This South Bay City Is California’s Richest Small Town

PALOS VERDES ESTATES, CA — A South Bay city is included on a list of the richest small towns in the nation, according to a recent analysis by GOBankingRates.

Palos Verdes Estates, which has a population of 13,047, was named the state of California's richest small town with a median household income of $247,500 and an average home value of $2,673,523, GOBankingRates said.

Among the list of 50 richest small towns, “Palos Verdes Estates has the third-highest average home value,” according to GOBankingRates.

Cities and towns with 500 to 1,500 households were considered in GOBankingRates' analysis, which pulled data from the U.S. Census American Community Survey, AreaVibes and Zillow.

The list of the 50 richest small towns includes median household incomes from about $100,000 to $250,000. Among the cities on the list, the “average home values range from $217,000 to $4.5 million.”