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Study: Winnetka the 2nd Richest City in America

by Peter Thomas Ricci

A recent study ranked Winnetka near the top in terms of wealth and affluence

winnetka-second-richest-city-america-24-7-wall-street

Creative Commons 2.0: Zol87, http://commons.wikimedia.org/wiki/File:Welcome_to_Winnetka.jpg

Winnetka is the second-richest city in America, according to a new analysis from 24/7 Wall St.

In its study, which looked at a number of economic factors, 24/7 Wall St. emphasized Winnetka’s highly-paid, highly-educated population, of which 88 percent have at least a bachelor’s degree (three times the national average) and only 0.8 percent lack a high school diploma. Additionally, the study mentioned Winnetka’s median home value of $936,200, and its median household income of $211,250.

Only Scarsdale Village, a suburb of New York City, ranked higher in 24/7 Wall St.’s report; there, median household income is $233,311, and the median home value exceeds $1 million.

Characteristics of Affluent Areas

24/7 Wall St. also highlighted some of the interesting similarities that America’s wealthiest cities share, including:

  • All are quiet suburbs within commuting distance of a major city.
  • In eight of the 10 richest cities, at least 70 percent of households featured a married couple, and at least 30 percent of those married couples had children; that compares nationally with 48.7 percent of households with married couples and 20 percent with children.
  • Finally, all the richest cities also have highly educated residents. Ninety-seven percent of adults in those areas have at least a high school diploma, compared with 86 percent nationwide; furthermore, in nine of the 10 richest cities, 70 percent of adults have at least a bachelor’s degree, compared with 28.8 percent nationwide.

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Comments

  • Bert Gor says:

    How about that. When I went to New Trier freshman year my best friend (at the time) got $25 a day allowance. Yes, a day! It was tough to fit with some of the kids when my mom would shop at TJMAX because that is all she could afford. Although, now my kids love going to Savers to get good value.

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