Maryland: We’re #1

2:29 pm EST September 22nd, 2009 | News | 5 Comments

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Despite a decrease in home values in Maryland in 2008, the state remains the richest state in the nation, according to U.S. census data released Tuesday.

The state’s median household income for 2008 was $70,545, an increase of about $1,500 from the state’s median income in 2007 and slightly higher than New Jersey’s figure ($70,378). Maryland also had the highest median household income in 2007 and has been among the national leaders for much of the decade, with Howard, Calvert and Montgomery counties all regularly ranking among the top 10 wealthiest counties in the nation.

Maryland is one of 22 states that saw its home value decrease in 2008 amid last year’s economic downturn and housing collapse. Median home value in Maryland decreased from $347,000 in 2007 to $341,200 in 2008, and the national homeownership rate fell to 66.6 percent last year, the lowest mark in six years.

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5 Responses to “Maryland: We’re #1”

  1. Indeed says:
    September 22, 2009 at 2:37 pm

    Can you loan me a 20 until Friday?

  2. Buzz Killington says:
    September 22, 2009 at 2:46 pm

    Heh, I was going to make a comment about the mixed blessing nature of this, but Indeed beat me to it.

  3. I'm a Hick says:
    September 22, 2009 at 2:46 pm

    ‘Wealth won’t save your soul.’

    Hank Williams

  4. KXB says:
    September 22, 2009 at 4:26 pm

    While I don’t begrudge you your hometown pride in this factoid, I do have to point out that with Washington DC right next door, Maryland, and Northern Virginia, enjoy a certain economic cushion. With federal agencies concentrated in that area, DC does not suffer in the way that say NY does when finance takes a dive, or Houston in the 80s when oil prices fell. Also, I am not so sure it is healthy for so much economic activity to be tied up in government decision-making. Lobbyists make a good living, and plenty of them make their homes in nice towns like Bethesda and Chevy Chase.

  5. JR says:
    September 23, 2009 at 2:25 pm

    Has anyone told West Baltimore this news yet?