November 23, 2017

Lexington Park Ranks 10th Richest City

Richest city

Lexington Park has reached a new distinction: the St. Mary’s County town has been named the 10th richest city in America by 24/7 Wall St. The town has a typical household income of $78,195 annually and a median home value of $307,900. Also, the unemployment rate in Lexington Park of 3.8 percent, which is below the national average of 4.4 percent. The full 24/7 Wall St. article can be found on the organization’s website.

US household incomes have been on the rise. The median household income in the country reached $59,039 in 2016, a total that increased 3.2 percent over 2015 and is one of the highest incomes ever recorded. Poverty levels also went down, yet income inequality failed to improve. So while there are still many poor communities, there are also many very prosperous ones.

To find the richest cities in the US, 24/7 Wall St. looked at data from the US Census Bureau’s 2016 American Community Survey. The organization identified the 25 US metropolitan statistical areas with the highest median household incomes. Median home values, poverty rates, and educational attainment also came from that survey. Unemployment rates are cited from the Bureau of Labor Statistics and are relevant as of August 2017, the most recent period for which data is available. Cost of living by metro area, or regional price parity, is for 2015 and came from the Bureau of Economic Analysis.

Median incomes in the cities that were ranked on 24/7 Wall St.’s “America’s Richest Cities” list range from about $71,700 to more than $110,000 a year.

24/7 Wall’s “25 Richest Cities in America”

  1. San Jose, California
  2. San Francisco, California
  3. Washington, DC
  4. Bridgeport, Connecticut
  5. Boston, Massachusetts
  6. Anchorage, Alaska
  7. Honolulu, Hawaii
  8. Oxnard, California
  9. Seattle, Washington
  10. Lexington Park, Maryland
  11. Trenton, New Jersey
  12. Santa Cruz, California
  13. Fairbanks, Alaska
  14. Baltimore, Maryland
  15. Manchester, New Hampshire
  16. Napa, California
  17. Boulder, Colorado
  18. Santa Rosa, California
  19. Vallejo, California
  20. Minneapolis, Minnesota
  21. Hartford, Connecticut
  22. Kahului, Hawaii
  23. Denver, Colorado
  24. New York, New York
  25. Raleigh, North Carolina

24/7 Wall St. is a corporation in Delaware that runs a financial news and opinion company with content delivered over the Internet. Company articles are republished by many of the largest news sites and portals, including Time.com, MSN Money, MarketWatch, Yahoo! Finance, USAToday, and The Huffington Post.

For more about Lexington Park, visit the St. Mary’s County Community Development Corporation’s Leader member page.

St. Mary’s County Community Development Corporation

46940 South Shangri-La Drive, Suite 7

Lexington Park, MD 20653

301-863-7700

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