Michigan is known for its diverse communities and cities. From the vibrant culture in Detroit to the bustling business center of Grand Rapids, the state has something for everyone. If you’re looking for a city with lots of opportunity and potential, then consider exploring some of the richest cities in Michigan.
So, without further ado, let’s take a look at the most affluent cities in…
- Michigan State
- The Richest Cities in Michigan
- Traverse City
- Hickory Corners
- Rochester Hills
- Beverly Hills
- West Bloomfield
- Huntington Woods
- Grosse Pointe Farms
- Bloomfield Hills
- Education Levels in The Richest Cities
- Ethnicity in the Richest Cities
- Even More Info On Luxury Locations
- Final Thoughts
Michigan, often recognized for its thriving automotive, manufacturing, tourism, and agriculture industries, boasts a robust economy, making it one of the wealthiest states in the nation.
With a population of approximately ten million, its residents experience an ideal combination of city amenities and a charming coastal environment. Livingston County stands as Michigan’s richest county, and Bloomfield Hills, with the zip code 48304, is the state’s most affluent area.
Perfect for families…
The state’s median household income stands at around $59,000, and while the median home value of $185,000 might be lower than other states, it offers numerous benefits, such as access to high-quality education and family-oriented activities. The state is also a haven for water enthusiasts with its picturesque attractions and proximity to Chicago, just 90 miles away.
The Richest Cities in Michigan
Traverse City, a picturesque town nestled on the shores of Grand Traverse Bay, stands out as one of the wealthiest cities in the state, with a median household income of $61,000. Its economic prosperity is deeply rooted in its status as the largest producer of cherries in the United States, celebrating this heritage each year with the week-long National Cherry Festival during harvest week.
As a small-town travel destination, Traverse City boasts a rich assortment of natural attractions ranging from pristine freshwater beaches, such as the popular West Bay Public Pier and Beach, to lush forests, scenic biking trails, and vibrant vineyards. The city’s appeal extends beyond young adventure-seekers to include retirees, earning it recognition as one of the best places to retire in the country.
Nestled in the heart of Michigan, Birmingham remains proudly one of the state’s most affluent cities, boasting an impressive median household income of $126,000.
This vibrant city is a hub for those seeking the finer things in life, offering an array of upscale shopping experiences, exquisite dining establishments, and bustling nightlife options for residents and visitors alike. Birmingham’s storied past is deeply rooted in its founding by early settlers in 1821, who laid the groundwork for the historic First United Methodist Church that still graces its landscape.
A community coming together…
Nature enthusiasts will find themselves spoiled for choice, with 20 picturesque parks scattered throughout the city, including the enchanting Shain Park. This verdant oasis serves as a central gathering spot for the community, hosting a delightful array of events and summertime musical concerts that perfectly encapsulate the city’s charming blend of rich history and modern sophistication.
Situated in Barry County, Hickory Corners features a median household income of $65,000. The town’s unique name traces its origins back to 1837 when surveyors discovered a strikingly large hickory tree that has since become a symbol of the community. The seasoned roots of Hickory Corners run even deeper as Rev. Moses Lawrence, the town’s first settler, built his home there in 1834.
It is not only rich in history but also in attractions, as it is home to the esteemed Gilmore Car Museum, which houses the Michigan Motorsports Hall of Fame. Visitors to the museum are treated to fascinating displays of vintage cars, such as an iconic BMW, showcasing the town’s dedication to preserving and celebrating its remarkable heritage.
Found between Detroit and Ann Arbor in Michigan, Novi offers a unique fusion of small-town charm and metropolitan convenience for its 55,000 residents.
As one of the fastest-growing suburbs in the region, this once-sleepy town has witnessed dramatic transformations, evolving from vast farmland and open spaces into a bustling hub of modern living with a median household income of $93,000.
The past still remains…
However, remnants of Novi’s rural past can still be found at Tollgate Farm, a living testament to the area’s agricultural history. For history buffs, it is home to several significant sites, such as the Colonel Samuel White Homestead, the Jacob and Rebecca Fuerst Farmstead, and the Novi Depot.
Serving as a strategic base to the thriving cities of Detroit and Ann Arbor, Novi presents itself as an attractive destination for those seeking an optimum balance between urban lifestyle and serene surroundings.
