Here's the Richest Town In Missouri

The wealthiest town in Missouri is Town and Country where the median household income is more than $107,000 higher than the state average, according to a new report.

The financial news and opinion site 24/7 Wall St. reviewed median household incomes in every town, city, village, borough or census designated place with a population between 1,000 and 25,000, using data from the U.S. Census Bureau’s American Community Survey.

In Town and Country, which has just over 11,000 residents (11,001 to be exact), the median household income is $156,899, the site says. Here’s the entire breakdown.

• Town and Country, Missouri
• Median household income: $156,899 (state: $49,593)
• Household incomes of at least $200,000: 39.4 percent (state: 3.5 percent)
• Adults with at least a bachelor’s degree: 76 percent (state: 27.6 percent)
• Median home value: $659,700 (state: $141,200)
• Population: 11,001

"Town and Country is a small Missouri city less than 20 miles west of downtown St. Louis," 24/7 Wall St. writes. "The wealthiest town in the state, Town and Country’s median household income of $156,899 a year is more than triple the statewide median of $49,593. Incomes often rise with educational attainment, and not only does Town and Country have the state’s highest median income, it is also home to the state’s largest share of adults with college degrees. More than three in every four adults in the state have a bachelor’s degree or higher, well above the 27.6% share of adults across the state as a whole."

In nearly every state, regardless of wealth, at least one town has people who earn significantly more than a typical resident in the state and the typical American, the authors wrote.

Most of the richest towns have a relatively large number of college-educated people, the authors wrote. This is partly because at least a four-year college degree is required to qualify for many high-paying jobs. In all but four towns on the list, the share of adults with at least a bachelor’s degree was greater than the statewide share and the nationwide share of 30.3 percent. The town with the highest median income was also often a pretty pricey place to live, the authors wrote.

“Not only can higher income individuals afford more expensive real estate, but high real estate costs also drive up median incomes as they attract higher income residents and are often prohibitively expensive for most Americans,” the authors wrote.All but three towns on the list have higher median home values than the typical U.S., home, which is worth $184,700, the site said. Each “richest” town also had higher median home value than the state.Many of the wealthiest towns are located near large cities and are “well within” commuting distance of a major urban center.

“Major urban areas are more likely to offer a wide range of high-paying jobs as well as a high concentration of cultural amenities like museums, theatres, concert venues, and professional sports teams,” the authors wrote.

Some small towns where the margin of error was too high weren’t included, the authors wrote. Click here to read the full methodology.

Patch reporter Dan Hampton contributed to this report.

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