Peachtree Corners is considered to be affluent for several reasons, including its high median household income, home values, and education level.
High median household income: The median household income in Peachtree Corners is $101,205, which is significantly higher than the national median household income of $68,703 (according to the U.S. Census Bureau, 2019 American Community Survey). This means that most households in Peachtree Corners have a higher than average disposable income, making them financially comfortable. With more disposable income, residents are able to afford a higher standard of living, including better quality housing, education, and healthcare, among other things. The high median household income in Peachtree Corners is reflected in the local economy in several ways.
The Forum on Peachtree Parkway, for example, is an outdoor shopping center that features high-end retail brands such as Apple, Williams-Sonoma, and Pottery Barn. In addition to retail, the city has several high-end restaurants, such as Noble Fin and Ba Bellies, that offer fine dining experiences with a focus on fresh, locally sourced ingredients. These businesses cater to the affluent population in Peachtree Corners, who have the disposable income to spend on luxury goods and experiences.
High home values: The average home value in Peachtree Corners is $426,000 (according to Zillow as of March 2023), which is significantly higher than the national average home value of $310,000. This means that the majority of residents in Peachtree Corners own high-value properties, which adds to their overall wealth. Owning a high-value property can also provide residents with additional financial benefits, such as the ability to borrow against the equity in their home.
Peachtree Corners has a range of high-value homes, from sprawling estates to custom-built homes with extensive amenities. For example, Neely Farm is a gated community in Peachtree Corners that features large, luxurious homes on spacious lots with access to amenities such as a clubhouse, swimming pool, and tennis courts. Similarly, Spalding Corners is a gated community that features custom-built homes on large lots, many of which have features such as media rooms, wine cellars, and outdoor kitchens. These homes cater to the affluent population in Peachtree Corners, who are willing to pay a premium for luxury homes with extensive amenities and high-quality finishes.
High education level: Peachtree Corners has a highly educated population, with over 60% of residents holding a bachelor’s degree or higher (according to the U.S. Census Bureau, 2019 American Community Survey). This means that many residents work in high-paying, professional jobs that require advanced degrees or specialized skills. The high education level of the population also contributes to the overall culture and community of Peachtree Corners, with a strong emphasis on intellectual pursuits and a desire for lifelong learning.
The emphasis on education in Peachtree Corners is reflected in the quality of the local schools. The Gwinnett County Public Schools system, which serves Peachtree Corners, is one of the largest and most highly regarded school districts in Georgia. Peachtree Corners is home to several highly rated public schools, including Simpson Elementary School, Pinckneyville Middle School, and Norcross High School. These schools provide excellent education opportunities for students and are a draw for families who value education. In addition to public schools, the city has several private schools, such as Wesleyan School, that offer high-quality education to students.
In addition to these factors, Peachtree Corners also has a thriving economy and business community. The city is home to several major corporations and small businesses, which provide residents with a range of job opportunities and contribute to the overall economic prosperity of the community. The city also has excellent schools, parks, and recreational facilities, which further add to the high quality of life enjoyed by residents.
Here are some specific examples why Peachtree Corners is considered an affluent community:
Low unemployment rate
Peachtree Corners has a low unemployment rate, which is a reflection of the city’s strong economy. According to the U.S. Bureau of Labor Statistics, the unemployment rate in Peachtree Corners was just 3.6% as of January 2023, which is significantly lower than the national average. The city has a diverse range of industries, including technology, healthcare, and financial services, which provide employment opportunities for residents. Many of these jobs are high-paying and require specialized skills, which contributes to the overall affluence of the community.
High quality of life
Peachtree Corners offers a high quality of life for residents, with access to parks, trails, and other recreational amenities. The city has several parks, including Jones Bridge Park and Simpsonwood Park, which offer walking trails, playgrounds, and sports fields. Peachtree Corners is also home to the Peachtree Corners Town Center, which features a variety of shops, restaurants, and entertainment options. Additionally, the city has a strong sense of community, with regular events and activities that bring residents together.
Strong property values
In addition to high home values, Peachtree Corners has strong property values overall. According to Zillow, the median home value in Peachtree Corners was $476,700 as of February 2023, which is significantly higher than the national median home value of $314,400. This indicates that properties in Peachtree Corners are highly sought after, and that the city’s real estate market is strong. Strong property values contribute to the overall affluence of the community, as homeowners have significant assets that can appreciate over time.
Overall, these examples demonstrate how the high median household income, home values, and education level in Peachtree Corners are reflected in the local economy, housing market, and education system. The city’s affluent population has access to high-end retail and dining options, luxury homes with extensive amenities, and excellent education opportunities. These factors contribute to the overall affluence and high quality of life enjoyed by residents of Peachtree Corners. Also, the city’s low unemployment rate, high quality of life, and strong property values are additional factors that contribute to its overall affluence and desirability as a place to live.