South Burlington, Essex Junction, Montpelier: These cities aren’t just some of the best places to live in Vermont. They are also home to some of the richest people in the Green Mountain State.
South Burlington in particular houses the richest residents in the state thanks, in part, to a median household income of $66,728 and a ridiculously low poverty rate of 6.2%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Vermont 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 2012-2016 American Community Survey for the 13 places in Vermont with more than 2,000 people.
At the end of the day, here’s the set of the 10 richest places in Vermont for 2018:
- South Burlington (Photos | Homes For Sale)
- Essex Junction (Photos | Homes For Sale)
- Montpelier (Photos | Homes For Sale)
- Swanton (Photos | Homes For Sale)
- Rutland (Photos | Homes For Sale)
- Vergennes (Photos | Homes For Sale)
- Morrisville (Photos | Homes For Sale)
- St. Albans (Photos | Homes For Sale)
- Winooski (Photos | Homes For Sale)
- Burlington (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 Vermont.
How We Determined The Richest Places In Vermont For 2018
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 2012-2016 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 13 places with more than 2,000 people in Vermont, we ranked each place from 1 to 13 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, South Burlington, crowned the ‘Richest Place In Vermont For 2018’.
You can learn more about the top ten below or skip to the end to see the rankings for all 13 places.
1. South Burlington
Population: 18,704Median Income: $66,728
Unemployment Rate: 3.7%
Poverty Rate: 6.2%
More on South Burlington: Homes For Sale | Data
South Burlington is a city in Chittenden County, Vermont, United States. It is the second largest city in the U.S. state of Vermont and home to the headquarters of Ben & Jerry’s and Vermont’s largest mall, the University Mall. It is also one in the principal municipalities of the Burlington, Vermont metropolitan area.
2. Essex Junction
Population: 9,922Median Income: $61,620
Unemployment Rate: 4.2%
Poverty Rate: 7.9%
More on Essex Junction: Homes For Sale | Data
Essex Junction is a village located within the town of Essex in Chittenden County, Vermont, United States. The population was 9,271 at the 2010 census. It was incorporated on November 15, 1892.
Population: 7,662Median Income: $60,347
Unemployment Rate: 5.6%
Poverty Rate: 11.4%
More on Montpelier: Homes For Sale | Data
Montpelier (/mntpilir/) is the capital city of the U.S. state of Vermont and the seat of Washington County. As the site of Vermont’s state government, it is the least populous state capital in the United States. The population was 7,855 at the 2010 census. However, the daytime population swells to about 21,000, due to the large number of jobs within city limits. The Vermont College of Fine Arts and New England Culinary Institute are located in the municipality. It was named for Montpellier, France.
8. St. Albans
Population: 7,209Median Income: $49,596
Unemployment Rate: 6.2%
Poverty Rate: 26.0%
More on Winooski: Homes For Sale | Data
Winooski /wnuski/ is a city in Chittenden County, Vermont, United States. Located on the Winooski River, as of the 2010 U.S. Census the municipal population was 7,267. The city is the most densely populated municipality in northern New England, an area comprising the states of Maine, New Hampshire, and Vermont. It is the smallest in area of Vermont’s nine incorporated cities. As part of the Burlington, Vermont metropolitan area, it is bordered by Burlington, Colchester, and South Burlington.
Population: 42,556Median Income: $46,754
Unemployment Rate: 6.9%
Poverty Rate: 25.1%
More on Burlington: Homes For Sale | Data
Burlington is the most populous city in the U.S. state of Vermont and the seat of Chittenden County. It is located 45 miles (72 km) south of the Canada–United States border and 94 miles (151 km) south of Canada’s second most populous municipality, Montreal. The city’s population was 42,452 according to a 2015 U.S. census estimate. It is the least populous municipality in the United States to be the most populous incorporated area in a state.
There You Have It – The Wealthiest Places In Vermont For 2018
Like we said earlier, when we set out to identify the richest places in Vermont, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Vermont.
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 Vermont, according to data:
2nd Poorest: Barre
3rd Poorest: Bellows Falls
For more Vermont reading , check out:
Detailed List Of The Richest Cities In Vermont