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The 20 Richest Cities in Michigan

Grosse Pointe Shores

Michigan consistently lands in the top 10 most populated states of the United States. The state has become an important economic center due to its two peninsulas as well as being a significant automobile hub.

The state has a growing wine industry, major businesses call Michigan home, and many families have been living in the state for centuries. As a result, there are many expensive homes spread out across the state, and some households are able to boast significant incomes.

We’ve compiled a list of the 20 richest cities in Michigan, so have a look.

Methodology

With so many cities in Michigan, it’s important to look at how the 20 richest are identified. While it would be easy to look solely at home value, that wouldn’t be fair to the cities where there is a huge difference in home prices, bringing the average down. As such, we took a look at a few factors to ensure that we looked at the cost of homes as well as income.

Sites like Forbes and various real estate sites were used to identify the 20 richest cities across Michigan. We focused on three major components:

  • Median income of the households
  • Mean income of the households
  • Median home value.

Additionally, we used resources to tell us more about the cities, such as what they have to offer residents, the industries that are popular for employment, as well as where the city is in terms of proximity to a major city.

Some of the wealthiest cities have changed position on the list over the years – and some have even dropped off the list because of the way that home values change as well as how industries come and go.

20. Troy – Median Income: $107,550 / Median Home: $335,000

Troy, Michigan, is the largest and wealthiest suburb of Detroit. The city has a population of 86,000, making it the 11th-largest city in the state. The average income of residents is $100,000, which has increased steadily over the past few years. The average cost of a home is $335,000. Troy has an interesting history museum located in its village area behind the old city hall.

The museum features several things from the city’s past including an 18th-century schoolhouse, a blacksmith’s shop and a general store and offers many interesting events. Troy is home to many businesses, particularly automobile and financial businesses including Bank of America. The city also has great shopping with Oakland Mall and the upscale Sommerset Collection Mall with 180 stores.

19. Ann Arbor – Median Income: $73,726 / Median Home: $366,600

Ann Arbor is the 6th largest city in Michigan and one of the top 20 wealthiest. This city is located just southwest of Detroit and is a major contributor to the state’s economy. Ann Arbor is also home to the University of Michigan, which is Michigan’s oldest University and well known as a research University and its NCAA football team.

Ann Arbor is nicknamed “Tree Town” because the city is filled with a variety of trees, particularly Bur Oak Trees, and dense forests. The large city has a population of 121,000. The median home value has increased dramatically over the past few years, now landing at about $366,000.

The University of Michigan provides many great employment opportunities through the University and the healthcare system. The city is located on the beautiful Huron River and has several districts, including The Kerrytown Shops and the Main Street Business District.

18. Northville – Median Income: $132,568 / Median Home: $369,100

Northville is a suburb of Detroit. The town has about 6,000 residents. Home values have dropped a little, and it is suspected that it is because crime has increased slightly in the past few years.

The quaint town has many events throughout the year on the town square. These include summer concerts, farmers’ markets, Christmas and winter events, and even a chili cook-off. The North Fair Art House hosts Art Fairs. In 1919, Henry Ford purchased a plant in Northville as part of his vision to decentralize his plants.

At the time, Northville was a rural community. Northville was growing before this, however. The town grew during the Victorian era and much of the architecture proves this because many homes are Queen Anne style. In honor of the Victorian heritage, the town has a Victorian Festival, now called the Heritage Festival, each year.

17. Forest Hills – Median Income: $131,587 / Median Home: $372,000

Forest Hills is a wealthy suburb of Grand Rapids in western Michigan. Just 10 miles from Grand Rapids, this suburb is a great place to raise a family and enjoy suburban living while still very close to go to the larger city of Grand Rapids for work or entertainment. The population of Forest Hills is 28,000. Many wealthy people live in Forest Hills. The average income is around $130,000.

Home values average around $372,000 – though some homes, according to Realtor.com, can go for $950,000 or more. Much of it depends on the neighborhood as well as the size of the home.

16. Pleasant Ridge – Median Income: $134,917 / Median Home: $368,400

Pleasant Ridge is found in Oakland County and is a suburb of Detroit. It encompasses a whopping 366 acres and is home to about 2600 people. The area is popular with families because it has some amazing schools within the school district.

Pleasant Ridge is where you’ll find the Detroit Zoo, a wide array of parks and playgrounds, and lots of restaurants. The median income of the area is a bit over $140,000. Popular companies in the area include the US Post Office, the public school system, HelloWorld, and Comerica.

15. Grosse Pointe – Median Income: $125,909 / Median Home: $347,500

Grosse Pointe, Michigan was the first commuter suburb of Detroit and is one of the 4 Grosse Pointe communities. Located along the St. Clair Lake, there are many waterfront activities to enjoy in this beautiful city. The city’s population increased between 1910 and 1930.

