Massachusetts towns and cities with the most millionaires per square mile
If you live in Wellesley, you have a better chance of running into a millionaire than if you live in Boston.
Residents of Wellesley now have bragging rights that their town has the highest concentration of millionaires in the state, according to a new report by Boston Business Journal.
After analyzing state income-tax data for 2013, BBJ detailed the Massachusetts towns and cities with the most tax filers reporting at least $1 million in income in 2013, per square mile. They found that there were at least 10 areas with 25 millionaires per square mile, and another 11 communities with between 11 and 25 millionaires per square mile. Another 84 towns and cities had between one and 11 millionaires per square mile.
Wellesley took the top spot with 71.3 millionaire filers per square mile, followed by Cambridge with 62.8, and Brookline, with 61.4. For those familiar with Wellesley, its multitude of millionaires may come as no surprise. Homes there cost a lot, with the median sales price for 2015 sitting at $932,500, and an average listing price of $1,736,544, according to Trulia. There’s a reason some people refer to the town as “Swellesley.’’
Before you start feeling all jealous, it’s worth noting that the overall number of millionaires has been declining in Massachusetts since 2008. BBJ reports that, “Among the 30 Massachusetts towns and cities with the most million-dollar income earners in 2013, all but two — Milton and Natick — reported year-over-year declines in total filers.’’
Read the whole BBJ story and see the other towns that round out the top 20 here.
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