Poolesville, Mount Airy, Hampstead: These cities aren’t just some of the best places to live in Maryland. They are also home to some of the richest people in the Old Line State.
Poolesville in particular houses the richest residents in the state thanks, in part, to a median household income of $150,000 and a ridiculously low poverty rate of 1.5%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Maryland share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.
How did we come up with these mega wealthy cities? We analyzed Census data from the 2012-2016 American Community Survey for the 41 places in Maryland with more than 5,000 people.
At the end of the day, here’s the set of the 10 richest places in Maryland for 2018:
- Poolesville (Photos)
- Mount Airy (Photos)
- Hampstead (Photos)
- Rockville (Photos)
- Bowie (Photos)
- Bel Air (Photos)
- La Plata (Photos)
- Annapolis (Photos)
- Cheverly (Photos)
For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in Maryland.
How We Determined The Richest Places In Maryland For 2018
The first thing that comes to most people’s minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the ‘richest places’. So we looked at this set of criteria from the newly released 2012-2016 American Community Survey:
- Poverty Level
- Median Household Income
- Unemployment Rate
Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.
After we collected the data for all 41 places with more than 5,000 people in Maryland, we ranked each place from 1 to 41 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a ‘Rich Score’ with the place having the lowest overall Rich Score, Poolesville, crowned the ‘Richest Place In Maryland For 2018’.
You can learn more about the top ten below or skip to the end to see the rankings for all 41 places.
Population: 5,108Median Income: $150,000
Unemployment Rate: 3.6%
Poverty Rate: 1.5%
Poolesville is a town in the western portion of Montgomery County, Maryland. The population was 4,883 at the 2010 United States Census. It is surrounded by (but is technically not part of) the Montgomery County Agricultural Reserve, and is considered a distant bedroom community for commuters to Washington, D.C.
2. Mount Airy
Population: 9,376Median Income: $108,578
Unemployment Rate: 4.9%
Poverty Rate: 2.3%
Mount Airy is a town located in Carroll and Frederick counties in the U.S. state of Maryland. It is part of both the Washington Metropolitan Area and Baltimore Metropolitan Area. As of the 2010 census the population was 9,288.
Population: 6,352Median Income: $80,313
Unemployment Rate: 4.3%
Poverty Rate: 3.8%
Hampstead is a town in Carroll County in the U.S. state of Maryland. The population was 6,323 at the 2010 census.
Population: 5,989Median Income: $84,891
Unemployment Rate: 4.2%
Poverty Rate: 7.3%
Walkersville is a town in Frederick County, Maryland, United States. The population was 5,800 at the 2010 census.
Population: 65,171Median Income: $101,774
Unemployment Rate: 4.9%
Poverty Rate: 7.3%
Rockville is a U.S. city located in the central region of Montgomery County, Maryland. It is the county seat and is a major incorporated city of Montgomery County and forms part of the Baltimore–Washington metropolitan area. The 2010 census tabulated Rockville’s population at 61,209, making it the third largest incorporated city in Maryland, behind Baltimore and Frederick. Rockville is the largest incorporated city in Montgomery County, Maryland, although the nearby census-designated place of Germantown is more populous.
Population: 57,633Median Income: $106,098
Unemployment Rate: 6.8%
Poverty Rate: 3.3%
Bowie /bui/ is a city in Prince George’s County, Maryland. The population was 54,727 at the 2010 U.S. Census. Bowie has grown from a small railroad stop to the largest municipality in Prince George’s County, and the fifth most populous city and third largest city by area in the U.S. state of Maryland. In 2014 CNN Money ranked Bowie 28th in its Best Places to Live in America list.
7. Bel Air
Population: 10,211Median Income: $69,733
Unemployment Rate: 4.9%
Poverty Rate: 5.7%
The town of Bel Air is the county seat of Harford County, Maryland. According to the 2010 United States Census the population of the town was 10,120.
8. La Plata
Population: 9,059Median Income: $87,759
Unemployment Rate: 3.4%
Poverty Rate: 11.5%
La Plata /lplet/ ( listen) is a town in Charles County, Maryland, United States. The population was 8,753 at the 2010 census. It is the county seat of Charles County.
Population: 39,009Median Income: $74,187
Unemployment Rate: 5.1%
Poverty Rate: 10.9%
Annapolis (/næpls/) is the capital of the U.S. state of Maryland, as well as the county seat of Anne Arundel County. Situated on the Chesapeake Bay at the mouth of the Severn River, 25 miles (40 km) south of Baltimore and about 30 miles (50 km) east of Washington, D.C., Annapolis is part of the Baltimore–Washington metropolitan area. Its population was measured at 38,394 by the 2010 census.
Population: 6,390Median Income: $96,325
Unemployment Rate: 8.8%
Poverty Rate: 5.2%
Cheverly is a town in Prince George’s County, Maryland, just outside Washington, D.C., United States. The town was founded in 1918, and it was incorporated in 1931. Cheverly had 6,173 residents as of the 2010 Census.
There You Have It – The Richest Places In Maryland For 2018
Like we said earlier, when we set out to identify the richest places in Maryland, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Maryland.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in Maryland, according to data:
2nd Poorest: Cambridge
3rd Poorest: Cumberland
For more Maryland reading , check out:
Detailed List Of The Richest Cities In Maryland
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