Bloomberg lists Boca Grande in top 10 highest gross income list

March 15, 2019
By Marcy Shortuse

■ BY MARCY SHORTUSE
Boca Grande has reached a new milestone recently, and it is quite impressive: The village has been named No.9 in a list of the top 20 zip codes by average adjusted gross income on the Bloomberg 2019 “Ultimate Zip Codes” list.
Sandwiched between Los Angeles at No.8 and Kenilworth, Ill. at No.10, Boca Grande’s listing on the bar graph shows an average income of $773,500 for islanders.
The analysis shows that Boca Grande, New York City, Chicago, Houston and Newport Beach, Calif. are first-timers on this list. Other Florida zip codes include Naples, Captiva, Longboat Key, Vero Beach and, of course, Miami Beach/Fisher Island. Palm Beach moved down a spot on the list from last year, from No.3 to No. 4.
The information is “accredited to the Bloomberg analysis” of 2016 IRS data and the U.S. census.
Boca Grande    is no stranger to lists featuring top earners. In 2016 we were listed as No.2 in Florida on the wealthiest zip codes list generated by the Environmental Systems Research Institute. Last year CNBC reported that Boca Grande had the zip code with the state’s most expensive zip (according to GO Baking Rates generated by median home value and mortgage data from Zillow). Their ratings for weath exclusivity are based on the 50-30-20 rules: 50 percent of one’s income to necessities; 30 percent to noncompulsory spending and 20 percent to savings.
Using that system of determining wealth – in conjunction with the average median home price on the island – Boca Grande hit the top spot in 2018.