Special Report

Richest City in Every State

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Massachusetts: Newton
> Median household income: $150,106 (state: $85,843)
> Households earning more than $200,000: 37.8% (state: 14.6%)
> Median home value: $944,200 (state: $418,600)
> Adults with a bachelor’s degree: 81.1% (state: 45.0%)
> 2019 unemployment rate: 1.9% (state: 3.9%)
> Population: 88,411

Newton, Massachusetts, is a Boston suburb of about 88,000 residents. With a median household income of $150,106, it is the wealthiest city in the state. Incomes tend to rise with educational attainment, and in Newton, 81.1% of adults have a bachelor’s degree or higher, compared to 45.0% of adults across the state and 33.1% of adults nationwide.

Newton residents are also far less likely than the typical American to face serious financial trouble. Just 5.6% of the local population lives below the poverty line, compared to 9.4% of state residents and 12.3% of the U.S. population.

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Michigan: Troy
> Median household income: $110,909 (state: $59,584)
> Households earning more than $200,000: 16.5% (state: 5.7%)
> Median home value: $343,500 (state: $169,600)
> Adults with a bachelor’s degree: 64.3% (state: 30.0%)
> 2019 unemployment rate: 3.8% (state: 5.0%)
> Population: 84,087

Troy, the wealthiest city in Michigan, is located only about 20 miles from Detroit, one of the poorest cities in the state. The typical Troy household earns $110,909 a year, far more than the median household income across Michigan of $59,584 and more than triple the median of $33,965 in Detroit.

Troy’s relatively high median income is partially attributable to low unemployment. Just 3.8% of the local labor force was out of work in 2019, compared to 5.0% of workers across Michigan as a whole.

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Minnesota: Lakeville
> Median household income: $117,083 (state: $74,593)
> Households earning more than $200,000: 17.4% (state: 8.5%)
> Median home value: $344,800 (state: $246,700)
> Adults with a bachelor’s degree: 51.3% (state: 37.3%)
> 2019 unemployment rate: N/A (state: 3.2%)
> Population: 67,326

Minnesota is a relatively wealthy state. The typical Minnesota household earns an income of $74,593 a year, about $9,000 more than the typical American household. There are also four cities in the state in which the median household income is over $100,000 a year. The Minneapolis suburb of Lakeville has the highest median household income of them all, at $117,083. Additionally, the 17.4% share of Lakeville households earning $200,000 or more per year is more than double the 8.5% share statewide.

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Mississippi: Jackson
> Median household income: $38,972 (state: $45,792)
> Households earning more than $200,000: 2.4% (state: 3.2%)
> Median home value: $91,100 (state: $128,200)
> Adults with a bachelor’s degree: 27.0% (state: 22.3%)
> 2019 unemployment rate: 9.3% (state: 6.6%)
> Population: 160,532

Of the two cities in Mississippi with 2019 Census data, Jackson is the wealthiest. The typical Jackson household earns $38,972 a year, compared to the median income of $36,013 in the city of Gulfport. Still, incomes are lower in Jackson than they are across the state as a whole, where the median household income is $45,792.

The lower than average incomes in Jackson are partially attributable to a lack of jobs. The city’s 9.3% annual unemployment rate is well above the overall unemployment rate across Mississippi of 6.6%.

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Missouri: Lee’s Summit
> Median household income: $106,912 (state: $57,409)
> Households earning more than $200,000: 11.7% (state: 5.1%)
> Median home value: $245,700 (state: $168,000)
> Adults with a bachelor’s degree: 50.3% (state: 30.2%)
> 2019 unemployment rate: 3.0% (state: 3.8%)
> Population: 99,290

Lee’s Summit, a suburb of Kansas City, is the wealthiest city in Missouri. It is the only city in the state where most households have an income of over $100,000 a year. The higher incomes mean residents can afford more expensive housing. In Lee’s Summit, the typical home is worth nearly a quarter of a million dollars — about $78,000 more than the median home value across Missouri.

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