VA Small Town Boasts Median Income 3 Times More Than State Average

VIRGINIA — 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 Virginia is South Run. There, the median annual income is $238,456. That's compared to a statewide median income of $87,249 in 2023.

South Run is located in southern Fairfax County, bordered by Burke Lake Park to the northwest, Burke to the north, Newington Forest to the east and Crosspointe to the south.

To be considered middle class in Virginia, you must have an income of $58,165 to $174,498, according to GoBankingRates.

In April, the median price of a home sold in South Run was $1.12 million, which was down 4.1 percent compared to the previous year, according to a Redfin housing market report.

Despite the year-to-year drop in home prices, homes in South Run typically sold in 23 days and about 2 percent above the list price, according to Redfin. Highly desirable homes can sell for about $ percent above the list price and go pending within five days.

Redfin also gave the South Run housing market a score of 91, meaning that it was considered "most competitive" when compared to home sale prices in nearby communities:

• South Run, Virginia - Most Competitive (91)
• Washington, D.C. -Somewhat Competitive (49)
• Arlington, Virginia - Very Competitive (84)

In Arlington, homes sell for around list price and go pending in about 22 days, according to Redfin. In the District, average home sales are about 1 percent below the list price and stay on the market about 48 days before they go pending.

For its 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)

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