Horace, Hazen, West Fargo: These cities aren’t just some of the best places to live in North Dakota. They are also home to some of the richest people in the Peace Garden State.
Horace in particular houses the richest residents in the state thanks, in part, to a median household income of $107,000 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 North Dakota 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 25 places in North Dakota with more than 2,000 people.
At the end of the day, here’s the set of the 10 richest places in North Dakota for 2018:
- Horace (Photos | Homes For Sale)
- Hazen (Photos | Homes For Sale)
- West Fargo (Photos | Homes For Sale)
- Lincoln (Photos | Homes For Sale)
- Watford City (Photos | Homes For Sale)
- Casselton (Photos | Homes For Sale)
- Beulah (Photos | Homes For Sale)
- Williston (Photos | Homes For Sale)
- Lisbon (Photos | Homes For Sale)
- Minot (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 North Dakota.
How We Determined The Richest Places In North Dakota 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 25 places with more than 2,000 people in North Dakota, we ranked each place from 1 to 25 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, Horace, crowned the “Richest Place In North Dakota For 2018”.
You can learn more about the top ten below or skip to the end to see the rankings for all 25 places.
3. West Fargo
Population: 31,557Median Income: $71,516
Unemployment Rate: 1.2%
Poverty Rate: 6.8%
More on West Fargo: Homes For Sale | Data
West Fargo is a city in Cass County, North Dakota, United States. It is, as of the 2016 Census Estimates, the fifth largest city in the state of North Dakota with a population estimated at 34,858, and it is one of the state’s fastest growing cities. West Fargo was founded in 1926. The city is part of the Fargo-Moorhead, ND-MN Metropolitan Statistical Area.
5. Watford City
Population: 23,902Median Income: $90,875
Unemployment Rate: 2.2%
Poverty Rate: 10.5%
More on Williston: Homes For Sale | Data
Williston is a city in and the county seat of Williams County, North Dakota, United States. The 2010 census gave its population as 14,716, and the Census Bureau gave the 2015 estimated population as 26,977, making Williston the sixth largest city in North Dakota. The North Dakota oil boom is largely responsible for the sharp increase in population.
Population: 47,338Median Income: $62,324
Unemployment Rate: 2.2%
Poverty Rate: 8.1%
More on Minot: Homes For Sale | Data
Minot (/mant/ ( listen) MY-not) is a city in and the county seat of Ward County, North Dakota, United States, in the state’s north-central region. It is most widely known for the Air Force base located approximately 15 miles (24 km) north of the city. With a population of 40,888 at the 2010 census, Minot is the fourth largest city in the state and a trading center for a large portion of northern North Dakota, southwestern Manitoba, and southeastern Saskatchewan. Founded in 1886 during the construction of the Great Northern Railway, Minot is also known as “Magic City”, commemorating its remarkable growth in size over a short time.
There You Have It – The Wealthiest Places In North Dakota For 2018
Like we said earlier, when we set out to identify the richest places in North Dakota, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in North Dakota.
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 North Dakota, according to data:
2nd Poorest: Grand Forks
3rd Poorest: New Town
For more North Dakota reading, check out:
Detailed List Of The Richest Cities In North Dakota