by Kristen Carney
Updated: December 17, 2024
The richest city in New York is Brookville in Nassau County with an average household income of $637,147 as of 2023. While exceptionally affluent, Brookville only has a population of 2,947 as of 2023. The richest city in New York with at least 5,000 people is Scarsdale in Westchester County with an average household income of $601,193 as of 2023 and 17,747 people as of 2023 according to the most current Census data available (citation).
Rank | City | County | Population | Average Income | Median Income |
---|---|---|---|---|---|
1 | Brookville | Nassau | 2,947 | $637,147 | $250,001 |
2 | Tuxedo Park | Orange | 624 | $633,521 | $250,001 |
3 | Hewlett Bay Park | Nassau | 468 | $616,889 | $250,001 |
4 | Scarsdale | Westchester | 17,747 | $601,193 | $250,001 |
5 | Plandome | Nassau | 1,452 | $579,488 | $250,001 |
6 | Sands Point | Nassau | 2,735 | $494,060 | $250,001 |
7 | Centre Island | Nassau | 392 | $472,064 | $213,542 |
8 | Woodsburgh | Nassau | 876 | $470,134 | $250,001 |
9 | Laurel Hollow | Nassau | 1,923 | $461,436 | $250,001 |
10 | Munsey Park | Nassau | 2,765 | $455,803 | $250,001 |
11 | Oyster Bay Cove | Nassau | 2,240 | $453,547 | $250,001 |
12 | Old Field | Suffolk | 899 | $453,181 | $250,001 |
13 | Roslyn Estates | Nassau | 1,315 | $450,572 | $250,001 |
14 | Old Westbury | Nassau | 4,833 | $441,391 | $250,001 |
15 | Lattingtown | Nassau | 1,864 | $434,865 | $250,001 |
16 | West Hampton Dunes | Suffolk | 117 | $433,907 | $250,001 |
17 | Plandome Manor | Nassau | 801 | $433,293 | $250,001 |
18 | Bronxville | Westchester | 6,404 | $432,323 | $215,726 |
19 | Cove Neck | Nassau | 293 | $426,553 | $214,107 |
20 | Huntington Bay | Suffolk | 1,426 | $421,676 | $250,001 |
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, 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
United States Census Bureau. B19013 Median Household Income, 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
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