24/7 Wall Street, a financial news and opinion company with content delivered over thr internet and featured on various national websites, used five-year estimates of median household income from the U.S. Census Bureau’s 2019 American Community Survey (ACS) to create its list of “25 Richest Cities in America” list For 2022. Included in its list are two areas (technically not cities) in Montgomery County– Potomac (ranked 7th) and Bethesda (ranked 20th). The list only includes municipalities with populations greater than 25,000. Olney is also ranked 44th on this list.
“Based on the 2019 five-year ACS data, many cities in America were noticing a massive rise in income, with much of the wealth concentrated in California—a whopping nine of the 25 richest cities in the U.S. are located within the state. Despite being home to more than a third of the country’s richest cities, California is not the richest state—Maryland, with a median household income of $86,738, is—nor is it home to the richest city.”
7. Potomac, Maryland
> Median household income: $195,884
> Adults with at least a bachelor’s degree: 80.6% — 11th highest of 1,775 cities
> Poverty rate: 3.4% — 65th lowest of 1,775 cities (tied)
> Median home value: $893,800 — 47th highest of 1,775 cities
> Population: 45,940
20. Bethesda, Maryland
> Median household income: $164,142
> Adults with at least a bachelor’s degree: 85.9% — 2nd highest of 1,775 cities
> Poverty rate: 3.5% — 73rd lowest of 1,775 cities (tied)
> Median home value: $911,000 — 44th highest of 1,775 cities
> Population: 63,195
The full list can be seen here. Featured photo courtesy of Montgomery Planning
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