The following is an excerpt from Wei Lu and Vincent Del Giudice | March 29, 2017 | Bloomberg.com |
Finding big money in Small Town U.S.A. is as simple as looking toward the mountains of the Old West.
America’s three wealthiest small communities are located in the western U.S. and tower at elevations exceeding a mile -- with real estate valuations some would consider even loftier.
Topping the list, and in this case appropriately named, is Summit Park, Utah, and its surroundings. One in six homes in the so-called micropolitan area is worth at least $1 million, with more than half of those in Park City and most of the rest in Summit Park, Snyderville and Silver Summit collectively, according to the Bloomberg Index of Affluent Micro Areas. Some 43 percent of the area’s homes are considered vacation properties.
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