"Money is the new catnip!"
Got this in an email from the township today. That's one scary number for the median family income here in Lower Merion.
CNN Money, an online combination of CNN, Fortune Magazine and Money Magazine, has ranked Lower Merion Township near the top of its recently published "Top-earning Towns" list - part of its ongoing "Best Places to Live" series.
Next to a photo of a student entering Pembroke Hall on the campus of Bryn Mawr College, CNN Money puts Lower Merion's median family income at $153,309, and the Township's median home price at $553,498.
"Part of Pennsylvania's wealthy Main Line corridor that popped up along the rail line of the same name, Lower Merion got its start when railroad executives built massive summer homes here," the online newsmagazine wrote. "Today, it's an elite suburb of Philadelphia and dotted with colleges, including women's liberal arts school Bryn Mawr, which is also one of the township's largest employers."
Overall, Lower Merion is ranked 5th among the 25 national locations listed.
"We have a terrific community here in Lower Merion, and a wonderful quality of life," said Lower Merion Township Manager Doug Cleland. "Our residents already know that, of course, but it is nice to see the national recognition."
Ranked first in the survey was Bethesda, Md., an unincorporated community just outside Washington D.C.
"Residents bring lawn chairs and blankets to twilight concerts at the Bryn Mawr Gazebo all summer long and enjoy their pick of sledding hills in the winter months," CNN Money wrote about the Township. "The area's 682 acres of parkland and top-rated schools in the state form a well-rounded nest for well-heeled Pennsylvanians."
Lower Merion is the only Pennsylvania community ranked among the top 25. Ranking 2nd, 3rd and 4th, respectively, are the towns of Greenwich, Conn., Palo Alto, Calif. and Newport Beach, Calif.
Are these numbers a good thing or a bad thing? Discuss!