Reply to Top 3 of nation's 4 richest counties are in NoVa

Forum Index » Real Estate

Reply to "Top 3 of nation's 4 richest counties are in NoVa"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Define "richest." Being high income can be very different than having wealth.[/quote]

Agreed. Howard County ranks highly because it's a very solidly middle to upper middle class county with relatively few low income residents, unlike MontCo, which has many high networth households but also a large working population, especially in the eastern part of the county. MontCo is much more diverse. On paper Howard may have the higher average income, but MontCo definitely has a much higher concentration of wealth. [/quote]

That is changing, but people hang on to their old beliefs.[quote]

All you have to do is to look at house prices in Chevy Chase, Bethesda, Potomac and compare to the richer parts of HoCo - Clarksville, Fulton, parts of Ellicott City.

There's a level of housing prices in MoCo that you do not find in Howard.

I went to redfin and plugged in Howard County and a minimum price of $2 million and there are 14 listings, of which the most expensive is a historic property on 100 acres in Glenwood for 5.7 million.

By contrast, Montgomery County has 156 houses listed above $2 million, with the most expensive in Bethesda at $18 million.

Even the District itself has 126 houses listed at and above $2 million, with the most expensive listing being $20 million for a house in Kent.

Howard is a nice county, don't get me wrong, but it doesn't have the concentration of "true" wealth that you find in parts of Montgomery and DC and NoVA. Even the Anne Arundel County waterfront has many more multi-million dollar houses than Howard (currently 57 properties listed for more than $2 million, including a spectacular Annapolis waterfront property on 26 acres for 14.5 million. Howard is affluent, but for whatever reasons, the truly high net worth households that are able to drop multiple millions on a house are heavily concentrated in certain portions of MoCo, NoVa, the district and the AA county waterfront.
[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics