by Kristen Carney
Updated: December 17, 2024
The richest county in Missouri is St. Charles County with an average household income of $127,112 as of 2023 and 416,659 people as of 2023 according to the most current Census data available (citation).
Rank | County | Population | Average Income | Median Income |
---|---|---|---|---|
1 | St. Charles County | 416,659 | $127,112 | $102,912 |
2 | Platte County | 111,940 | $122,134 | $95,748 |
3 | St. Louis County | 987,059 | $121,117 | $81,340 |
4 | Clay County | 259,772 | $105,515 | $86,150 |
5 | Cass County | 111,732 | $105,071 | $87,413 |
6 | Osage County | 13,468 | $104,002 | $75,355 |
7 | Christian County | 94,422 | $102,125 | $81,245 |
8 | Warren County | 37,806 | $97,919 | $77,989 |
9 | Jefferson County | 231,230 | $96,337 | $80,522 |
10 | Lincoln County | 64,699 | $95,743 | $85,276 |
11 | Boone County | 189,463 | $95,070 | $69,913 |
12 | Ray County | 23,182 | $92,398 | $72,152 |
13 | Lafayette County | 33,196 | $91,942 | $79,091 |
14 | Cole County | 77,278 | $91,246 | $73,273 |
15 | Adair County | 25,122 | $91,227 | $56,583 |
16 | Franklin County | 106,404 | $90,460 | $71,973 |
17 | Jackson County | 718,560 | $89,895 | $67,178 |
18 | Andrew County | 18,127 | $89,386 | $74,007 |
19 | Callaway County | 44,731 | $88,969 | $72,645 |
20 | Clinton County | 21,548 | $88,767 | $70,625 |
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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