LCDFlight wrote:Aaron747 wrote:LCDFlight wrote:DC area is absurdly wealthy and quite stylish. They massively tax the country AND also have a magic license to create US dollars at the Federal Reserve. You would certainly expect DC to be wealthy, and it is.
People are generally comfortable and there are quite a few wealthy people in DC metro, but again this take is OTT. 'Absurdly' wealthy is hardly befitting. Being in the orbit of federal government contracting and lobbying certainly pays over six figures in most cases, and the folks running lobbying firms are easily into eight figure net worth, but none of this compares to the wealth generated in finance and tech. Like not even remotely. It's not Seattle, it's not Boston, it's not NYC, it's not LA.
There are 3 US cities on the world's top 10 list of billionaire cities, and DC aint one of them:
https://www.businessinsider.com/where-d ... dditions-9
Looking at billionaires is fun, but I think millionaires have a bigger effect on a city. median DC MSA household income is a little higher than Boston and Seattle metro areas (latest numbers appear to be $122k median household in DC Metro). LA and NYC are lower at 80-85k. I agree not many billionaires in DC area, but it is among the most affluent cities on Earth.
Again household income is just as much fun as billionaires. Differences in COL between US MSAs make it a poor metric, as was posted earlier, PCPI is a better metric for metropolitan comparison. On that score, DC is middle of the pack in the US top 10, and falls behind Seattle and Boston.
https://en.wikipedia.org/wiki/List_of_U ... nal_income