Mountain Brook, Pike Road, Chelsea: These cities aren’t just some of the best places to live in Alabama. They are also home to some of the richest people in the Heart of Dixie.
Mountain Brook in particular houses the richest residents in the state thanks, in part, to a median household income of $130,259 and a ridiculously low poverty rate of 2.5%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Alabama 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 115 places in Alabama with more than 5,000 people, we were left with this set of the ten richest places in the Heart of Dixie:
- Mountain Brook
- Pike Road
- Vestavia Hills
- Spanish Fort
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 Alabama? That would be Selma.
How We Determined The Richest Places In Alabama
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 115 places with more than 5,000 people in Alabama, we ranked each place from 1 to 115 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, Mountain Brook, crowned the “Richest Place In Alabama”.
You can learn more about the top ten below or skip to the end to see the rankings for all 115 places.
1. Mountain Brook
Population: 20,484Median Income: $130,259
Poverty Level: 2.5%
Unemployment Rate: 2.2%
2. Pike Road
Population: 6,605Median Income: $92,609
Poverty Level: 2.8%
Unemployment Rate: 3.8%
Population: 11,051Median Income: $85,106
Poverty Level: 5.4%
Unemployment Rate: 2.6%
Population: 20,229Median Income: $86,518
Poverty Level: 3.6%
Unemployment Rate: 5.5%
5. Vestavia Hills
Population: 34,061Median Income: $81,352
Poverty Level: 5.6%
Unemployment Rate: 3.6%
Population: 16,752Median Income: $86,018
Poverty Level: 2.6%
Unemployment Rate: 5.7%
Population: 8,550 Median Income: $91,637
Poverty Level: 7.6%
Unemployment Rate: 4.2%
Population: 5,213Median Income: $64,694
Poverty Level: 3.4%
Unemployment Rate: 5.4%
9. Spanish Fort
Population: 7,357Median Income: $67,204
Poverty Level: 7.2%
Unemployment Rate: 3.4%
Population: 82,849Median Income: $76,469
Poverty Level: 5.9%
Unemployment Rate: 5.7%
There You Have It – The Richest Places In Alabama
Like we said earlier, when we set out to identify the richest places in Alabama, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Alabama. 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 AL, according to data:
2nd Poorest: Prichard
3rd Poorest: Atmore
For more Alabama reading , check out:
- This Guy Asked People In Alabama To Show Him The Last Photo On Their Phones. Here’s What Happened.
- These Are The 10 Most Ghetto Cities In Alabama
- These Are The 10 Most Dangerous Cities In Alabama
Detailed List Of Richest Places In Alabama