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August 30, 2007

You call yourself rich, Howard County?

Howard County, home of Columbia, Ellicott City and Elkridge, had the third-highest median income of any big locality in the nation, according to Census data that came out this week: $94,260 per household. That means half Howard County's families made more than that last year; half made less. Virginia's Fairfax County was first, at $100,318. Virginia's Louden County was second, at $99,371. (See post below on what's causing this: the homeland security boondoggle in Washington, the big federal deficits and all the tax dollars being vacuumed in from places like Nebraska and Michigan and being showered around the DC region.) Baltimore City, by contrast, had median income last year of $36,031.

But Howard County isn't really rich. Not Greenwich, Conn., or Beverly Hills, Calif., rich. Not Bill Gates rich, and not Warren Buffett rich. Howard County ranks high on the wealth charts because it has lots of households taking home $100,000 or $300,000 a year -- and hardly any poor people. In the 2000 Census fewer than 3 percent of Howard County's families were below the poverty line. Greenwich and Beverly Hills, on the other hand, are in jurisdictions with many poor families that pull down the median income. Howard County is an ethnically diverse but economically homogeneous swath of striving, upper-middle class burghers -- but nowhere near being filthy, Palm Beach rich. My guess is that the Columbia Mall Nordstrom's is not high on the profitability list of that department-store chain's stores.

Posted by Jay Hancock at 9:42 AM | | Comments (7)
        

Comments

Do you have a point, Jay?

I second Ron's comments. Are you jealous because you live in Baltimore County or the City?

I live in Howard County. I'm jealous of Palm Beach.

Jay, this is an interesting little statistic. It was shocking to think of HoCo as being richer than Fairfield County in CT, but I guess your points explain that. The real mystery is: wasn't Howard County originally planned to be economically (as well as ethnically) diverse? What's become of that goal?

Loudoun County, Virginia

Another post that could have been better if reseached. You once again "guess" instead of providing facts. Lazy.

Howard County must be rich. In a recession, County Executive Ken Ulman can layoff some employees and give others 3-6% raises, spend more on new programs, and still get a 7% raise himself.

Howard County must be rich. In a recession, County Executive Ken Ulman can layoff some employees and give 3-6% raises to others, create new cabinet positions, spend more on new programs, and still get a 7% raise himself.

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About Jay Hancock
Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Wednesdays and Fridays.
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