OHIO - While Ohio is known for its affordable cost of living, the state is also home to enclaves of extraordinary wealth that rival some of the nation's most exclusive communities. When trying to pinpoint the most expensive place, the answer often depends on the metric: are we talking about the highest home prices or the highest-earning residents?
Ohio's Pinnacle of Wealth: What is the Most Expensive Place to Live?
In Ohio, the titles for "richest" and "most expensive" are held by two dominant suburbs, one outside Cincinnati and one outside Columbus.
The Richest Town: The Village of Indian Hill
If "most expensive" is defined by the sheer wealth and income of its residents, the crown almost undisputedly goes to the Village of Indian Hill, a suburb of Cincinnati.
Consistently ranked as the wealthiest municipality in Ohio, Indian Hill is a community defined by opulence and privacy.
-
Staggering Incomes: The median household income in Indian Hill is among the highest in the country, often cited at over $218,000 per year.
-
Sprawling Estates: This is not a town of dense, suburban neighborhoods. It is known for its sprawling, multi-million dollar estates, with many homes valued between $1.4 million and $4 million.
-
Exclusivity: The village was designed to feel like a private, rural sanctuary, with a strong emphasis on preserving green space and maintaining a low-profile, exclusive atmosphere.
The Most Expensive Real Estate: New Albany
If the title is based on the most expensive typical home sale, the competition moves to a master-planned community outside of Columbus: New Albany.
In recent years, New Albany has emerged as one of the Midwest's most desirable and expensive real estate markets.
-
Million-Dollar Market: New Albany is regularly cited as Ohio's most expensive city, based on median home sale prices that have climbed to over $1,045,000.
-
Master-Planned Perfection: Unlike the old-world estates of Indian Hill, New Albany is famous for its elegant, Georgian-style architecture, white fences, and meticulously planned communities.
-
Corporate & Tech Hub: The city's high cost of living is also driven by a booming local economy, which has attracted major corporate headquarters and massive tech investments.
Ohio's Other Pockets of Wealth
While Indian Hill and New Albany battle for the top spot, they are not the only affluent areas in the state. Wealth in Ohio is concentrated in the suburbs of its three largest cities.
-
Around Cleveland: The eastern suburbs are famously affluent. This includes towns like Hunting Valley (median home price over $1.3 million), Gates Mills (often the state's richest ZIP code), and Pepper Pike (median household income over $182,000).
-
Around Columbus: The "Emerald City" of Dublin is a major center of wealth, with a median household income over $158,000. It is joined by other expensive suburbs like Powell, Bexley, and Upper Arlington.
-
Around Cincinnati: Beyond Indian Hill, wealthy suburbs include Madeira, Montgomery, and Symmes Township, all of which boast high incomes and home prices well above the state average.
Summary: Ohio's Wealthy Enclaves
While Ohio is an affordable state overall, its most expensive places are concentrated in exclusive suburbs around its three major cities. The Village of Indian Hill near Cincinnati often ranks as the "richest" based on its staggering median household income. However, New Albany, a master-planned community near Columbus, frequently claims the title of "most expensive" due to its high median home sale price, which averages over $1 million. Other significant pockets of wealth are found in the suburbs of Cleveland (like Hunting Valley and Pepper Pike) and around Columbus (like Dublin and Upper Arlington).
