Lower Merion Income Among Highest in U.S., CNN Money Says

Though Lower Merion didn't make it into CNN Money's overall Top 100 list of best places to live, the community was ranked fifth in top-earning towns.

With a population of 58,618, Lower Merion has a median family income of $153,309 and a median home price of $553,498, according to CNN Money.

"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," wrote CNN Money. "Today, it's an elite suburb of Philadelphia and dotted with colleges, including women's liberal arts school , which is also one of the township's largest employers."

Lower Merion also got a shout-out for its top-ranked schools, 682 acres of parkland, and the .

“We have a terrific community here in Lower Merion, and a wonderful quality of life,” Lower Merion Township Manager Doug Cleland said in a press release. “Our residents already know that, of course, but it is nice to see the national recognition.”

The top four money-earners as named by CNN Money were: Bethesda, MD; Greenwich, CT; Palo Alto, CA; and Newport Beach, CA.