Households in Huntington, Long Island have experienced a significant increase in their incomes since the COVID pandemic, according to a new study, elevating this once middle-class town onto a new affluent list.
Between 2020 and 2023, the median household income in the enclave surged by a whopping 22.8%, according to research conducted by GOBankingRates.Â
The company examined income data from the US Census American Community Survey to identify the top 50 US towns where residents are accumulating wealth most rapidly, with Huntington ranking 16th.
Back in 2020, the median household income in Huntington was $131,989. In 2023, that figure had risen to $162,066.Â
Simultaneously, the number of households earning more than $200,000 in Huntington grew by a remarkable 22.6% over the same four-year span—one of the highest growth percentages nationwide.Â
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.”
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.
