The Cincinnati Business Courier recently published an intriguing article titled “The Wealthy 1000: Where Cincinnati ranks among wealthiest ZIP codes,” highlighting the affluence of various neighborhoods within our city. The Business Journals’ Wealthy 1000, a new ranking system, has placed several Cincinnati ZIP codes among the nation’s wealthiest, underscoring the area’s significant economic standing. Let’s delve into the details and see which neighborhoods made the cut and what this means for our local real estate market.
Cincinnati’s Top Ranking ZIP Codes
Five Cincinnati-area ZIP codes have earned a spot on the Wealthy 1000 list, showcasing the city’s concentrated pockets of wealth. All these ZIP codes are in Hamilton County, with four situated within Cincinnati’s city limits. Here are the neighborhoods that stand out:
1. Hyde Park/Mount Lookout (45208) – Ranked at No. 456
2. Downtown/Mount Adams/Over-the-Rhine (45202) – Ranked at No. 647
3. Terrace Park (45174) – Ranked at No. 660
4. Indian Hill/Madeira (45243) – Ranked at No. 762
5. Columbia Tusculum/East End/Linwood (45226) – Ranked at No. 882
Understanding the Wealthy 1000 Rankings
The Wealthy 1000 rankings are based on a weighted formula that evaluates several wealth metrics, including income, home equity, estimated savings, poverty rates, and population density. This comprehensive approach ensures a robust and accurate depiction of wealth concentration across the nation. The minimum threshold for inclusion in the Wealthy 1000 was set at $70,000 per capita income, which helped eliminate areas with high population density but lower income levels.
National Context and Local Implications
Nationally, the top 25 ZIP codes in the Wealthy 1000 are predominantly found in major metropolitan areas such as New York, San Francisco, Chicago, Miami, and Boston. Within Ohio, Cincinnati boasts the top four ZIP codes, with Franklin County’s New Albany (outside Columbus) ranking fifth at No. 844. Interestingly, no ZIP codes from Northern Kentucky or Southeast Indiana made the list.
What This Means for Cincinnati Real Estate
The presence of multiple Cincinnati ZIP codes in the Wealthy 1000 reflects the city’s strong economic foundations and the attractiveness of its neighborhoods. For real estate professionals and potential homebuyers, this ranking provides valuable insights into the areas with the highest property values and wealth concentration. Investing in these neighborhoods can be seen as a wise decision, given their proven economic stability and appeal.
At Team Herr Real Estate, we are proud to serve such a vibrant and prosperous community. Whether you’re looking to buy, sell, or invest in Cincinnati, our expert team is here to guide you every step of the way. For more information or to start your real estate journey, please contact us at 513.708.7770.
Stay tuned for more updates and insights into Cincinnati’s real estate market, and feel free to reach out to us with any questions or for personalized assistance.
Sources:
– The Wealthy 1000: Where Cincinnati ranks among wealthiest ZIP codes – Cincinnati Business Courier
– The Business Journals Wealthy 1000 report
For more detailed information and to read the full Wealthy 1000 list, click here.