Report: $500K is now below average income in Atherton

Atherton tops Bloomberg's list of richest places, with an average household income of $525,000. Atherton tops Bloomberg's list of richest places, with an average household income of $525,000. Photo: Justin Sullivan/Getty Images Photo: Justin Sullivan/Getty Images Image 1 of / 22 Caption Close Report: $500K is now below average income in Atherton 1 / 22 Back to Gallery

In Atherton, the exceptionally rich town in San Mateo County, keeping up with the Joneses means raking in more than half a million every year.

According to Bloomberg’s Richest Places index, the average annual household income there is $525,000. It's the first community in the country to top the $500,000 mark since Bloomberg started keeping track in 2017.

You'll need that substantial a salary to afford to buy your way into Atherton — the median home sale price in the town was just over $7 million last year. On Zillow, the cheapest current listing is a 1,500-square-foot home for $2.5 million. There's also a home for sale 10 times that size — and more than 10 times that price, listed at $32 million.

Atherton is a small community of about 7,000 people. Most of its homes are gated and on large lots. The town's residents are 73% white, according to the U.S. Census Bureau. There are three public elementary schools in Atherton proper, two of which have A ratings on Niche. Two high schools are just outside the town, Woodside and Menlo-Atherton, which have A and A+ ratings, respectively.

When it comes to income, Hillsborough and Los Altos Hills aren't too far behind Atherton. Both towns had annual household incomes above $400,000, earning them the No. 3 and No. 5 spots on Bloomberg's list.

Alix Martichoux is an SFGATE digital editor. Read her latest stories and send her news tips at alix.martichoux@sfgate.com.