by Kristen Carney
Updated: June 20, 2024
The richest city in West Virginia is Prince in Fayette County with an average household income of $238,119 as of 2022. While exceptionally affluent, Prince only has a population of 53 as of 2023. The richest city in West Virginia with at least 5,000 people is Cheat Lake in Monongalia County with an average household income of $164,994 as of 2022 and 10,034 people as of 2023 according to the most current Census data available (citation).
Rank | City | County | Population | Average Income | Median Income |
---|---|---|---|---|---|
1 | Prince | Fayette | 53 | $238,119 | -$1 |
2 | Holden | Logan | 559 | $225,209 | $62,059 |
3 | Cameron | Marshall | 821 | $179,719 | $47,500 |
4 | Shenandoah Junction | Jefferson | 1,205 | $168,972 | $102,552 |
5 | Cheat Lake | Monongalia | 10,034 | $164,994 | $109,732 |
6 | Booth | Monongalia | 318 | $160,038 | -$1 |
7 | North Hills | Wood | 817 | $148,914 | $137,875 |
8 | East Dailey | Randolph | 428 | $129,653 | -$1 |
9 | Greenville | Logan | 232 | $127,215 | $155,625 |
10 | Green Bank | Pocahontas | 59 | $126,581 | -$1 |
11 | Ghent | Raleigh | 390 | $123,141 | $102,204 |
12 | Harpers Ferry | Jefferson | 268 | $121,800 | $109,183 |
13 | Bridgeport | Harrison | 9,377 | $119,684 | $96,063 |
14 | Cassville | Monongalia | 1,570 | $119,066 | $85,878 |
15 | Valley Bend | Randolph | 585 | $117,581 | $128,173 |
16 | Winfield | Putnam | 2,368 | $116,275 | $101,500 |
17 | West Union | Doddridge | 639 | $115,080 | $88,833 |
18 | Justice Addition | Logan | 117 | $114,136 | -$1 |
19 | Teays Valley | Putnam | 13,816 | $113,275 | $102,349 |
20 | Apple Grove | Mason | 155 | $111,936 | -$1 |
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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