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 $67,396 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.
After analyzing Census data from the 2010-2014 American Community Survey for the 12 places in Vermont with more than 5,000 people, we were left with this set of the ten richest places in the Green Mountain State:
- South Burlington (Photos)
- Essex Junction (Photos)
- Montpelier (Photos)
- St. Albans (Photos)
- Barre (Photos)
- Winooski (Photos)
- Rutland (Photos)
- Burlington (Photos)
For more on how we calculated the top ten, read on or skip to the end for the full list. Oh, and the poorest place in Vermont? That would be Bennington.
How We Determined The Richest Places In Vermont
The first thing that comes to most people’s minds when they think about determining the richest places is simply how much people earn. After all, rich people have really high salaries.
However, we don’t think 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 2010-2014 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 12 places with more than 5,000 people in Vermont, we ranked each place from 1 to 12 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”.
You can learn more about the top ten below or skip to the end to see the rankings for all 12 places.
1. South Burlington
Population: 18,378Median Income: $67,396
Poverty Level: 6.2%
Unemployment Rate: 4.7%
2. Essex Junction
Population: 9,552Median Income: $53,954
Poverty Level: 6.8%
Unemployment Rate: 6.6%
Population: 7,760Median Income: $60,676
Poverty Level: 11.2%
Unemployment Rate: 7.0%
Population: 6,713Median Income: $49,632
Poverty Level: 15.7%
Unemployment Rate: 6.1%
5. St. Albans
Population: 6,889Median Income: $44,657
Poverty Level: 15.6%
Unemployment Rate: 6.7%
Population: 7,132Median Income: $49,431
Poverty Level: 18.8%
Unemployment Rate: 10.1%
Population: 8,955Median Income: $40,679
Poverty Level: 19.6%
Unemployment Rate: 7.4%
Population: 7,250Median Income: $44,828
Poverty Level: 23.4%
Unemployment Rate: 8.1%
Population: 16,217Median Income: $38,558
Poverty Level: 18.3%
Unemployment Rate: 8.9%
Population: 42,342Median Income: $42,745
Poverty Level: 27.8%
Unemployment Rate: 8.8%
There You Have It – The Richest Places In Vermont
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 VT, according to data:
2nd Poorest: St. Johnsbury
3rd Poorest: Burlington
For more Vermont reading , check out:
- If You’re From Vermont This Will Be The Most Jaw-Dropping Thing You See All Day. Guaranteed.
- If You’re From Vermont This Will Be A Highlight Of Your Day. No Doubt About It.
- These Are The 10 Snobbiest Places In Vermont
Detailed List Of Richest Places In Vermont