Bloomberg created an index that judges the richest small towns in America and Summit, Utah came out on top. We beat out areas like Jackson Hole, Steamboat, and Martha’s Vineyard.
The index is based on geographic regions with between 10,000 and 50,000 people, the share of households making more than $200,000 or more, median home values, and the share of homes worth more than $1,000,000.
According to Bloomberg we have a median household income of $83,000, 14.4% of our households make more than $200,000, and 13% of our homes are worth more than a million dollars. Bloomberg attributes this to both our ski slopes and the fact that tech giants like Ebay, Adobe, and a plethora of startups are down in the valley (and this is where their high paid employees live).
What’s also interesting is that Heber is #8. I somewhat tend to think of Heber as a second-class citizen (unfairly, of course). Yet, I hear more and more about a lot of high-end tourist destinations being built there. This seems to be confirmed that a number of wealthy people have decided to make it their home as well.