(KRON) — The richest town in California is located on the Bay Area’s Peninsula, according to data compiled by Nexstar Media Wire.
The study showed that Hillsborough is the state’s richest town with a median household income north of $250,000. That figure is 232.7% more than the average American household, according to the study. For comparison, in Bar Nunn, Wyo., which the study determined to be Wyoming’s richest town, the median household income is $104,028.
Most households in Hillsborough are well-off, as data shows 69.6% earn more than $200,000 annually.
Hillsborough’s wealth shows off in benefits for its population. Its unemployment rate is just 5.4%, its percentage of families below the poverty level is 3.1, and 98.8% of Hillsborough residents have health insurance.
The town was established in 1910 and was occupied in its early years by gold rushers. In 1953, it established a minimum lot size of one-half acre to maintain a rural feel.
According to Census data, the town has a population of 11,373. It has 3,934 housing units, 93.7% of which are occupied.
Hillsborough is famous for the Flintstone House, a colorful home along Interstate 280 that resembles the famous TV show.
Methodology
To determine the richest town in every state, Nexstar Media Wire used the U.S. Census median household income data. Census statistics label median income earnings above $250,000 as “250,000+”, so ties were broken by the percentage of people annually earning more than $200,000.
Towns labeled by the Census Bureau as “Census-designated places” were not counted, along with towns with a population smaller than 1,000.
Rob Powell, Mike Taylor and Meg Shields contributed to this story.
(KRON) — The richest town in California is located on the Bay Area’s Peninsula, according to data compiled by Nexstar Media Wire. The study showed that Hillsborough is the state’s richest town with a median household income north of $250,000. That figure is 232.7% more than the average American household, according to the study. For […]
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