Two Greater-Boston communities named top-earning towns in the country
The real estate market in the Greater Boston area is heating up once again. With rents exponentially higher than they have been in the past months, and low vacancy rates creating bidding wars, many prospective homebuyers are left waiting for new listings to hit the market. Jason Pramas of Open Media Boston credits this activity to upper-middle-class empty nesters looking to move back to the city from the suburbs, as well as a lot of fairly well-heeled students from all over the world renting and attending local schools. Either way, these transactions have caused many more homebuyers to consider houses for sale in Boston and neighboring communities, rather than rent apartments.
Recently, Yahoo! ranked America's top-earning towns to highlight communities nationwide that have withstood the recession and excelled financially. Unsurprisingly, two communities in the Bay State made the list, and both areas are close to the Hub.
Newton ranked number 7 on Yahoo!'s top 10 list
Newton is situated just outside Boston, and the area is home to approximately 84,655 people. Currently, the median home price is $650,000, which may seem like a lot until you factor in amenities close by. For starters, Newton is a series of 13 villages, each with its own pocket of shops. These neighborhoods are connected by a network of tree-lined streets and golf courses. In addition to the town's picturesque views and scenery, Newton is also home to one of the state's largest libraries and an excellent school district, making it a perfect place to raise a family.
Brookline came in at number 9 on Yahoo!'s top 10 list
Brookline also found itself on this year's list of top-earning towns, and the community features a median home price of $565,000. Currently, the town is home to around 59,142 residents with a median family income of $139,756. Similar to Newton, Brookline has a reputation as one of the top-notch suburbs of Boston, and its education system is a contributing factor. While Brookline is surrounded by Boston, it has retained its independence, and offers its residents access to one of the oldest country clubs in the United States, a working farm that provides local produce and many unique theaters. Additionally, influential figures like John F. Kennedy and entertainers like Conan O'Brien were both born and raised in this community.