The town is just 1 square mile, and the population is 5,500, so Grosse Pointe is one of the most densely populated towns in Michigan. The average income of residents is $125,000. The average cost of a home is $347,000. Grosse Pointe is filled with cottages, resorts, farms, and lakefront mansions. The town is also known for the 1997 John Cusack Movie, “Grosse Pointe Blank”.

14. Beverly Hills – Median Income: $148,101 / Median Home: $403,100

Beverly Hills is a village and suburb of Detroit. There must be something about the name, considering that it’s also one of the most expensive places to live in California! The village is 4.04 square miles and has a population of 10,500. The average income of residents is $148,000. The average cost of a home is $400,000.

Beverly Hills, Michigan is a great place for the wealthy to live because it’s quiet and peaceful and just a short distance from the big city of Detroit. There are several parks and many options for dining as well as art and cultural events. Trip Advisor also boasts a number of things to do, including Royal Oak Memorial Park, book shops, bars and clubs, and more.

13. Birmingham – Median Income: $137,907 / Median Home: $580,200

Birmingham, Michigan, is a wealthy suburb of Detroit located halfway between Detroit and Pontiac. The population is 21,000. The average income of residents is $137,000. Some of the top industries that people work within are IT, analytical instruments, and machinery/manufacturing. The average cost of a home in the city is $580,000.

The beautiful city of Birmingham is filled with parks with a lot of activities, including nature trails, sledding hills, playgrounds, golf courses, tennis courts, and baseball fields. The town’s central park, Shain Park, is the site of many outdoor events, including concerts, art shows, and the Village Fair.

12. East Grand Rapids – Median Income: $145,000 / Median Home: $409,200

East Grand Rapids, Michigan is the wealthiest part of the Grand Rapids metropolitan area. Located in western Michigan, East Grand Rapids is 3.4 square miles and has a population of about 11,000. The average income of residents is $145,000. The average price of a home in the city is $409,000. While the population hasn’t changed dramatically, the economy has been booming over the past few years, allowing incomes and home prices to soar.

There are two large lakes that are found in the city: Reeds Lake and Fish Lake. Both have beautiful parks surrounding them as well, offering places to walk, bike, and enjoy other recreational activities. There are many options for shopping and dining in East Grand Rapids. East Grand Rapids was President Gerald Ford’s hometown. His Presidential Library is located in East Grand Rapids.

11. Grand Beach – Median Income: $103,000 / Median Home: $958,300

As the name implies, Grand Beach is on the beach. In fact, it has one of the most incredible shores that you can imagine, complete with a boardwalk, as well as high-value homes throughout the area. It’s not uncommon to find homes for sale with beachfront property, and many of those go for significantly more than the median home price of $958,000.

While many of the activities involve spending time on the water, such as paddling and kayaking on the Galien River, there’s also a casino in town – Four Winds Casino. This helps to bring in a significant amount of tourism and revenue for the area.

10. Huntington Woods – Median Income: $157,665 / Median Home: $386,100

Huntington Woods is a small suburb of Detroit that’s about 15 miles northwest of downtown Detroit. The city has just 1.47 square miles. Half of the land is the Detroit-owned Rackham Golf Course. With a population of 6,300, Huntington Woods is called “The City of Homes”. The average income is $157,000, and the average cost of a home in the city is $360,000.

Niche.com identifies the city as one of the best cities to live in Michigan. Much of this has to do with the public schools, the low level of crime, and even the nightlife. There’s not a lot of diversity in this area, which is the only area that it ranks low in. Overall, it’s graded as an A+. This small town is also the hometown of actress Kristen Bell.

9. Traverse City – Gross Income: $61,056 | Median Home: $320,000

Traverse City is located in northern Michigan. It offers beautiful countryside filled with golf courses, wineries, and ski slopes, as well as the beaches of Grand Traverse Bay. The number of wineries has been growing over the past several years, which is why Michigan is now one of the top five wine-producing states in the United States.

Sleeping Bear Dunes National Lakeshore makes the city a popular tourist destination, with about half a million visitors each year. The beautiful and peaceful city attracts many retirees. The population is about 15,000, and the average cost of a home is $320,000. The average household income of residents is $61,000.

8. Glen Arbor – Median Income: $186,250 / Median Home: $622,600

Glen Arbor Township is a very small area of Michigan with a population of only 859. It sits beautifully in Leelanau County between Glen Lake on one side and Sleeping Bear Bay on the other side. As a result of all of the water nearby, the population grows significantly during the summer as many tourists come to enjoy the waterside activities and the amazing beaches.

The homes within the area have been getting a boost in value lately as more people want a piece of Glen Arbor. It’s why many homes are easily over $600,000 – and it’s estimated that homes could be worth even more in the coming years.

