Richest Cities in West Virginia (2024)

by Kristen Carney Kristen Carney

Updated: June 20, 2024

Richest City in West Virginia

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).

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20 Richest Cities in West Virginia

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

Median Income versus Average Income: Which Should You Use?

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:

  • average is the sum of a set of numbers divided by the count of numbers in the set
  • median is the middle number in the set of numbers
illustation of median vs average

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.

Most Business Owners Should Use Median Income

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.

When Should You Use Average Income

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.

Why do so many cities have a median value of $250,001?

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.

SOURCES

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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