By Anna Strock|Updated on December 30, 2022(Originally published December 25, 2022)
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Anna Strock
Author
Virginia staff writer for Only in Your State, freelance writer and journalist. Even though Anna has lived other places, somehow Virginia is where she always seems to land.
Virginia has long been ranked among the wealthiest states in the nation. An overall stable economy, relatively low unemployment rates, and an abundance of government jobs help keep residents of the Commonwealth among the highest earners in America.
But when determining the wealthiest individual areas in Virginia, things can get a bit complicated as there are many ways to run the numbers. One common method is to analyze census data. Currently, the most recent census data is from 2020. A number of organizations have calculated wealth based on estimates from this data – but the numbers are assigned by county, and even then can vary greatly depending on whether or not they represent median household income or median family income.
For this list, we are reporting on Forbes’ list of the top 10 wealthiest counties in the nation based on median household income in 2021 (as it’s the most recently available information based on the 2020 census). It’s interesting to note that Virginia has half of the top national earners jam-packed into our little state alone!
1. Loudoun County: median household income: $142,299
Long listed as the wealthiest – and fastest growing - county in the nation, Loudoun dropped to #2 nationally and statewide in 2014 only to bounce right back to #1 in recent years. Located 45 miles from Washington, D.C., Loudoun boasts a long history dating back to before the Revolutionary War. Once rural farmland, Loudoun is now home to more than 350,000 residents and a variety of historic downtowns (like Leesburg, pictured here), suburban housing, and business complexes.
Many communities are a mix of planned suburban developments and quaint downtowns that blend the old and new. There truly seems to be something for everyone here, and no matter where you go, you're sure to find something fun and memorable.
Contributing to Loudoun's economy are developments like One Loudoun, a mixed-use community with retail shops, housing, entertainment and office space that almost creates a self-contained town within a town near Ashburn.
While scenic countryside and beautiful vineyards are still in abundance, this county continues to see rapid growth and a strong economy. While you're in beautiful Loudoun County, you might want to check out Morven Park, which is frequently cited as one of the top five best things to do in Virginia.
2. Fairfax County: median household income $124,831
Fairfax is not only the second wealthiest county in Virginia, it’s also the second wealthiest in the nation by Forbes’ calculations. What makes this ranking even more impressive is that Fairfax is the most populated county in Virginia with more than one million residents – and naturally, the more residents, the more variance occurs in the median. So how does a county of one million people keep their median income over $124,800? A close proximity to Washington, D.C. doesn’t hurt, of course. Fairfax is home to the CIA headquarters at Langley, the National Counterterrorism Center and Office of the Director of National Intelligence – just to name a few.
Likewise, with many Fortune 500 companies headquartered in Fairfax, commercial businesses continue to grow as well. Tyson’s Corner, another Fairfax financial hotspot, is the county's central business district and in 2008, the New York Times called it the 12th-largest employment center in the nation. To get an idea of just how much money is moving through Fairfax, in 2014, CNBC’s Inside Wealth listed the Swinks-Mill neighborhood in McLean, near Tyson's Corner, as the 7th-wealthiest neighborhood in the nation with a median income of $562,596. While in Fairfax County, be sure to check out some of its most amazing natural attractions, like the unforgettable Great Falls Park, home to one of the most beautiful waterfalls in VA.
3. Arlington County: median household income $120,071
As Virginia’s 3rd-wealthiest county, Arlington still holds strong nationally with a Forbes’ ranking of 6th-wealthiest in America. The county, comprised of the City of Arlington, is the county closest to DC. Located just south of the Potomac, it’s no surprise that Arlington is driven by government jobs. With government departments and agencies like the United States Department of Defense at the Pentagon and the Drug Enforcement Agency, Arlington County serves as a close neighbor to DC, both economically and politically.
While, overall, Arlington earns a third place ranking, the Washington Business Journal released reports in 2014 based on IRS income data that show three Arlington zip codes made their list of the top 50 wealthiest zip codes in the Washington area with average incomes of $193,292, $183,484 and $171,153 respectively.
Arlington has also been ranked nationally as one of the best places to live overall. This "urban village" provides a unique blend of homes, apartments, and historic neighborhoods alongside retail shopping and businesses. High-density areas like Ballston and Rosslyn are especially popular. Great schools, diversity, a strong job market (thanks to so many government jobs), high home values (median value is $600k), and safety are all part of what makes Arlington so special. While visiting Arlington County, you can't miss the opportunity to check out the historic Arlington National Cemetery, which may or may not be a little spooky sometimes despite its fascinating beauty.
4. Stafford County: median household income $111,108
It’s probably no surprise at this point that the 4th-wealthiest county in Virginia is also relatively close to Washington, DC. Stafford, located about 25 miles south of DC, is home to approximately 120,000 residents. Ranked the 6th-wealthiest county in the nation by Forbes’ with a median household income surpassing six figures, Stafford can attribute much of its wealth to large employers like Geico and government jobs (including the FBI), as well as county government and school system employment.
Stafford’s history dates back to early Native American civilizations and includes significant colonial and pre-Revolutionary War history, including George Washington’s childhood home, Ferry Farm and the historic Kenmore manor house, in the southern part of the county. Should you ever find yourself in the area, you ought to check out Widewater State Park, which is the newest state park in VA at the time of this writing.
1. Falls Church City (Independent City): median household income $155,071
This small city only has about 12,000 residents, but with average home prices topping $500,000, an abundance of government jobs, outstanding schools that attract wealthy citizens and close proximity to Washington, D.C., Falls Church City definitely brings in the big bucks.
As an independent city, Falls Church City has held county-equivalent status since its incorporation in 1948 and easily competes with larger counties, despite its small size.
Founded in 1699, the city also offers historic sites like the Cherry Hill House and Farm, as well as easy access to DC with metro lines and nearby interstates.
What do you think of the numbers? Do you live in one of the richest counties in VA? Do you think it’s fair to have it on the list? Tell us your thoughts in the comments – we love hearing from you! You can also visit the Forbes article, reporting the richest counties in the U.S.
For more of the most interesting places in Virginia, you might want to check out one dozen of the most charming towns in VA.
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More to Explore
Richest Counties in VA
Tori Jane|December 30, 2022
What are the richest counties in VA?
Interestingly, of the 15 wealthiest counties in the United States, five of them – so one-third – are in Virginia. The wealthiest counties in VA per capita as of the 2020 census are:
Loudoun County, median household income is $142,299
Falls Church City, median household income is $127,610
Fairfax County, median household income is $124,831
Arlington County, median household income is $120,071
2. What are the poorest counties in VA?
Unfortunately, every state in the U.S. comes with its poorest cities and counties; the poorest counties in VA are counties like:
Dickenson County, median household income is $16,278
Radford City, median household income is $16,496
Lee County, median household income is $16,513
Sussex County, median household income is $16,735
3. What is living in VA like?
Living in Virginia is lovely, especially if you’re a fan of the great outdoors. There are plenty of amazing things to do, see, and experience in Virginia, and some of the most important places for anyone living in VA to visit are:
The delightful small towns, like Floyd, Salem, or Rocky Mount
Beautiful river towns, like Buchanan, Scottsville, and Pulaski
