It’s true what you read about New York in those fancy magazines. There are cities in this state that make Beverly Hills, CA look like the home of the middle class. We know that New York knows how to do everything bigger and better. Heck look at the Statue of Liberty, Niagara Falls, and The Big Apple. Something or someone has to keep this larger than life state ticking. And that, folks, would be the rich New Yorkers that own it.
Curious to know where the ‘Richie Rich’ of New York live? We’ve done the work for you with the top ten richest cities in New York for 2021 list. To create this list, we asked ourselves, what is important to rich people in New York? Besides the obvious: high paying jobs, affluent neighborhoods, crazy expensive penthouses, Michelin rated restaurants, and more car services than Starbucks; the cities on our list had to cater to the ‘one percent’ on a different level, they had to be super posh posh.
How does one get their hand on one of these shiny, New York gems; where living your best life requires a substantial amount of money? Well, a couple of things have to fall into place for you. You need to find a job that pays on average $175,000/year. Might we suggest a job in banking? Someone has to help all of those rich New Yorkers manage their money. Wealthy people want to live in the best cities, so it’s not lost on us that there are multiple cities on our ten best cities to live in new york for 2021 that are also on our richest list.
To see which cities made the wealthyiest cities in The Empire State for 2021, grab a slice of pizza, a glass of Cristal, and read on.
In all seriousness, we narrowed down the richest cities in New York by looking at several factors: poverty rate, median household income, unemployment rate. The cities also had to have a population of at least 5,000.
And the richest city in New York? You better have deep pockets if you want to live North Hills, folks, it’s the richest in the Empire State.
So where exactly is the money located in the great state of New York? Continue reading as we unravel the top ten richest cities in New York for 2021. And if you don’t see your city there, head to the bottom.
Rich people not your cup of tea? Feel free to check out some more reading about New York:
The 10 Richest Cities In New York For 2021
Rank Last Year: 3 (Up 1)
Median Income: $224,583
Unemployment Rate: 2.3%
Poverty Rate: 1.4%
More on East Hills: Real Estate
How We Determined The Richest Places In New York For 2021
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 2015-2019 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 169 places with more than 5,000 people in New York, we ranked each place from 1 to 169 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, North Hills, crowned the “Richest City In New York For 2021”. 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 169 places.
There You Have It – The Wealthiest Places In New York For 2021
Like we said earlier, when we set out to identify the richest places in New York, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in New York.
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 New York, according to data:
2nd Poorest: Monticello
3rd Poorest: Rochester
For more New York reading, check out:
- Safest Places In New York According To Science
- Most Dangerous Places In New York
- Best Places To Live In New York
Detailed List Of The Richest Cities In New York
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