We have recently studied and looked at the richest towns in Mississippi, Georgia, and other Deep South states. We are now going to look at the wealthiest towns in Alabama, which is next door and shares a border with these states. The median household income in Alabama is $54,943, which is almost $14,000 less than the median household income in the United States, which is $69,021. However, there are still many places in Alabama where incomes are high.
The Richest City in Alabama
To find the “richest city in Alabama,” we used the most recent data from the Census Bureau’s American Community Survey 5-Year Estimates. This data included median household income, mean household income, median home value, and median property taxes paid. We then scored each of these factors and made a list of the top 50 richest cities in Alabama.
Here are some important things you should know about Census statistics in order to fully understand the numbers. If a family makes more than $250,000, it is marked as “$250,000+” by the Census Bureau. This is also how the Census talks about the typical home value, which is up to $2 million, with “$2,000,000+” for anything above that. Lastly, the same boundaries apply when figuring out the median amount of property taxes paid: $10,000. Any amount above that is shown as “$10,000+.”
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This is why mean family income is so helpful to us as we look at the Alabama cities with the most money. The Census Bureau gives exact numbers for mean (or average) household income for every city in Alabama, but not for median household income. The places’ scores on all four of these factors were added up and then used to make a list.