Every Census year, special attention is paid to the counties with the highest median household income. This information is not just useful to the tax office, but for a long list of people, including political parties, real estate investors, businessmen looking to set up shop, and so on.
A high median income county. the richest counties in the USA have prospects of many kinds; it means a high purchasing power, it means a thriving local economy, it means a high standard of living, and it means predictable prices of fixed assets. Understandably, high median income counties continue to attract investments which in turn continues to generate more wealth for the residents, thus ensuring prosperity for some time to come.
Note that for the wealthiest counties in US, economic factors change without warning, and so can the viability of communities, especially when said communities are dependent on certain industries to thrive.
Top 10 Richest Counties In The USA 2023
1. Loudoun County
Median Household Income: $134,464
Loudoun County is located in the Commonwealth of Virginia in the United States. This county’s population is estimated at 413,538, making this Virginia’s third-most populous county. Loudoun County is part of the Washington–Arlington–Alexandria, Metropolitan Area.
Recent statistics put Loudoun County’s median household income at $136,268, making it the richest county in the US. The median household income is consistent with this county’s regular ranking of number one since 2008.
Loudoun’s population has grown dramatically since the 1980s, and the setting of the county has changed from rural to suburban. The county has a full-fledged service economy and is heavily occupied by tech companies such as Verizon Business, Telos Corporation, Orbital Sciences Corporation, and Paxfire.
Loudoun County still has a strong rural economy; the equine industry (raising horses) is worth about $78 million, and that figure is still going up. A major contributor to the equine industry is The Morven Park International Equestrian Center which hosts national horse trials. Loudoun County is also home to a growing wine industry and already has several internationally recognized wines. This county also has 25 active farms.
2. Howard County, Maryland
Median Household Income: $120,941
Howard County is located in the state of Maryland and has a population of about 328,200. Howard County is part of the Baltimore-Columbia-Towson, MD Metropolitan Area. Even though this county is in Maryland, it maintains strong economic and developmental links to the Washington, D.C. media and employment markets.
A major residential area in Howard County in Columbia, which is a major planned community full of detached houses, and occupied by upper-middle-class families. Most of the residents of this county live in the services economy. The Howard County Public School System employs 8,136 people, The County Government employs 3,323 outside of the school system, and such companies as Verizon and other tech companies also employ lots of people.
3. Fairfax County, Virginia
Median Household Income: $115,717
Fairfax County is in the Commonwealth of Virginia and one of the richest counties in the United States. Fairfax County borders both the City of Alexandria and Arlington County and is also close to Washington, D.C. The county is suburban, although small parts are also urban and rural. The population is presently estimated at 1,147,532, making it the state’s most populous area.
Fairfax has a good service economy, and a high average weekly wage of $1,181, which is 52% more than the national average. This service economy is particularly good for highly educated workers. Some of the county’s biggest employers are Fairfax County Public Schools, the United States government, and the Fairfax County government.
4. Hunterdon County, New Jersey
Median Household Income: $113,684
Hunterdon County is in the state of New Jersey. The recent census estimate puts the county’s population at 124,371, representing a 3.1% decrease from previous estimates. Based on data from the Bureau of Economic Analysis, Hunterdon County a GDP of $6.8 billion in 2018. Hunterdon County’s median household income was $105,186, not far behind Fairfax County in Virginia, and Howard County, Maryland.
One thing that makes Hunterdon County stand out is its real estate climate which is very robust. Hunterdon County has the highest median property tax at $7,999, showing that the county is highly developed as a place for investing in real estate.
Santa Clara County, CA
5. Santa Clara County, California
Median Household Income: $111,069
Santa Clara County, in California, is one of the nation’s well-known enclaves for wealthy families and one of the wealthiest counties in the USA. The population is estimated at 1,781,642, and they are made up of a diverse mix of ethnicities, working in several industries.
Santa Clara County is home to Silicon Valley, and full of investments in technology. The county’s economy is heavily service-based; you can find both hardware and software companies in equal measure, and there are also lots of retail and office support workers.
Santa Clara is a global economic center for high technology and is home to the popular Silicon Valley. Its concentration of wealth, largely due to tech industries has made it one of the most affluent places in the United States. The economy is service-based. Both hardware and software technology dominates the service sector by value. It also has its share of retail and office support workers.
Santa Clara County has the third-highest GDP per capita in the world after Zurich, Switzerland, and Oslo. With so many tech CEOs living here, there is a great concentration of wealth in the area.
6. Arlington County, Virginia
Median Household Income: $110,388
Arlington County is also in Virginia, in Northern Virginia on the southwestern bank of the Potomac River. This county has an estimated population of 236,842, making it the sixth-largest by population in Virginia. The county has a high amount of government presence; about 60% of office space in the Rosslyn-Ballston corridor is leased to government agencies and government contractors.
Furthermore, the services economy of the county provides enough jobs for its inhabitants; Arlington has consistently had the lowest unemployment rate of any jurisdiction in Virginia, with the recent figure being put at 4.2%.
There were an estimated 205,300 jobs in the county in 2008. About 28.7% of these government jobs, 19.1% were technical and professional, 28.9% were in accommodation, food, and other services.
7. Douglas County, Colorado
Median Household Income: $109,292
Douglas County is a county located in the state of Colorado. The population was recently estimated at 285,465. Douglas County is in close proximity to Denver and Colorado Springs. Douglas County has the highest median household income in the state of Colorado.
The economy is service-based, and some of the major employers are Douglas County School District RE-, Charles Schwab Corporation, and EchoStar. Others are HealthONE: Sky Ridge Medical Center, Western Union, and the Douglas County Government.
8. San Mateo County, California
Median Household Income: $108,627
San Mateo County is a county in the state of California. The county has a population of 718,451. This county covers most of the San Francisco Peninsula and includes the San Francisco International Airport. Most of the area is mostly suburban with some areas being very urban.
San Mateo County is home to Facebook; a major economic factor, as well as other tech companies like Visa Inc, Sony Interactive Entertainment, Electronic Arts, YouTube, and so on.
9. Morris County
Median Household Income: $106,985
Morris County is located in the state of New Jersey. The county is also very close to New York City. A recent census puts the population at 492,276. This county has 39 municipalities but has no large cities. Its county seat is Morristown.
Morris County is home to 33 Fortune 500 companies that have their headquarters, offices, or major facilities in the county.
These companies have raised the county per capita personal income to $86,582, the highest in New Jersey. Housing is quite expensive in Morris County; in 2018, the median house price was $469,900.
10. Williamson County, Tennessee
Median Household Income: $106,054
Williamson County is in the U.S. state of Tennessee. The population was recently estimated at 183,182. This county is one of the wealthiest counties in the United States; Williamson County has often been named as one of the wealthiest counties in the United State, and also in the country.
There is a lot of agricultural activity, including cattle and other livestock. This is also a major producer of grain.
There you have it; those are the richest counties in the USA. The information here shows heavily the influence of tech companies, as well as a high concentration of government jobs giving rise to a high cost of living.
Some of these counties have as high as 40 percent of their populations involved in one particular industry. That is not a good sign. For a city to be sustainable for the long term there has to be diversification of its economy.