Digital Properties Manager
Continuing a trend that started in 2007, Loudoun County, Virginia, has the highest U.S. median household income, again. According to U.S. Census Bureau reports, Loudoun comes in this year at $135,842, an increase of nearly $1,400 per household.
This incredible run as the top median income in the U.S. has happened despite the county’s incredible growth over that span. In 2007, the median income for Loudoun County was $107,207, the first time that it took the top overall spot. Loudoun’s median income has grown by 26.7 percent in the last 11 years.
The gap between Loudoun and this year’s second place jurisdiction, Santa Clara County, Calif., is nearly $17,000 (12.4 percent).
Median income is an important economic indicator because it indicates the buying power of a county’s residents. It is favored over the average incomes because it is less susceptible to skewing by outliers.
Part of Loudoun’s success can be attributed to having one of the most educated workforces in the country (nearly 60 percent have at least a bachelor’s degree), as well as one of the lowest unemployment rates in the region (2.3 percent as of October).
Loudoun County’s key business sectors of information technology, health data analytics and federal government contracting benefit from locating in an area with such a top-notch workforce.
If this sounds like the right combination of business success and quality of life, then let us help you start or locate your business in Loudoun County. Give us a call today at 1-800-LOUDOUN.