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Top 10 Wealthiest Midwest Cities (With a Population Over 50,000)

By Edited Sep 2, 2016 1 1

When it comes to creating top ten lists on wealthy cities in a specific region, there are many factors that one can use to figure wealth. If you have read my last article on the subject, Top 10 Wealthiest Illinois Suburbs of Chicago, then you will note that I used per capita income as the sole determinant in creating that list. However, since this list is considering only those cities with 50,000 people or more in the Midwest, I felt that household income was a truer way of determining overall wealth than per capita income. For purposes of this article the "Midwest" consists of Ohio, Indiana, Illinois, Wisconsin, Minnesota, North Dakota, South Dakota, Nebraska, Iowa, Missouri and Kansas. So without further prelude, please enjoy the list!

Naperville, Illinois

www.riverviewford.com
Credit: www.riverviewford.com

Population: 142,773

Median Household: $98,488

Median Home: $389,000

 Once a quaint farming town, Naperville has quickly turned into the fifth largest city in the state of Illinois and the wealthiest city in the Midwest with a population over 50,000. In 2006, Money Magazine called this suburban city of Chicago the second best place to live in America and with its scenic downtown, chic stores and immense choice of wine bars and eateries, who can blame them. If there is one bone to pick with Naperville (besides the "filled train station parking lot by 5am problem"), it is that its residents are said to be a bit on the pretentious side, although that has not been my experience. When speaking about affluent cities in the Midwest, this fun-filled city sets the pace for the rest.

Eden Prairie, Minnesota

Top-earning towns
Credit: money.cnn.com

Population: 62,258

Median Household: $93,717

Median Home: $323,132

Up northwest of Illinois sits a much different type of city in Eden Prairie. With rolling hills, large lakes, 170 miles of multi-use trails and 2,250 acres of parks, Money Magazine named this wealthy city the best place to live in America in 2010. Located 11 miles southwest of Minneapolis, Eden Prairie's high median household income is one of the highest in Minnesota.

Maple Grove, Minnesota

Maple Grove, MN
Credit: www.warriorhomebuyers.com

Population: 61,657

Median Household: $92,605

Median Home: $260,151

In the northwest region of the Minneapolis-St.Paul metro lays "The Groovy Grove", as it has come to be known by Minnesotans. Maple Grove is second, only behind Bloomington (home of The Mall of America), for most retail stores in the state. The city houses Minnesota's first "lifestyle center", a 412,000 square foot mid-century style American village that encompasses stores that improve ones lifestyle like William-Sonoma and Pottery Barn. There is no denying that with a median household income of $92,605 and a relatively low median home price, residents of Maple Grove have plenty of discretionary income to play with on the weekends.

West Bloomfield Township, Michigan

www.mihomesrealestate.com
Credit: www.mihomesrealestate.com

Population: 64,690

Median Household: $89,635

Median Home: $275,300

This wealthy Midwest city should come to no surprise to most, as the township of West Bloomfield has graced the top of wealthy city lists for years, even making it as high as #6 on the Highest-Income Places in the United States with a Population over 50,000 list in recent years. While rapper Marshall Mathers resides in West Bloomfield, the city is also known for its large Jewish population.

Carmel, Indiana

Carmel Wine Bar Shiraz Cafe
Credit: shirazwinecafe.com -

Population: 84,565

Median Household: $87,133

Median Home: $304,340

The wealthy Midwest city of Carmel was CNN Money Magazine's top choice for "Best Places to Live in America" in 2012 and is in one of the fastest growing counties in the nation. This affluent city also has more roundabouts than any other city in the country, demolishing 78 sets of traffic signals recently and has been described as the Milton Keynes of the US.

Troy, Michigan

City of Troy Home
Credit: www.troymi.gov

Population: 80,959

Median Household: $85,127

Median Home: $231,000

Considered the safest city in Michigan and the 19th safest in the nation, Troy's affluence is only one reason to consider living here, as in 2008 it was also considered the fourth most affordable city to live in in the United States. If that isn't enough to tempt you, hockey fans (most of Michigan's population) will love the fact that the Red Wings' practice training facility is located in this affluent Midwestern gem-of-a-city.

Bolingbrook, Illinois

Best Places to Live 2010
Credit: money.cnn.com

Population: 73,506

Median Household: $83,680

Median Home: $237,300

Stepping back into the Chicagoland for the next two cities, Bolingbrook neighbors Naperville to the south, and is the 17th largest city  in Illinois. Much of the rollover from Naperville extends into Bolingbrook, where even parts of the city are eligible to send their children to high schools in Naperville.

Wheaton, Illinois

Wheaton, IL - Best Places to Live
Credit: money.cnn.com

Population: 52,951

Median Household: $82,091

Median Home: $347,970

Home to the prestigious Wheaton College, this wealthy Midwestern city was listed by Money Magazine as one of the 25 highest earning towns in the United States in 2010.  Only about a 10 minute drive from Naperville (wealthiest city in the Midwest with population over 50,000), Wheaton has the Chicago area's "narrowest" store in The Popcorn Shop, which is in the alley between two buildings, using the walls of each building as its own. At just under 53,000 residents, Wheaton makes the list by the narrowest of margins to come in as the eighth most wealthy cities in the Midwest with a population over 50,000.

Plymouth, Minnesota

Plymouth, MN
Credit: www.warriorhomebuyers.com

Population: 72,928

Median Household: $81,748

Median Home: $328,300

 As you are coming to realize, Money Magazine loves the Midwest due to its low cost-of-living:income ratio. Plymouth is but another city gracing the top of "America's Best Places to Live in 2008", coming in at number one. With easy access to Minneapolis-St.Paul, Plymouth allows residents to live in a fully functioning and autonomous city while still being able to enjoy larger city life only a short drive away.

Charter Township of Canton, Michigan

45411 N Stonewood Rd, Canton, MI 48187
Credit: www.zillow.com

Population: 90,173

Median Household: $80,965

Median Home: $211,00

The tenth wealthiest city in the Midwest (with a population over 50,000) is the commuter town of Canton, about 23 miles west of Detroit and 17 miles east of Ann Arbor. One of Michigan's fastest growing cities, Canton has a very low average age of only 33, making it the youngest city on the list. When it comes to raising a family in Michigan, not many cities can compare to this one due to the high income and low home prices.

Well there you have it, the Top 10 Wealthiest Midwest Cities (with a Population over 50,000)! Please leave a comment or question bellow this article. In the mean time, check out some of my other articles:

- Top 10 Wealthiest Illinois Suburbs of Chicago

-Top 10 Wealthiest New York Suburbs of New York City

-Top 10 Wealthiest Texas Suburbs of Dallas

-Top 10 Wealthiest Florida Suburbs of Miami

-Top 10 Wealthiest Texas Suburbs of Houston

-Top 10 Wealthiest California Suburbs of San Francisco

-Top 10 Wealthiest Midwest Cities (with a population over 50,000)

-Top 10 Most Racist Countries in the World

 

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Comments

Jun 11, 2013 10:02am
NU_Law_Student
Thanks all for reading!
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Bibliography

  1. "U.S. Census Bureau." United States Census 2000. 3/06/2013 <Web >
  2. "Best Places to Live." CNN Money. 1/06/2013 <Web >
  3. "American Fact Finder." United States Census Bureau. 3/06/2013 <Web >

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