Los Altos Hills is not only the wealthiest town in California, it’s the wealthiest in the entire country, according to a new analysis of median household income.
People who live in Los Altos Hills earn a median household income of nearly $244,000 per year, according to an analysis of new U.S. Census data by the financial website 24/7 Wall Street. That’s about four times more than the statewide median household income of $64,000.
It’s no wonder why: Los Altos Hills has long been an enclave for Silicon Valley’s wealthiest residents, notably Google CEO Sundar Pichai, former Cisco Systems CEO-turned venture investor John Chambers, Russian billionaire Yuri Milner, and a host of other entrepreneurs.
Los Altos Hills has no retail shops, post office, or library. There are very few sidewalks, and each new home is required to have at least a one-acre lot, to help preserve the town’s deliberately engineered rural feel.
Not surprisingly, that translates into higher real estate values. The median home value in Los Altos Hills now stands at more than $2 million, compared to the statewide median of $409,000. The town is one of only five in America where more than half of homes for sale cost more than $2 million.
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