Castle Pines, Cherry Hills Village, Erie: These cities aren’t just some of the best places to live in Colorado. They are also home to some of the richest people in the Centennial State.
Castle Pines in particular houses the richest residents in the state thanks, in part, to a median household income of $140,764 and a ridiculously low poverty rate of 1.6%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Colorado 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 75 places in Colorado with more than 5,000 people.
At the end of the day, here’s the set of the 10 richest places in Colorado for 2018:
- Castle Pines
- Cherry Hills Village
- Erie (Photos)
- Greenwood Village (Photos)
- Eagle (Photos)
- Superior (Photos)
- Lone Tree (Photos)
- Parker (Photos)
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 Colorado.
How We Determined The Richest Places In Colorado 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 75 places with more than 5,000 people in Colorado, we ranked each place from 1 to 75 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, Castle Pines, crowned the ‘Richest Place In Colorado For 2018’.
You can learn more about the top ten below or skip to the end to see the rankings for all 75 places.
1. Castle Pines
Population: 10,389Median Income: $140,764
Unemployment Rate: 3.0%
Poverty Rate: 1.6%
The City of Castle Pines is statutory city located in Douglas County, Colorado, United States. As of the 2010 census, the population of the city was 10,360. By 2013, the United States Census Bureau estimated the population to have increased to 10,726. The city is situated 19 miles (31 km) south-southeast of the Colorado State Capitol in Denver. The city is located north of the Town of Castle Rock and south of the City of Lone Tree, Colorado.
2. Cherry Hills Village
Population: 6,414Median Income: $224,125
Unemployment Rate: 4.0%
Poverty Rate: 2.5%
Population: 20,801Median Income: $110,877
Unemployment Rate: 2.9%
Poverty Rate: 4.4%
4. Greenwood Village
Population: 15,208Median Income: $116,743
Unemployment Rate: 3.2%
Poverty Rate: 4.6%
The City of Greenwood Village is a Home Rule Municipality located in Arapahoe County, Colorado, United States. The city is a part of the Denver-Aurora-Lakewood, CO Metropolitan Statistical Area. As of 2010, the city has a total population of 13,925.
Population: 7,409Median Income: $79,411
Unemployment Rate: 2.2%
Poverty Rate: 2.4%
Wellington is a Statutory Town in Larimer County, Colorado, United States. The population was 6,289 at the 2010 census.
Population: 6,603Median Income: $111,808
Unemployment Rate: 2.1%
Poverty Rate: 6.6%
Eagle is a statutory town that is the county seat of Eagle County, Colorado, United States. The population was 6,508 at the 2010 census, up from 3,032 at the 2000 census.
Population: 10,791 Median Income: $90,321
Unemployment Rate: 3.7%
Poverty Rate: 3.4%
The Town of Frederick is a Statutory Town in Weld County, Colorado, United States. The population was 8679 at the 2010 census.
Population: 12,928Median Income: $114,310
Unemployment Rate: 4.3%
Poverty Rate: 4.1%
Superior is a Statutory Town in Boulder County in the U.S. state of Colorado, with a small, uninhabited segment of land area extending into Jefferson County . According to the 2010 census, the population of the city was 12,483.
9. Lone Tree
Population: 12,808Median Income: $115,049
Unemployment Rate: 4.3%
Poverty Rate: 4.5%
Population: 48,442Median Income: $101,969
Unemployment Rate: 4.0%
Poverty Rate: 4.8%
There You Have It – The Richest Places In Colorado For 2018
Like we said earlier, when we set out to identify the richest places in Colorado, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Colorado.
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 Colorado, according to data:
2nd Poorest: Gunnison
3rd Poorest: Pueblo
For more Colorado reading , check out:
Detailed List Of The Richest Cities In Colorado
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