Maryland’s richest town is located in Montgomery County

Did you know that 24/7 Wall St. ranked Maryland, with a $70,004 median household income, as the richest state in the Union back in 2012? They also deemed the Washington DC metro area as the richest city in the country with a median household income of $86,680.

According to 24/7 Wall St:

“Maryland, which has had the highest median income of all states since 2006, was the only state in the country to have a median income above $70,000 in 2011. The state’s 10.1% was well below the national rate of 15.9%. Furthermore, a sizable portion of the population is earning well above the median income. Maryland is one of three states, along with New Jersey and Connecticut, where more than 10% of families earned more than $200,000 in 2011. Across the U.S., only 5.6% of families made more than $200,000 in 2011.”

However in their recent list of state by state richest towns,  Montgomery County’s Poolesville is crowned Maryland’s richest town, with a median household income of $135,430 and a listed population of 4,977.  Visit the Town of Poolesville’s official site.

24/7 Wall Street had this to say about Poolesville:

“With Maryland households the wealthiest in the nation, Poolesville was not just the richest in the state but also among the richest nationwide. A typical household in the town earned $135,430 annually. Maryland was also one of just 10 states where the difference between the poorest and richest towns’ household median income exceeded $100,000.”

Are you curious to see what Poolesville homes are like?  View the pictures and virtual tours of Poolesville MD Homes for Sale.

What’s in store for housing and the economy – a look ahead

The National Association of Realtors® posted on May 14th a slideshow on Economic and Market issues and outlook.  The slides show home price trends increasing, and seasonal differences in pending and home sales; as well as projections of home sales into 2016.  Graphs also depict declining affordability; as well as regional differences (Northeast trend is not promising).  Projections of existing homes sales for 2015 and 2016 are very optimistic; and time will tell if those projections hold true.

Residential Economic Issues & Trends Forum by REALTORS®