{"id":9913,"date":"2011-08-07T21:08:36","date_gmt":"2011-08-07T21:08:36","guid":{"rendered":""},"modified":"2011-08-07T21:08:36","modified_gmt":"2011-08-07T21:08:36","slug":"Where-The-Rich-Are-Moving","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=9913","title":{"rendered":"Where The Rich Are Moving"},"content":{"rendered":"

The nation’s wealthiest homebuyers are moving to towns with humble beginnings that have bloomed into millionaire enclaves, and also to a handful of communities that were planned from the start with affluent residents in mind. <\/em><\/p>\n

To determine which towns made up this list, Zillow.com analyzed data for towns with populations over 10,000 where the median home value is over a million, and where they saw the biggest increase in percentage of total home sales. <\/p>\n

Rye, N.Y.<\/strong>
\nMedian home value: $1,059,596
\nIncrease of total home sales: 156%
\nPopulation: 15,651<\/p>\n

The city of Rye, NY\u2014not to be confused with Rye Town, NY, which actually has a larger population than Rye, the city\u2014was settled in 1660 following a treaty with the Mohegan Indians. Due to its location 25 miles from New York City, it\u2019s now a suburban bedroom community for commuters. Rye was named by Coldwell Banker as the third most expensive place in the U.S. to buy a home in 2010. <\/p>\n

Palos Verdes Estates, Calif.<\/strong>
\nMedian home value: $1,371,172
\nIncrease of total home sales: 116%
\nPopulation: 13,771<\/p>\n

Dating only back to just 1939, it\u2019s still the oldest of the four cities on the Palos Verdes Peninsula, and was designed by the Olmstead Brothers (sons of the Central Park mastermind), with 28% purposely reserved as open space. Palos Verdes Estates is known as one of the priciest places to buy a home in Southern California, with 14% of the male population comprised of top executives.<\/p>\n

Greenwich, Conn.<\/strong>
\nMedian home value: $1,069,506
\nIncrease of total home sales: 111%
\nPopulation: 62,077<\/p>\n

Greenwich, one of Connecticut\u2019s wealthiest towns, is an easy commute to New York, with a 40-50 minute train ride to the city on Metro North, but there are also numerous investment firms right in town. To that point, 24% of the town\u2019s males work in finance and insurance, whereas the top industries for women are educational, professional, scientific and technical services.<\/p>\n

Scarsdale, N.Y.<\/strong>
\nMedian home value: $1,144,858
\nIncrease of total home sales: 106%
\nPopulation: 17,969<\/p>\n

Founded in 1701, Scarsdale is known today as an upscale suburban community to New York City with a charming Tudor downtown village. Doctors, lawyers, and Wall Street professionals in investment and finance are heavily represented in the local workforce.<\/p>\n

Alamo, Calif.<\/strong>
\nMedian home value: $1,014,899
\nIncrease of total home sales: 85%
\nPopulation: 16,354<\/p>\n

An unincorporated community in the San Francisco Bay Area, Alamo had a post-war population boom, but retained its character with help from the Alamo Improvement Association. Now 50, the AIA has endeavored to preserve Alamo\u2019s identity as a semi-rural, low-density residential area, one where the next-door neighbors probably won\u2019t be too close and they could include horses.<\/p>\n

Darien, Conn.<\/strong>
\nMedian home value: $1,080,330
\nIncrease of total home sales: 76%
\nPopulation: 20,400<\/p>\n

One of the big three of Connecticut\u2019s wealthiest communities, Darien\u2019s denizens commute to Stamford and other local points or New York City (some via two Metro North stops). Its population began rising when it became a Gold Coast summer resort town for well-to-do New Yorkers following the Civil War, eventually transitioning to the year-round residential town it is today.<\/p>\n

Beverly Hills, Calif.<\/strong>
\nMedian home value: $1,884,079
\nIncrease of total home sales: 35%
\nPopulation: 35,229<\/p>\n

