Money in New York isn't just a number. It's a geography. You’ve probably heard people argue about where the real wealth lives—is it a glass tower in Hudson Yards or a sprawling estate in the Hamptons?
Scarsdale.
For 2026, the data confirms what locals have known for decades: this Westchester enclave isn't just wealthy; it's the richest city in New York and, quite frequently, the entire country. We aren't just talking about "comfortable" upper-middle-class living. We are talking about a mean household income that has officially cleared the $600,000 mark.
The Scarsdale Numbers: Why This Place is Different
Most people get it wrong. They think the "richest" place must be where the most expensive houses are. If that were the case, Sagaponack in the Hamptons would win every time with its $5.9 million median sale price.
But wealth is measured in two ways: what you own and what you make.
Scarsdale sits at the top because its residents are essentially an army of high-earning professionals. We're talking surgeons, hedge fund partners, and corporate lawyers who catch the 30-minute Metro-North train into Grand Central every morning. According to recent GOBankingRates data, the average household income here is $601,193. That's a staggering jump from even other wealthy suburbs.
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Rye, its neighbor in Westchester, often takes the number two spot. While Rye actually has higher average home values—pushing toward $1.9 million—Scarsdale’s sheer density of high-income earners keeps it in the gold medal position. It’s a specific kind of financial ecosystem.
It's Not Just About the Paycheck
Why do people park their money here? Honestly, it’s the schools.
Scarsdale High School is basically a brand name. People will pay a "tax" on their home price just to ensure their kids are in that district. It’s a cycle. High property taxes fund elite schools, which keep property values high, which attracts more high earners.
The architecture helps too. You won't find many "McMansions" here. Instead, it’s a sea of authentic Tudors and Colonials. It feels old-money, even if the person living inside just made their first ten million in fintech last year.
The Contenders: Who Else is in the Top 10?
If Scarsdale is the king, who's in the court? The list is heavily dominated by Westchester and Nassau County (Long Island).
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- Upper Brookville (Nassau): Often ties for the highest median income.
- Sands Point (Nassau): Think The Great Gatsby vibes.
- Old Westbury (Nassau): Massive estates, very private.
- Bronxville (Westchester): Tiny, walkable, and incredibly expensive.
- Plandome (Nassau): A quiet, waterfront powerhouse.
Interestingly, North Hills and Muttontown are also consistently in the mix. These aren't "cities" in the way Syracuse or Buffalo are. They are villages and towns. But in New York, the distinction between a "city" and a "town" is mostly legal jargon; for the person looking for the richest city in New York, these are the spots that matter.
Manhattan vs. The Suburbs: The Great Wealth Divide
There is a massive misconception that the richest people live in Manhattan.
Sorta.
Manhattan has the highest concentration of billionaires. If you look at "Billionaire’s Row" on 57th Street, the real estate prices are astronomical—sometimes $10,000 per square foot. However, Manhattan also has extreme income inequality. When you calculate the median or average for a whole neighborhood, the ultra-wealthy are balanced out by everyone else.
Suburbs like Scarsdale or Old Westbury don't have that "floor." Almost everyone living there is wealthy. There is no "low income" part of Scarsdale. This creates a higher average than even the swankiest parts of the Upper East Side or Tribeca.
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The Hamptons Factor
We have to talk about Sagaponack. If we were ranking by "most expensive zip code," Sagaponack (11962) wins. The median home price there is nearly $6 million.
But here’s the catch: many people in the Hamptons don't "earn" a traditional income there. It’s a secondary home. Scarsdale is a primary residence. People live there, work in the city, and pay New York State income tax on those $600k+ salaries. That's why Scarsdale consistently wears the crown for the richest city in New York when looking at Census and IRS data.
Is It Still Worth It?
Living in the wealthiest city comes with a price tag that goes beyond the mortgage. The property taxes in Westchester are some of the highest in the United States. It isn't uncommon for a modest-looking home to carry a $40,000 or $50,000 annual tax bill.
For some, it’s a status symbol. For others, it’s a pragmatic investment in their children's networking and education.
Actionable Insights for Navigating NY Wealth Data:
- Check the Metric: If you see a "richest" list, check if it's based on Median Household Income (Scarsdale wins) or Median Home Value (Sagaponack/Water Mill wins).
- Look at "Commuter Power": Wealth in NY is tied to the Metro-North and LIRR lines. The closer a high-end town is to a 35-minute express train, the more stable its property values tend to be.
- Don't Ignore Upstate: While the NYC suburbs dominate, look at places like Pittsford (near Rochester) or Skaneateles. They offer a "rich" lifestyle at a fraction of the Westchester entry price.
- Evaluate the "School Premium": If you're buying in these areas, you are buying a school seat. If you don't have kids, you might be overpaying for a service you aren't using.
Scarsdale’s position at the top seems secure for now. Even with the "work from home" shift, the proximity to Manhattan's power centers keeps the demand—and the paychecks—higher than anywhere else in the Empire State.