by Kristen Carney
Updated: December 17, 2024
The richest county in Maine is Cumberland County with an average household income of $125,434 as of 2023 and 310,230 people as of 2023 according to the most current Census data available (citation).
Rank | County | Population | Average Income | Median Income |
---|---|---|---|---|
1 | Cumberland County | 310,230 | $125,434 | $92,983 |
2 | York County | 218,586 | $104,151 | $82,904 |
3 | Sagadahoc County | 37,513 | $101,281 | $82,080 |
4 | Lincoln County | 36,507 | $98,711 | $72,026 |
5 | Knox County | 40,977 | $95,678 | $71,903 |
6 | Hancock County | 56,526 | $91,525 | $69,630 |
7 | Waldo County | 40,620 | $86,416 | $68,441 |
8 | Androscoggin County | 113,765 | $85,807 | $67,298 |
9 | Kennebec County | 127,259 | $85,256 | $65,062 |
10 | Penobscot County | 155,312 | $84,825 | $63,248 |
11 | Franklin County | 30,828 | $80,168 | $58,522 |
12 | Oxford County | 59,905 | $78,431 | $57,933 |
13 | Piscataquis County | 17,486 | $74,961 | $55,234 |
14 | Aroostook County | 67,351 | $73,148 | $54,254 |
15 | Somerset County | 51,302 | $72,900 | $56,199 |
16 | Washington County | 31,555 | $71,586 | $52,237 |
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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