The Richest Town in Each State
21. Franklin, Michigan
> Town median household income: $139,000
> State median household income: $48,411
> Town population: 3,095
A typical household in Franklin earned $139,000 annually, the highest income in the state and $120,792 greater than the median income in Michigan’s poorest town, Benton Harbor. The state is one of only 10 where the income gap between the richest town and the poorest town is greater than $100,000. More than 72% of Michigan households were owned by their occupants, the fifth highest rate of all states. In Franklin, the homeownership rate was far higher at 95%.
22. Victoria, Minnesota
> Town median household income: $122,171
> State median household income: $59,836
> Town population: 7,623
Nearly 92% of Victoria households were owned by their occupants, well above Minnesota’s homeownership rate of 72.5%, which itself was the second highest state rate. Nearly 100% of area adults had at least a high school diploma, and nearly 60% had a bachelor’s degree, each far higher than both the state and national rates.
23. Madison, Mississippi
> Town median household income: $99,124
> State median household income: $39,031
> Town population: 24,578
Mississippians as a whole are the poorest state residents in the nation, with a median household income of less than $40,000. Madison households, however, are quite wealthy. The median annual household income in the town was nearly $100,000. The difference in poverty was also stark. While Mississippi led the nation with a 22.7% poverty rate, less than 5% of Madison residents lived in poverty.
24. Des Peres, Missouri
> Town median household income: $121,471
> State median household income: $47,380
> Town population: 8,403
Located just over 15 miles outside of St. Louis, Des Peres is the richest town in Missouri. The median household income in Des Peres was more than double the median household income statewide. Also, 67.9% of Des Peres adult residents had a bachelor’s degree or higher, again more than double the 26.2% of adults statewide who had attained such education.
25. Sidney, Montana
> Town median household income: $54,609
> State median household income: $46,230
> Town population: 5,608
The median household income in Sidney was only $8,379 more than the median household income in all of Montana, one of the lowest such differences in the country. Similarly, at $15,594, Montana had the smallest income gap in the country between the median household incomes in its richest town and its poorest town.