For what it’s worth, one of the brightest feathers in Loudoun’s cap is its continual designation as the ‘richest county in the nation.’
The county has held the top spot, intermittently swapping with neighboring Fairfax County, for the past five years. Loudoun’s median household income totals $119,540 followed by Fairfax County with a median income of $103,010; Howard County, Md., at $101,771; Hunterdon County, N.J., ($97,874); and Arlington County, Va., ($94,986).
Loudoun’s median income exceeds that of other localities because of the prevalence of dual-income households and a better job structure, according to Dr. Stephen Fuller, the director of the Center for Regional Analysis at the School of Public Policy at George Mason University. The designation points to the fact that the pay structure in the Washington, D.C., area is generally higher than other areas because the local economy supports more professional and business service jobs and less blue collar industries such as manufacturing.
“The Washington, D.C., area continues to be one of the economically strong regions more so than most other places,” said Ben Mays, deputy director of Loudoun’s Department of Management and Financial Services.
Mays echoed Fuller’s statement that a highly educated workforce, which often translates into high wages, coupled with a high proportion of married or dual-income earners in one household equates to elevated median incomes.
But, Loudoun does not trump counties outside other major metropolitan areas in New York or California in terms of actual wealth. Fuller notes the years-long designation overstates Loudoun’s wealth and “isn’t very meaningful when it comes right down to it.”
For starters, most of the area’s top-paying jobs aren’t earned within the county. The incomes earned by those living in Loudoun are oftentimes culled outside its borders, most likely at jobs based in Fairfax and Arlington counties or Washington, D.C. Loudoun is not home to the largest number of millionaires nor does the designation shed light onto the range of salaries earned, he said.
Instead, the survey more likely reflects the presence of a large, upper-middle class income population with an age structure comprising 30 to 40 year-old workers who seek suburban housing.
Housing in Loudoun is relatively new compared to the rest of the metropolitan area, much of it having been built within the last 15 years. Since 1990, Loudoun has been one of the fastest growing counties in the nation and has homes that are pricier, resulting in hefty mortgages that need to be supported by large salaries, Fuller said. That being said, the average wage of a federal government worker hovers around six figures, he said.
The metropolitan area, including Loudoun, is one of two areas in the nation showing year-to-year increases in home value, Mays said, making Loudoun a “desired quarter of the area where people want to live.” The median home sales price in Loudoun is $447,100 on a one-year estimate, according to the U.S. Census Bureau.
Several sources, including Forbes Magazine and American Community Survey, release similar U.S. Census Bureau data on a bi-annual basis. A report released by the media outlet Main Street Feb. 16 reaffirmed Loudoun as home to the top median income earners while also terming the county as a place where “the 1% live.” The “1%” references those Americans who are in the top one percent of wealth in the nation and is a term used frequently among media outlets to show the growing gap between the rich and poor in America.
Main Street said Loudoun “trounced the competition on the way to becoming the richest county in the nation.” In 2010, the most recent data available, Loudoun’s median household income was more than double that of the nationwide median of $50,046. Virginia’s median household income was $60,674 and the Washington, D.C., metropolitan area’s was $84,523. In the Washington, D.C., metropolitan area, the “top 1%” earn $357,000 annually. That’s slightly more than “the top 1%” of income earners nationwide who earned, in adjusted gross income, $343,927 or more in 2009, according to Kiplinger.
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“It absolutely does NOT matter that household income in other states is *lower* if the cost of living is much lower as well. Plus, as a bonus, their comfort of life may be higher, etc.”
.... and they don’t have to deal with Loudoun County *politics*
Loudoun County is also located in the HIGH COST of LIVING area.
$119,540 household income is NOT high IF it the housing expenses alone gobble up over 2/5 of that income - more for some people. Ad to that other expenses (plus taxes) and just to survive it costs $100,000.
It absolutely does NOT matter that household income in other states is *lower* if the cost of living is much lower as well. Plus, as a bonus, their comfort of life may be higher, etc.
