D.C. Suburbs Dominate Forbes’ List of Wealthiest Counties
Forbes magazine recently published a list of America’s ten wealthiest counties, and surprisingly (or not) exactly half were found throughout the Virginia and Maryland suburbs of Washington, D.C.
The number one richest county, Falls Church City, Va., is located about six miles from our nation’s capitol and boasts a median annual household income of $113,313. According to Forbes, northern Virginia has in recent decades become an “economic dynamo, driven by a private sector that feasts on government contracting.” Corporate lobbyists, lawyers and consultants are attracted to the area because of its commuter convenience to Washington.
Also listed in the top ten are Loudoun County, Va.; Fairfax County, Va.; Howard County, Md.; and Fairfax City County, Va. — all of which claim median annual household incomes of more than $96,000.
These counties’ healthy economies can largely be linked to significant government presence in the area and/or government-related hiring. The unemployment rate in areas such as Falls Church is down to 5.7 percent because of the jobs Washington provides, further establishing the Capitol as a primary economic powerhouse.
To compile its data, Forbes examined the Census Bureau’s median annual household income estimates from 2005 to 2009 for every county in the nation. The estimates are shown in 2009 inflation-adjusted U.S. dollars.
—Alexandra Gehringer
