Richest Cities In Kentucky For 2020


We analyzed 77 places in Kentucky to determine where the 1% live.

Editor’s Note: Data has been updated for 2020. This is our fifth time ranking the richest cities in Kentucky.

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Did you know that the bigger the hat you wear to the Kentucky Derby in Louisville, the more money people think you have?

All joking aside, HomeSnacks is here to tell you where the richest places are located in Kentucky for 2020 and we've listed them below.

If you ask any one of Kentucky's 4.5 million residents they will say that their corner of the Bluegrass State is pretty cool; but if you ask the one percent, they will say that their Kentucky city is the best. Probably why many of the states richest places are also the Kentucky's best. And like the rest of the country, the wealthy in Kentucky spare no expense, so that's why we looked at factors like, but not limited to, median income data, education levels, and fancy amenities for 78 Kentucky places with at least 5,000 residents to narrow down Kentucky's most well-to-do places.

And, folks, if you guessed that Bowling Green and Owensboro made the list, guess again. Actually, many of Kentucky's most affluent places are centered around the state's eighth largest city, Florence. Are you at all surprised? We aren't. Florence is super safe and this key attribute is definitely trickling down to Kentucky's richest places.

Want to know more? We suggest you grab a mint julep, a sunny spot at Churchill Downs, and read on to see where Kentucky "Richie Rich" live.

If you're wondering how to get your hands on one of Kentucky's richest places, you can start by researching a list of Kentucky's highest paying jobs because you're going to need to make at least $59,400/year to keep up with the Joneses in these places.

So, what is the richest place in Kentucky for 2020? According to the latest data,that honor goes to Edgewood.

To see what other wealthy Kentucky cities made the list, hit that down arrow. And if you have a second, take a look at Kentucky's poorest places, it will definitely put this list in perspective.

Rich people not your cup of tea? Feel free to check out some more reading about Kentucky:

The 10 Richest Cities In Kentucky For 2020

Edgewood, KY

Source: Public domain
Overall SnackAbility

7
/10

Population: 8,723
Rank Last Year: 1 (No Change)
Median Income: $99,183
Unemployment Rate: 2.6%
Poverty Rate: 4.6%
More on Edgewood: Real Estate | Data | Photos

Union, KY

Source: Public domain
Overall SnackAbility

7
/10

Population: 5,815
Rank Last Year: 4 (Up 2)
Median Income: $113,194
Unemployment Rate: 3.3%
Poverty Rate: 1.9%
More on Union: Real Estate | Data | Photos

Union is a home rule-class city in Boone County, Kentucky, United States. The population was 5,379 as of the 2010 United States Census. The area was rural until mass residential growth in the 1990s and 2000s.

Fort Wright, KY

Overall SnackAbility

9
/10

Population: 5,724
Rank Last Year: 5 (Up 2)
Median Income: $74,798
Unemployment Rate: 1.9%
Poverty Rate: 6.5%
More on Fort Wright: Real Estate | Data | Photos

Fort Wright is a home rule-class city in Kenton County, Kentucky, in the United States. The population was 5,723 at the 2010 census.

Cold Spring, KY

Overall SnackAbility

9
/10

Population: 6,319
Rank Last Year: 2 (Down 2)
Median Income: $64,479
Unemployment Rate: 2.9%
Poverty Rate: 3.1%
More on Cold Spring: Real Estate | Data

Cold Spring is a home rule-class city in Campbell County, Kentucky, in the United States. The population was 5,912 at the 2010 census, up from 3,806 at the 2000 census. It is part of the Cincinnati-Northern Kentucky metropolitan area.

Fort Mitchell, KY

Source: Public domain
Overall SnackAbility

9.5
/10

Population: 8,237
Rank Last Year: 7 (Up 2)
Median Income: $66,754
Unemployment Rate: 0.4%
Poverty Rate: 8.3%
More on Fort Mitchell: Real Estate | Data | Photos

Fort Mitchell is a home rule-class city in Kenton County, Kentucky, in the United States. The population was 8,207 at the 2010 census.

Overall SnackAbility

7.5
/10

Population: 5,702
Rank Last Year: 3 (Down 3)
Median Income: $64,882
Unemployment Rate: 3.2%
Poverty Rate: 2.1%
More on Douglass Hills: Real Estate | Data

Douglass Hills is a home rule-class city in eastern Jefferson County, Kentucky, United States. The population was 5,718 at the 2000 census.

Fort Thomas, KY

Source: Public domain
Overall SnackAbility

10
/10

Population: 16,313
Rank Last Year: 6 (Down 1)
Median Income: $76,837
Unemployment Rate: 3.2%
Poverty Rate: 6.1%
More on Fort Thomas: Real Estate | Data | Photos

Fort Thomas is a home rule-class city in Campbell County, Kentucky, United States, on the southern bank of the Ohio River and the site of an 1890 US Army post. The population was 16,325 at the 2010 census, making it the largest city in Campbell County and it is officially part of the Cincinnati - Northern Kentucky metropolitan area.