In 1969 you could buy a farm with lrg 4 bedrm house for 25,000 now you can not even find a lot under 200,000 funny how all these polls and charts do not tell how they distroy all the greatest farm land right into building trash housing and 100 million dollar schools so much for the life in Loudoun County with hummble people it is a laugh now people are so stuck on themselves it’s just like new york nobody knows anybody or how to be human, taxes and fees to make those who control it wealthy so much for our former reidents if there is any left!
@JP Crowley
VeriSign moved to Reston last December ...
Yea its a few of us carrying alot of dead weight.
The average federal employee compensation is $126,000.
A husband and wife working for the government would almost be considered “rich” by Obama’s definition (>$250,000).
I agree that Loudoun is not a county full of 1 percenters. However, household incomes are higher. There are paradoxes created by those for less Federal government. That is a government that provides incomes directly or indirectly to the demographic. To the point that a smaller government would have a direct affect on Loudoun’s houshold incomes.
Additionally, with one third of the County’s population consisting of children under the age of 18, arguments regarding the school budget seem to misunderstand the larger picture implied by the data.
So many fools. It’s not saying that we’re rich, its saying that we’re professionally employed.
Which is ironic, given how many of the readers here don’t know the difference between median and average, between household income and individual income, and how these numbers don’t mean we’re actually wealthy.
I don’t get the point you were trying to make. Many people who ‘appear’ to be doing better aren’t. They’re just up to their hood ornaments in debt. As for wearing a mink on a 50’s ish day? I was, trust me…and why not? The girls wear their Uggs in September with shorts, and flip flops in January with their flannel pajama bottoms. Overall, a nice presentable look for school *note sarcasm*.
West Bus, so what. So 1 girl wears a mink coat, which I highly doubt on a mid 50 degree day. And why kids/boys talk about driving, I highly doubt every kid gets what they ask for, even in Loudoun county. Here’s a fact. The reason some families/parents appear better off is they do something called a budget and stick with it. I would have loved to have a bigger family. I would have loved to take great vacations, buy a nicer house or buy a new car every 2-3 years…. Instead I used common sense and a budget. And like most budgets, you have to cut back in one area to offset an increase in another area. Now if only Loudoun county could be run the same way. I don’t mind giving Loudoun county workers a raise, however when I go into a Loudoun county office about my small business and 4 people are sitting around doing nothing and nobody steps up to help me(only took 5 min however was given conflicting information from what was told on phone and wasted my time), then perhaps it’s time to cutback on staff.
I’m sorry, but I can’t feel badly for all of the self entitled LoCo residents. When I have High School kids on my school bus talking about getting BMW’s and Lexus’ once they get their licenses. I drive through nice neighborhoods and count the empty houses. Yesterday a girl walked out of Valley High wearing a mink coat! Yes, I know what a mink coat looks like. Now she may have gotten it from Grandma, or a consignment shop, but what is that teaching? Good luck to all of these kids who think they’re going to do better than their parents, since they’re parents didn’t do as well as they were thinking they would! I guess that explains much of the caustic behavior around here.
That’s racist…
Loudoun is also
#1 Highest Debt Service than that of
surrounding school districts at 15%, next
highest Fairfax at 8%.
#1 Highest Real Estate taxes in the DC Metro
Region
Where’s that story?
@ Smoke and Mirrors: which makes my point further. I also forgot to include student loans.
My mortgage is $700 cheaper than what the average would be. I don’t have any car payments or student loans (but I have an MBA), no kids in daycare (4 kids though) and don’t indulge in any of the other things. Because of that, I’m able to max out a 401K, 2.5 IRA’s and save for college. I also tithe. Having such a low income tax liability helps, but that pretty much maxes me out, and my household income is right at the average. Add a car payment, etc. and forget it. Savings rate gone.
My point isn’t to perpetuate class warfare or sound envious; it’s just to reiterate the key principles found in books like, “The Millionaire Next Door.”
“right wing freak” - I think you mean luxury car LEASES, not luxury car PAYMENTS.
