The Richest Small Town in Maine Right Now
Editor's note: This article was written by a Townsquare Media Northern New England contributor and may contain the individual's views, opinions, or personal experiences.
We all dream about it. That day when money is not a worry. Where you can do anything and everything you while living in the most extravagant house and driving the most luxurious car. For most of us in Maine, that's simply a fantasy. But for the residents of one particular small town, life is awfully good.
Go Banking Rates put together a list of the 'Richest Small Towns in Every State'. They've deemed Falmouth Foreside as Maine's richest small town. Go Banking Rates used U.S. Census Bureau data with towns and communities that had 500 to 15,000 households, and then averaged the incomes together.
The results for Falmouth Foreside? The median income rolls in at $175,248. That's an eye-popping average income. However, it still only ranks in the middle on the Go Banking Rates list amongst small towns in America. The highest median small town income in New England belongs to Noroton, Connecticut, where households average $248,125.
There's a little extra nuance to choosing Falmouth Foreside as Maine's richest small town. The nuance is that Falmouth Foreside technically isn't a town. For Census purposes, it's considered a CDP or Census Designated Place. There are many CDP's nationwide, but few in Maine.
The idea behind a CDP is to get a better sense of the demographics of a concentrated populated area. The town of Falmouth is spread out acreage-wise, but the Census noticed a concentration of population in the Foreside neighborhood. Hence, Falmouth Foreside was given a CDP designation and can be considered its own small town for Census purposes.