By Sandhya Somashekhar
Washington Post Staff Writer
Sunday, September 7, 2008

Despite a sagging housing market and shaky economy, Loudoun remains among the wealthiest and fastest-growing counties in the nation, according to recently released U.S. Census Bureau data.

Loudoun had the highest median income last year among counties with 250,000 residents or more, with the average Loudoun household making about $107,000 a year, according to numbers released last month.

Loudoun first earned that distinction in 2005 and was overtaken by Fairfax County in 2006. In 2007, Loudoun was about on a par with Fairfax, where the median income was about $105,000. The numbers are not statistically different, according to the Census Bureau analysis, which is based on a sample.

Prince William and, in Maryland, Howard and Montgomery counties also made the top 10 list.

Loudoun officials said the rating is an indicator of the county's highly educated workforce and its concentration of double-income households. In addition, the county has a very low poverty rate.

The rating reflects well on the region overall and is a feather in Loudoun's cap, said Larry Rosenstrauch, director of the Loudoun Department of Economic Development.

"It's certainly a nice thing to be part of that elite group, but it also has some real advantages," Rosenstrauch said. For example, the ranking is helpful in attracting a variety of retail establishments to the county, including higher-end stores such as Wegmans and Nordstrom and companies that need a well-trained workforce, he said.

The rating is also a reminder that Loudoun taxpayers send more to Richmond than they get back in services, Board of Supervisors Chairman Scott K. York (I) said. County revenues largely come from real estate taxes. Virginia collects income taxes and redistributes them to local governments, based in part on need.

Earlier this year, the Census Bureau ranked Loudoun one of the top five fastest-growing counties from 2000 to 2007, among those with populations larger than 10,000. Loudoun was rated the nation's fastest-growing county in 2004.