Research what percentage of BMW 3-series are leased versus purchased. Gotta create the illusion that you have money.
It’d be interesting to look into the lives of a sample size and see how “wealthy” some really are, especially in light of the economic downturn.
I would imagine that high mortgages (depending on when homes were bought, but current average would be $350K on a $450K home) and their associated taxes, day care (those things are everywhere in Loudoun) and luxury-car payments erode much of the incomes of our residents. Then add those who get maid services, landscaping, food prep, tutors, pet care, etc. There’s no way you can amass a significant amount of wealth on $120K income with these items in your budget.
People need to learn the difference between “high income” and “wealthy”
“High income” is simply taking in lots of money each year.
“Wealthy” is related to your net worth. Your net worth is your assets minus your liabilities. If you own a house that is worth 1.5 million and you owe 500k, your net worth is 1 million (i.e. you’re a millionaire). If you own a house that is worth 200k, but you own 300k, your net worth is -100k. There are other assets and liabilities out there (student loans, cars, etc.), but I am trying to keep my examples simple.
Considering how much new construction was built in Loudoun during the real estate bubble, I bet most people’s homes are underwater and they actually have a negative net worth. That is NOT wealthy.
People need to learn the difference between median and rich. We are wealthy for middle class people; we are the top of the 99%ers not in the 1%.
Loudoun can afford to sterilize Bambi and texters.
Wealthiest yet we have the highest taxes in the State. Something ain’t right.
the term “median income” is a totally false number for “average” income as it is interpreted. it merely means “middle” number, not the average. for example, if you have 100 people earning money between $100 and $1000, the median number average would be $600. but, if 99% of those people only made $100, instead of the $1000 the actual average is only $109.
this example may be a bit extreme but is far more accurate a representation of reality. only a small portion of our population of loudoun makes above the median income, maybe 5%. yet the median income indicates that 50% make over that income. the sad truth is, if you don’t make that median income, you are struggling to survive here.
we need to stop putting out numbers that make us sound so rich and great, and start dealing with the reality that things aren’t so great in loudoun county afterall.
When you adjust for cost-of-living, Loudoun is nowhere near #1. Yes, I know this data is from 2006.
http://www.coli.org/COLIAdjustedMHI.asp
This is a great counterpoint to the “wealthiest county” designation, which I despise because it is simply not accurate. I truly believe that the prevalent parental “we’re the wealthiest, so give us the best” whining and complaining stems from misinformation like this. Despite the fact that I am part of a highly educated, low-debt, dual-income family, we are simply “middle-class” and no more, and just about everyone we associate with is in the same boat.
I love my life, but I’m by no means ‘wealthy.’ I still have to sit in traffic each and every day on Rt. 7 because a ride on the Dulles Greenway/Toll Road is over $10 dollars and adds 10 miles over the shortest route to my employer, and because there are no mass transit options for my commute from Leesburg (bus, rail, whatever). My kids are doing just fine, however, I know they would have benefitted much more having mommy home a bit earlier than weekly Spanish lessons in elementary school.
“Wealthiest” gives the impression that living in NoVA is easy. It isn’t. Our citizens work very hard for that designation. It’s time we hard-working folks start getting the respect we deserve from our politicians and LCPS school board members.
My heart bleeds for the Loudouners up to their eyeballs in debt. Boo-Hoo! They’re in debt to support a pretentious, name-brand ‘lifestyle’ that requires driving German phallic symbols, carrying Coach bags, and wearing North Farce jackets instead of reasonable quality alternatives
It’s a shame our federal tax system doesn’t take into account cost of living adjustment. Instead they’d rather give money to a parent or family that has many dependents..Cap the dependent limit to 3.
I’m really proud of LoCo. We have 7 public golf courses and 6 private golf clubs with 8 courses. Golf with all the equestrian activities available, where is there a better place.
