Should I use median income or average income data?

We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. Median income provides a more accurate representation of a typical income, especially in areas with significant income disparity.

What is the richest city in Connecticut?

The richest city in Connecticut is Darien, with an average income of $443,894.

How are the richest cities in Connecticut determined?

The richest cities in Connecticut are determined based on the average income of the residents.

Where can I find more information on Connecticut demographics?

You can find more information on Connecticut demographics on https://www.connecticut-demographics.com.

Richest Cities in Connecticut

Q: What is average income?

Average income is the sum of a set of numbers divided by the count of numbers in the set. For example, if 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. However, the outlier data point ($1,000,000) skews the average significantly.

Q: What is median income?

Median income is the middle number in a set of numbers. For example, in the simplified set of income data: Household 1: $30,000, Household 2: $50,000, Household 3: $1,000,000, the median income is $50,000. Outlier data doesn’t skew the median.

Q: Why should most business owners use median income?

Most business owners should use 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.

by Kristen Carney

Updated: June 20, 2024

Richest City in Connecticut

The richest city in Connecticut is Darien with an average household income of $443,894 as of 2022 and 22,020 people as of 2023 according to the most current Census data available (citation).

Download the newest population data for Connecticut cities

Save 40+ hours of searching for data in the deep, dark internet rabbit hole, and get the most current Census income data for all Connecticut cities. Sort your Excel file from the most affluent cities to the least affluent cities in Connecticut with 2 mouse clicks. Download the sample below.

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20 Richest Cities in Connecticut
Rank	City	County	Population	Average Income	Median Income
1	Darien	Western Connecticut	22,020	$443,894	$250,001
2	New Canaan	Western Connecticut	20,862	$401,410	$250,001
3	Westport	Western Connecticut	27,470	$361,677	$242,868
4	Greenwich	Western Connecticut	63,574	$338,010	$185,850
5	Weston	Western Connecticut	10,344	$323,338	$220,754
6	Wilton	Western Connecticut	18,400	$314,035	$230,545
7	Ridgefield	Western Connecticut	24,931	$251,329	$169,363
8	Woodbridge	South Central Connecticut	9,021	$237,497	$190,536
9	Easton	Greater Bridgeport	7,636	$231,551	$181,934
10	Bridgewater	Western Connecticut	1,646	$231,132	$149,643
11	Fairfield	Greater Bridgeport	63,433	$229,940	$165,316
12	Redding	Western Connecticut	8,719	$226,694	$165,391
13	Avon	Capitol	18,883	$223,038	$146,153
14	Lyme	Lower Connecticut River Valley	2,409	$217,412	$119,352
15	Warren	Northwest Hills	1,367	$217,311	$130,156
16	Sherman	Western Connecticut	3,530	$209,678	$113,490
17	Goshen	Northwest Hills	3,232	$209,413	$138,299
18	Madison	South Central Connecticut	17,498	$204,918	$156,171
19	Bethany	South Central Connecticut	5,271	$199,342	$141,000
20	Simsbury	Capitol	24,953	$193,809	$143,874

Median Income versus Average Income: Which Should You Use?

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:

average is the sum of a set of numbers divided by the count of numbers in the set
median is the middle number in the set of numbers

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.

Most Business Owners Should Use Median Income

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.

When Should You Use Average Income

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.

Why do so many cities have a median value of $250,001?

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.

Email Me When New Data Are Released

Join thousands of subscribers and receive just 1 (ONE!) email a year in December when the US Census Bureau releases new income data for Connecticut richest cities.

SOURCES

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/.

Richest Cities in Connecticut (2024)

Richest City in Connecticut

Download the newest population data for Connecticut cities

20 Richest Cities in Connecticut

Median Income versus Average Income: Which Should You Use?

Most Business Owners Should Use Median Income

When Should You Use Average Income

Why do so many cities have a median value of $250,001?

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