A tiny village on Long Island has been unveiled as the wealthiest small town in the entire state of New York, according to a new financial analysis. Muttontown, a community with a population of fewer than 3,500 people, claimed the top spot in a study conducted by Go Banking Rates.
The Numbers Behind the Wealth
The research, which focused on communities with just 500 to 1,500 households, used key financial metrics to determine prosperity. It found that the median household income in Muttontown is a staggering $247,589. Furthermore, residents typically live in properties valued at approximately $2.2 million.
This affluent neighbourhood, situated about 31 miles east of Manhattan, is also home to its share of fame. Among its exclusive residents is Grammy Award-winning artist Alicia Keys.
A High Price for Luxury?
Despite its significant wealth, the study revealed a surprising contradiction. Muttontown received the lowest livability score on the entire list, with a rating of just 56. This score, sourced from AreaVibes, is calculated using an algorithm that considers local amenities, cost of living, crime rates, education, and other quality-of-life factors.
The village offers quintessential upscale attractions, including its proximity to Oyster Bay for boating and fishing. A central feature of local life is the Muttontown Club, a prestigious country club complete with golf, fitness facilities, and pools set within a pristine manor.
The Long Island Dominance and a Jersey Rival
The analysis also highlighted the concentration of wealth on Long Island. A previous study from the same company found that the top seven most expensive places to live in New York are all located on Long Island. Of those, four, including Muttontown, are in Nassau County, with the other three in Suffolk County.
For perspective, the wealthiest town in neighbouring New Jersey, Glen Ridge, offers a compelling comparison. While it boasts a similar median household income of $248,016, its average home cost is practically half that of Muttontown, at around $1,132,974. Glen Ridge also enjoys a much higher livability score of 88 and is only 15 miles from Manhattan.
