Greater Washington Has Nation's Wealthiest, Most Educated Population

June 8, 2006 - 9:04am

WASHINGTON -- Your neighbors seem to be doing well and they're pretty well educated, right?

Actually, a new report out Thursday finds the greater Washington area to have the nation's wealthiest households and most educated workforce.

The 2006 Regional Report by the Greater Washington Initiative compares the area to nine major metro areas around the nation.

The median household income in the Washington region is nearly $72,800. San Francisco is ranked second with household income at $71,200 and Boston third with household income reported at $64,000.

The report also finds the greater Washington area has the most PhDs per capita, as well as four of the nation's top five counties for graduate degrees per capita.

The report also says by 2010 the region's population will grow by 8.5 percent and half of the area's population will be minorities.

"Diversity makes a more interesting place to live and we believe that will cause more educated people to live here," says Greater Washington Initiative Executive Director Tim Priest.

The region's success is fueled by record federal spending in recent years, the report finds. The region added 270,800 jobs between 2000 and 2005, outpacing Miami, the nearest competitor by nearly 62,000 jobs, a news release says. During the same time frame, Boston, Chicago, New York, and San Francisco all had net job losses.

Priest says the region's success is not without drawbacks, namely high housing prices and heavy traffic. He says his organization is working to understand another of the area's problems -- job shortages. A report this fall will analyze what industries are hit the hardest.

WASHINGTON -- Your neighbors seem to be doing well and they're pretty well educated, right?

Actually, a new report out Thursday finds the greater Washington area to have the nation's wealthiest households and most educated workforce.

The 2006 Regional Report by the Greater Washington Initiative compares the area to nine major metro areas around the nation.

The median household income in the Washington region is nearly $72,800. San Francisco is ranked second with household income at $71,200 and Boston third with household income reported at $64,000.

The report also finds the greater Washington area has the most PhDs per capita, as well as four of the nation's top five counties for graduate degrees per capita.

The report also says by 2010 the region's population will grow by 8.5 percent and half of the area's population will be minorities.

"Diversity makes a more interesting place to live and we believe that will cause more educated people to live here," says Greater Washington Initiative Executive Director Tim Priest.

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