You probably won’t find these places featured on the Lifestyles of the Rich and Famous, but Maryland’s richest places house many of the state’s super wealthy.
Yes, The Old Line State has the finest blue crab cakes, some super rich housewives in Potomac, and, now, HomeSnacks’ list of the top ten richest places for 2023.
How do you get your hands on one of these Maryland gems? Well, a couple of things are going to have to fall into place for you. First, you are going to need a high paying job: one that pays on average $98,089/year. Although, to make this dream a reality, you might want to bring a job to the table: currently, there are not many high paying jobs within a short driving distance of the top ten places. Incidentally, the highest paying jobs in the state are in healthcare and tech and the state’s overall unemployment rate is below the national average.
The upside to living the Maryland dream, however, once you get settled in one of the state’s richest places, you will be able to experience all of the posh features that this state has to offer. Like, the Michelin Star restaurants in Rockville, season passes to the Baltimore Ravens, and/or five star weekends in Annapolis.
Whatever you decide, don’t make any major life changing decisions until you take a gander at the list of Maryland’s richest places below.
It was quite a feat to narrow down the richest places in Little America. The state is, after all, one of the richest states in the country. So, to cut down our list, we looked at the latest Census data from the American Community Survey for 59 Maryland cities with more than 3,000 residents. And, folks, the number one richest place in Maryland does not disappoint.
So, what is the richest place in Maryland for 2023? That would be, Poolesville.
To see a list of the rest of Maryland’s richest places, hit that down arrow. And if you don’t find what you’re looking for there, head to the bottom.
Rich people not your cup of tea? Feel free to check out some more reading about Maryland:
The 10 Richest Cities In Maryland For 2023
Median Income: $141,793
Median Home Values: $447,900
More on Middl: Data | Real Estate
Median Income: $126,472
Median Home Values: $417,700
More on Leonar: Data | Real Estate
Methodology: How We Determined The Richest Places In Maryland For 2023
The first thing that comes to most people’s minds when they think about determining the richest places is simply identifying personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the “richest places.” So we looked at this set of criteria from the newly released 2017-2021 American Community Survey and applied Saturday Night Science:
- Median Home Values
- Median Household Income
Median household income is the most digestible way to understand how rich a place is. And home values are a measure of wealth. The two combine to define a “Rich City.”
After we collected the data for all 59 places with more than 3,000 people in Maryland, we ranked each place from 1 to 59 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a “Rich Score,” with the place having the lowest overall Rich Score, Poolesville, crowned the “Richest City In Maryland For 2023.”
The data has been updated for 2023. This is our tenth time ranking the wealthiest cities in Maryland.
You can skip to the end to see the rankings for all 59 places.
Summary: The Wealthiest Places In Maryland For 2023
Like we said earlier, when we set out to identify the richest places in Maryland, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Maryland.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in Maryland, according to data:
Poorest: Princess Anne
2nd Poorest: Cumberland
3rd Poorest: Hagerstown
For more Maryland reading, check out: