Money

The Wealthiest and Poorest County in Every State

Published

5 years ago

February 11, 2019

Jeff Desjardins

View a high resolution version of this graphic.

The Wealthiest and Poorest County in Every U.S. State

View the high resolution version of today’s graphic by clicking here.

The average U.S. state is made up of 62 counties.

With so many counties spread throughout each state in the nation, it’s not surprising that we can find counties that exemplify almost any part of the American experience.

In this case, we’re comparing county-level data to look at the differences in economic opportunity within each state. More specifically, we are looking at the range of median household income, which is one proxy for the difference in economic status between counties.

Disparity by State

Today’s infographic comes to us from TitleMax, and it looks at the wealthiest and poorest counties in each individual U.S. state based on the measure of median household income.

Here are the five states with the biggest disparity between rich and poor counties:

1. Virginia: $102,800
Loudoun is about an hour’s drive to D.C., and it also happens to be the richest county in the U.S. in terms of median income. Further west in the state, bordering Kentucky and West Virginia, lies Buchanan County, which has a median household income of just $31,800.

	County Name	Median Income
Richest	Loudoun	$134,600
Poorest	Buchanan	$31,800
Differential		$102,800

2. New Mexico: $86,500
In Los Alamos, known as the birthplace of the atomic bomb, median household income has exploded to $114,700 – meanwhile, along the Mexico border lies Luna, the poorest county in the state.

	County Name	Median Income
Richest	Los Alamos	$114,700
Poorest	Luna	$28,200
Differential		$86,500

3. Colorado: $85,200
Just like the Colorado has a difference in elevation, it also holds a large difference in median income. Folks in Douglas County, which lies between Denver and Colorado Springs, take home $112,400 in income on average, while folks in Costilla bring in about $27,200 per year.

	County Name	Median Income
Richest	Douglas	$112,400
Poorest	Costilla	$27,200
Differential		$85,200

4. Maryland: $80,900
Howard County, which lies between Baltimore and Washington D.C., has the highest median household income in the state. Meanwhile, it’s Somerset County at the south of the Delmarva Peninsula that has the lowest.

	County Name	Median Income
Richest	Howard	$119,400
Poorest	Somerset	$38,500
Differential		$80,900

5. Tennessee: $79,700
Just to the south of the Music City sits Williamson County – a wealthy part of the state with $107,900 in median income. Hancock County is the poorest, and it’s tucked away in the northeast corner of the state.

	County Name	Median Income
Richest	Williamson	$107,900
Poorest	Hancock	$28,200
Differential		$79,700

A Note on Cost of Living

While median household income can help point to disparities between counties, it is just one indicator.

It’s worth noting that the cost of living can often be cheaper in counties with lower median incomes, and this can partially offset the difference in some instances. For example, while Trinity County is the poorest county in California by median income, it’s also far away from San Francisco, Los Angeles, or Sacramento, and has a much cheaper cost of living and a different way of life.

In some ways it is comparing apples to oranges. Trinity County is completely rural, holds zero incorporated cities, and holds just 3,600 people in its largest community (Weaverville) – a far cry from the urban sprawl of L.A. or the booming Bay Area.

Related Topics:united states inequality wealthiest median income

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Mapped: The Migration of the World’s Millionaires in 2023

Where do the world’s wealthiest people want to live? This map tracks the migration of the world’s High Net Worth Individuals (HNWIs).

Published

2 days ago

September 20, 2023

Avery Koop

Mapping the Migration of the World’s Millionaires 2023

Just like everyone else, High Net Worth Individuals (HNWIs) traveled less than usual during the pandemic, and as a result their migration numbers trended downwards. But millionaires and billionaires are on the move again and it is anticipated that 122,000 HNWIs will move to a new country by the end of the year.

Henley & Partners’ Private Wealth Migration Report has tracked the countries HNWIs have moved from and to over the last 10 years; this map showcases the 2023 forecasts.

In this context, HNWIs are defined as individuals with a net worth of at least $1 million USD.

The Countries Welcoming New Millionaires

The top 10 countries which are likely to become home to the highest number of millionaires and billionaires in 2023 are scattered across the globe, with Australia reclaiming its top spot this year from the UAE.

Here’s a closer look at the data:

Rank	Country	Projected HNWI Inflow 2023
1	🇦🇺 Australia	5,200
2	🇦🇪 UAE	4,500
3	🇸🇬 Singapore	3,200
4	🇺🇸 U.S.	2,100
5	🇨🇭 Switzerland	1,800
6	🇨🇦 Canada	1,600
7	🇬🇷 Greece	1,200
8	🇫🇷 France	1,000
9	🇵🇹 Portugal	800
10	🇳🇿 New Zealand	700

Only two Asian countries make the top 10, with the rest spread across Europe, North America, and Oceania.

Despite historic economic challenges, Greece is projected to gain 1,200 High Net Worth Individuals this year. One reason could be the country’s golden visa program, wherein wealthy individuals can easily obtain residence and eventually EU passports for the right price—currently a minimum real estate investment cost of 250,000 euros is all that’s required.

Many of the leading millionaire destinations are attractive for wealthy individuals because of higher levels of economic freedom, allowing for laxer tax burdens or ease of investment. Singapore, which expects to gain 3,200 millionaires, is the most economically free market in the world.

The Countries Losing the Most Millionaires

China is anticipated to lose 13,500 High Net Worth Individuals this year, more than double as many as the second place country, India (6,500).

Here’s a closer look at the bottom 10:

Rank	Country	Projected HNWI Outflow 2023
1	🇨🇳 China	-13,500
2	🇮🇳 India	-6,500
3	🇬🇧 UK	-3,200
4	🇷🇺 Russia	-3,000
5	🇧🇷 Brazil	-1,200
6	🇭🇰 Hong Kong SAR	-1,000
7	🇰🇷 South Korea	-800
8	🇲🇽 Mexico	-700
9	🇿🇦 South Africa	-500
10	🇯🇵 Japan	-300

In a number of these countries, strict regulatory bodies and corrupt governments can hinder the ease with which HNWIs can manage their own money.

In Russia, many wealthy individuals are facing personal tariffs and trade restrictions from Western countries due to the war in Ukraine. China’s crackdowns on Hong Kong have made it a less attractive place for business. And finally, the UK’s exit from the EU has caused many businesses and individuals to lose the easy movement of labor, finances, and investment that made operations across European borders seamless.

Some of these countries may still be adding homegrown millionaires and billionaires, but losing thousands of HNWIs to net migration does have a considerable economic impact.

Overall, millionaires are increasingly on the move. In the 10 years of reporting—despite a dip during the pandemic—the number of HNWIs moving away from their countries of origin has been growing every year.

Here’s a look at the numbers:

Year	Projected HNWI Migration
2013	51,000
2014	57,000
2015	64,000
2016	82,000
2017	95,000
2018	108,000
2019	110,000
2020	12,000
2021	25,000
2022	84,000
2023 (forecast)	122,000

In a geopolitically fragile but more connected world, it’s no surprise to see millionaires voting with their feet. As a result, governments are increasingly in competition to win the hearts and minds of the world’s economic elite to their side.