The 10 Wealthiest Cities in Ohio Based on Median Income

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Not only is Ohio a great place to live, but it’s also a great place to live affordably. Ohio has cities that are booming, with a growing economy and expanding industries.

At the same time, Ohio also offers many quiet towns where people can enjoy the simple pleasures of a slower pace of life. While every city in Ohio is different, there are things they all have in common that make Ohio one of the best states (if not the best).

Ohio has many opportunities for employment and education. Residents benefit from a low cost of living compared with other states, making it easy to afford necessities like housing, food, and transportation.

Ohio is also home to a strong economy that offers diverse job opportunities for everyone, from recent college graduates to retirees who want to earn extra income.

It’s no wonder Ohio has been rated among the best states for business and employment by CNBC.

Related: The 12 Wealthiest Cities In Florida

Top 10 Richest Cities in Ohio

Life in Ohio is great. There are so many cities and places that you can choose to live in just in the state of Ohio alone. But not all of these places will be as great for you and your family as other places.

If you’re looking to move to a town or city in this area, you must know if that part of Ohio is overall a good place to live. There are a few places that you should consider that are far from the hustle and bustle of city life.

To do so, here are 10 wealthy cities in Ohio.

1. The Village of Indian Hill — Median Income of $207,174

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The Village of Indian Hill is one of the wealthiest cities in Ohio with a median household income of $207,174 and a poverty rate of 2.7% according to the U.S. Census Bureau.

The median home value in Indian Hill is $1,332,336, while the average property rate ranges from 0.525%.

It also has the lowest crime rate of any city in Ohio and one of the lowest in all of the United States.

However, Indian Hills isn’t just for rich people — it’s for everybody who wants to live in a small town that provides all sorts of restaurant options and still has vibrant city life an hour away by car.

Related: 10 Wealthiest Cities In Texas

2. Independence — Median Income of $106,413

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Independence is one of the wealthiest cities in Ohio with a population of 7,914. The median household income is $106,413 and the median home value is $269,900.

Independence offers a high quality of life with quality school districts, low crime rates, and an overall family-friendly environment. More than 90% of the children in Independence attend one of the private schools in the area.

It’s home to many celebrities and athletes who want to stay close to Cincinnati while enjoying low taxes and high quality of life. Because it’s so far from downtown Cincinnati, it’s not a great option for commuters.

3. Montgomery — Median Income of $131,111

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Montgomery is one of the wealthiest cities in Ohio with a median household income of $131,111. The suburb has a median home value of $522,502 and an unemployment rate of 3.7%.

A typical commute to work takes 24.6 minutes, and residents have a mean travel time of 29.8 minutes to get to work, according to Census data. The city also has an incredibly low poverty rate of just 2.57%.

If that’s not impressive enough, Montgomery is also one of the safest cities in America with a violent crime rate less than half of the state average and well below the national average.

With those figures in mind, it’s no surprise that the cost of living in Montgomery is nearly double the national average and almost three times higher than other cities in Ohio.

To live there comfortably, we estimate you need to earn a minimum annual salary of $164,957.

Related: Top 10 Most Wealthiest Suburbs Of Chicago

4. Powell — Median Income of $157,149

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Powell is one of the wealthiest cities in Ohio with a median household income of nearly $157,149 more than the state average. A home in Powell costs nearly three times as much as the average Ohio home.

There are many reasons that Powell has become so desirable. It is located in the Olentangy Local School District, which is rated “Excellent” by the state of Ohio.

Powell is also very close to various shopping centers, entertainment venues, and recreation areas. Powell is home to a variety of unique and eclectic dining experiences. From the traditional to the eccentric, Powell’s restaurants reflect a diverse and sophisticated palate.

5. Pepper Pike — Median Income of $190,682

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Pepper Pike is one of the richest cities in Ohio with a population of 6,269 (2019) and an average household income of $190,682. It’s also one of the state’s most well-educated cities, with a full 74% holding at least a bachelor’s degree.

