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What do the five richest counties in the U.S. have in common?
Before we answer that question, let’s add some context to it. According to U.S. News & World Report, the median household income for counties around the nation is $57,652.
What constitutes a household? According to the Census Bureau, a household refers to a single housing unit and all of the people that live in it. For example, a studio apartment, one half of a duplex, and a mansion are all considered a single household. Family households have related residents, such as a husband, wife, and children. People who aren't related who live together, such as roommates or unmarried couples, also constitute a household.
Also, the median household income refers to the income level earned by a given household where half of the homes in the area earn more and half earn less. It's used instead of the average or mean household income because it can give a more accurate picture of an area's actual economic status. Median household incomes are frequently used to determine housing affordability.
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Median household incomes are frequently used to determine housing affordability.
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Now, the one trait that all five richest counties in the U.S. have in common is...they’re all located around the DC area:
1. Loudoun County, Virginia: $129,588
2. Fairfax County, Virginia: $117,515
3. Howard County, Maryland: $115, 576
4. Falls Church City, Virginia: $114,795
5. Arlington County, Virginia: $112,138
As always, if you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d be happy to help you.
