by Kristen Carney
Updated: June 20, 2024
The richest city in Wisconsin is Chenequa in Waukesha County with an average household income of $397,324 as of 2022. While exceptionally affluent, Chenequa only has a population of 540 as of 2023. The richest city in Wisconsin with at least 5,000 people is Fox Point in Milwaukee County with an average household income of $231,783 as of 2022 and 6,608 people as of 2023 according to the most current Census data available (citation).
Rank | City | County | Population | Average Income | Median Income |
---|---|---|---|---|---|
1 | Chenequa | Waukesha | 540 | $397,324 | $177,500 |
2 | Oconomowoc Lake | Waukesha | 584 | $356,010 | $250,001 |
3 | Lac La Belle | Jefferson; Waukesha | 282 | $327,631 | $198,750 |
4 | River Hills | Milwaukee | 1,563 | $320,733 | $200,625 |
5 | Maple Bluff | Dane | 1,308 | $262,570 | $172,174 |
6 | Fox Point | Milwaukee | 6,608 | $231,783 | $130,865 |
7 | Shorewood Hills | Dane | 2,182 | $220,613 | $116,250 |
8 | Egg Harbor | Door | 371 | $218,076 | $77,500 |
9 | Chain O' Lakes | Waupaca | 882 | $211,082 | $115,341 |
10 | Mequon | Ozaukee | 25,489 | $206,574 | $141,996 |
11 | Merton | Waukesha | 3,566 | $197,206 | $159,577 |
12 | Kohler | Sheboygan | 2,235 | $189,892 | $128,036 |
13 | Wind Point | Racine | 1,636 | $186,383 | $143,000 |
14 | Whitefish Bay | Milwaukee | 14,553 | $183,546 | $142,356 |
15 | Browns Lake | Racine | 1,831 | $181,680 | $120,719 |
16 | Jump River | Taylor | 55 | $179,996 | -$1 |
17 | Elm Grove | Waukesha | 6,316 | $173,006 | $126,996 |
18 | Okauchee Lake | Waukesha | 4,690 | $171,156 | $128,785 |
19 | Brookfield | Waukesha | 41,884 | $171,155 | $121,837 |
20 | Bayside | Milwaukee; Ozaukee | 4,369 | $167,737 | $129,348 |
We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. If you haven’t thought about median versus average since your last standardized test, you aren’t alone. Here’s what they are:
Now let’s say you had the following simplified set of income data.
Household 1: $30,000
Household 2: $50,000
Household 3: $1,000,000
The average income for this set is $360,000. The outlier data point ($1,000,000) skews the average WAY up. Conversely, the average income would be skewed WAY down if someone had an income of $500. The median income for the same data set is $50,000. Outlier data doesn’t skew the median.
So most business owners should use the median income as a true indicator of wealth, because it provides a more accurate representation of a typical income, especially in areas with significant income disparity.
If your target market is high-income households, the average income may be more relevant. This is because the average income can highlight the presence of a higher concentration of wealthy individuals, which is beneficial for luxury goods and services marketing. We’re using average income on this page because using the Census’s highest reported median value of $250,001 could result in multiple ties for the richest geography.
The Census' American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, ensure data consistency, and simplify reporting. A "jam value" in survey data refers to a placeholder or default value used when actual data points are unavailable, incomplete, or exceed certain thresholds. We represent this jam value as $250,001 to make it easy for you to sort.
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United States Census Bureau. Annual Estimates of the Resident Population: April 1, 2020 to July 1, 2023. U.S. Census Bureau, Population Division. Web. May 2024. http://www.census.gov/.
United States Census Bureau. B01001 SEX BY AGE, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. B19013 Median Household Income, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 07 December 2023. http://www.census.gov/.
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