From a Bloomberg Report: Hudson City is Now the Wealthiest Small Town in New York

  |  April 3, 2017

Cornelius H. Evans House in Hudson. Via Wikipedia.

Not only is the city of Hudson in Columbia County the wealthiest small town in New York State, it’s also among the top 20 wealthiest town in the US, according to a report that came out at the end of March 2017. The report states that the median income for Hudson, NY residents is $59,105 and median home value of $222,1000, which is still a far cry from the number one wealthiest small town in the country, Summit Park UT with a median income of $91,773 and median home value of $497,300.

The “Bloomberg Index of Affluent Micro Areas,” as the report is named, defines a “micropolitan” as an area that “usually contains one urban center, at least one county and all the townships within, and has a combined median population less than 20 percent of a typical metropolitan region.” The index itself is based on four metrics each given equal weight: “Median household income, the percentage of households with at least $200,000 in income, median home value and the percentage of homes worth $1,000,000 or more.” Furthermore, the final index only counted areas in which vacation homes make up at least 10% of the total housing units.

Don’t think we didn’t see this coming. Hudson housing prices can be out of reach for many homebuyers, which is why we’re putting our focus on Rural Columbia County this week in the virtual pages of Upstater. Stay close to Hudson, live out in the country. Sounds like a win-win…

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