New York is one of the wealthiest states in the United States, with many affluent towns and neighborhoods in its suburbs and boroughs. But which town is the richest of them all? According to a recent report by HomeSnacks, the answer is Old Westbury, a village in Nassau County on Long Island.
What makes Old Westbury so rich?
Old Westbury is a historic and exclusive community, with a population of 4,671 and a median household income of $250,001. The town is known for its large and luxurious estates, some of which date back to the 18th and 19th centuries. Many of these properties are listed on the National Register of Historic Places, such as the Old Westbury Gardens, the former home of John S. Phipps and his family.
Old Westbury is also home to some of the most influential and successful people in the country, such as business magnates, celebrities, politicians, and athletes. Some of the notable residents of Old Westbury include billionaire investor Nelson Peltz, rapper and entrepreneur Jay-Z, singer and actress Beyoncé, former New York City mayor Michael Bloomberg, and NBA star Carmelo Anthony.
How does Old Westbury compare to other wealthy towns in New York?
Old Westbury is not the only rich town in New York, but it is the richest by a significant margin. The second-richest town in the state is Flower Hill, another village in Nassau County, with a median household income of $228,750. The third-richest town is Scarsdale, a village in Westchester County, with a median household income of $216,250.
In fact, Nassau County and Westchester County dominate the list of the wealthiest towns in New York, with 15 and 9 entries respectively. The only town from outside these two counties that made the top 10 is Sands Point, a village in Suffolk County on Long Island, with a median household income of $201,875.
What are the benefits and challenges of living in Old Westbury?
Living in Old Westbury comes with many perks, such as access to high-quality education, health care, recreation, and culture. The town has a low crime rate, a high graduation rate, and a high life expectancy. The town is also close to New York City, which offers a variety of opportunities and attractions for residents and visitors alike.
However, living in Old Westbury also has some drawbacks, such as the high cost of living, the high taxes, and the traffic congestion. The town is one of the most expensive places to live in the country, with a median home value of $1.8 million and a median rent of $3,500. The town also has one of the highest property tax rates in the state, at 2.7% of the home value. The town is also prone to traffic jams, especially during peak hours, as many residents commute to and from the city.
Conclusion
Old Westbury is the richest town in New York, and one of the richest in the country. The town is a haven for the wealthy and the famous, who enjoy its historic and elegant estates, its peaceful and safe environment, and its proximity to the city. However, the town is also a costly and crowded place to live, with high taxes and high rents, and frequent traffic problems. Old Westbury is a town of contrasts, where the rich and the poor, the old and the new, the rural and the urban, coexist and collide.