How Many Millionaires Live in Melrose?

Like the Barenaked Ladies said in their hit song, "If I Had Million Dollars...

...I'd be one of 16 taxpayers in Melrose who made at least a million dollars in 2010."

OK, so those weren't the actual lyrics of the song. But they are the actual numbers in a searchable database in the Boston Business Journal.

Greater Boston’s suburbs to the west are among the state’s wealthiest, the Boston Business Journal reported, citing state tax data on millionaire filers in 2010. Weston tops the list with a millionaire filer for every 27 residents. 

Melrose's number of millionaire filers is ranked 149th out of 351 cities and towns, with one millionaire filer per every 1,686 residents. The average reported income for every millionaire filer was approximately $1.9 million.

There are some caveats that the Boston Business Journal noted, however. The state's millionaires include small business owners filing as S-Corporations, filers reporting one-time events such as the sale of a business or property; and joint filers, including two-income households with total combined earnings that exceed $1 million. 

Just for fun: What would you do with $1 million? Tell us in the comments section below.