Chestnut Hill among the nation’s 20 most exclusive housing markets

by Drake Pena

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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
New York TriBeCa $204,822 $8,762 38%
San Francisco FiDi/Rincon Hill $151,879 $4,980 34%
Northern New Jersey Newport-Jersey City $143,846 $2,910 46%
Washington, DC Herndon $142,488 $2,462 27%
Los Angeles Manhattan Beach $139,898 $6,323 25%
San Jose Cupertino $129,371 $4,384 27%
San Diego Camel Valley $126,841 $3,988 25%
Boston Chestnut Hill $120,993 $4,070 25%
Oakland Rockridge $120,236 $4,670 26%
Orange County Corona Del Mar $119,091 $5,109 26%
Dallas/Fort Worth Highland Park $108,973 $4,268 29%
Philadelphia Bryn Mawr $104,337 $2,889 26%
Seattle Kirkland $103,962 $2,793 26%
Atlanta Buckhead Heights $100,662 $2,307 36%
Raleigh Carey, NC $99,489 $1,979 25%
Denver Lone Tree, CO $99,398 $3,019 25%
Chicago Chicago Loop $97,645 $2,275 40%
Houston Rice Military $97,546 $2,858 33%
Orlando Baldwin Park $95,292 $2,553 34%
Nashville Franklin $94,458 $2,534 26%

Photo Credit: Haeg, Creative Commons Attribution-Share Alike 2.0 Generic, https://commons.wikimedia.org/wiki/File:Boston_College_with_Boston_skyline.jpg

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