(KRON) – A South Bay city has been named the nation’s richest retirement town, according to a study conducted by GOBanking Rates.
Located in Silicon Valley, Saratoga is a small town west of San Jose with a population of 30,000, according to the town. According to the report, Saratoga median household income is $241,348.
One in four Saratoga residents are over the age of 65, the report says.
The state of California has the most entries of the top 50 list with more than a quarter of the list. Bay Area suburb Walnut Creek was No. 11 for the wealthiest retirement town. The East Bay city’s median income is $135,665.
Other Golden Gate cities, GOBanking Rates found to have the richest medium incomes include:
- No. 3 Ranchos Palos Verdes
- No. 9 Laguna Beach
- No. 12 Cerritos
- No. 27 Fair Oaks
- No. 29 Rancho Mirage
- No. 30 Lincoln
- No. 33 Pacific Grove
- No. 41 Los Osos
- No. 42 Arroyo Grande
- No. 45 Cameron Park
- No. 46 La Quinta
Methodology:
GOBanking Rates determined the ranking by the personal finance website used U.S. Census American Community Survey data for cities with populations over 15,000 people and senior populations of 25 percent or higher.
(KRON) – A South Bay city has been named the nation’s richest retirement town, according to a study conducted by GOBanking Rates. Located in Silicon Valley, Saratoga is a small town west of San Jose with a population of 30,000, according to the town. According to the report, Saratoga median household income is $241,348. One […]
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