The 10 Richest Cities in Michigan for 2024

In this article, we'll look at the top 10 richest cities in Michigan and explore some of the demographic statistics of each to see if we can find out why they are the richest.

Before we get started, let's talk about how we determine "the richest cities" by explaining how we calculate it.

We use the mean household income for each city, which can be found on the latest American Community Survey (ACS) 5-year estimates. The ACS is an ongoing survey conducted by the US Census Bureau and, because it's updated yearly, is more up-to-date that the Decennial Survey.

The latest year we have ACS data for is 2022.

Using the mean (or average) household income, we only really have two criteria to determine the richest cities:

  1. The city must have a population of at least 500 people.
  2. The margin of error provided by the Census Bureau for the city must be less than 50% of the mean household income estimate.

Richest Cities in Michigan

If you're in a rush and just want to see the top 10 cities in Michigan, here they are, sorted by highest average household income.

The list is long, so you might have to scroll the table to see all of the cities. You can click the links in the table to view more demographic statistics about the city.

Rank City County Mean Income
1 Franklin Oakland County $284,507.00
2 Village of Grosse Pointe Shores Wayne County $269,010.00
3 Village of Grosse Pointe Shores Macomb County, Wayne County $265,552.00
4 Bingham Farms Oakland County $253,394.00
5 Ada Kent County $229,503.00
6 Bloomfield Oakland County $229,309.00
7 Ann Arbor Washtenaw County $226,095.00
8 Southfield Oakland County $216,736.00
9 Oakland Oakland County $206,843.00
10 Beverly Hills Oakland County $195,699.00

Demographic Statistics for the 10 Richest Cities in Michigan

Now that we've seen the top 10 cities in Michigan, let's take a look at some of the demographic statistics for each city.

We'll focus on the top 10 richest cities in Michigan to see if there any similarities or differences between them.

Household Income by Age

In the table below, we can compare the household income by age for each of the cities.

City Under 25 25 to 44 45 to 64 65 and Over
Franklin $0.00 $233,250.00 $217,308.00 $132,563.00
Village of Grosse Pointe Shores $0.00 $178,750.00 $250,001.00 $122,708.00
Village of Grosse Pointe Shores $0.00 $179,554.00 $247,273.00 $118,214.00
Bingham Farms $0.00 $182,361.00 $250,001.00 $172,125.00
Ada $0.00 $182,906.00 $188,343.00 $90,329.00
Bloomfield $63,896.00 $164,697.00 $212,031.00 $106,848.00
Ann Arbor $28,036.00 $108,512.00 $229,306.00 $156,125.00
Southfield $0.00 $207,857.00 $200,742.00 $99,692.00
Oakland $0.00 $177,216.00 $187,148.00 $105,781.00
Beverly Hills $0.00 $206,250.00 $197,981.00 $91,180.00

Note than any fields showing as $0 are because the data was not available from the latest ACS.

We can see from the data above that the most common age bracket for the richest cities in Michigan is 25 to 44, with 30.00% of the top earners falling into this age bracket.

The list below shows all of the top age brackets for the richest cities in Michigan.

  • 30.00% of the richest cities in Michigan were aged 25 to 44
  • 60.00% of the richest cities in Michigan were aged 45 to 64

Race and Ethnicity

We can also look at the race and ethnicity for the richest cities in Michigan. To do that, we created averages for each race reported for the city by the ACS survey.

The chart below shows the most common races living in the richest cities in Michigan:

  • 96.91% Black/African American
  • 81.31% Native
  • 7.10% Other
  • 4.66% Asian
  • 2.65% Hispanic
  • 1.24% White
  • 0.23% Hawaiian/Pacific Islander

This shows that the most common race across the richest cities in Michigan is "Black/African American".

Education Levels

Another interesting demographic to look at would be the education levels of the people living in the richest cities in Michigan.

Just like we did with the race and ethnicity numbers, we can create averages for each of the education levels the Census Bureau tracks for each city, by summing them and dividing by the number of cities we're comparing.

The chart below shows the most common education level of people living in the richest cities in Michigan:

  • Bachelor's degree
    51.37%
  • Master's degree or higher
    33.61%
  • High school diploma or equivalent
    9.45%
  • Some college or associate's degree
    4.78%
  • Less than high school diploma
    0.79%

The data shows that 84.98% of people living in the richest cities in Michigan have a bachelor's degree or higher.

Conclusion

Hopefully, this article has given you some interesting insights into why the richest cities in Michigan are so wealthy based on the common demographics between them.

In the future, we will try to add more data to this article and pull out more interesting insights from the information.

Link To or Reference This Page

We spent a lot of time downloading, cleaning, merging, and formatting the data that is shown on the site.

If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference Name Census as the source. We appreciate your support!

  • "The 10 Richest Cities in Michigan for 2024". NameCensus.com. Accessed on June 14, 2024. https://namecensus.com/demographics/michigan/richest-cities/.

  • "The 10 Richest Cities in Michigan for 2024". NameCensus.com, https://namecensus.com/demographics/michigan/richest-cities/. Accessed 14 June, 2024

  • The 10 Richest Cities in Michigan for 2024. NameCensus.com. Retrieved from https://namecensus.com/demographics/michigan/richest-cities/.