The typical American household income was $57,652 in 2017, more than $6,000 higher than 2009’s median income of $51,425. Incomes have risen for the majority of households since the Great Recession, but as income inequality increased across the country, some of the richest places in the country have gotten even wealthier.
Some small towns and suburbs are home to high amounts of concentrated wealth. In these places, the typical household has an income that is three times, and occasionally even four times, that of the national median of $57,652.
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 of between 1,000 and 25,000. Boroughs, census designated places, cities, towns, and villages were all considered.
Education is one of the largest determinants of income. Individuals with a college education are much more likely to work in one of the nation’s highest-paying jobs, and areas with higher educational attainment are more likely to attract advanced industry and commercial activity. In all of the 34 richest towns, the share of adults with a bachelor’s degree is at least double the national figure of 30.9%.
Extreme wealth tends to be much more common in the richest states in the country. And while there are wealthy towns all across the country (these are the richest town in each state), the very richest can be found in just a few states. The 34 towns on this list can be found in just 11 states.
To determine America’s poorest towns, 24/7 Wall St. reviewed five-year household income data from the U.S. Census Bureau’s American Community Survey in every American town with a population of between 1,000 and 25,000. Boroughs, census designated places, cities, towns, and villages were all considered. We excluded towns for which the margin of error at 90% confidence was greater than 10% of either the median household income or the population. Poverty rates, median home values, and the percentage of adults with at least a bachelor’s degree also came from the ACS and are also five-year estimates through 2017.