Our Area Has One of The Wealthiest Small Towns in The US
This may be somewhat of a curve ball for some, not the town that first comes to mind when you think of wealthy small towns.
The first question that I have about this ranking through Bloomberg and also Times Union is, what qualifies as a small town? Bloomberg is using the term “Micro Area”. After some research I found out that a Micro Area could be in reference to a Micropolitan, which is a town/city with a population of less than 50,000 people.
The way everything is being ranked is by a towns median household income along with homes with that of $200,000 plus a year as well. Ranking 15th across the country Hudson, NY comes in with a median income of $59,105 and just shy of five percent of the population makes more than $200,000. Along with that the ranking is also based off of median home values and homes worth at or above the $1 million mark. Hudson has a median home cost of 222,100 with 2.5 percent of homes valuing at a million or more.