Hillview, KY

Source: Wikipedia
Overall SnackAbility

8.5
/10

Population: 8,987
Rank Last Year: 21 (Up 13)
Median Income: $59,400
Unemployment Rate: 2.7%
Poverty Rate: 5.9%
More on Hillview: Real Estate | Data | Photos

Middletown, KY

Overall SnackAbility

7.5
/10

Population: 7,865
Rank Last Year: 14 (Up 5)
Median Income: $74,196
Unemployment Rate: 2.9%
Poverty Rate: 8.9%
More on Middletown: Real Estate | Data | Photos

Middletown is an independent, home rule-class city in Jefferson County, Kentucky, United States, and a former neighborhood of Louisville. The population was 7,218 at the 2010 census.

Jeffersontown, KY

Overall SnackAbility

9
/10

Population: 28,178
Rank Last Year: 8 (Down 2)
Median Income: $69,285
Unemployment Rate: 3.6%
Poverty Rate: 5.0%
More on Jeffersontown: Real Estate | Data | Photos

Jeffersontown is a home rule-class city in Jefferson County, Kentucky, United States. The population was 26,595 at the 2010 U.S. census.

How We Determined The Richest Places In Kentucky For 2020

Map Of The Richest Places To Live In Kentucky
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 2014-2018 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 78 places with more than 5,000 people in Kentucky, we ranked each place from 1 to 78 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, Edgewood, crowned the "Richest City In Kentucky For 2020". You can download the data here.

You can learn more about the top ten below or skip to the end to see the rankings for all 78 places.

There You Have It - The Wealthiest Places In Kentucky For 2020

Like we said earlier, when we set out to identify the richest places in Kentucky, we weren't sure what we'd encounter, but it ended up being some of the best places to live in Kentucky.

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 Kentucky, according to data:

Poorest: Lebanon
2nd Poorest: Somerset
3rd Poorest: Mayfield

For more Kentucky reading, check out:

Detailed List Of The Richest Cities In Kentucky

Rank City RichScore Median Income
1 Edgewood 4.0 $99,183
2 Union 5.67 $113,194
3 Fort Wright 6.67 $74,798
4 Cold Spring 7.67 $64,479
5 Fort Mitchell 8.33 $66,754
6 Douglass Hills 8.67 $64,882
7 Fort Thomas 9.33 $76,837
8 Hillview 11.0 $59,400
9 Middletown 11.0 $74,196
10 Jeffersontown 11.33 $69,285
11 Villa Hills 11.67 $89,393
12 Independence 12.33 $79,224
13 Alexandria 13.67 $80,313
14 St. Matthews 15.33 $60,639
15 Erlanger 15.33 $60,124
16 La Grange 16.67 $59,266
17 Taylor Mill 17.33 $65,598
18 Lyndon 19.33 $55,520
19 Bellevue 20.0 $58,750
20 Georgetown 21.33 $62,321
21 Vine Grove 21.67 $60,976
22 Mount Washington 23.67 $63,801
23 Florence 25.67 $57,041
24 Shelbyville 26.33 $54,002
25 Princeton 27.33 $44,430
26 Shepherdsville 28.33 $51,420
27 Lexington 31.67 $54,918
28 Highland Heights 32.33 $48,670
29 Elizabethtown 33.33 $46,129
30 Elsmere 34.0 $53,697
31 Wilmore 34.0 $47,083
32 Bardstown 34.0 $52,754
33 Louisville 35.33 $51,307
34 Franklin 35.33 $39,311
35 Flatwoods 35.67 $48,563
36 Frankfort 36.33 $48,345
37 Berea 39.33 $43,618
38 Danville 41.67 $37,451
39 Dayton 42.67 $48,629
40 Versailles 43.0 $39,727
41 Owensboro 44.33 $41,215
42 Lawrenceburg 44.67 $49,098
43 Morehead 44.67 $39,023
44 Oak Grove 45.0 $44,236
45 Madisonville 45.0 $43,835
46 Leitchfield 45.33 $30,773
47 Winchester 46.0 $42,273
48 Nicholasville 47.0 $48,000
49 Henderson 47.33 $38,183
50 Paducah 47.67 $35,419
51 Paris 49.0 $41,855
52 Shively 50.0 $39,866
53 Radcliff 51.0 $45,344
54 Cynthiana 51.67 $36,710
55 Pikeville 51.67 $34,718
56 Bowling Green 52.67 $41,516
57 Mount Sterling 53.33 $41,716
58 Covington 55.33 $41,254
59 Central City 56.33 $40,590
60 Murray 59.0 $29,384
61 Hopkinsville 59.0 $37,669
62 Newport 59.67 $35,164
63 Monticello 60.33 $32,531
64 Maysville 60.67 $29,274
65 Ashland 63.0 $38,446
66 London 63.0 $34,441
67 Corbin 63.33 $31,908
68 Campbellsville 64.0 $27,960
69 Russellville 65.33 $32,367
70 Harrodsburg 65.67 $34,621
71 Richmond 65.67 $34,532
72 Williamsburg 66.33 $31,270
73 Glasgow 68.0 $32,561
74 Hazard 69.67 $27,944
75 Middlesborough 72.0 $23,659
76 Mayfield 72.67 $30,084
77 Somerset 73.33 $25,227
78 Lebanon 74.0 $29,699

How Is The Area In ?

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

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