Wealth, according to Merriam-Webster, is an “abundance of valuable material possessions or resources.” Abundance is relative, of course. While the U.S. government defines the poverty level annually (it is currently $12,880 for individuals, $26,500 for families of four, with slightly higher figures for Alaska and Hawaii), there is no equivalent official definition of wealth.
In purely monetary terms, it might be reasonable to propose that you’re wealthy if your annual household income is in the top 20% nationwide. But exactly what that means varies from state to state. In some, about $95,000 per annum would get you to that level, while in others it’ll take more than $170,000. And of course that’s small potatoes compared to the truly wealthy — here is the richest person of all time from your state.
In determining the richest places in the Midwest, 24/7 Wall St. has ranked the median household income in the approximately 20,000 places with 500 or more residents using data from the U.S. Census Bureau’s 2019 American Community Survey.
We also reviewed the percentage of homes valued above $200,000 and — adding in education level, which is closely tied to earning potential — the number of adults with at least a bachelor’s degree. All data are 5-year averages through 2019. We only considered places where less than 25% of the population are enrolled in college or graduate school, as the presence of a large student population can skew income statistics.
Illinois comes out on top by these measures, with eight of the 25 richest places in the region. Missouri and Ohio come next, with four a piece. There are also three affluent locations in Minnesota, two in Michigan, and one each in Indiana, Wisconsin, North Dakota, and Kansas. The top six, however, share a first-place tie in terms of median household income.
Click here to see the richest places in the Midwest.
25. Hinsdale, Illinois
> Median household income in 2019: $203,368 — #150 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 80.8% — #211 out of 29,320 places
> Pct of households with home values above $200,000: 79.2% — #918 out of 29,320 places
> Total adult population in 2019: 17,710
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24. New Albany, Ohio
> Median household income in 2019: $203,409 — #149 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 78.5% — #281 out of 29,320 places
> Pct of households with home values above $200,000: 84.9% — #533 out of 29,320 places
> Total adult population in 2019: 10,925
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23. The Village of Indian Hill, Ohio
> Median household income in 2019: $207,174 — #138 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 87.0% — #99 out of 29,320 places
> Pct of households with home values above $200,000: 86.8% — #408 out of 29,320 places
> Total adult population in 2019: 5,762
22. Riverwoods, Illinois
> Median household income in 2019: $207,188 — #136 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 77.6% — #311 out of 29,320 places
> Pct of households with home values above $200,000: 83.1% — #646 out of 29,320 places
> Total adult population in 2019: 3,618
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21. Dune Acres, Indiana
> Median household income in 2019: $207,500 — #135 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 72.4% — #541 out of 29,320 places
> Pct of households with home values above $200,000: 52.1% — #3,505 out of 29,320 places
> Total adult population in 2019: 198
20. Bentleyville, Ohio
> Median household income in 2019: $208,125 — #133 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 84.3% — #140 out of 29,320 places
> Pct of households with home values above $200,000: 95.3% — #112 out of 29,320 places
> Total adult population in 2019: 902
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19. Kildeer, Illinois
> Median household income in 2019: $211,063 — #130 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 78.0% — #292 out of 29,320 places
> Pct of households with home values above $200,000: 94.7% — #121 out of 29,320 places
> Total adult population in 2019: 4,024
24/7 Wall St.18. Long Grove, Illinois
> Median household income in 2019: $214,073 — #118 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 70.0% — #668 out of 29,320 places
> Pct of households with home values above $200,000: 88.2% — #339 out of 29,320 places
> Total adult population in 2019: 7,963
17. Lake Angelus, Michigan
> Median household income in 2019: $214,375 — #115 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 70.7% — #631 out of 29,320 places
> Pct of households with home values above $200,000: 79.7% — #882 out of 29,320 places
> Total adult population in 2019: 274
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16. Ladue, Missouri
> Median household income in 2019: $214,875 — #112 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 82.4% — #181 out of 29,320 places
