A bison stands in front of Mount Moran, north of Jackson Hole Wyoming. Many of the richest cities here… [+] Wyoming is located in the Jackson micropolitan area.
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In a series of recent studies, we analyzed and identified the richest cities in some of the Rocky Mountain states. These included the richest cities in Colorado and Utah. Now, let’s turn our attention to one of their neighbors; The least populous state in the United States – Wyoming.
To identify the richest cities in Wyoming we analyzed over 200 cities in the state. The way we evaluated and scored each city’s ranking is detailed below. Read on to find out which is the richest city in Wyoming, as well as which are the top 50 richest cities in the state overall.
What is the richest city in Wyoming?
To compile this list of the richest cities in Wyoming, we pulled data from the Census Bureau’s 2022 American Community Survey, and we created a four-factor scoring system to help identify the richest cities in Wyoming:
- median household income
- Average (median) household income
- median house price
- Average property tax paid
When it comes to census data, there is an upper limit to the numbers for certain factors. For example, for median household income, the Census Bureau’s upper limit is “$250,000+”. For the average home value, the upper limit is “$2,000,000+”. And, finally, for average property taxes paid, the upper limit is “$10,000+”. For these reasons, the median or mean household income dataset is particularly important because the Census Bureau has accurate data on it. All four metrics were scored, added and then cities were ranked based on their combined score.
50 richest cities in wyoming
Below you’ll find a table detailing the top 50 richest cities in Wyoming and their corresponding dollar figures for each metric:
Wyoming’s No. 1 wealthiest town in our ranking is Hoback, a census-designated place (CDP) of 830 households, located in the Jackson micropolitan area. In fact, the Jackson Hole Gun Club is just north, just outside Hoback. Not surprisingly for Wyoming’s richest city, the main occupation of employment is management occupations, making up 26.2% of the workforce, according to Data USA. The top three industries in Hoback are construction (23.2% of the workforce), health care and social assistance (17.3% of the workforce), and retail trade (12.7%). The median household income in Hoback is $130,236, while its median household income is the highest at $195,161 among the 200+ cities in Wyoming we analyzed. The reported median home value in Hoback is $930,700 – the third highest in Wyoming – and the average property tax paid by households is $4,188 per year.
Wyoming’s second wealthiest city is South Park, which, like Hoback, is located in Teton County, and is part of the Jackson micropolitan area. South Park is home to the very elite 3 Creeks Golf Club as well as Jackson Hole High School and Jackson Hole Classical Academy. The average home value in South Park is just under $1.33 million, the highest in Wyoming and its average property tax paid is the second highest with $7,363 per year. While 13 cities have a median household income higher than South Park’s $99,907, South Park ranks second in Wyoming with a median household income of $163,152. Thus, these four factors combined, not just its median household income, are why South Park is the No. 2 richest town in Wyoming.
A geographic pattern is clearly developing here: The No. 3 wealthiest town in Wyoming is Moose Wilson Road, another town located in Teton County and, more specifically, in the Jackson micropolitan area. The median household income in Moose Wilson Road – $96,056 – is not one of its most impressive statistics. Instead, it’s the median household income, which is $162,057, making it the third highest in Wyoming. Additionally, the reported median home value in Moose Wilson Road is over $1.22 million, the second highest in Wyoming. The difference between Moose Wilson Road’s median household income and its median household income suggests that income inequality may be an issue here. And, in fact, according to Census data, the Gini index of income inequality in Moose Wilson Road is 0.5165, compared to 0.4818 for the US overall (the Gini index ranges from 0 – representing perfect income equality – to 1, which represents absolute income inequality).
Source: www.forbes.com
