How Many Millionaires Live in Plymouth?

One in every 2,258 Plymouth taxpayers reported income more than $1 million in 2010.

Like the Barenaked Ladies said in their hit song, If I Had Million Dollars...

...I'd be one of 25 taxpayers in Plymouth who made at least a million dollars in 2010."

OK, so those weren't the actual lyrics of the song. But they are the actual numbers in a searchable database in the Boston Business Journal.

Greater Boston’s suburbs to the west are among the state’s wealthiest, the Boston Business Journal reported, citing state tax data on millionaire filers in 2010. Weston tops the list with one millionaire filer for every 27 residents. 

Plymouth's number of millionaire filers is ranked 173rd out of 351 cities and towns in the state, with one millionaire filer per every 2,258 residents. The average reported income for every millionaire filer was approximately $1.73 million. 

Plymouth's ranks is well below Duxbury's rank of 31 with 83 millionaires. Among Plymouth's neighbors, Wareham and Middleborough have four each, Kingston has 10, Sandwich has 12, and Bourne has nine.

There are some caveats that the Boston Business Journal noted, however. The state's millionaires include small business owners filing as S-Corporations, filers reporting one-time events such as the sale of a business or property; and joint filers, including two-income households with total combined earnings that exceed $1 million. 

Rank 173 City/town Plymouth County PLYMOUTH 2010 Population 56,468 Avg. single-family state tax bill (2012) $4,274 Land area (square miles) 96 Number of millionaire filers 25 Residents per millionaire filers 2,258 Total income among millionaire filers ('000s) $43,259 Average income per millionaire filer ('000s) $1,730

Source: Boston Business Journal

Just for fun: what would you do with $1 million? Tell us in the comments.

malcolm nichols October 24, 2012 at 01:53 PM
What does income have to do with your net worth???
MaryBeth Mills Muldowney October 24, 2012 at 05:54 PM
My feelings as well income and net worth are very different. There are many more residents of plymouth who are millionaires due to net worth. Remember it is not what you make. It is what you keep!


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