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Want to know how to impress your family and friends, tell them that you live in one of Wisconsin's richest places because these places are super rich.
Wisconites might think that they live in one of the richest states because they house the Green Bay Packers, but it's really because the economy in this state is pretty strong. So, HomeSnacks decided to see just where Wisconsin's economy is housing most of the wealth: we created a list of the top ten richest places in Wisconsin for 2020 and listed them below.
How did we calculate the where the 'Richie Rich' live in America's Dairyland? Well, we looked at the latest Census data from the American Community Survey for 141 Wisconsin cities with 5,000 residents. We then looked at a places median income and their unemployment and poverty rate and assigned each a score. Let's just say, if you live in the greater Milwaukee area, Cheesehead land, or the Madison area, you are doing just fine in the financial department. You are also doing just fine in the safety department too. Many of Wisconsin's richest places are also the state's safest.
So, want to know where Wisconsinites pop bottles of Dom for breakfast and eat expensive caviar as a snack? Keep reading.
At the end of the day, here's the set of the 10 richest places in Wisconsin for 2020:
- Fox Point (Photos | Homes For Sale)
- Elm Grove (Photos | Homes For Sale)
- Hartland (Photos | Homes For Sale)
- Whitefish Bay (Photos | Homes For Sale)
- Pewaukee (Photos | Homes For Sale)
- Waterford (>Homes For Sale)
- Verona (Photos | Homes For Sale)
- Kronenwetter (Photos | Homes For Sale)
- Mequon (Photos | Homes For Sale)
- Richfield (>Homes For Sale)
Now, it's not going to be as easy as just packing up and moving to one of Wisconsin's richest places, if that's your plan. You're going to have to find a good job: one that pays close to $100,000/year. This shouldn't be too difficult considering the unemployment rate in many of The Badger State's richest places is below the national average.
So, how does one get their hands on one of these shiny, Wisconsin gems: where living your best life requires a boatload of money? Well, you can start by taking a look at our list below.
But first, what's the richest place in Wisconsin for 2020? According to the latest data, that would be Fox Point.
The rest of Wisconsin's richest places are just a keystroke away. And if you don't find what you're looking for there, head to the bottom.
Rich people not your cup of tea? Feel free to check out some more reading about Wisconsin:
The 10 Richest Cities In Wisconsin For 2020
Fox Point is a village in Milwaukee County, Wisconsin, United States. The population was 6,701 at the 2010 census.
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.
Kronenwetter is a village in Marathon County, Wisconsin, United States. It is the largest village by land area in the state of Wisconsin, as well as in the entire United States, and the third-largest community by population in Marathon County. It is part of the Wausau, Wisconsin Metropolitan Statistical Area. As of the 2010 census, the population of Kronenwetter was 7,210, an increase from the 2000 census which had the community at 5,369.
Mequon is a city in Ozaukee County, Wisconsin, United States. The population was 23,132 at the 2010 census.
How We Determined The Richest Places In Wisconsin 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 141 places with more than 5,000 people in Wisconsin, we ranked each place from 1 to 141 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, Fox Point, crowned the "Richest City In Wisconsin 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 141 places.
There You Have It - The Wealthiest Places In Wisconsin For 2020
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:
- Best Places To Retire In Wisconsin
- Best Places To Raise A Family In Wisconsin
- Safest Places In Wisconsin
Detailed List Of The Richest Cities In Wisconsin
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