Pepper Pike has a strong and healthy economy and low unemployment rate, which may explain why it has been able to maintain such high household incomes.

The city also boasts some of the best schools in Ohio. According to Niche, the average standardized test scores for students in Pepper Pike are 38 percent higher than the statewide average for math and 20 percent higher for reading proficiency.

Related: The 10 Wealthiest Towns In Massachusetts

6. Dublin — Median Income of $137,867

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Dublin, a city of about 46,499 (2019) people in the Columbus metro area, is one of the richest cities in Ohio with a median household income of $137,867.

Dublin is also home to many well-educated residents. More than half of adults in the city have at least a bachelor’s degree and 26% have a graduate or professional degree.

Dublin is home to several large employers, including Nationwide Insurance and Cardinal Health. In addition to good incomes and high educational attainment among residents, Dublin offers many opportunities to socialize and relax.

The city hosts nearly daily events throughout the year, including music concerts, dance performances, art exhibitions, culinary events, and sporting competitions.

The Dublin Irish Festival hosts about 100,000 visitors every August for live music and entertainment, a 5k run/walk, and an array of food vendors serving up Irish fare.

7. Bay Village — Median Income of $103,582

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Bay Village is one of the richest cities in Ohio with a median household income of $103,582, according to figures from the U.S. Census Bureau’s American Community Survey.

The city is home to many high-income business executives, athletes, and those who work at professional firms. Bay Village also has an unemployment rate of 5.5 percent, which is below the national average.

The city’s median home value is $347,563, according to Zillow. The city also has a high graduation rate of 98 percent, which exceeds the state average of 87 percent.

Bay Village has an exceptionally low crime rate, making it one of the safest cities in Northeast Ohio.

Bay Village is committed to a community policing philosophy that emphasizes proactive enforcement and intervention through partnerships with residents, businesses, and schools.

8. Upper Arlington — Median Income of $123,548

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Upper Arlington is one of the richest cities in Ohio with a median household income of about $123,548 per year. The city has a population of about 35,299 (2019) residents and residents here enjoy excellent public schools and a strong sense of community.

The city is home to many parks, including Northam Park and Thompson Park. The parks are great places to play tennis, baseball, basketball, and more.

Upper Arlington is also home to the Scioto River and there are many different bike trails along with it, offering great views and an excellent way to get some exercise.

The average commute time for Upper Arlington residents is 21 minutes, which is much less than other Ohio cities. The city’s crime rate is low, and the area’s economy is thriving.

Upper Arlington is also home to several well-known companies, like Nationwide Insurance and Procter & Gamble.

9. Grandview Heights — Median Income of $101,100

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Grandview Heights is one of the wealthiest cities in Ohio with a median income of over $101,100. The city has an unemployment rate of just 5.5 percent. Grandview Heights residents have a median commute time of just 18 minutes, the lowest in the state.

The high incomes in Grandview Heights are likely due to the city’s highly educated population.

More than 88 percent of adults have at least a bachelor’s degree, far more than the 30.9 percent share of adults across Ohio as a whole and one of the highest proportions among U.S. cities.

The city offers residents a suburban feel and most residents own their homes. There aren’t many bars or restaurants in Grandview Heights, but if you are looking for a good run or bike ride, the city is home to Inniswoods Metro Gardens, a scenic botanical garden.

10. Macedonia — Median Income of $97,440

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Macedonia is one of the wealthiest cities in Ohio with a median income of $97,440. Not surprisingly, many historic homes have been preserved and renovated located in Macedonia.

This has helped to increase the value of the real estate in this area over the years. The median home price for a home in Macedonia is around $279,900.

While it could be argued that this price is higher than the national average, it isn’t as expensive as some areas of Cleveland and Akron.

Last Word

With a population of 878,553 (2019) and an average annual household income of $53,745, Columbus (not on our list)is the most economically prosperous city in Ohio.

If you’re looking for a city that boasts all the top industries, one that has many opportunities for advancement, and is home to a vibrant economy and lovely people then Columbus, Ohio might be the place for you.

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