The Village Of Indian Hill, Grandview Heights, Powell: These cities aren’t just some of the best places to live in Ohio. They are also home to some of the richest people in the Buckeye State.
The Village Of Indian Hill in particular houses the richest residents in the state thanks, in part, to a median household income of $215,679 and a ridiculously low poverty rate of 2.7%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Ohio share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.
How did we come up with these mega wealthy cities? We analyzed Census data from the 2013-2017 American Community Survey for the 256 places in Ohio with more than 5,000 people.
At the end of the day, here’s the set of the 10 richest places in Ohio for 2019:
- The Village of Indian Hill (Photos | Homes For Sale)
- Grandview Heights (Photos | Homes For Sale)
- Powell (Photos | Homes For Sale)
- Madeira (Photos | Homes For Sale)
- Bay Village (Photos | Homes For Sale)
- Granville (Photos | Homes For Sale)
- Montgomery (Photos | Homes For Sale)
- Mason (Photos | Homes For Sale)
- Waterville (Photos | Homes For Sale)
- Macedonia (Photos | Homes For Sale)
For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in Ohio.
Rich people not your cup of tea? Feel free to check out some more reading about Ohio:
How We Determined The Richest Places In Ohio For 2019
The first thing that comes to most people’s minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the “richest places”. So we looked at this set of criteria from the newly released 2013-2017 American Community Survey:
- Poverty Level
- Median Household Income
- Unemployment Rate
Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.
After we collected the data for all 256 places with more than 5,000 people in Ohio, we ranked each place from 1 to 256 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a “Rich Score” with the place having the lowest overall Rich Score, The Village Of Indian Hill, crowned the “Richest City In Ohio For 2019”.
You can learn more about the top ten below or skip to the end to see the rankings for all 256 places.
Madeira is a city in Hamilton County, Ohio, United States. The population was 8,726 at the 2010 census. Madeira has a Council-Manager form of government, where the elected City Council appoints a paid City Manager to run the day-to-day operations of the city. Madeira is served by its own police department, while fire service is provided by the Madeira-Indian Hill Joint Fire District. Madeira is largely a residential community, with a small downtown and some light industry. Educational needs are served by the nationally ranked Madeira City Schools. Madeira is a suburb of Cincinnati. In 2007, BusinessWeek ranked it as one of the “Best Places to Raise Kids–For Less.” Madeira, known for its beautiful parks, has a plethora of sports programs.
Bay Village is a city located west of Cleveland Ohio in Cuyahoga County, Ohio, United States. The population was 15,651 at the 2010 census. Bay Village is located in Ohio’s 9th congressional district.
Granville is a village in Licking County, Ohio, United States. The population was 5,646 at the 2010 census. The village is located in a rural area of rolling hills in central Ohio. It is 35 miles east of Columbus, the state capital, and 7 miles west of Newark, the county seat.
Montgomery is a city in Hamilton County, Ohio, United States, settled in 1796. The town was a coach stop on the Cincinnati-Zanesville Road, later known as the Montgomery Pike, with an inn, two taverns, a grist mill and a carding mill to process its agricultural products. It would remain a rather sleepy hamlet until the 1960s when it became an affluent bedroom community for people working in Cincinnati. It retains its historic downtown with many other 19th-century houses scattered throughout the community. It is currently accessed from exit 15 off Interstate 71 and exit 50 off Interstate 275, and it is the eastern terminus of the Ronald Reagan Cross County Highway about five miles northeast of the Cincinnati city line. The population was 10,251 at the 2010 census.
Mason is a city in southwestern Warren County, Ohio, United States, approximately 22 miles (35 km) from downtown Cincinnati. As of the 2010 census, Mason’s population was 30,712.
Waterville is a city in Lucas County, Ohio, United States, along the Maumee River, a suburb of Toledo. The population was 5,523 at the 2010 census.
Macedonia is a city in Summit County, Ohio, United States. The population was 11,188 at the 2010 census. Macedonia is part of the Akron Metropolitan Statistical Area.
There You Have It – The Wealthiest Places In Ohio For 2019
Like we said earlier, when we set out to identify the richest places in Ohio, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Ohio.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in Ohio, according to data:
Poorest: East Cleveland
2nd Poorest: Youngstown
3rd Poorest: Nelsonville
For more Ohio reading, check out:
- 10 Best Places To Raise A Family In Ohio
- These Are The 10 Best Places To Retire In Ohio
- 10 Safest Places In Ohio
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Detailed List Of The Richest Cities In Ohio
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