Financial News Website Says Md. Is Richest State in Nation

Maryland is the richest state in the U.S., according to a ranking by financial news and opinion website 24/7 Wall Street, which put Virginia at number 10.

The rankings were based on data from the U.S. Census Bureau’s American Community Survey and the Bureau of Labor Statistics, which included median household income, poverty rate and unemployment.

Maryland had a median household income of $83,242 in 2018. Virginia’s median household income was more than $10,000 less — recorded as $72,577 in 2018.

Maryland also had a lower poverty rate than Virginia in 2018 at 9% compared to Virginia’s poverty rate of 10.7%.

Virginia’s unemployment rate was lower than Maryland’s — 3% in 2018. Maryland’s unemployment rate was 3.9% in 2018.

The rankings also factored in the level of education in the states.

Both Maryland and Virginia came in as some of the most educated states in the county. In Maryland, 40.8% of adults had a bachelor’s degree; that number was 39.3% of adults in Virginia.

The 10 “richest states,” according to 24/7 Wall Street:
1. Maryland
2. New Jersey
3. Hawaii
4. Massachusetts
5. Connecticut
6. California
7. New Hampshire
8. Alaska
9. Washington
10. Virginia

As part of Maryland Matters’ content sharing agreement with WTOP, we feature this article from Anagha Srikanth. Click here for the WTOP News website.

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