Cherry Hills Village, Erie, The Pinery: 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.
Cherry Hills Village in particular houses the richest residents in the state thanks, in part, to a median household income of $215,299 and a ridiculously low poverty rate of 2.1%.
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.
After analyzing Census data from the 2010-2014 American Community Survey for the 111 places in Colorado with more than 5,000 people, we were left with this set of the ten richest places in the Centennial State:
- Cherry Hills Village
- The Pinery
- Castle Pines
- Highlands Ranch
- Greenwood Village
- Roxborough Park
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 Colorado? That would be Alamosa.
How We Determined The Richest Places In Colorado
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 111 places with more than 5,000 people in Colorado, we ranked each place from 1 to 111 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, Cherry Hills Village, crowned the “Richest Place In Colorado”.
You can learn more about the top ten below or skip to the end to see the rankings for all 111 places.
1. Cherry Hills Village
Population: 6,234Median Income: 21529900.0%
Poverty Level: 2.1%
Unemployment Rate: 3.7%
Population: 19,305Median Income: 10885700.0%
Poverty Level: 2.2%
Unemployment Rate: 3.8%
3. The Pinery
Population: 11,087 Median Income: 12258100.0%
Poverty Level: 1.9%
Unemployment Rate: 4.6%
4. Castle Pines
Population: 10,626Median Income: 13742600.0%
Poverty Level: 1.8%
Unemployment Rate: 4.9%
5. Highlands Ranch
Population: 101,350Median Income: 11022100.0%
Poverty Level: 3.0%
Unemployment Rate: 4.3%
6. Greenwood Village
Population: 14,546Median Income: 10918000.0%
Poverty Level: 4.4%
Unemployment Rate: 3.6%
Population: 12,716Median Income: 11625000.0%
Poverty Level: 5.1%
Unemployment Rate: 4.1%
Population: 6,511Median Income: 8157100.0%
Poverty Level: 2.7%
Unemployment Rate: 3.9%
Population: 8,755 Median Income: 11228700.0%
Poverty Level: 5.5%
Unemployment Rate: 4.1%
10. Roxborough Park
Population: 9,273 Median Income: 10021600.0%
Poverty Level: 1.6%
Unemployment Rate: 5.6%
There You Have It – The Richest Places In Colorado
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 CO, according to data:
2nd Poorest: La Junta
3rd Poorest: Sterling
For more Colorado reading , check out:
- A Filmmaker Traveled Throughout Denver For A Year. What He Captured Will Make Your Day.
- If You’re From Colorado This Will Be The Most Jaw-Dropping Thing You See All Day. Guaranteed.
- These Are The 10 Best Places To Live In Colorado
Detailed List Of Richest Places In Colorado
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