by Kristen Carney
Updated: June 20, 2024
The richest county in New York is New York County with an average household income of $184,058 as of 2022 and 1,597,451 people as of 2023 according to the most current Census data available (citation).
Rank | County | Population | Average Income | Median Income |
---|---|---|---|---|
1 | New York County | 1,597,451 | $184,058 | $99,880 |
2 | Nassau County | 1,381,715 | $180,825 | $137,709 |
3 | Westchester County | 990,817 | $180,479 | $114,651 |
4 | Suffolk County | 1,523,170 | $156,189 | $122,498 |
5 | Putnam County | 98,060 | $145,465 | $120,970 |
6 | Rockland County | 340,807 | $142,392 | $106,173 |
7 | Dutchess County | 297,150 | $125,512 | $94,578 |
8 | Saratoga County | 238,711 | $122,874 | $97,038 |
9 | Richmond County | 490,687 | $122,431 | $96,185 |
10 | Orange County | 407,470 | $116,575 | $91,806 |
11 | Columbia County | 60,470 | $114,994 | $81,741 |
12 | Kings County | 2,561,225 | $114,302 | $74,692 |
13 | Queens County | 2,252,196 | $109,287 | $82,431 |
14 | Ulster County | 182,333 | $106,932 | $77,197 |
15 | Albany County | 316,659 | $103,137 | $78,829 |
16 | Ontario County | 112,494 | $101,686 | $76,603 |
17 | Rensselaer County | 159,305 | $101,066 | $83,734 |
18 | Tompkins County | 103,558 | $98,898 | $69,995 |
19 | Warren County | 65,380 | $97,659 | $74,531 |
20 | Monroe County | 748,482 | $96,131 | $71,450 |
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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