $1,679,800 and residents make an average of $365,991 per year.
Here's what 24/7 Wall St. had to say about compiling the data to discover the richest towns across the country:
"Using five-year data from the 2022 ACS, 24/7 Wall St. identified the richest town in every state. Towns – defined for the purposes of this story as any city, town, village, or unincorporated community with a population between 1,000 and 25,000 people – were ranked on average household income. All supplemental data are also five-year ACS estimates. Among the towns on this list, average household incomes range from about $127,600 to more than $600,000. In most of these towns, over a third of all households earn at least $200,000 annually."
Check out 24/7 Wall St. for a continued list of the richest towns across America.