Wealth
Both the Official AENGLC Wealth Value and the CPR AENGLC Wealth Value show Greenwich as having the highest wealth value in Connecticut at over $430,000 per person. The AENGLC is based on the value of residential and commercial real estate and measures the town's tax base available to pay for public education(see Conn. Dep of Ed). It is not a measure of the personal wealth of individual residents. New Canaan is the wealthiest town in Connecticut, with a per capita income of $82,049, second is Darien at $77,519 and Greenwich third at $74,346 per the 2000 Census.
Greenwich was the highest income place with a population of 50,000 or more in 2000. However, using the list of the 100 richest places in the United States with at least 1,000 households yields a different result. This is the most common list used for referring to the richest communities in the country, as it eliminates any places with unsubstantial populations. On this list Greenwich ranks 56th after New Canaan at 32nd, Darien at 44th, and Weston at 55th.
The median price for a single-family home in town was $1.7 million in 2006, when about 140 properties sold for $5 million or more, according to Prudential Connecticut Realty. In 2007, the highest asking prices for residential property in town were $39.5 million for the 76-acre (310,000 m2) estate of actor Mel Gibson on Old Mill Road, $19.7 million for a 13,000-square-foot (1,200 m2) mansion on 8.7 acres (35,000 m2) with a private lake, and $38 million for an estate with formal gardens and a greenhouse the size of a cottage.
Read more about this topic: Greenwich, Connecticut
Famous quotes containing the word wealth:
“The first wealth is health.”
—Ralph Waldo Emerson (1803–1882)
“Power is not of a man. Wealth does not center in the person of the wealthy. Celebrity is not inherent in any personality. To be celebrated, to be wealthy, to have power requires access to major institutions.”
—C. Wright Mills (1916–1962)
“It must not be thought that the cowardly feeling of caution and uneasy self-preservation is innate in the English character. It is the consequence of a corpulence derived from wealth and of the training of all thoughts and passions for acquisitiveness.”
—Alexander Herzen (1812–1870)