This Is The Richest City In Maryland, Analysis Says

MARYLAND — Chevy Chase is the richest city in Maryland, according to an updated analysis that looks at which towns enjoy the highest median incomes in the country.

To determine the richest city in each state, writers at Stacker.com used information from the most recent Census Bureau American Community Survey Five-Year Data and ranked cities by median household income.

Any ties were broken by the percentage of people annually earning more than $200,000, according to the analysis.

According to the ranking, it's easy to see why Chevy Chase has attracted wealthy residents.

"In the late 19th century, two Nevada politicians enabled by the rise of railroads and streetcars planned the town to be a hub for movers and shakers living just outside of Washington D.C. It was specifically developed as a peaceful, park-like community filled with amenities and conveniences — and remains so to this day," the writers at Stacker.com said.

Here's a look at the numbers that made Chevy Chase the richest city in Maryland:

• Median household income: $250,000 (232.7% more than U.S. median income)
• Households earning over $200,000: 763 (76.7% of households)
• Median earnings for workers: $129,659 (male: $238,958; female: $181,667)
• Civilian population with health insurance: 98.6%
• Unemployment rate: 3.6%
• Families with income below poverty level: 3.1%

According to the analysis, from 1963 to 2022, the richest 1 percent of American families experienced a sevenfold increase in wealth from $1.8 million to $13.6 million. During the same period, the average wealth of those in the bottom 10 percent only rose from -$23 to $450.

Because of this, wealth inequality is higher in the United States than it is in almost any other developed nation, the analysis claims.

"This is a relatively new phenomenon, with the wealth divide expanding starkly over the past half-century or so," the writers at Stacker.com said.

See the full list of richest cities by state.