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It also has to do with how much suburban population there is in the city limits as well. San Fran and NYC have a higher than normal volume of urban wealth than many cities. But so many cities have suburban wealth within the city limits. Wealth is largely in the burbs in the US.
I always find it somewhat amazing that Baltimore, a relatively small city with some major, intrinsic challenges at so many levels (even as I loved the city upon my visit) still pulls so strong here. Is there that much tech, med or banking/construction in the city to justify these ratings. It is like Detroit still pulling equally strong in similar characteristics, God bless America but how are these cities still holding so strong in such a changing economy?
I always find it somewhat amazing that Baltimore, a relatively small city with some major, intrinsic challenges at so many levels (even as I loved the city upon my visit) still pulls so strong here. Is there that much tech, med or banking/construction in the city to justify these ratings. It is like Detroit still pulling equally strong in similar characteristics, God bless America but how are these cities still holding so strong in such a changing economy?
I would have guessed Fairfax and Montgomery Counties alone have 354,000 households making $200k+ considering the home prices are in the $500-600k range.
I would have guessed Fairfax and Montgomery Counties alone have 354,000 households making $200k+ considering the home prices are in the $500-600k range.
The entire DC CSA is well over 400,000
CSAs by the Number of Households Earning $200,000+, 2016
New York-Newark 1,000,572
San Jose-San Francisco-Oakland 536,558
Los Angeles-Long Beach 514,743
Washington-Baltimore-Arlington 469,996
Boston-Worcester-Providence 321,872
Chicago-Naperville 292,265
Philadelphia-Reading-Camden 206,418
Houston-The Woodlands 204,056
Dallas-Ft Worth 199,446
Seattle-Tacoma 176,543
Atlanta-Athens-Clarke County-Sandy Springs 157,671
Miami-Ft Lauderdale-Port St Lucie 144,743
Denver-Aurora 117,827
Detroit-Warren-Ann Arbor 117,513
Location: Midwesterner living in California (previously East Coast)
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Quote:
Originally Posted by T. Damon
I always find it somewhat amazing that Baltimore, a relatively small city with some major, intrinsic challenges at so many levels (even as I loved the city upon my visit) still pulls so strong here. Is there that much tech, med or banking/construction in the city to justify these ratings. It is like Detroit still pulling equally strong in similar characteristics, God bless America but how are these cities still holding so strong in such a changing economy?
Baltimore City was making some definite steps forward, but then has been slipping backwards since Freddie Gray/Police problems.
Baltimore MSA on the other is rising partly because more middle class/upper middle class folks are getting priced out of DC MSA proper and increasingly house hunting in places like Howard County, AA County, Frederick County. Locations "close enough" that they can commute to their DC jobs. Traditionally, these were predominantly Baltimore suburbs (and are often viewed that way statistically). But they are tilting more towards DC.
I always find it somewhat amazing that Baltimore, a relatively small city with some major, intrinsic challenges at so many levels (even as I loved the city upon my visit) still pulls so strong here. Is there that much tech, med or banking/construction in the city to justify these ratings. It is like Detroit still pulling equally strong in similar characteristics, God bless America but how are these cities still holding so strong in such a changing economy?
Baltimore has a very strong corporate sector (T. Rowe Price, Jos A. Bank, CoverGirl, LeggMason, UnderArmour, etc) and medical sector (due to Johns Hopkins University) and tech sector (my favorite video game studio - Firaxis - is based in Hunt Valley in Baltimore County). And the MSA also includes a ton of government jobs (the Social Security Administration is HQed in the Baltimore area).
As for the MSA, you also have to factor in the high-paying state government jobs in Annapolis and those who live in the Baltimore Area but commute to DC daily (where wages can be very high).
I would have guessed Fairfax and Montgomery Counties alone have 354,000 households making $200k+ considering the home prices are in the $500-600k range.
So of the 431,292 households TOTAL for Fairfax and Montgomery counties put together, you believe that 354,000 of them, or 82.08%, make $200,000 or more? LOL......................... time to come back down to reality.
The reality is that 58% of households in Fairfax County make at least 6 figures ($100K+). 22.1% of households make at least $200K which is high.
I'm not sure how much of a good thing these stats are, especially for cities like Baltimore. To me, it just points to greater income inequality, which isn't really a good thing.
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