Just 12 miles north of Detroit, Rochester Hills, Michigan, boasts a rich history that dates back to its establishment in 1817. Originally organized as Avon Township in 1835, it wasn’t until 1984 that the area was incorporated as the vibrant City of Rochester Hills we know today.
The city has garnered a well-deserved reputation as one of the best places to live, work, and raise a family in Michigan, thanks in part to its superior services provided to both residents and businesses. With a median household income of $94,000, it’s evident that the economic well-being of the community is a top priority.
Spend a day in the sun with a local cider…
Rochester Hills is also known for its popular attraction, Yates Cider Mill, where visitors and locals alike can indulge in the delicious, locally-produced cider while soaking up the area’s rich heritage. Overall, it presents an enticing combination of historical significance, strong economic growth, and a vibrant quality of life.
Nestled within Oakland County, Troy, Michigan, proudly stands as the largest city in the area, boasting a thriving community of approximately 80,000 residents. Home to a prosperous and bustling business district, it entices visitors and residents alike with its vast array of retail shops and the upscale Somerset Collection mall, solidifying its status as a premier shopping destination.
This economic strength not only yields a remarkable median household income of $104,000 but also provides a myriad of housing opportunities, ensuring a comfortable lifestyle for all who call Troy home.
Outstanding education facilities…
Complementing its economic vigor, the city’s devotion to maintaining a high standard of education only enhances its desirability. Repeatedly earning accolades as one of the safest and best places to reside in the United States, Troy, Michigan, exudes an undeniable charm that captivates both newcomers and long-time residents.
In the northern suburbs of Metro Detroit, Beverly Hills residents enjoy an exceptional quality of life with a median household income of $127,000.
A genuine haven for nature lovers and active individuals alike, the village features a vast 35 acres of nature trails, providing excellent opportunities for ice skating and sledding. At the heart of Beverly Hills lies Beverly Park, a spectacular recreational area teeming with amenities for all ages, including two playground structures, basketball and tennis courts, and a wooden nature area that invites both walking and biking enthusiasts.
A winter wonderland…
Additionally, during the winter months, visitors and locals can take advantage of the village’s very own sledding hill and ice skating rink, making it a vibrant, year-round destination for all to enjoy.
Tucked away between rolling hills and adorned with stately Victorian-era architecture, Northville transports visitors to a time when life moved at a more leisurely pace. The small-town atmosphere combined with an impressive median household income of $111,000 has earned Northville the reputation of being one of the wealthiest cities in the state.
A stroll through the Historic District reveals beautifully preserved older homes, most of which were built before the 1930s, reflecting the city’s rich past. For those looking to delve deeper into history, the Mill Race Village, established on the site of John Miller’s gristmill, captivates the imagination with historic complexes such as The New School Church, Wash Oak School, and the Cottage House.
In between exploring architectural gems, one can unwind amid the natural beauty of Hines Park.
West Bloomfield, Michigan, has earned the moniker of the “Lake Township” for its abundance of small and medium-sized lakes. Among these, the most prominent is Cass Lake – the largest in the county. Adding to its allure, Orchard Lake serves as an idyllic setting for an exclusive private country club, gracing its shore with opulence and prestige.
The town’s affluence is also evident in the financial figures, boasting a median household income of $106,000. This places West Bloomfield among the ranks of the wealthiest cities in Michigan while also making it one of the priciest places to reside in Oakland County. Delving into the elegant charm and prosperity of West Bloomfield, it comes as no surprise that the town has earned such esteemed distinctions.
Found in the vibrant Woodward Corridor and surrounded by Ten and Eleven Mile Roads, the charming “City of Homes,” Huntington Woods, is a blossoming community with a population of approximately 6,000 people.
Boasting a median household income of $136,000, this primarily residential suburb is home to nearly 2,364 single-family homes and provides residents with ample spaces to live, work, and play. As one of the top 10 best suburbs to live in in the United States, it offers not only a tranquil residential environment but also easy access to the bustling cities of Downtown Detroit, Royal Oak, Ferndale, and Birmingham.
A true dream location…
Notably, part of the renowned Detroit Zoo resides within the boundaries of Huntington Woods, while the picturesque Rackham Golf Course can be found in the southern part of the city. With the perfect blend of beautiful homes, top-notch amenities, and a convenient location, Huntington Woods is undeniably a dream suburban community in the heart of Michigan.
