The Richest Small Town in Indiana is Only 1.5 Square Mile
Some small towns get a bad reputation, however, this small town in Indiana doesn't. In fact, it's the richest small town in the entire state.
Indiana towns are really a hot topic lately. When it comes to Indiana, we have no shortage of small towns with a few big cities scattered in there too. Everyone has small-town pride nowadays. Recently we have covered many of these towns in articles such as the worst small towns in Indiana, an Indiana small town that makes you feel like you are in a Hallmark movie, the best must-visit small town in Indiana, HGTV naming this Indiana town as the most charming in the state, and the most expensive place to live in Indiana.
Typically, small towns have the stereotype of not being too wealthy. These towns are packed full of hard-working blue-collar people. As someone from a small town in Indiana like that, I'm pretty proud of my upbringing. However, there are some small towns scattered throughout the country that are full of wealthy people. GOBankingRates analyzed U.S. Census Bureau income data in locations in every state with 500 to 15,000 households to determine the wealthiest small towns in America. So which small town in Indiana is the richest? Let's find out.
The Richest Small Town in Indiana
You might think that you have to live in a big city to have a better chance at wealth. However, according to this study from GOBankingRates, that's not necessarily true. When it comes to the richest small town in Indiana, look no further than Meridan Hills. The Town of Meridian Hills is a nice little residential neighborhood on the north side of Indianapolis. It's close enough to the big city for more job opportunities, fun, and play.
GOBankingRates says that the median income in Meridian Hills is $172,969. As Indianapolis grew around Meridian Hills many years ago, it closed in the town leaving no room for expansion. According to Meridian Hills' website, approximately 1800 residents live in the 715 homes in the 1.5 square mile Town of Meridian Hills. So, yeah, I would say that it's a pretty small town. While it's located right by Indianapolis, this little town is quiet and serene. Oh, and if living in an area like this sounds appealing, good luck finding a house. According to Living in Indianapolis:
Not only are the homes expensive (prices range from $500,000 to over $1M) there are few homes in the area to even be had. Of the limited housing options, there are rarely more than one or two (if any) on the market at any given time.
As you probably know, a lot of towns in that area are pretty wealthy, but none as much as Meridian Hills, according to the data. With the prices of everything in Indiana, it seems like most people live paycheck to paycheck, it would certainly be nice to try life at that median income, wouldn't it? Then again, since it is so close to Indianapolis, the cost of living in that area is probably a little higher than in other towns throughout the state.