The 10 Richest Cities In Kentucky For 2023


We analyzed 77 places in Kentucky to determine where the 1% live.

HomeSnacks is reader-supported. When you click through real estate links on our site, we earn an affiliate commission. Learn more.

Did you know that the bigger the hat you wear to the Kentucky Derby in Louisville, the more money people think you have?

All joking aside, HomeSnacks is here to tell you where the richest places are located in Kentucky for 2023 and we’ve listed them below.

If you ask any one of Kentucky’s 4.5 million residents they will say that their corner of the Bluegrass State is pretty cool; but if you ask the one percent, they will say that their Kentucky city is the best. Probably why many of the states richest places are also the Kentucky’s best. And like the rest of the country, the wealthy in Kentucky spare no expense, so that’s why we looked at factors like, but not limited to, median income data, education levels, and fancy amenities for 80 Kentucky places with at least 5,000 residents to narrow down Kentucky’s most well-to-do places.

And, folks, if you guessed that Bowling Green and Owensboro made the list, guess again. Actually, many of Kentucky’s most affluent places are centered around the state’s eighth largest city, Florence. Are you at all surprised? We aren’t. Florence is super safe and this key attribute is definitely trickling down to Kentucky’s richest places.

Want to know more? We suggest you grab a mint julep, a sunny spot at Churchill Downs, and read on to see where Kentucky “Richie Rich” live.

If you’re wondering how to get your hands on one of Kentucky’s richest places, you can start by researching a list of Kentucky’s highest paying jobs because you’re going to need to make at least $72,669/year to keep up with the Joneses in these places.

So, what is the richest place in Kentucky for 2023? According to the latest data,that honor goes to Union.

To see what other wealthy Kentucky cities made the list, hit that down arrow. And if you have a second, take a look at Kentucky’s poorest places, it will definitely put this list in perspective.

Rich people not your cup of tea? Feel free to check out some more reading about Kentucky:

The 10 Richest Cities In Kentucky For 2023

1. Union

Union, KY

Source: Public domain
Overall SnackAbility

7
/10

Population: 7,227
Rank Last Year: 1 (No Change)
Median Income: $128,050
Unemployment Rate: 1.7%
Poverty Rate: 1.4%
More on Union: Real Estate | Photos

2. Edgewood

Edgewood, KY

Source: Public domain
Overall SnackAbility

7
/10

Population: 8,427
Rank Last Year: 3 (Up 1)
Median Income: $109,909
Unemployment Rate: 1.9%
Poverty Rate: 3.2%
More on Edgewood: Real Estate | Photos

3. Villa Hills

Overall SnackAbility

9.5
/10

Population: 7,331
Rank Last Year: 5 (Up 2)
Median Income: $99,886
Unemployment Rate: 3.0%
Poverty Rate: 3.4%
More on Villa Hills: Real Estate

4. Fort Wright

Fort Wright, KY

Overall SnackAbility

9.5
/10

Population: 5,845
Rank Last Year: 2 (Down 2)
Median Income: $87,197
Unemployment Rate: 2.5%
Poverty Rate: 4.4%
More on Fort Wright: Real Estate | Photos

5. Fort Mitchell

Fort Mitchell, KY

Source: Public domain
Overall SnackAbility

9.5
/10

Population: 8,618
Rank Last Year: 4 (Down 1)
Median Income: $72,669
Unemployment Rate: 1.5%
Poverty Rate: 3.4%
More on Fort Mitchell: Real Estate | Photos

6. Cold Spring

Cold Spring, KY

Overall SnackAbility

9
/10

Population: 6,208
Rank Last Year: 8 (Up 2)
Median Income: $73,732
Unemployment Rate: 2.0%
Poverty Rate: 5.2%
More on Cold Spring: Real Estate | Photos

7. Alexandria

Alexandria, KY

Overall SnackAbility

5
/10

Population: 10,125
Rank Last Year: 10 (Up 3)
Median Income: $88,777
Unemployment Rate: 2.4%
Poverty Rate: 7.0%
More on Alexandria: Real Estate | Photos

8. Walton

Walton, KY

Overall SnackAbility

5
/10

Population: 5,333
Rank Last Year:
Median Income: $79,464
Unemployment Rate: 3.3%
Poverty Rate: 5.6%
More on Walton: Real Estate | Photos

9. Independence

Independence, KY

Overall SnackAbility

6
/10

Population: 28,256
Rank Last Year: 9 (No Change)
Median Income: $82,846
Unemployment Rate: 3.2%
Poverty Rate: 7.7%
More on Independence: Real Estate | Photos

10. Taylor Mill

Overall SnackAbility

9
/10

Population: 6,834
Rank Last Year: 6 (Down 4)
Median Income: $73,422
Unemployment Rate: 2.1%
Poverty Rate: 9.8%
More on Taylor Mill: Real Estate

Methodology: How We Determined The Richest Places In Kentucky For 2023

Map Of The Richest Places To Live In Kentucky
The first thing that comes to most people’s minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.

