by Kristen Carney
Updated: December 17, 2024
The richest city in Michigan is Lake Angelus in Oakland County with an average household income of $391,627 as of 2023. While exceptionally affluent, Lake Angelus only has a population of 288 as of 2023. The richest city in Michigan with at least 5,000 people is Birmingham in Oakland County with an average household income of $240,711 as of 2023 and 21,434 people as of 2023 according to the most current Census data available (citation).
Rank | City | County | Population | Average Income | Median Income |
---|---|---|---|---|---|
1 | Lake Angelus | Oakland | 288 | $391,627 | $212,368 |
2 | Orchard Lake Village | Oakland | 2,206 | $357,472 | $212,813 |
3 | Bloomfield Hills | Oakland | 4,377 | $350,690 | $200,318 |
4 | Village of Grosse Pointe Shores | Macomb; Wayne | 2,542 | $274,985 | $182,000 |
5 | Birmingham | Oakland | 21,434 | $240,711 | $153,125 |
6 | Ada | Kent | 14,496 | $237,416 | $171,047 |
7 | Glen Arbor | Leelanau | 780 | $235,549 | $112,813 |
8 | Bloomfield charter township | Oakland | 43,748 | $231,611 | $157,300 |
9 | Ann Arbor charter township | Washtenaw | 4,882 | $230,417 | $148,393 |
10 | Southfield township | Oakland | 14,613 | $227,951 | $177,087 |
11 | Huntington Woods | Oakland | 6,260 | $225,070 | $188,229 |
12 | East Grand Rapids | Kent | 11,429 | $222,936 | $168,487 |
13 | Grosse Pointe Farms | Wayne | 9,757 | $222,034 | $160,589 |
14 | Novi township | Oakland | 159 | $212,914 | $159,375 |
15 | Oakland charter township | Oakland | 20,241 | $212,310 | $169,765 |
16 | Webster | Washtenaw | 6,526 | $208,513 | $156,200 |
17 | Pleasant Ridge | Oakland | 2,577 | $197,870 | $161,058 |
18 | Grosse Pointe | Wayne | 5,449 | $197,528 | $141,985 |
19 | Scio | Washtenaw | 17,572 | $196,250 | $137,269 |
20 | Ross | Kalamazoo | 4,868 | $193,997 | $106,563 |
We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. If you haven’t thought about median versus average since your last standardized test, you aren’t alone. Here’s what they are:
Now let’s say you had the following simplified set of income data.
Household 1: $30,000
Household 2: $50,000
Household 3: $1,000,000
The average income for this set is $360,000. The outlier data point ($1,000,000) skews the average WAY up. Conversely, the average income would be skewed WAY down if someone had an income of $500. The median income for the same data set is $50,000. Outlier data doesn’t skew the median.
So most business owners should use the median income as a true indicator of wealth, because it provides a more accurate representation of a typical income, especially in areas with significant income disparity.
If your target market is high-income households, the average income may be more relevant. This is because the average income can highlight the presence of a higher concentration of wealthy individuals, which is beneficial for luxury goods and services marketing. We’re using average income on this page because using the Census’s highest reported median value of $250,001 could result in multiple ties for the richest geography.
The Census' American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, ensure data consistency, and simplify reporting. A "jam value" in survey data refers to a placeholder or default value used when actual data points are unavailable, incomplete, or exceed certain thresholds. We represent this jam value as $250,001 to make it easy for you to sort.
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United States Census Bureau. Annual Estimates of the Resident Population: April 1, 2020 to July 1, 2023. U.S. Census Bureau, Population Division. Web. May 2024. http://www.census.gov/.
United States Census Bureau. B01001 SEX BY AGE, 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
United States Census Bureau. B19013 Median Household Income, 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
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