Beverly Hills, East Grand Rapids, Huntington Woods: These cities aren’t just some of the best places to live in Michigan. They are also home to some of the richest people in the Wolverine State.
Beverly Hills in particular houses the richest residents in the state thanks, in part, to a median household income of $108,214 and a ridiculously low poverty rate of 2.0%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Michigan 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 148 places in Michigan with more than 5,000 people.
At the end of the day, here’s the set of the 10 richest places in Michigan for 2018:
- Beverly Hills (Photos | Homes For Sale)
- East Grand Rapids (Photos | Homes For Sale)
- Huntington Woods (Photos | Homes For Sale)
- Birmingham (Photos | Homes For Sale)
- Grosse Pointe Farms (Photos | Homes For Sale)
- Plymouth (Photos | Homes For Sale)
- Saline (Photos | Homes For Sale)
- Novi (Photos | Homes For Sale)
- Berkley (Photos | Homes For Sale)
- Rochester Hills (Photos | Homes For Sale)
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 Michigan.
How We Determined The Richest Places In Michigan 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 148 places with more than 5,000 people in Michigan, we ranked each place from 1 to 148 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, Beverly Hills, crowned the ‘Richest Place In Michigan For 2018’.
You can learn more about the top ten below or skip to the end to see the rankings for all 148 places.
1. Beverly Hills
Population: 10,450Median Income: $108,214
Unemployment Rate: 3.3%
Poverty Rate: 2.0%
More on Beverly Hills: Homes For Sale | Data
Beverly Hills is a village in Southfield Township, Oakland County of the U.S. state of Michigan. It is a suburb of Detroit. As of the 2010 census, the population was 10,267 making it by far the most populous village in the state.
2. East Grand Rapids
Population: 11,297Median Income: $118,393
Unemployment Rate: 3.4%
Poverty Rate: 2.8%
More on East Grand Rapids: Homes For Sale | Data
East Grand Rapids is a city in Kent County in the U.S. state of Michigan. The city is located in the Grand Rapids metropolitan area and is located on the shores of Reeds Lake. As of the 2010 census, the city population was 10,694.
3. Huntington Woods
Population: 20,653Median Income: $112,545
Unemployment Rate: 3.6%
Poverty Rate: 3.7%
More on Birmingham: Homes For Sale | Data
Birmingham is a city on the north side of Metro Detroit in the U.S. state of Michigan. As of the 2010 census, the population was 20,103.
5. Grosse Pointe Farms
Population: 9,265Median Income: $119,500
Unemployment Rate: 4.7%
Poverty Rate: 3.4%
More on Grosse Pointe Farms: Homes For Sale | Data
Grosse Pointe Farms is a suburban town bordering Detroit located in Wayne County in the U.S. state of Michigan. The population was 9,479 at the 2010 census. It is bordered by Canada and Lake Saint Clair on the south and east, Grosse Pointe on the west, Detroit on the north, and Grosse Pointe Woods and Grosse Pointe Shores on the northeast. Lakeshore Drive begins in Grosse Pointe Farms, where, just east of Fisher Road, the eastbound driver or pedestrian on Jefferson Avenue descends to lake level, following the curvature of the lakefront to the northeast.
Population: 8,956Median Income: $78,254
Unemployment Rate: 3.6%
Poverty Rate: 5.1%
More on Plymouth: Homes For Sale | Data
Plymouth is a city in Wayne County in the U.S. state of Michigan. The population was 9,132 at the 2010 census. The City of Plymouth is entirely surrounded by the Charter Township of Plymouth.
Population: 9,082Median Income: $66,419
Unemployment Rate: 3.7%
Poverty Rate: 3.5%
More on Saline: Homes For Sale | Data
Saline /slin/ is a city in Washtenaw County in the U.S. state of Michigan. As of the 2010 census, the city population was 8,810.
Population: 58,233Median Income: $86,193
Unemployment Rate: 3.9%
Poverty Rate: 5.5%
More on Novi: Homes For Sale | Data
Novi (/nova/ NOH-vy) is a city in Oakland County in the U.S. state of Michigan. As of the 2010 census, the population was 55,224, an increase over the 2000 census count of 47,386. The city is located approximately 25 miles (40 km) northwest of the center of Detroit, and about 8 miles (13 km) west of the western border of Detroit. It is about 25 miles (40 km) northeast of the center of Ann Arbor. The city is located within the boundaries of the survey township of Novi Township. The remaining unincorporated township is only a tiny fraction surrounded by the city.
Population: 15,239Median Income: $74,172
Unemployment Rate: 4.4%
Poverty Rate: 5.0%
More on Berkley: Homes For Sale | Data
Berkley is a suburb of Detroit located along the Woodward Corridor in southeastern Oakland County, Michigan. As of the 2010 census, the total population was 14,970.
10. Rochester Hills
Population: 72,987Median Income: $83,507
Unemployment Rate: 4.6%
Poverty Rate: 5.2%
More on Rochester Hills: Homes For Sale | Data
Rochester Hills is a city in northeast Oakland County of the U.S. state of Michigan, in the northern outskirts of Metropolitan Detroit area. As of the 2010 census, the city had a total population of 70,995.
There You Have It – The Wealthiest Places In Michigan For 2018
Like we said earlier, when we set out to identify the richest places in Michigan, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Michigan.
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 Michigan, according to data:
Poorest: Highland Park
2nd Poorest: Benton Harbor
3rd Poorest: Flint
For more Michigan reading , check out:
Detailed List Of The Richest Cities In Michigan
|East Grand Rapids||2|
|Grosse Pointe Farms||5|
|Grosse Pointe Park||11|
|Grosse Pointe Woods||18|
|St. Clair Shores||47|