Town Falls From Top Spot Among Wealthiest Cities
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Oh, the agony of it all. Rolling Hills is no longer ranked the wealthiest city in the United States, according to one survey. Instead, based solely on real estate values, it has plummeted to No. 3.
In the July/August issue of Worth magazine, the tiny burg of Matinecock, N.Y., is the top spot for the wealthy. The median price of a home in the Long Island village with 880 residents is about $1.5 million. Ranked No. 2 is Aspen, Colo., with a median house price of $1.4 million.
Next on the list is Rolling Hills, a town of 1,968 residents whose 684 homes on the Palos Verdes Peninsula have a median price of $1.1 million.
Rolling Hills, which had been in the Worth survey last year, dropped to third place because the magazine decided to calculate wealth by analyzing real estate prices only. Last year, the publication looked at residents’ incomes as well as real estate values.
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