7. Frankin – Median Income: $155,703 / Median Home: $612,900

Franklin, Michigan, is a small town, but it makes it to the list because the median home price is over $600,000. It’s a northern suburb of Detroit, and it only has a population of about 3100. The area is well known for its large, estate-style homes.

There are always things to do in Franklin – and it’s noted for the Franklin Hill Country Club. There’s also a cider mill, art galleries, and plenty of special events throughout the year.

6. Michiana – Median Income: $161,136 / Median Home: $648,000

Michiana, Michigan, is a neighboring town to another place on the list of wealthiest cities that we have here – Grand Beach. This town is located within Berrien County and is part of the southwest corner of the state. It’s a popular (and expensive) area of Michigan because of being on the shoreline of Lake Michigan.

It’s common to see homes hit the market at $600,000 or more. While many people in the area are retired, there are plenty of job opportunities, too. Top employers, according to Southwest Michigan First, include Bosch, Abbott Laboratories, FedEx, and more.

5. Grosse Pointe Shores – Median Income: $147,391 / Median Home: $584,800

The picturesque town of Grosse Pointe Shores is one of the wealthiest cities in Michigan. Located on Lake Claire just 15 miles northeast of Detroit, the city is home to the longest shoreline of all of the Grosse Pointe communities. The family-friendly city has lots to do, including dining, shopping, river tours, parks, and waterfront.

The Detroit Experience Factory is located in Grosse Pointe Shores, as well as the Anne Scripps Conservatory and historic mansions, including that of Edsel and Eleonore Ford. The population of the city is only about 2600, which is down slightly based on the recent census.

4. Bloomfield Hills – Median Income: $188,828 / Median Home: $852,900

The small town of Bloomfield Hills, a northern suburb of Detroit, is the wealthiest city in the state of Michigan. The population is just above 4,400. The average income is $188,000, and the median house value is $850,000 and steadily on the rise. There are also homes worth millions located in Bloomfield Hills. It’s also why a number of celebrities have called this area home over the years, including Robin Williams, Bob Woodruff, Roger Penske, Selma Blair, and Aretha Franklin

The town was ranked in the top 20 wealthiest cities in the Midwest. Established in 1820, Bloomfield Hills has many historic sites. It is home to the Cranbrook Education Community and the Cranbrook Academy of Art. The city is the headquarters of several companies, including Acme Group, Fairway Products, and Great Lakes Filters.

3. Lake Angelus – Median Income: $186,842 / Median Home: $1.06 million

Lake Angelus is an affluent area outside of Detroit. It is found in Oakland County, and while it only has a population of 287, there are plenty of reasons why this city belongs on the list. It is rich with amenities and is considered very exclusive. The area spans 477 acres, tapping into parts of both Auburn Hills and Waterford Township.

With such a small population, the housing market is not very active. Most people who own in Lake Angelus choose to stay. However, Zillow does show that the housing options are expensive — with some easily reaching $1.5 million and higher.

2. Orchard Lake Village – Median Income: $203,700 / Median Home: $727,000

Orchard Lake is one of the wealthiest areas because of the many lakes as well as its private country club, high-end shopping, and dining, and more. It is located near West Bloomfield, which is just outside of Detroit. The area is home to quite a few cultural events and is extremely family-friendly.

Although the median home price is $727,000, it’s not uncommon for many homes to be priced at several million dollars. When you look at the cost of Orchard Lake Country Club, with annual fees being rumored to be as high as $10,000, you can understand just how wealthy of an area Orchard Lake Village really is.

1. Barton Hills – Median Income: $250,000 / Median Home: $1.1 million

Baton Hills has obtained the top spot in our list of wealthiest cities of Michigan this year because of an impressive median home value of $11 million. With this being the median home value, obviously, there are homes that are worth even more. This area spans 487 acres and is a part of the Ann Arbor metropolitan area. It only has a population of 316. You won’t find any homes alike, which is what makes this area so heavily sought after when it comes to real estate. You’ll also find quite a few homes that overlook Barton Pond, part of the Huron River system.

While there isn’t a lot of diversity when you look at the area’s demographics, the area is certainly impressive in other ways – including the amazing homes, the Bird Hills Nature Area, as well as the Nichols Arboretum, located at the University of Michigan.

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Bill Vix

Written by Bill Vix

Bill Vix writes blogs, articles, and website content for clients who want the facts presented in a way that is digestible to their target audience. He graduated from Clarion University of Pennsylvania in 2009 as an English major with a concentration in Professional Writing. After graduation, he pursued graduate degrees in both Library Science and Communication. With over 10 years of professional writing experience, his ultimate goal is to simply and effectively communicate useful information using the most technologically relevant methods.

Read more posts by Bill Vix

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