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Want to know where Connecticut's 17 billionaires and 122,000 millionaires live? Look here.
That's right, folks, the Gold Coast didn't get its name because gold was found on Connecticut's beaches. Matter of fact, it's because there are a bunch of well-to-do people that call this New England state home. There's a reason this state is one of the richest in the country. And if you want to know where these wealthy Connecticutors live, take a look below at HomeSnacks' list of the richest places in The Constitution State for 2020.
The richest places in Connecticut are a lot like expensive diamonds; but, don't get it twisted, they are not by any means the diamonds in the rough. Heck, the competition for the top ten richest places in The Constitution State was quite fierce, so to narrow down our list we decided to look at the 21 Connecticut cities with at least 9,000 residents. We also looked at things that make rich people happy: fellow neighbors with high median income levels, world class educational opportunities, low crime, and posh amenities.
We're just going to leave this right here. If you want to live in one of Connecticut's richest places, you're going to need to make upwards of $57,886/year. But it's worth it because Connecticut has some of the best opportunities for employment with the state's overall unemployment rate holding steady with the national rate. Not to mention, if you're looking to get your kid into a university that produces more millionaires than the Connecticut Lottery, there's the University of Connecticut in Storrs and Yale University in New Haven.
So, want to know where it's just as difficult to 'Keep up with the Connecticuters' as it is The Kardashians? Keep reading.
At the end of the day, here's the set of the 10 richest places in Connecticut for 2020:
- Shelton (Photos | Homes For Sale)
- Milford (Photos | Homes For Sale)
- Stamford (Photos | Homes For Sale)
- Naugatuck (Photos | Homes For Sale)
- Middletown (Photos | Homes For Sale)
- Bristol (Photos | Homes For Sale)
- Norwalk (Photos | Homes For Sale)
- Torrington (Photos | Homes For Sale)
- Danbury (Photos | Homes For Sale)
- Meriden (Photos | Homes For Sale)
With fancy city names like Windsor and Danbury, Connecticut seems to ooze wealth around every corner. Unfortunately, however, there can be only one Connecticut place that's worthy of the HomeSnacks crown.
So, what is the richest place in Connecticut? Well, according to the latest Census data, the richest place in The Nutmeg State is Shelton.
To see the other wealthy places that made this list, take a look below. And if you have some time on your hands, take a look at how the other 99% live in Connecticut's poorest places.
Rich people not your cup of tea? Feel free to check out some more reading about Connecticut:
The 10 Richest Cities In Connecticut For 2020
Shelton is a city in Fairfield County, Connecticut, United States. The population was 39,559 at the 2010 census.
Milford is a Coterminous municipality within Coastal Connecticut and New Haven County, Connecticut, between Bridgeport, Connecticut and New Haven, Connecticut. The population was 51,271 at the 2010 census. The city includes the borough of Woodmont and the village of Devon. Milford is part of the New York-Newark, NY-NJ-CT-PA Combined Statistical Area. It is the headquarters of the mega business Subway
Stamford is a city in Fairfield County, Connecticut, United States. According to the 2010 census, the population of the city is 122,643. As of July 1, 2014, according to the Census Bureau, the population of Stamford had risen to 128,278, making it the third-largest city in the state and the seventh-largest city in New England. Approximately 30 miles from Manhattan, Stamford is in the Bridgeport-Stamford-Norwalk Metro area which is a part of the Greater New York metropolitan area.
Naugatuck is a consolidated borough and town in New Haven County, Connecticut, United States. The town spans both sides of the Naugatuck River just south of Waterbury, and includes the communities of Union City on the east side of the river, which has its own post office, Straitsville on the southeast, and Millville on the west. As of the 2010 census, Naugatuck had a population of 31,862.
Middletown is a city located in Middlesex County, Connecticut, along the Connecticut River, in the central part of the state, 16 miles south of Hartford. In 1650, it was incorporated as a town under its original Indian name, Mattabeseck. It received its present name in 1653. Middletown was included within Hartford County upon its creation on May 10, 1666. In 1784, the central settlement was incorporated as a city distinct from the town. Both were included within newly formed Middlesex County in May 1785. In 1923, the City of Middletown was consolidated with the Town, making the city limits of the city quite extensive.
Norwalk, is a U.S city located in southwestern Connecticut, in southern Fairfield County, on the northern shore of Long Island Sound. Norwalk is included statistically within both the New York-Newark, NY-NJ-CT-PA Combined Statistical Area as well as the Bridgeport-Stamford-Norwalk, CT Metropolitan Statistical Area.
Torrington is the largest city in Litchfield County, Connecticut and the Litchfield Hills region. It is also the core city of the largest micropolitan area in the United States. The city population was 36,383 according to the 2010 census.
Danbury is a city in northern Fairfield County, Connecticut, United States, located along the Still River approximately 70 miles northeast of New York's city center. Danbury's population at the 2010 census was 80,893. Danbury is the fourth most populous city in Fairfield County, and seventh among Connecticut cities. The city is within the New York combined statistical area and Bridgeport metropolitan area.
Meriden is a city in New Haven County, Connecticut, United States, located halfway between the regional cities of New Haven and Hartford. In 2010, the population of the city was 60,868.
How We Determined The Richest Places In Connecticut For 2020
The first thing that comes to most people's minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.
However, we don't believe that one statistic wholly encompasses what it means to be one of the "richest places". So we looked at this set of criteria from the newly released 2014-2018 American Community Survey:
- Poverty Level
- Median Household Income
- Unemployment Rate
Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.
After we collected the data for all 21 places with more than 9,000 people in Connecticut, we ranked each place from 1 to 21 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a "Rich Score" with the place having the lowest overall Rich Score, Shelton, crowned the "Richest City In Connecticut For 2020". You can download the data here.
You can learn more about the top ten below or skip to the end to see the rankings for all 21 places.
There You Have It - The Wealthiest Places In Connecticut For 2020
Like we said earlier, when we set out to identify the richest places in Connecticut, we weren't sure what we'd encounter, but it ended up being some of the best places to live in Connecticut.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you're curious enough, here are the poorest cities in Connecticut, according to data:
2nd Poorest: Waterbury
3rd Poorest: New London
For more Connecticut reading, check out:
- Safest Places In Connecticut
- Best Places To Raise A Family In Connecticut
- Worst Places To Live In Connecticut
Detailed List Of The Richest Cities In Connecticut