by Kristen Carney
Updated: December 17, 2024
The richest city in Rhode Island is East Greenwich with an average household income of $210,917 as of 2023 and 14,626 people as of 2023 according to the most current Census data available (citation).
Rank | City | County | Population | Average Income | Median Income |
---|---|---|---|---|---|
1 | East Greenwich | Kent | 14,626 | $210,917 | $149,577 |
2 | Barrington | Bristol | 17,061 | $209,984 | $150,542 |
3 | Little Compton | Newport | 3,557 | $209,440 | $129,750 |
4 | Jamestown | Newport | 5,488 | $182,060 | $141,442 |
5 | Portsmouth | Newport | 17,447 | $155,226 | $119,500 |
6 | North Kingstown | Washington | 27,771 | $148,737 | $120,565 |
7 | West Greenwich | Kent | 6,683 | $145,704 | $137,485 |
8 | Richmond | Washington | 8,133 | $141,605 | $118,924 |
9 | Charlestown | Washington | 8,036 | $139,849 | $103,147 |
10 | Lincoln | Providence | 22,846 | $137,587 | $115,181 |
11 | Scituate | Providence | 10,494 | $134,484 | $116,047 |
12 | Cumberland | Providence | 36,591 | $133,721 | $118,642 |
13 | South Kingstown | Washington | 32,025 | $132,714 | $111,063 |
14 | North Smithfield | Providence | 12,601 | $132,642 | $107,813 |
15 | Newport | Newport | 24,717 | $128,819 | $83,562 |
16 | Middletown | Newport | 16,588 | $128,510 | $97,650 |
17 | Smithfield | Providence | 22,090 | $126,361 | $101,653 |
18 | Bristol | Bristol | 22,069 | $126,212 | $96,005 |
19 | Glocester | Providence | 10,200 | $125,841 | $111,243 |
20 | Exeter | Washington | 6,581 | $125,421 | $99,236 |
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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