Spike in Median Income Around Nation's Capital

Washington Monument - IllustrationAs the title of this article states - it's good to live near Washington, D.C.

According to the U.S. Census Bureau (via CNN.com), median income in Washington, D.C. has soared over 12% since 2007.

The only state that has come even close to this total over the same time period? North Dakota, which has seen its median household income climb 11.2% since 2007.

A number of states, including California (-3.7%), Nevada (-7.4%) and Georgia (-5.5%) have reported declines in median household income over the same period of time.

The District of Columbia and neighboring states continue to benefit from ever-increasing government spending. Median household income was $68,854 in Maryland in 2010, making it the wealthiest state in the country.

Declines in the housing market and a pullback in the manufacturing industry have taken their tolls on a number of states since the start of the "Great Recession". However, government spending is still as robust as ever, much to the delight of those living in and around the nation's capital.

Source: CNN.com - Middle class income falls.. but not everywhere

Filed under: General Knowledge

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