With our tough traffic and steep fall in home prices since 2005, you may
feel put upon. But count your blessings. Our unemployment rate is half the national average and homes under $400k are flying off the shelf often with multiple offers on them (yes...it is true). Our housing inventory is half of what it was this time last year.
That's good news for our residents, our economy and our real estate market…… the economic news might be bad nationwide, but the Washington DC metropolitan area in general and Northern Virginia specifically is financially strong.
Our median family income is far and away the best in the country. Of the top 20 counties nationwide, 9 are in our area: 6 in Northern Virginia and 3 in suburban Maryland.The last complete year available is 2008. It looks as if Loudoun will be slightly ahead of Fairfax for 2009...but it's all good news for those who live her and our new friends who are coming in the future.
Check the numbers below and be happy!
US counties with the highest median family incomes for 2008
1 Fairfax County, Virginia $100,318
2 Loudoun County, Virginia $99,371
3 Howard County, Maryland $94,260
4 Hunterdon County, New Jersey $93,297
5 Douglas County, Colorado $92,125
6 Somerset County, New Jersey $91,688
7 Morris County, New Jersey $89,587
8 Montgomery Cty, Maryland $87,624
9 Arlington County, Virginia $87,350
10 Nassau County, New York $85,994
11 Marin County, California $85,892
12 Stafford County, Virginia $85,014
13 Calvert County, Maryland $84,891
14 Santa Clara County, Ca $84,838
15 Forsyth County, Georgia $83,682
16 San Mateo County, Ca $82,123
17 Putnam County, New York $81,907
18 Williamson County, Tenn $81,449
19 Prince William County, Va $80,783
20 Alexandria City, Va $80,449
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Jan and Steve Bachman are full time Realtors® with RE/MAX, specializing in Homes for Sale in Fairfax, Loudoun, Prince William and Arlington Counties.
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http://northern-va-homesforsale.com/
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Steve, that is of course good news on the home front. While our economy here remains strong, the median income level is not near yours with a median income in Madison of: $78691. in 2008.
Interesting facts. I had no idea that Fairfax was so prosperous. I would like to think that would be a saving grace to your local housing markets. Keep up the great posts! Nice information!
Jason,
we have taken a beating in our housing market despite our economic wealth and partly because of it. In many areas, especially in what was the $750k + bracket in 2005, values have fallen by $200k. That's a lot of UPSIDE DOWN! The under $400k market in today's values seem to have hit bottom and are moving up in some areas.
Thanks for stopping by