Pennsylvania is home to a wide range of communities, each with its unique charm and opportunities. But when it comes to wealth, some counties stand out more than others. According to a recent analysis by SmartAsset, Chester County has topped the list as the wealthiest county in Pennsylvania, while Centre County, which ranked 5th last year, now sits at 15th in the latest ranking.
While Centre County’s performance has slipped, it still remains one of the wealthier counties in the state. The median home value in Centre County is ranked 7th in Pennsylvania at $329,667, with a median income of $70,087 and an investment income of $45,261.
SmartAsset, a finance-focused website, compiled these rankings using data from reliable sources like the U.S. Census Bureau, Zillow (a real estate platform), and the Internal Revenue Service (IRS). The analysis takes into account three key metrics: investment income, property values, and median income. The latest ranking reflects data from 2024.
For context, the overall median household income in Pennsylvania stands at $76,081, as per the U.S. Census Bureau. Additionally, about 12% of the state’s population lives in poverty, highlighting the income disparities that exist across different counties.
Let’s dive deeper into how the wealthiest counties in Pennsylvania compare to one another based on this latest data.
The 10 Wealthiest Counties in Pennsylvania: A Breakdown
Here’s a look at the top 10 wealthiest counties in Pennsylvania, according to SmartAsset:
1. Chester County
- Median Income: $118,574
- Investment Income: $123,990
- Median Home Value: $533,436
Chester County is the richest county in Pennsylvania, with high median income, investment income, and home values. With a median income well over $100,000, it’s clear that Chester County is a hub for affluent families.
2. Montgomery County
- Median Income: $107,441
- Investment Income: $105,155
- Median Home Value: $462,750
Coming in second place, Montgomery County has a strong financial profile, with a median income over $107,000 and an impressive median home value close to half a million dollars.
3. Bucks County
- Median Income: $107,826
- Investment Income: $78,715
- Median Home Value: $485,037
Bucks County is not far behind, with similar median income and home values. It has a reputation for a balanced financial profile, making it one of the top destinations for affluent households.
4. Delaware County
- Median Income: $86,390
- Investment Income: $95,823
- Median Home Value: $345,335
Delaware County may not have the highest median income compared to the top three counties, but it stands out for its strong investment income, indicating significant wealth tied to financial assets.
5. Cumberland County
- Median Income: $82,849
- Investment Income: $50,629
- Median Home Value: $322,896
Cumberland County’s median income and home values place it firmly among the top 10 wealthiest counties in Pennsylvania, making it an attractive area for homeowners.
6. Northampton County
- Median Income: $82,201
- Investment Income: $48,895
- Median Home Value: $336,178
Northampton County’s wealth is reflected in its median home value, which is among the highest in the state. Though it doesn’t have the top investment income, its solid median income ensures it remains in the wealthiest tier.
7. Lancaster County
- Median Income: $81,458
- Investment Income: $42,314
- Median Home Value: $348,170
Lancaster County ranks 7th, with a healthy balance of high median home values and a strong, though not top-tier, median income.
8. Butler County
- Median Income: $82,932
- Investment Income: $42,077
- Median Home Value: $303,682
Butler County places 8th, with a relatively high median income compared to some others on the list, though its home values fall a bit lower than other counties in the top 10.
9. Monroe County
- Median Income: $80,656
- Investment Income: $32,075
- Median Home Value: $301,667
Monroe County makes it to the top 10 with its reasonable home values and median income. Although its investment income is lower than other counties, it still stands as one of the wealthiest areas in the state.
10. Adams County
- Median Income: $78,975
- Investment Income: $37,442
- Median Home Value: $306,717
Adams County rounds out the top 10. Its financial profile isn’t as strong as other counties, but its median income and home value are impressive enough to secure it a spot in the top 10 wealthiest counties in Pennsylvania.
What About Centre County?
Centre County may have slipped in the rankings, but it’s important to note that it remains a desirable area with a high quality of life. The median home value is solid, and the investment income continues to be strong, even if it no longer ranks as highly as it did in 2023. The area’s thriving economy and strong educational institutions like Penn State University continue to attract residents with solid financial profiles.
How Did the Rankings Change Over Time?
In 2023, Chester County, Bucks County, Montgomery County, Delaware County, Centre County, Northampton County, Butler County, Lancaster County, Cumberland County, and Lehigh County were named the top 10 wealthiest counties in Pennsylvania. While some counties have stayed in the top 10, like Chester and Bucks, others have shifted positions due to changes in home values, income levels, and investment income.
Understanding the Financial Landscape of Pennsylvania
The latest rankings shed light on the growing disparities in wealth across Pennsylvania. While some counties are thriving with high income levels and valuable real estate, other areas struggle with lower median incomes and higher poverty rates. For example, Pennsylvania’s median household income is $76,081, but nearly 12% of the population lives below the poverty line.
Understanding where the wealthiest areas lie can help homebuyers, investors, and even potential residents make informed decisions about where they want to live or invest in Pennsylvania.
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