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How Many Millionaires Live in Arlington?

One in every 1,020 Arlington taxpayers reported income above $1 million in 2010.

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

...I'd be one of 42 taxpayers in Arlington 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 a millionaire filer for every 27 residents. 

Arlington's number of millionaire filers is ranked 118th out of 351 cities and towns, with one millionaire filer per every 1,020 residents. The average reported income for every millionaire filer was approximately $2.1 million.

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. 

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

George Erickson October 26, 2012 at 12:38 PM
I'd say the "caveats" make the report practically useless. George Erickson
Malcolm Hamilton October 26, 2012 at 12:47 PM
If you also counted people whose assets exceed $1 million, you would have a great many more millionaires in Arlington. The value of owned property (excluding mortgages), savings and investments, plus actual income, there are quite a few of us.
Wind Dummy 25 October 26, 2012 at 02:29 PM
What, is there another override brewing?
Susan Ruderman October 26, 2012 at 05:32 PM
I'm sure Whole Foods looked at this data before deciding to turn good ole Johnnies into another Whole Foods boutique...
Paul October 26, 2012 at 06:00 PM
This is THE most vapid, inane and unimportant topic EVER on the Patch...... who cares who is a millionaire .... WHAT is the POINT of bringing other people's wealth UP? With all the liberals from Commie Cambridge that have come into the town, like Liarwartha who is worth 14 million and makes $370,000 a year teaching ONE course at Harvard... plus her hubby who gets another 400,000 plus for teaching two courses there..... THOSE are the faux americans who "OH so want to help the poor" but wouldn't give their excrement to the crows!

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