Grosse Pointe Farms
Snuggled in Wayne County, Grosse Pointe Farms boasts a median household income of a staggering $143,000. This prosperous community, known for its booming financial and real estate sectors, is an ideal location for young families seeking a secure and welcoming environment to call home.
At the heart of the community lies The Hill, a bustling district featuring the Central Library and historic Cottage Hospital, while two major business districts – located on Kercheval Avenue and Mack Avenue – brim with professional and personal services.
Small town feel meets big business…
Mack Avenue not only serves as the main thoroughfare connecting Grosse Pointe Farms with neighboring areas such as Grosse Pointe Park, Grosse Pointe, and Downtown Detroit but also boasts a pedestrian-friendly ambiance. Complete with convenient parking options; it truly encapsulates the harmonious blend of residential charm and thriving business opportunities.
Bloomfield Hills has an impressive median household income of $177,600. Spanning a compact five square miles, this affluent enclave boasts a unique charm with its rolling terrain, picturesque watercourses, and distinctive architecture – features that have earned it a place among the top 5 wealthiest cities in the US.
It seamlessly combines the serenity of nature with the convenience of city life, offering a suburban-rural community feel amidst lush natural parks and greenery while keeping residents connected to the bustling Metro Detroit area.
A unique community indeed…
The heart of this vibrant city is the Cranbrook House and Gardens, a sprawling 40-acre expanse that welcomes visitors and residents alike to explore its lush foliage, punctuating the 300-acre Cranbrook National Historic Landmark campus.
In this exclusive corner of Michigan, residents enjoy a higher quality of life, with the majority of them being proud homeowners. All these elements contribute to making Bloomfield Hills an utterly unique community.
Education Levels in The Richest Cities
The education levels of individuals residing in the wealthiest cities in Michigan offer a fascinating glimpse into the correlation between affluence and academic achievement.
Remarkably, the Census Bureau statistics reveal that the most prevalent education level is a bachelor’s degree, with slightly over half of the population (50.66%) holding one. A considerable proportion, 33.56%, further elevates to a master’s degree or higher.
Higher education is key…
The figures descend as we move down the educational strata: 10.19% with a high school diploma or equivalent, 4.79% with some college or associate degree, and a bare minimum of 0.80% with less than a high school diploma.
Thus, it isn’t surprising that an impressive 84.22% of people living in the richest cities in Michigan possess a bachelor’s degree or higher, revealing an undeniable connection between prosperity and higher education in this region.
Ethnicity in the Richest Cities
Looking at the demographics through the data provided by the American Community Survey (ACS), it can be seen that the majority of people living in these areas are White, making up 81.82% of the population.
However, there is also a diverse mix of other ethnic groups. For example, 7.18% of the inhabitants are Asian, and 4.62% identify as Black or African American. Additionally, 3.14% of the residents come from two or more racial backgrounds, while 2.74% identify as Hispanic. Native people make up 0.35% of the population, while another 0.13% identify as “Other.”
Even More Info On Luxury Locations
If money is no object, then we have some amazing guides for you, starting with the Richest Neighborhoods In America, followed by the 10 Richest Cities In Texas, the Richest Cities In California, and the Richest Towns In Massachusetts, as well as the 10 Richest Cities in Florida, and the Richest Towns In New Jersey.
Although it’s not just about luxury, your family’s safety obviously comes first! So, let’s take a look at the Safest Places To Live In Florida, the Safest Cities In California, and the Safest Neighborhoods In Philadelphia, along with the Safest Neighborhoods In Atlanta and the Safest Cities In Texas.
Of course, we’ve saved the best for last! Check out the Best Neighborhoods In Long Island, the Best Cities To Live In Connecticut, the Best Places To Live In Florida For Families, and the Best Neighborhoods In Brooklyn in 2023.
Whether you’re seeking a tranquil suburban escape, a vibrant business district, or a bit of both, these cities have something to offer everyone.
From their ample amenities and convenient locations to their high median incomes and beautiful homes, they are undeniable gems in the heart of Michigan and a testament to living your best life. So, if you’re looking for a vibrant suburban community that offers both convenience and luxury, look no further. You won’t be disappointed!
Happy Home Hunting!