However, we don’t believe that one statistic wholly encompasses what it means to be one of the “richest places”. So we looked at this set of criteria from the newly released 2017-2021 American Community Survey:

  • Poverty Level
  • Median Household Income
  • Unemployment Rate

Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.

After we collected the data for all 80 places with more than 5,000 people in Kentucky, we ranked each place from 1 to 80 for each of the criteria, with 1 being the richest.

We then averaged all the rankings for a place into a “Rich Score” with the place having the lowest overall Rich Score, Union, crowned the “Richest City In Kentucky For 2023”. You can download the data here.

You can learn more about the top ten below or skip to the end to see the rankings for all 80 places.

Summary: The Wealthiest Places In Kentucky For 2023

Like we said earlier, when we set out to identify the richest places in Kentucky, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Kentucky.

When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.

If you’re curious enough, here are the poorest cities in Kentucky, according to data:

Poorest: Somerset
2nd Poorest: Williamsburg
3rd Poorest: Middlesborough

For more Kentucky reading, check out:

Detailed List Of The Richest Cities In Kentucky

Rank City RichScore Median Income
1 Union 1.67 $128,050
2 Edgewood 3.33 $109,909
3 Villa Hills 7.67 $99,886
4 Fort Wright 8.0 $87,197
5 Fort Mitchell 8.33 $72,669
6 Cold Spring 9.0 $73,732
7 Alexandria 9.0 $88,777
8 Walton 13.67 $79,464
9 Independence 15.0 $82,846
10 Taylor Mill 16.0 $73,422
11 Bellevue 16.67 $69,135
12 La Grange 17.67 $74,832
13 Fort Thomas 18.0 $85,938
14 Jeffersontown 19.33 $75,985
15 Hillview 20.0 $58,827
16 Florence 20.67 $64,718
17 Georgetown 21.33 $66,942
18 Crestwood 21.33 $98,797
19 Versailles 22.67 $51,985
20 Douglass Hills 23.0 $83,592
21 Shelbyville 23.33 $70,751
22 Vine Grove 23.33 $70,417
23 Lyndon 23.33 $61,078
24 Erlanger 24.0 $68,769
25 St. Matthews 24.33 $72,910
26 Mount Washington 24.33 $83,216
27 Wilmore 29.67 $54,423
28 Shepherdsville 31.33 $62,055
29 Flatwoods 32.33 $54,673
30 Middletown 32.33 $73,638
31 Central City 32.67 $56,316
32 Elsmere 33.67 $57,459
33 Lexington 35.0 $61,526
34 Elizabethtown 36.0 $51,875
35 Louisville 37.67 $58,357
36 Nicholasville 38.33 $56,790
37 Lawrenceburg 38.67 $52,808
38 Berea 39.33 $49,974
39 Paris 40.0 $45,427
40 Frankfort 41.67 $51,731
41 Henderson 42.0 $43,413
42 Dayton 42.33 $55,130
43 Princeton 42.67 $41,506
44 Bardstown 43.0 $49,298
45 Highland Heights 43.67 $42,929
46 Harrodsburg 43.67 $41,839
47 Franklin 45.33 $51,324
48 Owensboro 46.0 $47,411
49 Leitchfield 49.33 $37,309
50 London 49.67 $41,795
51 Cynthiana 50.0 $42,642
52 Winchester 50.33 $47,034
53 Paducah 50.67 $42,024
54 Maysville 51.33 $40,212
55 Radcliff 53.67 $48,325
56 Danville 54.33 $44,026
57 Corbin 54.67 $45,307
58 Shively 55.33 $41,104
59 Covington 56.33 $47,917
60 Pikeville 57.0 $41,094
61 Bowling Green 57.33 $43,633
62 Madisonville 58.67 $46,816
63 Newport 59.0 $44,095
64 Campbellsville 59.67 $47,603
65 Murray 60.0 $35,966
66 Hazard 60.0 $55,543
67 Ashland 60.67 $45,414
68 Hopkinsville 61.0 $40,442
69 Mount Sterling 63.67 $44,676
70 Oak Grove 64.0 $37,297
71 Richmond 66.0 $40,221
72 Russellville 69.0 $36,907
73 Glasgow 69.67 $38,669
74 Morehead 70.67 $33,409
75 Lebanon 71.33 $32,191
76 Monticello 72.67 $40,477
77 Mayfield 74.0 $37,212
78 Middlesborough 75.0 $28,734
79 Williamsburg 75.0 $31,287
80 Somerset 77.67 $30,107

How Is The Area In ?

Editor’s Note: Data has been updated for 2023. This is our tenth time ranking the richest cities in Kentucky.

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.