This middle-class New York town is experiencing a sudden wealth boom: Study shows surge of residents getting rich — quick
Between 2020 and 2023, the median household income in the enclave surged by a whopping 22.8%, according to research conducted by GOBankingRates.
The company analyzed income data from the US Census American Community Survey to determine the top 50 US towns where residents are building wealth the fastest. Huntington placed 16th on the list.
Back in 2020, the median household income in Huntington was $131,989. In 2023, that figure had risen to $162,066.
Meanwhile, the number of households making more than $200,000 in Huntington rose by an impressive 22.6% during the same four-year period— one of the highest percentages in the entire country.
Only three towns in New York state made the GOBankingRates list. All were located on Long Island.
Aurora East Media – stock.adobe.com
GOBankingRates didn't explain what, specifically, was behind Huntington's wealth boom. It was one of only three New York towns to make the top 50 list.
West Islip and Plainview, both located on Long Island, came in 21st and 33rd place, respectively.
The median household income in both of those nabes surged between 2020 and 2023, and is now inching toward $200,000 in both communities.
Meanwhile, Summit, New Jersey was named by GOBanking Rates as the number one town where 'upper-class Americans are getting richer.'
Summit, New Jersey was named by GOBanking Rates as the number one town where 'upper-class Americans are getting richer.'
Corbis via Getty Images
While the community has long been cashed-up, residents appear to be getting richer there at rates higher than anywhere else in the country.
Between 2020 and 2023, the median household income in Summit soared by a staggering 39.4%, from $142,845 to $199,107, per the study.
There was also a 23.6% increase in the number of households earning $200,000 or more.
The GOBankingRates study revealed that California is the state with the most areas amassing wealth quickly.
A whopping 20 of the top 50 towns on the list were located in the Golden State, proving it's still a place of upward mobility despite high taxes and astronomical property prices.
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