Most people are probably aware that Beverly Hills has a rich resident or two, so how about some fun facts? According to the city\u2019s website, \u201cThe City of Beverly Hills\u2019 operating budget of more than $300 million is comparable to the Gross National Product of the British Virgin Islands.\u201d This works out to $8,576 per resident.<\/p>\n

New Canaan, Conn.<\/strong>
\nMedian home value: $1,051,547
\nIncrease of total home sales: 65%
\nPopulation: 19,939<\/p>\n

New Canaan is another of the top three wealthiest towns in Connecticut, with 30% of its male residents working in finance and insurance. Two Metro North stations serve commuters making the hour-long trip to New York. The area was primarily agricultural until the Revolutionary war, after which the shoemaking industry took over. Like Darien, New Canaan first attracted New Yorkers as a place to summer, and eventually became a year-round place to live.<\/p>\n

Piedmont, Calif.<\/strong>
\nMedian home value: $1,089,268
\nIncrease of total home sales: 56%
\nPopulation: 10,837<\/p>\n

It started out with just seven houses in the 1880s, but by the 1920s this residential town surrounded by Oakland was known as the \u201cCity of Millionaires,\u201d with a higher concentration of them than anywhere else in America. Judging by its place on the list, it isn\u2019t lacking in millionaires today, either.<\/p>\n

Saratoga, Calif.<\/strong>
\nMedian home value: $1,429,665
\nIncrease of total home sales: 48%
\nPopulation: 30,641<\/p>\n

At the base of the Santa Cruz mountains in the Silicon Valley, this one-time frontier town turned resort town is now a semi-rural residential community with high-end boutiques, eateries, and wineries. It\u2019s a peaceful bedroom community for well-heeled Silicon Valley professionals.<\/p>\n

Newport Beach, Calif<\/strong>.
\nMedian home value: $1,085,178
\nIncrease of total home sales: 37%
\nPopulation: 75,208<\/p>\n

Located 55 miles south of Los Angeles and 10 miles from Santa Ana, Newport Beach is made up of numerous villages, each with its own flavor. It\u2019s got a 10-mile million-dollar coastline to boot\u2014National Resources Defense Council declared the Newport Beach one of the cleanest in the country.<\/p>\n

Cupertino, Calif.<\/strong>
\nMedian home value: $1,023,005
\nIncrease of total home sales: 34%
\nPopulation: 51,941<\/p>\n

In a suburban city that once cultivated vineyards of grapes, there is now an apple: Cupertino is the corporate headquarters of Apple. While Apple is the biggest employer with 21,600 as of 2009, other Silicon Valley corporations like HP, Symantec, IBM, Oracle, and NetManage are there as well.<\/p>\n

Hillsborough, Calif.<\/strong>
\nMedian home value: $2,142,892
\nIncrease of total home sales: 34%
\nPopulation:10,838<\/p>\n

Located 17 miles south of San Francisco on the peninsula, Hillsborough has only houses: no apartments, no condos. In an effort to preserve the stately nature of grand homes, the incorporated town regulates a minimum house size (which has shifted with different zoning laws) and a minimum lot size of one-half acre.<\/p>\n

Short Hills, N.J.<\/strong>
\nMedian home value: $1,078,121
\nIncrease of total home sales: 24%
\nPopulation: 12,888<\/p>\n

Short Hills is an unincorporated area in Millburn with origins as a planned community for nature lovers. The location was chosen for its commute to New York, which remains a major selling point for residents today. Short Hills is also known for its high-end mall including boutiques such as Dior, Cartier, and Chanel.<\/p>\n

Manhattan Beach, Calif.<\/strong>
\nMedian home value: $1,170,025
\nIncrease of total home sales: 24%
\nPopulation: 34,551<\/p>\n

Scenic Manhattan Beach is located on the Santa Monica Bay a very commutable 19 miles southwest of Los Angeles. It\u2019s the priciest of L.A.\u2019s beach communities, including Hermosa and Redondo Beach. Some 33% of residents work in fields of professional, scientific, and technical services.
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