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Thursday, September 15, 2011

Fort Thomas... Not That Wealthy


The Biz Journals publication, publisher of the Cincinnati Business Courier published a listing of communities around the country they considered to be the wealthiest.  The ranking is based on a percentage of households earning over $150,000 annually.

According to this ranking Fort Thomas was the 1,774th wealthiest community in the US and the fifth wealthiest in NKY behind Union, Lakeside Park, Villa Hills, and Edgewood.  According to this study 15.21% of households earn above this threshold and 34.75% earn above this amount when you factor in interest, dividends, or rental income.

I am sure there are other ways you could measure this and I am not sure it means anything other than just an interesting statistic.  Nevertheless this feeds into the issues with school funding that we have chronicled in the past and will continue to be an issue as long as the school funding formulas in the state of Kentucky remain unchanged.

3 comments:

  1. You incorrectly read that study. 34.75% simply earn interest, dividends, or rental income. Not that these factors raise households above the threshold: "The chart also shows the percentage of households that draw income from interest, dividends or rental units"

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  2. How many US communities are included in the study? Ft. Thomas could be 1774 out of 1775 or 1774 out of 10,000 or 100,000. I think it is important to know that figure.

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  3. According to the referenced study, Fort Thomas ranked 25th out of 237 cities in Kentucky in median household income. Considering there are 212 cities with a lower median household income (in most cases MUCH lower) and considering that the median household income of Ky as of the 2009 census was $40,061, you are not making a very convincing argument regarding the school funding issue. It makes me wonder how often you have been "down state" as the locals like to call it. By Ky standards, Fort Thomas is rolling in the dough.

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