I agree. Having this title is not a good thing. It might as well be “Snobbiest in the nation”
“The Richest County” is really not the title you want, because it breeds the view that “we” demand the most expensive school system, the most expensive county government service machine, the highest taxes. Parks, ball fields, roads, roads, roads, a school every other block, and board of supervisors with aids, expense accounts, and EGO problems. All in all, we are in big trouble.
Captain Obvious— Newsflash:
Neustar
Verisign
Verizon
HHMI
Airbus
Orbital
United
...the list goes on and on. Yes, businesses are locating to Loudoun to either tap into its highly skilled and educated workforce or to tap into the wallets of its highly skilled and educated workforce. Issues of politics and conservative beliefs won’t stop that.
Let’s blame everything on the Republicans! Well, your precious Democraps have had a majority both here in LowDown and at the national level. Your party has done such good for this country. Tax and spend liberals. Time for you little cry babies to man up and take responsibility for your equal part of ruining this great nation.
Of course I realize the people of Loudoun County elected these prehistoric bigots. That’s why you won’t see any large corporations setting up shop in this county.
Captain Obvious—You do realize the citizens of Loudoun elected Black and Delgaudio? Maybe you need to realize that our representatives are a reflection of the population. If you don’t like it, move some place else. Take your liberalism to Alexandria.
As for Loudoun and Wealth, everybody’s money is going into Housing, Daycare, and general living expenses. It’s not like people have money to burn. Also these numbers are skewed by the fact that Loudoun doesn’t have a lot of poor people to pull down the averages.
No big businesses are coming here when we have idiots like Eugene Delgaudio and Dick Black in office. Loudoun County is run by the American Taliban. Fairfax wins every time when it comes to attracting new business, Loudoun doesn’t stand a chance.
I agree that while incomes may be high, most of it is going staight to paying exhorbitant mortgages, taxes, daycare, college loans and gas. There’s little left over. I notice that prices are 20 percent higher here than say in surrounding rural areas—everyone’s out to gouge the “rich” Loudouners. I have noticed that the Dulles Town Centre mall seems to struggle to hold on to chain stores. They are being replaced by cheesy-looking shops that sell cheap and tacky nick nacks from overseas. I see more people at discount big box stores than I do at that mall—that is people who are actually shopping. A certain “anchor store” at the mall seems to have a desparation sale going on every week.
@ Shift the Focus
How’s this?
Problems: 1)Highest property taxes in the state of VA
2) Few large employers in LoCo resulting in massive commutes/traffic
3) Local governemnt spending that increases at double digit rates every year
Solutions:
1) Cap property tax growth rate at inflation plus population growth
2) overhaul zoning regulations to encourage businesses to locate here, not in Fairfax
3) Stop rezoning land for residential uses (Probably too late now)
How’s that for a start?
1) Low business proprty tax base relative to residential tax base
2) Unattractive business climete due to
I’ve always thought “wealth” is more accurately depicted by net worth rather than salary. How many Loudouners have $250k for a household income, but are up to their eye balls in debt and have zero net worth? You need “old money” and net worth, hence why the NY/NJ/CT suburbs tend to be truly “wealthier” than an area like this.
The real falacy in this “richest county in the nation” is that it doesn’t mean that there aren’t poor people here too. Not everyone is rich here or anywhere. So when Hat Trick cites the rich standing he is ignoring most of the people in the county. Get real! Not everyone in Low Down County can afford the high taxes!
Quit raising our taxes!
So laughable. It only took two comments to turn this into a school spending debate. How about we look at another section of this article that talks about the dual incomes being earned outside of the county, and THAT being a reason that Loudoun is short on money. Let’s open up the barn doors and let some business out in this rural town. Stop chirping about problems and start creating solutions.
Spend on schools like a drunken sailor. But it’s for the kids darling Oh wait they might take my benefits away or make me work for them or increase my premium. Oh well lets get another bottle and put it down as a research tool.
Thank you fo rfinally putting an article together on this. We constantly hear that Loudoun County is the wealthiest—-and therefore can afford to spend, spend, spend—-and it is a farce. We don’t have piles of money in the bank (we are $1.3B in debt) but we have a high income because of dual income couples.
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