Chestnut Hill is one of the most exclusive housing markets in the country, according to a new analysis from HomeUnion.
With an over $120,000 median household income placing in the 75 percentile and an average rent of around $4,000, Chestnut Hill has established itself as one of the most lavish areas in the country.
Steve Hovland, the director of research for HomeUnion, explained that the study serves as an example for the ever-changing tastes of Millennials.
“Our list of the high-priced neighborhoods and submarkets for renters-by-choice indicates an ongoing shift in preferences among an affluent portion of the U.S. population,” Howland said. “An increasing number of people are renters-by-choice, opting to live within walking distance or a short commute of their office building, workplace, university, community services, or nightlife.”
Check out the full list below to discover some of the wealthiest markets around the country:
|Metro Area||Submarket, City or Neighborhood||Median Household Income||Average SFR Rent||Share of Renters in Market|
|San Francisco||FiDi/Rincon Hill||$151,879||$4,980||34%|
|Northern New Jersey||Newport-Jersey City||$143,846||$2,910||46%|
|Los Angeles||Manhattan Beach||$139,898||$6,323||25%|
|San Diego||Camel Valley||$126,841||$3,988||25%|
|Orange County||Corona Del Mar||$119,091||$5,109||26%|
|Dallas/Fort Worth||Highland Park||$108,973||$4,268||29%|
|Denver||Lone Tree, CO||$99,398||$3,019||25%|
Photo Credit: Haeg, Creative Commons Attribution-Share Alike 2.0 Generic, https://commons.wikimedia.org/wiki/File:Boston_College_with_Boston_skyline.jpg