Everyone knows that the richest cities in America are found on the west and east coasts. They are home to the highest-paid jobs as well as some of the best schools and amenities. But what about Michigan?
Being one of the largest U.S. states in size, it’s not surprising that Michigan is home to some of the wealthiest areas in America.
If you are thinking of moving to Michigan then you need to know the top ten richest cities in the state. Michigan is a great place to live, work and raise a family.
Michigan has many wonderful things going for it. The cost of living is lower than in most other states, making it easier for people who want to settle down and raise kids there.
In addition, there are numerous job opportunities available throughout Michigan because of its diverse economy which includes manufacturing, agriculture, mining, and tourism among others.
Related: The 10 Most Expensive Cities to Live in Michigan
The 10 Wealthiest Cities in Michigan
The wealthiest cities in Michigan are some of the best places to live in the state. They have great schools, low crime, and everything you need to raise a family.
There are many opportunities for jobs and success. These cities have a high median household income and a low cost of living.
Here are the top ten richest cities in Michigan:
1. Bloomfield Hills – Median Household Income of $178,894
Bloomfield Hills is one of the wealthiest cities in Michigan with a median household income of $178,894. That’s nearly three times the state average of $59,584.
In addition to earning more money, people who live in Bloomfield Hills spend less on everyday expenses. The median house price in Bloomfield Hills is $599,900 — about two times higher than the state average.
However, homeowners here pay an average of $1,182 per month for their mortgage compared to the state average of $1,390. The lower mortgage rate comes from having a bigger down payment and better credit score.
A large portion of Bloomfield Hills residents work in finance, insurance, and real estate industries, or have managerial positions in other fields. The average commute for workers is about 27 minutes.
Related: The 10 Wealthiest Cities In Ohio
2. Grosse Pointe Shores – Median Household Income of $161,944
With a household income of $161,944, Grosse Pointe Shores is one of the wealthiest cities in Michigan with a median household income higher than 95.0% of the other cities in the state.
Grosse Pointe Shores has the second-highest household income in Michigan, behind only Bloomfield Hills.
Grosse Pointe Shores has a median property value of $733,364 and a homeownership rate of 93.3%. The average rent for the city is about $1,182 per month.
The community is predominantly residential, with many homes on the shores of Lake St. Clair.
The community’s most prominent feature is its mile-long “Shores Drive” along Lake St. Clair, which passes by Windmill Point Park and St. John’s Episcopal Church, an 1871 church that has been listed on the National Register of Historic Places since 1973.
3. Grosse Pointe Farms – Median Household Income of $143,711
Grosse Pointe Farms is one of the wealthiest cities in Michigan with a median income of $143,711 and an average home price of $535,000.
The Grosse Pointes are five adjacent cities on the shore of Lake St. Clair. The area is known for its historic architecture and waterfront views. Residents also have access to several parks and a number of public beaches.
The city’s residents are highly educated — 61.5 percent have at least a bachelor’s degree — and 81 percent of them work in management or professional occupations.
Related: The 12 Wealthiest Cities In Florida
4. East Grand Rapids – Median Household Income of $141,406
East Grand Rapids is one of the wealthiest cities in Michigan with a median household income of $135,631. A high percentage of residents own their homes and have lived there for over five years.
The city is home to several parks as well as an ice arena, a beach, and a dog park. East Grand Rapids is home to many prominent business leaders and politicians including Peter Secchia and Amway chairman Steve Van Andel.
The city has many high-end homes and large estates, notably along the shorelines of Reeds Lake and Fisk Lake. Many young professionals and families live in East Grand Rapids.
It is located northeast of Grand Rapids on the east side of Reeds Lake, connected to Grand Rapids by Wealthy Street. A central feature of East Grand Rapids’ economy is Gaslight Village which contains a mixture of restaurants and retail shops.
Each year near Christmas, the city hosts an annual Holiday Parade through the village.
5. Huntington Woods – Median Household Income of $136,331
Huntington Woods is one of the wealthiest cities in Michigan with a median household income of $136,331. The families here have an average household size of 2.5 people and spend an average of $1,329 per month on housing costs.
This is a very diverse community with about 60 percent of the population identifying as Caucasian, 36 percent as African American, and 14 percent as Hispanic or Latino.
Other ethnicities include Asian and American Indian.
Related: 10 Wealthiest Cities In Texas
6. Beverly Hills – Median Household Income of $129,196
Beverly Hills is one of the wealthiest cities in Michigan with a median income of $129,196 per household. An average home in Beverly Hills costs about $4.8 million, and there are only a few rental properties in the city.
Residents must be at least 50 years old to live in Beverly Hills, and all homes are owned by senior citizens, according to city law. The city boasts parks and golf courses, but residents aren’t allowed to have pets.
The only animals allowed are those kept as service animals or pets belonging to guests who visit for less than 30 days. There is not a single stoplight within city limits, and the speed limit is five miles per hour throughout the city.
7. Birmingham – Median Household Income of $122,804
Birmingham is one of the wealthiest cities in Michigan with a cost of living index of 139.6 and a median household income of $122,804.
Its downtown area has four distinct neighborhoods: Birmingham Shopping District, South Old Woodward, North Old Woodward, and East Maple Road.
The variety of shops and restaurants in Birmingham attracts visitors from across southeast Michigan. There are several public parks in the city including Shain Park, which hosts many community events and activities.
Notable city landmarks include the Birmingham Museum, which has rotating exhibits; Baldwin Public Library; and the Cranbrook Institute of Science, which features interactive exhibits on topics such as astronomy, geology, and zoology.
Related: The 10 Most Expensive Restaurants in Michigan
8. Northville – Median Household Income of $114,346
Northville is one of the wealthiest cities in Michigan with a median family income of $114,346. The city, which is located in Oakland County, has a population of 6,007 (2019).
The city is quite safe, and its crime rate is 74% lower than that of the average U.S. city. Northville residents are highly educated — over 90% have at least a high school degree and nearly 70% have a bachelor’s degree or higher.
The concentration of young professionals makes Northville an ideal place for recent college graduates, who can enjoy the many bars, restaurants, and coffee shops in town.
9. Troy – Median Household Income of $101,882
Troy is one of the wealthiest cities in Michigan with a median income of $101,882. The city has world-class shopping and dining, with a variety of restaurants for every taste.
The community is very active and engaged. There are many parks, bike paths, and nature areas to visit. Troy has a business-friendly climate with low taxes, low crime rates, excellent schools and parks, and a great quality of life.
It’s no wonder that major corporations like Kmart Corporation, Hewlett Packard, Meritor Automotive, Flagstar Bank, and Delphi Automotive Systems have chosen to call Troy home.
The City works hard to maintain the highest level of service for its residents while keeping costs as low as possible.
The City Council oversees five city departments: Administration, Building Authority/Community Development, Fire Department, Police Department, and Public Works.
10. Rochester Hills – Median Household Income of $99,666
Rochester Hills is a city in northeast Oakland County of the U.S. state of Michigan, on the northern outskirts of the Metropolitan Detroit area. As of the 2019 census, the city had a total population of 74,206.
Rochester Hills is one of the wealthiest cities in Michigan with a median household income of $99,666 and a per capita income of $48,769.
Many residents are employed by local manufacturers such as Chrysler, General Motors, and General Dynamics. In addition to that, Rochester Hills is one of the most educated places in Michigan and the country.
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