The typical American household earned $55,322 in 2016, roughly $4,000 higher than 2009’s median income of $51,425. In a number of small towns throughout the country, more than half of households earn more than three times the national median. And incomes in these towns are growing faster than they are nationwide.
To determine America’s richest towns, 24/7 Wall St. reviewed household income data from the U.S. Census Bureau’s American Community Survey in every American town with a population between 1,000 and 25,000. For comparison purposes, boroughs, census designated places, cities, towns, and villages were all considered.
The recovery from the Great Recession has largely benefitted the wealthiest households the most. While the share of aggregate income earned by the poorest 80% of households fell from 49.9% in 2010 to 48.6% in 2016, the share of income earned by the wealthiest fifth of households rose from 50.2% to 51.4%. In the majority of the wealthiest towns with available data, the median household income rose between 2009 and 2016 more than it did for the typical American household.