( KRON ) — The richest town in California is located on the Bay Area’s Peninsula, according to data compiled by Nexstar Media Wire .
The study showed that Hillsborough is the state’s richest town with a median household income north of $250,000. That figure is 232.7% more than the average American household, according to the study. For comparison, in Bar Nunn, Wyo., which the study determined to be Wyoming’s richest town, the median household income is $104,028.
Most households in Hillsborough are well-off, as data shows 69.6% earn more than $200,000 annually.
Tony’s Pizza in SF cracks top 10 best in the world list
Hillsborough’s wealth shows off in benefits for its population. Its unemployment rate is just 5.4%, its percentage of families below the poverty level is 3.1, and 98.8% of Hillsborough residents have health insurance.
The town was established in 1910 and was occupied in its early years by gold rushers. In 1953, it established a minimum lot size of one-half acre to maintain a rural feel.