RENT OWN SELL
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RENT OWN SELL
Newyork
Michigan is home to some of the wealthiest cities in the United States. These cities are known for their high median incomes, low poverty rates, and high home values.
In this blog post, we will take a look at the 16 richest cities in Michigan. We will provide key statistics for each city, such as population, median home price, unemployment rate, poverty rate, median income, and median rent.
East Grand Rapids, located in Michigan, is renowned as the wealthiest city in the state. It boasts a robust economy, an exceptional level of education, and an enviable quality of life. With numerous Fortune 500 companies calling it home, East Grand Rapids attracts prosperity and affluence. The median household income surpasses an impressive $145,000 per year.
East Grand Rapids boasts exemplary schools, secure neighborhoods, and a diverse range of amenities. Consequently, the poverty rate in East Grand Rapids stands at less than 2%, while the median home price reaches $409,200.
Huntington Woods, located in Oakland County, Michigan, is the second richest city in Michigan. Renowned for its exquisite homes, upscale shopping options, and close proximity to Detroit, this city offers a luxurious lifestyle. The median home price in Huntington Woods stands at $386,100 while the median income reaches an impressive $157,665.
The unemployment rate stands at 2.0%, while the poverty rate slightly exceeds it at 2.2%. Huntington Woods attracts individuals seeking a superior quality of life.
Bloomfield Hills, a small city located in Metro Detroit, boasts a median household income of $177,600, making it one of the top 5 wealthiest cities in the country. Known for its picturesque rolling terrain, meandering watercourses, and distinctive architecture, Bloomfield Hills epitomizes refined elegance.
The city’s premier attraction is the Cranbrook House and Gardens, which boasts more than 40 acres of gardens. Residents of Bloomfield Hills typically have higher income levels and enjoy a suburban rural community feel. Most residents are homeowners and can enjoy the natural parks and greeneries surrounding the residential areas.
RephraseNovi, a city with a population of 66,243, is strategically located between Detroit and Ann Arbor. This prime location has made it an attractive settlement option for many.
Despite its history as farmland and open spaces, significant development took place in the 20th century, transforming Novi into a thriving urban center. Notably, the Tollgate Farm remains an exception of this transformation.
As a city, Novi is proud to showcase several historical sites that contribute significantly to its charm and rich heritage. Among these sites are the Colonel Samuel White Homestead site, the Jacob and Rebecca Fuerst Farmstead, and the Novi Depot.
The average home price here is $434,664, and the average rent is $1,514, making it one of the richest cities in Michigan.
Ranked at number 5, Northville captures the essence of a charming city in Wayne County, Michigan. Renowned for its delightful downtown area, exceptional schools, and close proximity to Detroit, it offers residents a perfect blend of urban convenience and small-town charm.
Northville boasts a vibrant community of high-profile residents, including the renowned former Detroit Lions quarterback Matthew Stafford and the accomplished NHL player Chris Chelios.
A multitude of cultural treasures also graces this city, such as the Northville Art Center and the esteemed Northville Historical Society.
In the quiet town of Northville, the median home price stands at $355,000, while hardworking residents enjoy a median income of $137,907. The unemployment rate remains low at 3.2%, and the poverty rate is 3.4%.
Plymouth, a prosperous Michigan city situated 26 miles west of Detroit, boasts a population of 9,100. Recognized for its plethora of parks and recreational spaces, this charming city also showcases an NHL-size hockey rink.
Its lively downtown area is filled with a wide array of restaurants and shops, making it a desirable destination. Additionally, Plymouth hosts numerous family-friendly events throughout the year, offering ample entertainment options for residents and visitors alike.
In Plymouth, the median income stands at $80,000 while {the median home price: {$346,000. This city is highly regarded for families due to its exceptional schools and a wide range of activities that cater to both children and adults alike.
Grosse Pointe Farms, nestled on the shores of Lake St. Clair, is a picturesque city known for its opulence and affluence, making it the seventh richest city in Michigan.
The median home price in Grosse Pointe Farms is $466,730, and the median income is $197,920. The unemployment rate is 3.2%, and the poverty rate is 2.61%.
Beverly Hills, located in Oakland County, Michigan, is a small yet prestigious city. Renowned for its exclusive residential properties, upscale shopping establishments, and tranquil streets, this charming city also serves as the hub for various industries.
It boasts a strong presence of automotive manufacturers and financial services companies, among others.
The city of Beverly Hills received its name due to its original inclusion in a larger area known as Beverly Park.
