Huntington Woods, Forest Hills, Birmingham: 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.
Huntington Woods in particular houses the richest residents in the state thanks, in part, to a median household income of $113,750 and a ridiculously low poverty rate of 2.4%.
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.
After analyzing Census data from the 2010-2014 American Community Survey for the 174 places in Michigan with more than 5,000 people, we were left with this set of the ten richest places in the Wolverine State:
- Huntington Woods
- Forest Hills
- East Grand Rapids
- Beverly Hills
- Grosse Pointe Park
- Byron Center
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 Michigan? That would be Highland Park.
How We Determined The Richest Places In Michigan
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 174 places with more than 5,000 people in Michigan, we ranked each place from 1 to 174 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, Huntington Woods, crowned the “Richest Place In Michigan”.
You can learn more about the top ten below or skip to the end to see the rankings for all 174 places.
1. Huntington Woods
Population: 6,310Median Income: 11375000.0%
Poverty Level: 2.4%
Unemployment Rate: 3.3%
2. Forest Hills
Population: 27,072Median Income: 11878800.0%
Poverty Level: 1.5%
Unemployment Rate: 4.9%
Population: 20,382Median Income: 10716100.0%
Poverty Level: 3.0%
Unemployment Rate: 4.3%
4. East Grand Rapids
Population: 10,999Median Income: 10782400.0%
Poverty Level: 2.3%
Unemployment Rate: 5.2%
5. Beverly Hills
Population: 10,368Median Income: 10301100.0%
Poverty Level: 3.3%
Unemployment Rate: 6.1%
6. Grosse Pointe Park
Population: 11,412Median Income: 9708300.0%
Poverty Level: 5.2%
Unemployment Rate: 5.7%
Population: 9,000Median Income: 6718000.0%
Poverty Level: 2.9%
Unemployment Rate: 5.3%
Population: 7,608 Median Income: 7138000.0%
Poverty Level: 2.5%
Unemployment Rate: 6.3%
9. Byron Center
Population: 6,057 Median Income: 6399200.0%
Poverty Level: 5.1%
Unemployment Rate: 5.2%
Population: 56,887Median Income: 8029900.0%
Poverty Level: 6.1%
Unemployment Rate: 6.0%
There You Have It – The Richest Places In Michigan
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 MI, according to data:
Poorest: Highland Park
2nd Poorest: Benton Harbor
3rd Poorest: Muskegon Heights
For more Michigan reading , check out:
- We Gave Random People A Michigan Education. Their Reactions Are Hilarious.
- 20 Really Lame Excuses Michigan Residents Use To Get Out Of Work
- These Are The 10 Happiest Cities In Michigan
Detailed List Of Richest Places In Michigan
|East Grand Rapids||4|
|Grosse Pointe Park||6|
|Grosse Pointe Farms||15|
|Grosse Pointe Woods||16|
|St. Clair Shores||58|
|Sault Ste. Marie||144|