So you’re looking to rub shoulders with the richest of the rich over some first-class po’boys in the Hospitality State. Just where should you move to be among the wealthy elite of Mississippi?
The first place to look would be some of the surrounding suburbs of Jackson, which constitute 70% of this list’s cities. Places like Madison and Brandon top not only this list, but also the best places to live in Mississippi, so they’re a safe bet for satisfying the desires of even the most discerning settlers. Another option is living in the northwestern region of the state, in a Memphis suburb like Hernando or Olive Branch.
Just how much do you need to earn to break into Mississippi’s high society? Well the good news is that average median household income for the cities on this list is only around $65,000/year, so it’s definitely an achievable goal. Heck, in a city like Richland, you can be a top mover and shaker for under $50,000/year. With all that money, you’ll be rolling in the finest shrimp and blue crab that Mississippi has to offer. You might even give Mississippi’s native daughter Oprah a run for her money.
Get out your fried okra and catfish, switch on the Ole Miss game and read on to learn which spots in Mississippi have the best employment numbers coupled with the highest earners. That way you can skip all the bootlicking and move straight to the upper-echelon of Mississippian society.
There you have it: the best places to be the Mr. and Mrs. Monopoly’s of Mississippi. Just because the state has some of the highest poverty levels nationwide, doesn’t mean there aren’t some serious hotspots of wealth.
How did we come up with this list? For starters, we narrowed the cities down to just those with a population of at least 5,000. We then graded the remaining cities on three factors: poverty rate, unemployment rate, and median household income. Excelling in each of these categories was a one-way ticket to the top of this list. But which of these cities is the richest of the rich? According to the data, Madison is the richest city in Mississippi for 2022.
If you’re curious to see how other cities in Mississippi fared, check out the list below.
Rich people not your cup of tea? Feel free to check out some more reading about Mississippi:
The 10 Richest Cities In Mississippi For 2022
Rank Last Year: 4 (Up 2)
Median Income: $67,318
Unemployment Rate: 1.8%
Poverty Rate: 4.4%
More on Byram: Real Estate
Rank Last Year: 6 (Down 4)
Median Income: $59,884
Unemployment Rate: 5.6%
Poverty Rate: 6.0%
More on Saltillo: Real Estate
Methodology: How We Determined The Richest Places In Mississippi For 2022
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 2016-2020 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 64 places with more than 5,000 people in Mississippi, we ranked each place from 1 to 64 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, Madison, crowned the “Richest City In Mississippi For 2022”. 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 64 places.
Summary: The Wealthiest Places In Mississippi For 2022
Like we said earlier, when we set out to identify the richest places in Mississippi, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Mississippi.
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 Mississippi, according to data:
Poorest: Yazoo City
2nd Poorest: Clarksdale
3rd Poorest: Greenville
For more Mississippi reading, check out:
- Best Places To Raise A Family In Mississippi
- Best Places To Live In Mississippi
- Worst Places To Live In Mississippi
Detailed List Of The Richest Cities In Mississippi
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