Several of the richest cities in Kentucky are suburbs of Louisville, such as Glenview and ... [+]
In recent studies, we’ve analyzed and identified the wealthiest cities in several states, including North Dakota, Pennsylvania, North Carolina, among others. Here, we turn our attention to Kentucky. In order to identify the richest cities in Kentucky, we created a scoring system of key financial factors.
We analyzed over 556 cities in the state in order to identify the richest cities in Kentucky. The way we evaluated and scored each city’s ranking is detailed below. Read on to find out what the richest city in Kentucky is, plus the top 50 wealthiest cities in the state overall.
What Are the Richest Cities in Kentucky?
In order to assemble a list of the richest cities in Kentucky, we pulled data from the Census Bureau’s 2022 American Community Survey, and we constructed a four-factor scoring system to help identify the wealthiest cities in Kentucky:
- Median household income
- Mean (average) household income
- Median home value
- Median property taxes paid
When it comes to Census data, for certain factors its numbers have upper limits. For example, for median household income, the Census Bureau has an upper limit of “$250,000+”. For median home value, the upper limit is “$2,000,000+”. Lastly, for median property taxes paid, the upper limit is “$10,000+”. For these reasons, the mean or average household income dataset is critical because the Census Bureau has exact figures for it. All four of these metrics were scored, added up, and then ranked by the cities’ combined scores.
Below you’ll find a table detailing the top 50 richest cities in Kentucky and their respective dollar figures for each metric:
The No. 1 richest city in Kentucky in our ranking is Glenview, a town composed of just 239 households, northeast of Louisville, near the Ohio River. In Glenview, the median household income is over $250,000, while its mean household income of $508,303, which is the highest in Kentucky. The reported median home value in Glenview is also the highest in our study, at $1,002,500, and its median property taxes paid is just under the Census’s upper limit of $10,000 per year. Not surprisingly for the richest city in Kentucky, according to Data USA, the main occupation by employment is Management Occupations, accounting for 28% of the workforce, followed by Health Diagnosing & Treating Practitioners & Other Technical Occupations, which accounts for 24.5% of the workforce. They are followed by Legal Occupations, at 11.3% of the workforce. The top three industries in Glenview are Health Care & Social Assistance (24.5% of the workforce), Professional, Scientific, & Technical Services (24.1% of the workforce), and Finance & Insurance (14.4% of the workforce).
The second richest city in Kentucky is Mockingbird Valley, which is a suburb of Louisville and not far at all from Glenview. Mockingbird Valley has just 67 total households and a median household income in excess of $250,000, like Glenview. Like Glenview, the median property taxes paid per year is in excess of $9,000, while the median home value in Mockingbird Valley is $985,000. The average household income in Mockingbird Valley is the second highest in Kentucky, at $418,899, which is around $90,000 less than Glenview’s average income. The healthcare industry is huge in Mockingbird Valley, with Healthcare & Social Assistance accounting for 42.9% of the workforce.
Coming in as the No. 3 richest city in Kentucky is Anchorage, a city of 812 households, located in the Louisville as well, like No. 1 Glenview and No. 2 Mockingbird Valley. Anchorage has a median household income, at $202,917, and the third highest mean household income, at $314,691. The reported median home value in Anchorage is $749,000, with the median property taxes paid per year being in excess of $8,000. According to Data USA, Management Occupations employs the highest percentage of the workforce, at 30.9%, followed by Health Diagnosing & Treating Practitioners & Other Technical Occupations, at 13.2%. Looking at the top-employing industries, the main ones in Anchorage are Health Care & Social Assistance (19.8% of the workforce), Educational Services (11% of the workforce), and Professional, Scientific, & Technical Services (10.7% of the workforce).
Out of the top 50 richest cities in Kentucky, the largest is Francisville, which has 3,355 households. Francisville is west of Cincinnati on the Kentucky side of the Ohio river. In Francisville, the median household income is $145,304, while its average household income is $156,842.
