Analysis: Maryland tops states for wealth

WASHINGTON — Maryland is the wealthiest state in the union, according to an analysis by 24/7 Wall St.

Virginia isn’t far behind, coming in as the eighth wealthiest state. The District was not evaluated by the Delaware-based finance news site.

The site based its rankings on 2014 census data and Bureau of Labor Statistics information.

Maryland earned the top spot with the highest median household income in the nation, $73,971, and the second lowest poverty rate at 10.1 percent.

However, the state also has one of the highest costs of living in the country. Home values are also among the highest in the nation. Nine percent of Maryland households earned $200,000 or more last year, higher even than neighboring Virginia.

In No. 8 Virginia, 8 percent of households earned more than $200,000 in 2014 and more Virginians have earned at least a bachelor’s degree compared to the national rate. Virginia also has a low poverty rate — 11.8 percent, which is the 12th lowest in the nation, and an low unemployment rate of 5.2 percent.

A typical Virginia household earned $64,902 in 2014, which is higher than the national median income of $53,657, according to 24/7 Wall St.’s analysis.

In Northern Virginia, Loudoun and Fairfax counties are considered among the wealthiest counties in the nation, as are Howard and Montgomery counties in Maryland.

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