What are some characteristics of wealthy communities?


Quick Answer

Wealthy communities feature older single-family homes in a suburban setting, according to Esri. Wealthy community residents hold higher-education degrees and derive supplemental income from interest, dividends and rental properties. The neighborhoods typically lack ethnic diversity, with Caucasians making up the majority of the population, says Time. About two-thirds of community residents are married, while about 50 percent have children.

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Full Answer

Nine of the 10 wealthiest communities in the U.S. appear in the northeast, and the 10th is in the mid-south. The wealthiest communities are in Connecticut, Maryland, New York, New Jersey, Virginia and Texas, states Time. About 87 percent of residents in these communities make mortgage payments of more than $2,000 a month. These communities have modern, but older, homes that were built in the 1970s. The eastern communities spend about $5,000 a year on home improvements. Most of the homes boast well-maintained lawns.

About 80 percent of wealthy community residents hold a Bachelor's degree, notes Time. These communities boast low unemployment rates of less than 6.5 percent. More than half of the households earn an annual income of more than $150,000. The majority commute to work.

Wealthy communities make their children's education a priority. For instance, Potomac, Maryland, ranked the sixth wealthiest U.S. community, has several nationally ranked schools, notes Time. High school students in these communities score well on the SAT, ACT and AP exams.

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