This Is The Wealthiest Small Town In MA, New Study Says

Wealth can commonly be found in some of the nation's biggest cities, but what about in the small towns?

A new GoBankingRates study that set out to find pockets of wealth in the nation’s quieter communities found that the richest small town in Massachusetts is Boxford. There, the median annual income is $232,326. That's compared to a statewide median income of $99,858 in 2023.

Boxford is located in Essex County. It is described as a rural town with "almost no commercial development."

According to information from the town, the estimated population is 8,600. It boasts a "heavily forested" scenery with many hiking trails, lakes, streams and more.

The bucolic suburb has two schools, and offers easy access to major highways.

There are currently several multi-million dollar listings for sale in Boxford, including a $3 million, 11,000-square-foot home with a pool and a $2 million converted barn.

For the study, GoBankingRates analyzed income data from the U.S. Census Bureau’s American Community Survey. “Small town” was defined as having between 500 and 15,000 households. Data is current as of May 16, 2023. Alaska wasn’t included because it doesn’t have enough data.

The top five wealthiest small towns in the nation are:

• Orinda, California (median income $248, 984)
• Noroton, Connecticut (median income $248,125)
• Fox Chapel, Pennsylvania (median income $247,930)
• University Park, Texas ($247,045)
• Flower Hill, New York ($246,533)

The least affluent of these wealthy small towns are:

• Shelburne, Vermont (median income $96,976)
• Cassville, West Virginia (median income $105,440)
• Inniswold, Louisiana (median income $106,759)
• Hickman, Nebraska (median income $107,604)
• Helena Valley Northeast, Montana (median income $115,833)