Ohio is a basic state of the “Previous Midwest”, with main facilities of business and manufacturing having diminished during the last half-century and new sectors and occupations rising to interchange them. Whereas the state has seen deindustrialization leading to a decline in inhabitants declines in cities like Cleveland and Cincinnati, the state capital of Columbus is flourishing. In the meantime, Ohio can be a closely agricultural state, making it fairly numerous economically.
In a collection of latest research, we analyzed and recognized the 50 richest cities in Michigan in addition to the richest cities in Texas. This time round we’re going to establish and give attention to the richest cities in Ohio.
Learn on to search out out what the richest metropolis in Ohio is, in addition to the highest 50 wealthiest cities within the state.
What Is the Richest Metropolis in Ohio?
To be able to establish the richest cities in Ohio, we sourced a number of datasets from the Census Bureau’s 2021 American Neighborhood Survey 5-12 months Estimates (which is the newest knowledge accessible), together with median family earnings, imply family earnings, median residence worth, and median property taxes paid. Taking these 4 metrics collectively, we analyzed and compiled an inventory of the highest 50 richest cities in Ohio.
It’s important to notice, nonetheless, some essential quirks in terms of Census knowledge. For instance, the Census Bureau measures median family incomes as much as $250,000, with households incomes extra being designated as “$250,000+”. Moreover, the Census does this with median residence worth, which matches as much as $2 million and something above that being denoted as “$2,000,000+”. Lastly, the identical parameters apply to monitoring median property taxes paid by owner-occupied households, which go as much as $10,000 and any quantity above that’s expressed as “$10,000+”.
In consequence, imply (common) family earnings was significantly helpful in our evaluation as a result of, not like median family earnings, imply family earnings has precise values for each metropolis in Ohio. All 4 of those metrics have been scored, added up, after which ranked by the cities’ mixed scores.
Under you’ll discover a desk displaying the highest 50 richest cities in Ohio and their respective greenback quantities for every metric:
Utilizing our four-factor metric of median family earnings, common family earnings, median residence worth, and median property taxes paid, the richest metropolis in Ohio is Looking Valley. It is a village with a inhabitants of simply over 760 individuals and solely 306 households. Positioned in Cuyahoga and Geauga counties, Looking Valley is about 26 miles east of Cleveland. Though the median family earnings in Looking Valley is just $163,333, with many different Ohio cities having increased incomes, town’s common family earnings of $355,075 is the third-highest in Ohio. What’s extra, what makes Looking Valley the wealthiest metropolis in Ohio is its median residence worth of over $1.46 million — the best in Ohio — and the truth that its median property taxes paid exceeds $10,000. No different Ohio metropolis’s median residence worth comes near that of Looking Valley’s. Maybe not surprisingly, the most important occupational group in Looking Valley is Administration Occupations (30.7% of the workforce), based on Information USA, therefore the excessive incomes.
The No. 2 richest metropolis in Ohio is Coldstream, having a complete of 450 households and comparable in measurement to No. 1 Looking Valley. Coldstream is situated in Hamilton County, southeast of Cincinnati, alongside the banks of the Ohio River. The median family earnings in Coldstream is in extra of $250,000 and its common family earnings is $371,209 — the best within the state. And whereas the median property taxes paid is in extra of $10,000 a 12 months, what brings Coldstream all the way down to the No. 2 wealthiest metropolis in Ohio is the truth that its median residence worth is $623,000, which is lower than half that of Looking Valley’s corresponding worth.
No. 3 is the Village of Indian Hill (typically simply known as Indian Hill), which has a inhabitants of roughly 6,080 and a pair of,364 complete households. Additionally situated in Hamilton County like Coldstream, Indian Hill is northeast of Cincinnati. Indian Hill’s common family earnings of $361,102 is the third-highest in Ohio. In the meantime, town’s median residence worth of $918,800 is second solely to Looking Valley’s $1.46 million.
The No. 4 richest metropolis in Ohio is Bentleyville, a metropolis of solely 274 households situated in Cuyahoga County, about 20 miles to the southeast of Cleveland. The median family earnings in Bentleyville is $224,286, which is the third-highest in Ohio, behind No. 2 Coldstream and No. 5 Harmony Hills. Moreover, Bentleyville’s common family earnings of $351,045 is the fourth-highest within the state. The median property taxes paid by householders in Bentleyville is in extra of $10,000, whereas the median residence worth is $626,300. The 2 largest occupational teams by employment are Administration Occupations, accounting for 25.2% of the workforce, and Enterprise & Monetary Operations Occupations, accounting for 17.2%, based on Information USA.
The No. 5 richest metropolis in Ohio — Concorde Hills — is a Census-Designated Place (CDP) situated in Sycamore Township, northeast of Cincinnati. Concorde Hills is one among two locations in Ohio to have a median family earnings in extra of $250,000. Apparently, although, its imply family earnings is definitely lower than the median earnings — $233,785. A full 47.2% of the workforce are employed in Administration Occupations and 32.3% are employed within the Skilled, Scientific, & Technical Companies sector, based on Information USA.
Wanting on the high 50 richest cities in Ohio, the largest metropolis is No. 18 Dublin, with 17,344 complete households and a inhabitants of greater than 49,000 individuals. Unfold throughout Franklin, Delaware and Union counties, Dublin is a rich suburb of Columbus. Its median family earnings of $145,828 is impressively excessive for such a big city.