Boxford Named Richest Small Town in Massachusetts

News Summary

Boxford, Massachusetts, has been recognized as the richest small town in the state, with a median annual income of $232,326, significantly surpassing the statewide average. This designation, based on 2023 data, highlights Boxford’s appealing rural atmosphere, luxurious real estate, and commitment to preserving its natural environment. The town’s economic standing reflects broader trends in small-town prosperity and community values, positioning Boxford as a model for other small municipalities aiming for similar affluence.

Boxford, Massachusetts has been recognized as the richest small town in the state, according to a recent survey by GoBankingRates. The town, located in Essex County just 25 miles north of Boston, boasts a remarkable median annual income of $232,326, which is significantly higher than the statewide median income of $99,858.

This impressive income statistic places Boxford as the 10th-richest small town in America. The ranking was based on 2023 income and household data sourced from the U.S. Census Bureau’s American Community Survey. GoBankingRates defines a “small town” as having a population between 500 and 15,000 households, and Boxford meets this criterion with a population of approximately 8,600 residents.

Boxford is characterized by its rural community atmosphere, featuring heavy forestation and minimal commercial development. The town is home to numerous scenic hiking trails, lakes, and ponds, making it an appealing destination for nature enthusiasts and outdoor activities. Moreover, Boxford has been recognized as a Tree City USA for 12 consecutive years, exemplifying its commitment to maintaining a healthy urban forest.

In addition to its high income levels, Boxford has an array of luxurious real estate options. Among the notable listings are a multi-million dollar 11,000-square-foot home priced at $3 million and a converted barn on the market for $2 million. These properties contribute to the town’s overall high income and reflect the affluence found within the community.

The recent survey excluded Alaska due to a lack of sufficient data, focusing instead on the continental United States. In identifying the nation’s wealthiest small towns, Boxford is joined by other affluent areas in the top five list. These rankings provide insights into economic disparities and showcase areas where residents enjoy higher-income lifestyles.

The wealth found in Boxford is indicative of broader economic trends impacting small towns in Massachusetts and across the nation. The town’s combination of natural beauty, low commercial development, and high household incomes creates a unique environment that attracts affluent residents. While small towns often face challenges related to economic growth and sustainability, Boxford’s prosperity illustrates the potential for small communities to flourish.

As Boxford continues to hold its title as the richest small town in Massachusetts, it raises questions about economic development and growth opportunities in smaller municipalities. The study sheds light on how communities can leverage their natural resources and appeal to higher-income households while maintaining their unique character and charm. Boxford stands as a prime example of how a small town can embody both natural beauty and economic strength.

In conclusion, Boxford’s designation as the richest small town is not just a reflection of its high median income, but also its appealing lifestyle and community values. The latest survey not only highlights the town’s economic standing but also serves as a potential model for other small towns aspiring to similar levels of prosperity.

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