According to a recent survey, the median family income in Connecticut is $75,541. This has a lot to do with the many residents who commute to New York City for high paying jobs in investment banking, commercial real estate and hedge funds. Connecticut also boats the fourth highest percentage (36%) of college-educated residents which ups the earning power of homeowners.
While it’s no secret that Connecticut has a long and storied history of wealthy residents and some pretty breathtaking homes, there are certain towns and neighborhoods that can be considered among the priciest in the country.
Here is a sampling of some of the wealthiest zip codes in Connecticut and where it’s very difficult to find a home for under $2 million.
Greenwich: The shining beacon of Fairfield County wealth, Greenwich has been the undisputed king of big homes and even bigger paychecks. Many of the top hedge fund managers from Manhattan enjoy residencies in Greenwich and for some it’s become a game of who can top this when it comes to custom homes. Just to give you an idea of how much wealth we’re talking about, the median income for a household in Greenwich is $124,958 and the median income for a family is $167,825. According to the 2010 census, the per capita income for the town was $92,759. Greenwich also boats the highest wealth value in Connecticut with over $930,000 per person. And, in case you are wondering, the average listing price for a home in Greenwich is $4,047,989.
West Hartford: Though for inland and quite removed from Connecticut’s Gold Coast, West Hartford is no slouch when it comes to wealth. Incorporated in 1854, West Hartford has done everything it can to distinguish itself from the state capital and this enclave consistently ranks in the Top 10 of Best Cities for Raising Families, Best Small Cities in America and Best Cities for the Next Decade. The median income for a household is $80,061 while the median income for a family is $106,089. The median home value in West Hartford is $292,600 but the home values have gone up 2.3% over the past year and realtors expect that number to continue rising.
New Canaan: When talking money in Connecticut you inevitably return to the Gold Coast. After Greenwich comes the quiet but notable town of New Canaan. With a population of just under 20,000, the median family income in this town is $231,138 with the median home price listing for $1,465,000. CNN Money Magazine recently listed New Canaan as #1 when it comes to top earning towns in America. Finding a home in New Canaan for under $1 million isn’t exactly easy and that’s the way residents like it.