Who's rich? Depends on the location

In Columbus, income of $127,500 ranks in top 5%; in Franklin County, $160,600

Tuesday,  September 4, 2007 3:27 AM

 

By Debbie Gebolys and David Conrad

 

 

THE COLUMBUS DISPATCH

 

 

If rich means having more money than most of your neighbors, its definition would vary widely in central Ohio. Delaware County's wealthiest households have incomes of at least $260,000 a year, according to the latest census numbers. That's more than twice what it takes to be in the top 5 percent of households in Franklin County.

 

More below:

www.dispatch.com

Accompanying graphs:

 

 

Go Columbus!!!

I'm surprised to see Lorain where it is.  I would have guessed it as closer to Youngstown/Canton.

Reported income is interesting, but actual income and net worth are the real measures of wealth.

True. Rich people don't cash paychecks.

 

A more telling measure would be debt-to-income. I don't know what some of those Delaware County Luxury Barns are funded entirely by paper.

x-

 

In a city as small as Lorain, the top 5% of income represents only about 3500 people.  There are a few miles of lakefront in Lorain that have some impressive houses; there's also the HarborWalk along the river; and there's quite a bit of new development on the western fringe of Lorain in an area once known as Pill Hill for all the doctors that lived there.  In Lorain, as in a lot of cities, there's a big disparity between the haves and have-nots.

 

Some images of the "have's":

Lakefront on East Erie (US 6)

 

 

Pill Hill (Rosecliff Dr.)

 

 

 

I've been along East Erie, but I didn't think that the wealthy stretch would be large enough to boost Lorain that much.

I know - it's hard to reconcile the recently reported spike in poverty numbers in Lorain with this data.  I'm trying to think where else a thousand or so households would be in Lorain where people make over $100K a year - maybe this was data from before Ford closed?  I know my cousin was making $100K there, and his wife was an occupational health nurse there making almost as much with overtime/shift differentials/holiday pay.  Those steelworkers are working six 10 hour days a week as well - apparently it's cheaper to pay overtime than to hire people and pay union benefits?

 

The other data for lowest and highest 20% aren't too different from Akron or Toledo where there are also sizeable middle class neighborhoods within the city borders.  I don't think Canton really has a lot of middle or upper class housing within its municipal border; lots of those neighborhoods are in the townships (Plain, Perry, Jackson, Canton Twp.) or suburbs (North Canton).  I would guess the same about Y-town?