Ron Edmonds/AP - The Washington D.C. area, including suburbs in Maryland and Virginia, are benefiting from a healthy job market in 2012, much of it linked to the federal government. Demand for homes is consistently strong, and foreclosure activity in the metropolitan area slowed in the first half of the year.
But if the income figures are only approximate, the trend is clear.
The District, which the census compares to both states and counties, has seen its ranking shoot up in the last five years as its median household income has risen from $54,000 to about $63,000. When compared with states, it rose from 16th to fifth. Compared with counties, it ranks 125, up from 247.
New 2011 Census Bureau data show that the Washington region dominates in the list of highest income U.S. counties.
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Seven of the nation’s 10 wealthiest counties are in the D.C. region, according to census numbers.
Local areas were singled out as being among the most diverse places in the country.
Median household income dropped, while the top fifth of households had a 1.6 percent increase.
The Washington region’s relatively resilient economy and emerging hipness helped it gain young adults during the recession.
The high household-income levels throughout the region reflect its success in attracting newcomers who work in private business, a growing sector of the economy, as well as the federal government.
“This is a result of the moves of the Northrop Grummans, the Hiltons, the Volkwagens, the SAICs,” said Jim Dinegar, head of the Washington Board of Trade, citing corporations that expanded their presence in Washington in recent years. “They provide high-paying, good jobs that bring more of these people to the area.”
Loudoun County, with its proximity to the high-tech corridor around Dulles International Airport, has watched its population soar over the past five years. Amid one of the nation’s worst recessions, its median household income declined for the first time this year, but only by $400, which is well within the margin of error.
Residents take pride in living in the most affluent county in the country, said Scott K. York (R), chairman of the Loudoun County Board of Supervisors.
“Every time it comes to the budget, everybody comes up and says it’s the wealthiest county, so we should fully fund the school budget,” he said. “We use it often when we try to recruit businesses to Loudoun County.”
With a broad level of affluence in so many places, many residents no longer notice it.
Gordon J. Bernhardt, president of the investment advisory firm Bernhardt Wealth Management in McLean, said he thinks San Diego and San Francisco feel richer.
“If you ask people if they’re affluent, they’ll say they’re not,” he said. “We’ve got some very successful people. They know they are successful. But they probably don’t define themselves as affluent.”
Wealth can introduce a whole new set of problems.
Lisa Sturtevant, a former Arlington County demographer now affiliated with the Center for Regional Analysis at George Mason, said one downside to having so many high-income residents is affordable housing becomes scarce. Arlington has lost residents earning less than $75,000, while gaining those earning more than $100,000.
Sturtevant, however, doesn’t live in Arlington County. She’s a resident of Alexandria, just across the county line.
“I couldn’t afford to live in Arlington,” she said.
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