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New survey names the richest small town in Massachusetts. Here’s what to know about it.
The town is located just 25 miles north of Boston, but offers a charming rural lifestyle away from the hustle and bustle of the city.
While cities like Boston boast plenty of well-to-do residents, a new study reminds us not to discount the little guys.
A recent survey by GoBankingRates found that Boxford is the richest small town in Massachusetts. Located in Essex County, Boxford has a population of 8,600 and a median annual income of $232,326, well above the statewide median income of $99,858. The stats make Boxford the 10th-richest small town in America, according to the study.
The town is located just 25 miles north of Boston, but offers a charming rural lifestyle away from the hustle and bustle of the city. According to its town website, the community is a “geographically large town with almost no commercial development.”
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“Heavily forested with many scenic hiking trails, Boxford is also home to numerous lakes, ponds, streams, wildlife, flora, and fauna and has received the prestigious Tree City USA award for 12 consecutive years,” town officials wrote on the website.
To determine each U.S. state’s wealthiest small town, GoBankingRates looked at 2023 income and household data from the U.S. Census Bureau’s American Community Survey. The site defined a “small town” as having between 500 and 15,000 households.
According to their findings, the nation’s five riches small towns are:
- Orinda, Calif. (median income $248, 984)
- Noroton, Conn. (median income $248,125)
- Fox Chapel, Penn. (median income $247,930)
- University Park, Texas (median income $247,045)
- Flower Hill, N.Y. (median income $246,533)
As for other New England states, the richest small towns are:
- Falmouth Foreside, Maine (median income $175,248)
- Hanover, N.H. (medium income $136,992)
- Kingston, R.I. (median income $116,250)
- Shelburne, Vt. (median income $96,976)
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