Not surprisingly, when Bloomberg published a list of America’s 100 Richest Places, many communities in the Washington, DC area made the list. Our area has long been home to highly educated residents commanding top salaries in fields as varied as technology, security, government contracting, law and medicine.
In Montgomery County, Travilah came in the highest at number 24 with Potomac just behind at number 44. A few tics down finds Chevy Chase and Darnstown at numbers 60 and 62 respectively. Bethesda makes a decent showing at number 75. The average yearly household income in Travilah was $266k and in Bethesda it was $208k.
On the Virginia side of the river, McLean, Wolf Trap and South Run were numbers 23, 36 and 91 on the list with an income range of $269k to $198k.
While average incomes tell a lot about an area, they do not present the entire story of course. In addition to being ‘rich’ from an average annual income perspective, we would argue that just as importantly, our area is highly educated, rich in culture, steeped in history, beautifully diverse and a fantastic place to live, work and play.
Historically high incomes have also lead to historically high rates of homeownership in our area which means a tight real estate market for most buyers.
If you want to learn more about the richest communities in our area, or are looking for neighborhoods where your income can stretch to afford more house for less then give us a call; we are happy to help you navigate the waters!