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Sidney, Belgrade, Glendive: These cities aren't just some of the best places to live in Montana. They are also home to some of the richest people in the Treasure State.
Sidney in particular houses the richest residents in the state thanks, in part, to a median household income of $60,716 and a ridiculously low poverty rate of 4.7168347556245145%.
If you're thinking of moving to one of these towns, you'll probably need to start saving. The richest places in Montana 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 2014-2018 American Community Survey for the 34 places in Montana with more than 2,000 people.
At the end of the day, here's the set of the 10 richest places in Montana for 2020:
- Sidney (Photos | Homes For Sale)
- Belgrade (Photos | Homes For Sale)
- Glendive (Photos | Homes For Sale)
- Miles City (Photos | Homes For Sale)
- Colstrip (Photos | Homes For Sale)
- Billings (Photos | Homes For Sale)
- Glasgow (Photos | Homes For Sale)
- Red Lodge (Photos | Homes For Sale)
- Laurel (Photos | Homes For Sale)
- Columbia Falls (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 Montana.
Rich people not your cup of tea? Feel free to check out some more reading about Montana:
The 10 Richest Cities In Montana For 2020
Sidney is a city in and the county seat of Richland County, Montana, United States, less than 10mi away from the North Dakota border. The population was 5,191 at the 2010 census. The city lies along the Yellowstone River and is in proximity to the badlands of the Dakotas. Sidney is approximately midway between Glendive, Montana and Williston, North Dakota.
Miles City is a city in and the county seat of Custer County, Montana, United States. The population was 8,410 at the 2010 census.
Billings is the largest city in the state of Montana, and the principal city of the Billings Metropolitan Area with a population of 166,855. It has a trade area of over half a million people.
Laurel is a city in Yellowstone County, Montana, United States. It is the third largest community in the Billings Metropolitan Statistical Area, and is located in the Yellowstone Valley, as an east-west terminal division point of the Burlington-Northern Railroad. The population was 6,781 at the 2010 census.
Columbia Falls is a city in Flathead County, Montana, United States. The population was 4,710 at the 2010 census
How We Determined The Richest Places In Montana For 2020
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 34 places with more than 2,000 people in Montana, we ranked each place from 1 to 34 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, Sidney, crowned the "Richest City In Montana 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 34 places.
There You Have It - The Wealthiest Places In Montana For 2020
Like we said earlier, when we set out to identify the richest places in Montana, we weren't sure what we'd encounter, but it ended up being some of the best places to live in Montana.
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 Montana, according to data:
Poorest: Wolf Point
2nd Poorest: Libby
3rd Poorest: Stevensville
For more Montana reading, check out:
- Best Places To Raise A Family In Montana
- Cheapest Places To Live In Montana
- Safest Places In Montana
Detailed List Of The Richest Cities In Montana
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