Elm Grove, Fox Point, Mequon: These cities aren’t just some of the best places to live in Wisconsin. They are also home to some of the richest people in the Badger State.
Elm Grove in particular houses the richest residents in the state thanks, in part, to a median household income of $119,512 and a ridiculously low poverty rate of 2.3%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Wisconsin 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 143 places in Wisconsin with more than 5,000 people.
- Elm Grove (Photos | Homes For Sale)
- Fox Point (Photos | Homes For Sale)
- Mequon (Photos | Homes For Sale)
- McFarland (Photos | Homes For Sale)
- Muskego (Photos | Homes For Sale)
- Sussex (Photos | Homes For Sale)
- New Berlin (Photos | Homes For Sale)
- Pewaukee (Photos | Homes For Sale)
- Verona (Photos | Homes For Sale)
- Whitefish Bay (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 Wisconsin.
Rich people not your cup of tea? Feel free to check out some more reading about Wisconsin:
How We Determined The Richest Places In Wisconsin 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 143 places with more than 5,000 people in Wisconsin, we ranked each place from 1 to 143 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, Elm Grove, crowned the “Richest Place In Wisconsin For 2018”.
You can learn more about the top ten below or skip to the end to see the rankings for all 143 places.
Fox Point is a village in Milwaukee County, Wisconsin, United States. The population was 6,701 at the 2010 census.
Mequon (/mkwn/ MEK-won) is a city in Ozaukee County, Wisconsin, United States. The population was 23,132 at the 2010 census.
Muskego is a city in Waukesha County, Wisconsin, United States. As of the 2010 census, the city had a population of 24,135. Muskego is the fifth largest community in Waukesha County. The name Muskego is derived from the Potawatomi Indian name for the area, “Mus-kee-Guaac”, meaning sunfish. The Potawatomi were the original inhabitants of Muskego. There are three lakes within the city’s boundaries.
Sussex is a village in Waukesha County, Wisconsin, United States. It is approximately 19 miles (31 km) northwest of Milwaukee and 9 miles (14 km) north of Waukesha. The village is 7.24 square miles (19 km2) at an elevation of 930 feet. The population was 10,518 at the 2010 census. It is part of the Milwaukee metropolitan area.
New Berlin is a city in Waukesha County, Wisconsin, United States. The population was 39,584 at the 2010 census, making it the second largest community in Waukesha County after the city of Waukesha.
Pewaukee is a city in Waukesha County, Wisconsin. The population was 13,195 at the 2010 census. The Village of Pewaukee, which was incorporated out of the town before it incorporated as a city, is surrounded by the city.
Verona is a city in Dane County, Wisconsin, in the United States and is a suburb of Madison. The population was 10,619 at the 2010 census. The city is located ten miles southwest of downtown Madison within the Town of Verona. It is part of the Madison Metropolitan Statistical Area.
There You Have It – The Wealthiest Places In Wisconsin For 2018
Like we said earlier, when we set out to identify the richest places in Wisconsin, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Wisconsin.
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 Wisconsin, according to data:
2nd Poorest: Milwaukee
3rd Poorest: Antigo
For more Wisconsin reading, check out:
- 10 Safest Places In Wisconsin
- 10 Best Places To Raise A Family In Wisconsin
- 10 Cheapest Places To Live In Wisconsin
Detailed List Of The Richest Cities In Wisconsin
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