The Seal of Loudoun County
The Seal of Loudoun County

 

Loudoun County is #1 jurisdiction in wealth.  Prince William takes a paltry 14th place in national wealth, according to Forbes Magazine.   The rankings were done on the median household income from the 2008.  The following local counties are as follows:

 

 

Here are the  local jurisdictions in the top 25:

 

    1.  Loudoun County
    2. Fairfax County
    3. Howard County
    6. Fairfax City
    9. Arlington County
    10. Montgomery County
    12. Stafford County
    13. Calvert County
    14. Prince William County
    16. Goochland County, Va.
    21. Charles County
    23. Alexandria City

Dr. Stephen Fuller, economist at GMU, informed WTOP that one reason so many local counties made the top 25 list because unemployment in this area is low.

We’re getting richer and probably this reflects the fact we were less damaged during the recession. Our unemployment is only 6.2 percent, which is high for us, but it’s way down compared to the nation.”

Fuller says most of the local counties are also fueled by duel incomes

The Forbes Magazine link shows all 25 of the richest counties/jurisdictions. Some of them are surprising. Virginia and Maryland certainly came out with the most winners.

Congratulations to all the winners.  Does everyone feel like they are just rolling in dough?

14 Thoughts to “Loudoun County Crowned the Richest”

  1. PWC Taxpayer

    And why is our unemployment so low and the general wealth of the area so high … because the President and his party keep growing the government. Lets be specific here, because of the bank bailouts and stimulus, federal spending (which the President wants to keep on spending) again and again) will exceed 25 percent of GDP this year, and public spending at all levels will exceed 44 percent of GDP. That is Unprecedented ! And where is the disportionate amount of that benefit — why right here, in terms of spending, and employment both public and private. Indeed, this Administration is advocating converting private sector jobs that support the Government into long-term Federal jobs. In normal times (even recognizing that we are at war) federal spending shouldn’t be more than 22 percent and the public sector as a whole shouldn’t exceed a third of GDP—the previously highest level set during Clinton’s second term. This might help to explain the concerns being expressed by the Tea Party. Size does matter as a vision and in terms of absolute dollars. A government that constitutes half of a country’s economy, like those in Western Europe, produces a very different society over time than one that eats up only a third of the economy. And yet, for all our wealth, we too are “in trouble” locally. Why, because we have vocal local idiots who want to continue to rely on real estate revenues as the source of spending in the county. Its gonna get worse – a lot worse – before it gets better unless that changes.

  2. Gainesville Resident

    Maybe, but median income doesn’t tell the whole picture. Cost of living is very high here, so while the median income may be high – a lot of it is because both people need to work to afford nice houses here, etc.

    There really is no way to accurately measure things, and statistics often distort things. Obviously, people aren’t rolling in the dough here when both people need to work to pay their mortgage bills, and real estate prices are high. Although, the only good thing about the real estate bubble bursting was it helped bring prices down a bit here – although they still are high compared to lots of other areas of the country.

    I am sure the high real estate prices are one reason why incomes are so high here. Being the highest median income isn’t necessarily anything to really brag about.

    On the other hand, having lower unemployment rate than a lot of other areas of the country is at least one thing that’s good about this area. So that is a positive.

    I would however think that people with lower incomes in other parts of the country may have more disposable income left after paying their bills (mortgage, rent, utilities, etc.) than people in this area have, in general.

  3. Tax, unsubstantiated remarks there. Obama is growing the govt. What sources can you provide to reinforce those comments?

    How about the defense contractors in the area? Think that has anything to do with it?

    I get the distinct impression that you haven’t been in the PW community for long. PW has always been a bedroom community. This is old news.

  4. GR, you make some good points. I guess as long as we are comparing communities the same way, we get a general idea. What I find odd however, is that I have a relative who lives in Santa Clara county which is where Stanford U and Silicon Valley are. He lives in a house that might not be the size of yours. He paid several million for it. Everything there makes stuff here look like it is being given away. That is obscene.

    I cannot reconcile an area that is that expensive. What do people do who do not make all that much money?

    You are right, it takes many families 2 incomes to own a decent home….hell it takes 2 incomes to own a not so decent home.

  5. I also understand that Leesburg is extremely expensive and continues to get more so.

  6. Pat.Herve

    and the misinformed keep being misinformed.

    I am always amazed at the number of people who tell me that Obama was able to grow government so much – back in 2008 – while he was still a Senator. That people got tax refunds in 2009 (for 2008) taxes who did not even pay into the system.

    Deficit SPending has been going on for a while now, the deficits have been growing – but there was no tea party up roar then.

  7. Excellent points, Pat.

    Yup. that Obama is a real wiz kid….doing all that from a senate seat.

  8. PWC Taxpayer

    Moon-howler :Tax, unsubstantiated remarks there. Obama is growing the govt. What sources can you provide to reinforce those comments?
    How about the defense contractors in the area? Think that has anything to do with it>

    Here’s a start with some public data. http://www.usgovernmentspending.com/us_20th_century_chart.html

    I realize that you are not good with numbers, but in the future could you please try to not simply dismiss every argument and data that does not conform to your expectation and then add a silly non-germain derogatory remark about whether or not or how long I have lived in the county or how old we are – as if that had anything to do with my post? Thanks.

    BTW I get the problem with reliance on the County’s real estate tax. That is what I want changed. Oh, and what has the 2008 stuff got do do with my post?

  9. And obviously you are not too hot with the English language there, Tax. I asked you to provide documentation. I did not dismiss you.

    As for whether I am ‘good with numbers’ or not, you are simply not in any position to evaluate that unsubstantiated remark.

    How long you have lived in the county and your approximate age is very germain to the conversation. Correction. WAS germain. If you are a newcomer to the county I was going to fill you in on some history that you might not be privy to.

    As to the graph, I expect that spike probably shows the vast infusions of money that poured into the effort to keep us from going in to depression.

    What does 2008 have to do with your remarks? Obama wasn’t in office as president probably…I don’t remember.

    I am going to remind you again about blog manners. You seen to take great delight in insulting Elena and me. We really don’t want to have to run that kind of blog.

  10. PWC Taxpayer

    MH, as REz has tried to explain, you cannot set the tone and then complain about it when it comes back at you. New day.

  11. Gainesville Resident

    Moon-howler :
    GR, you make some good points. I guess as long as we are comparing communities the same way, we get a general idea. What I find odd however, is that I have a relative who lives in Santa Clara county which is where Stanford U and Silicon Valley are. He lives in a house that might not be the size of yours. He paid several million for it. Everything there makes stuff here look like it is being given away. That is obscene.
    I cannot reconcile an area that is that expensive. What do people do who do not make all that much money?
    You are right, it takes many families 2 incomes to own a decent home….hell it takes 2 incomes to own a not so decent home.

    Indeed, I have some close friends who transferred to Silicon Valley some years ago. They tried to convince me to do so too – and I considered it but didn’t for a host of reasons. You are right – prices there make house prices here look cheap. That much is very very true. That was one reason why I didn’t transfer there – among others.

  12. Gainesville Resident

    Moon-howler :
    I also understand that Leesburg is extremely expensive and continues to get more so.

    Indeed, some parts of Leesburg definitely are. And Loudoun County as a whole, their tax rate may increase quite a bit, and while property values have decreased some in the latest assessment – most residents are looking at most likely a HUGE tax increase this year (5-10% at least).

  13. Wolverine

    Help!!!! I’m a poor man in the richest county in the country!!! About that stimulus package…..

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