Notably, this affluent city is characterized by the presence of prominent residents, among them being former Detroit Pistons owner Bill Davidson and former NBA player Grant Hill.
Beverly Hills is the eighth richest city in the state, with a median home price of $403,100 and a median income of $148,101. The unemployment rate is 2.4%, and the poverty rate is 2.6%.
Grosse Pointe Park, situated in Wayne County, Michigan, is renowned for its exquisite homes and close proximity to Detroit. This charming city exudes a friendly atmosphere that appeals to families.
In terms of statistics, the median home price in Grosse Pointe Park stands at $380,900, while the median income reaches $123,859. Remarkably low figures are reflected in the unemployment rate of 2.6% and a poverty rate of merely 2.8%.
Grosse Pointe Park is a popular destination for those who are looking for a high quality of life. There are a number of parks and trails, making it a great place to enjoy the outdoors.
Grosse Pointe, Michigan, a beautiful and prosperous community, is located on the eastern shores of Lake St. Clair. Boasting a population of 2,262 residents, this serene city provides a peaceful retreat from the bustling urban landscape.
The city of Grosse Pointe offers an appealing option for homebuyers seeking upscale properties amidst a peaceful environment. With a median home price standing at $347,500 and an impressively low unemployment rate of 2.80%, the city showcases a robust local economy and thriving job opportunities.
Additionally, Grosse Pointe maintains a commendably low poverty rate of 3.00%, underscoring the high standard of living enjoyed by its residents.
Pleasant Ridge is another rich city in Oakland County, Michigan. It is known for its quiet streets, excellent schools, and close-knit community.
Pleasant Ridge was founded in 1927 and was originally known as “Pleasant Ridge Township.” The city was incorporated in 1953. Pleasant Ridge is located just west of Royal Oak and is a popular destination for those looking for a suburban lifestyle with easy access to the city.
The median home price in Pleasant Ridge is $368,400, and the median income is $134,917. The unemployment rate is 3.0%, and poverty rates are 3.2%.
With a population of 72,255, West Bloomfield is considered the richest city in Michigan. The city was founded in 1822, and the name “West Bloomfield” comes from the city being located west of Bloomfield Hills.
It is known for its affluence, beautiful homes, and excellent schools. The median home price in West Bloomfield is $352,000, and the median income is $137,000. The unemployment rate is 3.4%, and the poverty rate is 3.6%.
If you are looking for a place to live with a high level of affluence, Bingham Farms is a great option. The city has an unemployment rate of 3.6% and the poverty rate is 3.8%.
Founded in 1929, Bingham Farms is home to only 454 residents. The median home price in Bingham Farms is $455,100, and the median income is $180,192.
Another rich city in Michigan is Rochester Hills. It is a northern suburb of Detroit and is located within 12 miles of the city’s northern border. The city was founded in 1817 by settlers of European descent and was originally organized as Avon Township in 1835. It was incorporated into the City of Rochester Hills in 1984.
The median household income here is $80,000, while the median home price stands at a staggering $346,000.
The city is also home to a number of parks and recreation areas, including the Paint Creek Trail, the Rochester Hills Municipal Golf Course, and the Rochester Hills Sports Center.
Traverse City, Michigan, is considered to be a wealthy city. The median household income in Traverse City is $81,158, which is significantly higher than the national median of $67,521. The median home value in Traverse City is also high, at $350,000.
Traverse City is a great option if you are looking for a wealthy city with a great quality of life. The city has something to offer everyone, from families with young children to retirees.
The last city on our list is West Bloomfield Township. The median household income in West Bloomfield Township is $137,000, which is significantly higher than the national median of $67,521. This means that a large portion of the population in West Bloomfield Township earns a high income.
West Bloomfield Township is a great place to live, work, and raise a family. The township has excellent schools, safe neighborhoods, and a variety of amenities, including parks, trails, and shopping. These factors contribute to the high standard of living in the area.
According to Forbes, as of 2022, the richest city in Michigan is Barton Hills. The median household income in Barton Hills is $250,000, which is significantly higher than the national median of $67,521. The median home value in Barton Hills is also high, at $1,382,783.
Most rich people in Michigan live in areas such as Bloomfield Hills, Grosse Pointe, Birmingham, and Ann Arbor.
As you can see, these cities are all very affluent, with median incomes well above the national average. They are also home to some of the most expensive homes in the state.
If you are looking for a place to live with a high quality of life, one of these cities may be a good fit for you. However, be prepared to pay a premium for the privilege of living in one of these affluent communities.
