Ohio is a traditional state of the “Outdated Midwest”, with main facilities of business and manufacturing having diminished during the last half-century and new sectors and occupations rising to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 various economically.
In a sequence of current 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 determine 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?
With a view to determine the richest cities in Ohio, we sourced a number of datasets from the Census Bureau’s 2021 American Community Survey 5-Year Estimates (which is the newest knowledge obtainable), together with median family earnings, imply family earnings, median dwelling 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, nevertheless, some necessary quirks in relation to 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 dwelling 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+”.
Consequently, imply (common) family earnings was notably helpful in our evaluation as a result of, in contrast to median family earnings, imply family earnings has actual values for each metropolis in Ohio. All 4 of those metrics had 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 dwelling worth, and median property taxes paid, the richest metropolis in Ohio is Searching Valley. This can be a village with a inhabitants of simply over 760 folks and solely 306 households. Positioned in Cuyahoga and Geauga counties, Searching Valley is about 26 miles east of Cleveland. Though the median family earnings in Searching Valley is simply $163,333, with many different Ohio cities having greater incomes, the town’s common family earnings of $355,075 is the third-highest in Ohio. What’s extra, what makes Searching Valley the wealthiest metropolis in Ohio is its median dwelling worth of over $1.46 million — the very best in Ohio — and the truth that its median property taxes paid exceeds $10,000. No different Ohio metropolis’s median dwelling worth comes near that of Searching Valley’s. Maybe not surprisingly, the biggest occupational group in Searching Valley is Administration Occupations (30.7% of the workforce), based on Data USA, therefore the excessive incomes.
The No. 2 richest metropolis in Ohio is Coldstream, having a complete of 450 households and comparable in dimension to No. 1 Searching 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 very best within the state. And whereas the median property taxes paid is in extra of $10,000 a 12 months, what brings Coldstream right down to the No. 2 wealthiest metropolis in Ohio is the truth that its median home value is $623,000, which is lower than half that of Searching Valley’s corresponding worth.
No. 3 is the Village of Indian Hill (usually simply referred to as Indian Hill), which has a inhabitants of roughly 6,080 and a couple of,364 whole 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, the town’s median dwelling worth of $918,800 is second solely to Searching 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 owners in Bentleyville is in extra of $10,000, whereas the median dwelling 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 Data 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 considered one of two locations in Ohio to have a median family earnings in extra of $250,000. Curiously, 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 Data USA.
Wanting on the prime 50 richest cities in Ohio, the largest metropolis is No. 18 Dublin, with 17,344 whole households and a inhabitants of greater than 49,000 folks. 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.