New Canaan Ranks Eighth on Money's Top Earning Towns List

New Canaan — a frequent contender in — has landed another honor: eighth place on Money Magazine's 2011 top-earning towns list.

With a median income of $231,957 and median home price of $1,210,000, the magazine ranks New Canaan just ahead of neighbor Darien, CT ($227,195/$1,253,800) and just behind Winnetka, IL ($236,222/$990,000).

Topping the list — published in the September issue of the magazine — is Great Falls, Va., with a median family income of $367,660 and a median home price of $1,090,000.

Of New Canaan, the magazine writes "From historic Colonial era homes to contemporary estates, real estate here runs the gamut of luxury. For nature lovers who want to stray from their compounds, the boasts 40 acres of woodlands, marshes, orchards and trails. 's 400 acres offer a gorgeous venue for hiking, jogging, catching a play or touring an art gallery."

The numbers used to assemble the rankings are based on U.S. Census data and research by Onboard Informatics.