> Pct of households with home values above $200,000: 93.2% — #151 out of 29,320 places
> Total adult population in 2019: 8,601
15. Oconomowoc Lake, Wisconsin
> Median household income in 2019: $216,250 — #106 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 71.2% — #601 out of 29,320 places
> Pct of households with home values above $200,000: 64.2% — #2,129 out of 29,320 places
> Total adult population in 2019: 583
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14. Frontenac, Missouri
> Median household income in 2019: $217,768 — #103 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 82.8% — #171 out of 29,320 places
> Pct of households with home values above $200,000: 88.8% — #316 out of 29,320 places
> Total adult population in 2019: 3,513
13. Woodland, Minnesota
> Median household income in 2019: $223,125 — #98 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 78.3% — #285 out of 29,320 places
> Pct of households with home values above $200,000: 83.4% — #625 out of 29,320 places
> Total adult population in 2019: 439
12. Westwood, Missouri
> Median household income in 2019: $225,000 — #89 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 78.8% — #266 out of 29,320 places
> Pct of households with home values above $200,000: 89.9% — #259 out of 29,320 places
> Total adult population in 2019: 310
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11. Minnetonka Beach, Minnesota
> Median household income in 2019: $225,313 — #88 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 72.1% — #555 out of 29,320 places
> Pct of households with home values above $200,000: 83.7% — #610 out of 29,320 places
> Total adult population in 2019: 611
10. Kenilworth, Illinois
> Median household income in 2019: $227,404 — #84 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 93.1% — #52 out of 29,320 places
> Pct of households with home values above $200,000: 90.1% — #246 out of 29,320 places
> Total adult population in 2019: 2,460
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9. Barton Hills, Michigan
> Median household income in 2019: $227,500 — #83 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 84.5% — #133 out of 29,320 places
> Pct of households with home values above $200,000: 81.4% — #774 out of 29,320 places
> Total adult population in 2019: 342
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8. Golf, Illinois
> Median household income in 2019: $237,750 — #66 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 71.2% — #601 out of 29,320 places
> Pct of households with home values above $200,000: 84.6% — #552 out of 29,320 places
> Total adult population in 2019: 481
7. Glencoe, Illinois
> Median household income in 2019: $248,851 — #48 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 87.8% — #88 out of 29,320 places
> Pct of households with home values above $200,000: 86.2% — #457 out of 29,320 places
> Total adult population in 2019: 8,888
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6. Hansboro, North Dakota
> Median household income in 2019: $250,000+ — tied for #1 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 50.0% — #2,449 out of 29,320 places
> Pct of households with home values above $200,000: 0.0% — #25,757 out of 29,320 places
> Total adult population in 2019: 22
5. Sunfish Lake, Minnesota
> Median household income in 2019: $250,000+ — tied for #1 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 72.9% — #517 out of 29,320 places
> Pct of households with home values above $200,000: 83.5% — #622 out of 29,320 places
> Total adult population in 2019: 542
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4. Hunting Valley, Ohio
> Median household income in 2019: $250,000+ — tied for #1 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 82.1% — #189 out of 29,320 places
> Pct of households with home values above $200,000: 81.7% — #747 out of 29,320 places
> Total adult population in 2019: 763
3. Winnetka, Illinois
> Median household income in 2019: $250,000+ — tied for #1 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 92.3% — #56 out of 29,320 places
> Pct of households with home values above $200,000: 79.0% — #927 out of 29,320 places
> Total adult population in 2019: 12,428
2. Mission Hills, Kansas
> Median household income in 2019: $250,000+ — tied for #1 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 90.2% — #70 out of 29,320 places
> Pct of households with home values above $200,000: 88.3% — #333 out of 29,320 places
> Total adult population in 2019: 3,574
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1. Country Life Acres, Missouri
> Median household income in 2019: $250,000+ — tied for #1 out of 29,320 places
> Adults with a bachelor’s degree in 2019: 54.7% — #1,872 out of 29,320 places
> Pct of households with home values above $200,000: 85.7% — #476 out of 29,320 places
> Total adult population in 2019: 75
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