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slides: The 25 Wealthiest Rhode Island Neighborhoods

Monday, September 09, 2013

 

Where are Rhode Island's richest neighborhoods? A look at median family incomes -- by census tract -- shed light on the inquiry.

When you think of enclaves of wealth in Rhode Island, spots that might come to mind might include exclusive beach side addresses, historic East Side properties, or Newport and its mansions.

You may be surprised that just two of the three made the list of the 25 wealthiest neighborhoods in the state, as broken down by median family income by census tract.

Looking at data available on the Providence Plan's website, the median family income for Rhode Islanders between 2006 and 2010 was $70,663, up from $52,781 at the previous census count in 2010.

The top 25 wealthiest areas include urban, suburban, and rural locales, all of which have median family incomes of over $100,000.

See the Top 25 Wealthiest Neighborhoods in Rhode Island BELOW.

GoLocal ranked the areas according to median family income but also looked at median household income.

According to the U.S. Census definition, a family "consists of two or more people (one of whom is the householder) related by birth, marriage, or adoption residing in the same housing unit."

Also reported by ProvPlan and GoLocalProv were data for median household incomes, which the Census explains as follows. "A household consists of all people who occupy a housing unit regardless of relationship. A household may consist of a person living alone or multiple unrelated individuals or families living together."

Some areas saw significant jumps in median family incomes from 2000, including parts of Westerly as well as Little Compton, with both went from medium incomes in the $60,000 range to over $100,000 in the ten year period.

Looking at the Lists

An aerial photo of Little Compton. Photo: Residential Properties

Recently, GoLocal looked at the 25 Smartest Neighborhoods in the state. While a number of those neighborhoods were represented in the high income list, some of the areas with the highest concentration of master's degrees, including parts of Middletown, Jamestown, and Newport, did not top the wealth ranks by median family income.

And the hottest real estate markets currently in the state contained a number of neighborhoods with the highest median family incomes.

So just where are Rhode Island's pockets of wealth located -- and how to they stack up against each other? Take a peek at what you thought you may have already known. You might be surprised by the results.

Census tracts ranked on the list are highlighted in the squares in YELLOW 

 

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